Property agency with focus on investments is launched
A new commercial property consultancy has been set up in Belfast by one of the sector's top professionals as it faces the hurdles of Brexit and a lack of an Executive.
InPrio is led by Neil McShane, a former Lambert Smith Hampton director of capital markets.
The agency will specialise in investment acquisitions and disposals, asset management and development consultancy.
Clients are expected to range from private high net worth individuals to major corporates, funds, property companies and developers.
Mr McShane is a qualified chartered surveyor and fellow of the Royal Institution of Chartered Surveyors, with over 17 years of experience.
He said: "I am thrilled to launch the new consultancy and bring forward an offer which places emphasis on robust advice in an environment where investors and developers are seeking a diligent and thorough approach to satisfy their property needs.
"Whether it is office accommodation, industrial space, hotels, data centres or retail, there are deals to be done and the appetite for good quality property will always remain.
"The commercial property sector in Northern Ireland is experiencing a unique set of circumstances.
"Ongoing Brexit uncertainty and a lack of a functioning Executive are the main challenges we are currently facing.
"However, there is always a need for sound advice and I aim to bring clients an agile, responsive consultancy practice which is grounded in nearly 20 years of experience."
Despite concerns around Brexit and the lack of devolved government, there have been some major investment deals so far this year.
In June, French asset manager Corum Asset Management bought 40-46 Donegall Place.
The site, home to Northern Ireland's flagship Next store and newsagent Eason and extending to 67,000 sq ft, was acquired for £16.4m, which equates to a net initial yield of 7.05%. It is the biggest retail investment in the province so far this year.