New appointment sees Savills adds more strings to its bow
Savills Belfast has added to its wide range of services by appointing a new Divisional director, Simon McEvoy to drive a new arm of the company focused on all aspects of the office market.
Simon brings a wealth of expertise to the role with over 10 years' experience working in the Dublin office market with JLL on many of Dublin's major office developments and providing acquisition advice to indigenous and multinational occupiers.
The office agency services that Savills will be offering include development advice, leasing, sales, lease re-gears, surrender and rent reviews. In addition to the landlord services, Savills will be further developing their tenant services by working with their Global Tenant Representation team to assist occupiers and new FDI entrants on acquisitions and expansion.
Savills who is sponsoring the Architectural Practice of the Year Award in the 2016 Belfast Telegraph Property Awards is known for offering a wide range of commercial property services across all sectors.
The Belfast team works closely with the company's regional offices in Dublin and Cork as well as the UK offices to provide excellent market knowledge and diverse property solutions for clients.
Mr McEvoy said he is delighted to head up this new service in the award-winning Belfast Office: "We will be offering a complete range of services to occupiers and landlords/developers from a projects inception to completion.
"The office market has been very active in the last 18 months with rents increasing from £14 per sq ft to in excess of £20 per sq ft by the end of 2016 which is a phenomenal increase; however Belfast is still 25% less expensive than any other UK city.
"Off the back of that a lot of developers are putting in planning permission for new developments and refurbishments of existing office space, which are much needed in the current market with a Grade A vacancy rate of less than 2%. Savills will be using our international and local expertise to provide advice to help marry the requirements of landlords and tenants."
Mr McEvoy said the high demand for office space in Belfast, which has not been overtly affected by Brexit, is being driven by the fact that compared to the rest of the UK and the Republic of Ireland our rents and property costs are lower, as are labour costs.
He added: "Invest NI and Belfast City Council are doing a fantastic job attracting FDI and as result we are starting to experience the results of positive word of mouth in the international community and the cluster effect that follows. Our ability to attract further investment will be further enhanced with the introduction of a new tax rate in 2018 that undercuts the rest of the UK and puts us on a par with the Republic of Ireland."