CBRE has retained the top spot in Northern Ireland as both letting and managing agents of retail and leisure parks, according to retail and leisure analyst Trevor Wood Associates.
The announcement was made during the launch of the Definitive Guide to Retail & Leisure Parks 2019 at Ten Square Hotel in Belfast city centre.
The figures reveal that CBRE manage 1.45 million sq ft and act as letting agents for 1.47 million sq ft of retail parks in Northern Ireland, which represents 26.3% and 26.7% respectively of the overall market.
The Definitive Guide to Retail & Leisure Parks is regarded as the benchmark report for all UK-based commercial property agencies and investors. Trevor Wood Associates are the leading independent provider of information on all retail and leisure schemes in the UK.
Gerard McCann, senior director at CBRE, commented: “CBRE has one of the largest multi-skilled property management teams operating in Northern Ireland, which is supported by a global platform. As a result, we can offer clients a suite of services that are unique in Northern Ireland.
“Due to the scale of our retail park portfolio, we have developed strong working relationships with tenants, helping us to add real value to our clients’ assets.”
Colin Mathewson, senior director at CBRE, added: “The retail park market in Northern Ireland has remained vibrant in recent years with very limited vacancy, regardless of insolvency and CVA issues with retailers such as Carpetright, Maplin, Mothercare and Poundworld.
“In particular the greater Belfast area remains in demand from retailers with lettings secured across a range of locations including Westwood Retail Park, Boucher Retail Park, Holywood Exchange, Longwood Retail Park in Newtownabbey and Laganbank Retail Park in Lisburn.
“In addition, we are aware of a healthy pipeline of lettings currently being proposed, which should be announced in the coming months along with increased activity from the food and beverage sector.
“Although new development remains limited, it is great to see that the health of retail parks remains extremely positive, in contrast to the performance of the retail sector in general which remains challenging.”