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15/01/2010
NI Land Values Fall By 60%
A new report has shown that land values in Northern Ireland may have fallen to as much as 60% as their peak figures.
Commercial property firm CBRE also said that the NI hotel market is close to saturation point. In its 2010 outlook, the firm also said office rents in Belfast have stabilised after coming under pressure due to excess supply.
While the market was improving, the next 12 months would still be "extremely challenging", the report said.
The company said a lack of bank funding for developments had contributed to the sharp decline in land value.
It added that only approximately 15,000 square metres of office lettings were transacted in Belfast during 2009.
The outlook for the Belfast hotel sector was not any brighter, with the report saying that other than a hotel planned at George Best Belfast City Airport, and another in the Titanic Quarter there is little prospect of any other new hotels being developed in the city for the foreseeable future.
(NS/BMcC)
Commercial property firm CBRE also said that the NI hotel market is close to saturation point. In its 2010 outlook, the firm also said office rents in Belfast have stabilised after coming under pressure due to excess supply.
While the market was improving, the next 12 months would still be "extremely challenging", the report said.
The company said a lack of bank funding for developments had contributed to the sharp decline in land value.
It added that only approximately 15,000 square metres of office lettings were transacted in Belfast during 2009.
The outlook for the Belfast hotel sector was not any brighter, with the report saying that other than a hotel planned at George Best Belfast City Airport, and another in the Titanic Quarter there is little prospect of any other new hotels being developed in the city for the foreseeable future.
(NS/BMcC)
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14 May 2010
Belfast Hotel Plan Dropped: Report
A government-supported plan to build a hotel in central Belfast has been scrapped, the BBC has reported. Back in 2007, the Department for Social Development appointed Tullymore House Ltd as preferred developer for Armagh House in the city’s Ormeau Avenue, with plans to convert the building into an upmarket hotel.
Belfast Hotel Plan Dropped: Report
A government-supported plan to build a hotel in central Belfast has been scrapped, the BBC has reported. Back in 2007, the Department for Social Development appointed Tullymore House Ltd as preferred developer for Armagh House in the city’s Ormeau Avenue, with plans to convert the building into an upmarket hotel.
21 August 2007
£20 Million Hotel To Create Over 100 Jobs
A luxury £20 million hotel is hoping to create more than 100 jobs in Belfast's city centre. The new Fitzwilliam Hotel will be built on Great Victoria Street, next to the Grand Opera House. The hotel will have more than 130 luxury rooms and is being planned as a five-star, which will make it the second in the city centre.
£20 Million Hotel To Create Over 100 Jobs
A luxury £20 million hotel is hoping to create more than 100 jobs in Belfast's city centre. The new Fitzwilliam Hotel will be built on Great Victoria Street, next to the Grand Opera House. The hotel will have more than 130 luxury rooms and is being planned as a five-star, which will make it the second in the city centre.
28 February 2014
Kelly Withdraws PSNI Legal Action
Sinn Féin MLA Gerry Kelly has said he is no longer taking legal action against the PSNI Chief Constable Matt Baggott, it has been reported. Earlier this week, it was revealed that Mr Kelly – who is also a Policing Board Member – had lodged legal proceedings in relation to an incident that occurred in north Belfast last June.
Kelly Withdraws PSNI Legal Action
Sinn Féin MLA Gerry Kelly has said he is no longer taking legal action against the PSNI Chief Constable Matt Baggott, it has been reported. Earlier this week, it was revealed that Mr Kelly – who is also a Policing Board Member – had lodged legal proceedings in relation to an incident that occurred in north Belfast last June.
17 April 2007
Ombudsman report describes death as "tragic"
A police Land Rover’s sirens were switched on when it knocked down and killed a man in west Belfast, according to a Police Ombudsman report. Jim McMenamin, 29, from west Belfast was killed after being knocked down on the Springfield Road on 4 June 2005.
Ombudsman report describes death as "tragic"
A police Land Rover’s sirens were switched on when it knocked down and killed a man in west Belfast, according to a Police Ombudsman report. Jim McMenamin, 29, from west Belfast was killed after being knocked down on the Springfield Road on 4 June 2005.
09 February 2007
DUP candidates agree to election manifesto
The Democratic Unionist Party members have agreed to the party's election manifesto, it has today been announced. In doing this, the party's 46-election candidates, who were chosen last night, have also agreed to pre-signing a letter of resignation which will be invoked if they breach party rules.
DUP candidates agree to election manifesto
The Democratic Unionist Party members have agreed to the party's election manifesto, it has today been announced. In doing this, the party's 46-election candidates, who were chosen last night, have also agreed to pre-signing a letter of resignation which will be invoked if they breach party rules.
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Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
