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In 2014 the residential sales market was defined by high demand, fuelled by limited supply of re sale properties and growing buyer confidence. This was combined with an increase in mortgage availability from a greater pool of lenders in comparison to 2012/13 according to Garry Best, Director of Best Property Services.
Commenting Garry said “2014 also saw a large demand for new build property – again due to the limited supply of new estates and more accessible finance.”
Development Land has shown the strongest growth sector during 2014, driven by limited supply and builders - having access to new funding - looking to acquire land now that house prices are rising.
Last year, well located land with Planning Consent in the Newry area has sold for between £20,000 - £25,000 per unit/site for Semi Detached Houses and £25,000 - £30,000/unit for Detached three Bedroom properties – a far cry from the peak market in 2007 where £100,000/unit site would have been the average.
The South Down agency also reported demand for rental property is at an all-time high with average rent rates continuing to rise (typically 3-5% on previous year).
“Sector types of particular demand are 3-4 bedroom detached and semi-detached properties. In terms of geographical demand, it’s highest in Newry/Warrenpoint area for tenants seeking long term leases,” added Mr Best.
Looking to commercial trends, throughout 2014 saw recovery, with growth in transaction levels and increased demand from both buyers and tenants looking for new property said Ciara Aiken, Commercial Director.
“The retail sector was particularly buoyant and the office sector also saw increase of 72% on sales volumes compared to last year. Overall, commercial transaction levels were up by 30% on 2014 which indicates renewed market confidence.
“Valuation consultancy services also increased, reflecting the greater levels of business activity generally,” Ciara added.
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Newry Chamber of Commerce & Trade is delighted to announce that it has secured three new Patron Sponsors, namely Autoline Insurance Group, MJM Group and First Trust Bank.
President Deborah Loughran stated, ‘Newry Chamber is very thankful of the commitment from these three organisations to support the work of Newry Chamber of Commerce over the next three years. This sponsorship package provides us with an essential boost in funding to help finance the Chamber’s running costs and its business support activities’.
Julie Gibbons, Autoline stated, ‘Newry Chamber of Commerce provides an invaluable service to the local business community. As an indigenous Newry company we are very proud to support the work of Newry Chamber in delivering services to assist the local business community’.
Stephen Comer, First Trust Bank said, ‘First Trust Bank is delighted to be a Patron Sponsor of Newry Chamber. Its commitment to the commercial success of its members is vitally important as it encourages more local entrepreneurs and businesses to grow and develop. We believe that supporting local businesses across Northern Ireland is essential as we seek to reinvigorate the economy. With a long history of supporting the local business community in Newry, First Trust Bank believes the Chamber’s pro-business ethos is in line with its own.
Brian McConville, Chairman, MJM Group, ‘MJM has projects spanning the globe; however, at the heart of the organisation, we are a family business based in our hometown of Newry. Newry Chamber is one of the most proactive Chamber’s of Commerce on the island of Ireland; it supports and promotes the Newry business community and we are only too delighted to support their endeavours’.
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Yesterday despite the wintery conditions of the past few days over 100 business delegates attended the Cross Border Business Support Expo hosted by Newry and Dundalk Chambers of Commerce and supported by InterTradeIreland, Louth County Enterprise Board on the 29th January in the Carrickdale Hotel.
President Deborah Loughran of Newry Chamber stated, ‘as joint organisers of this annual event, Newry Chamber was delighted with its success in terms of networking opportunities created and the opening of communication channels between local businesses and Support Agencies’.
‘There is a wide selection of business support programmes currently offered to small businesses; however, there is some confusion within the business community about where to look for support and exactly what businesses can avail of. In this evolving economic climate local businesses need to take advantage of all appropriate support opportunities open to them. This event provided a unique forum for business owners and managers to speak directly to all the local Business Support Providers on a one-to-one basis, on one day, under one roof’.
Over 30 Business Support Agencies catering for the needs of businesses located within the Newry Dundalk region exhibited at this Expo; exhibitors included, InterTradeIreland, EURES, Invest NI, Newry & Mourne District Council, Louth County Council, Newry & Mourne Enterprise Agency, Southern Regional College, SOAR, Stem Project, Department of Employment & Learning, Louth Regional Development Centre, Enterprise Ireland, Employability Louth, all of the main lending institutions.
Mr Paddy Savage, Operations Manager at InterTradeIreland said, ‘we are delighted to support this important cross – border business event again this year. We would also like to take this opportunity to remind local companies that we currently have a broad range of support packages for businesses interested in doing cross – border business or looking for networking/ partnering opportunities across the island. Details are on our website intertradeireland.com
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If a night at the races blended with a chance to do a bit of networking is up your street the special ‘Race Night’ after hours business networking event with Newry and Dundalk Chamber’s of Commerce on Friday 27th February in Dundalk Stadium is just the ticket or should we say betting slip!
Guests will enjoy all the excitement of the horse and greyhound racing while socialising and networking with members, colleagues and business associates at this Dundalk Stadium sponsored event.
President Deborah Loughran, Newry Chamber stated, ‘we are delighted to co-host this after hours networking event with our colleagues in Dundalk Chamber. We would like to encourage all businesses within this cross border area to join with us in what we anticipate to be a great nights fun and entertainment in a relaxed networking environment’.
Emma Meehan, Dundalk Stadium, stated, ‘we are delighted to sponsor this event with Newry and Dundalk Chamber’s of Commerce, we have no doubt that Chambers members and guests will enjoy the race course buzz in the luxury of our corporate facilities in the stadium’.
‘Race Night’ will commence at 5.30pm and costs only £10pp for Chamber members and £20pp for non members (VAT incl). This includes entry to the stadium and a finger buffet. Booking is essential. To reserve your place(s); please contact Newry Chamber of Commerce on 028 3025 0303; email: info@newrychamber.com or book online: www.newrychamber.com
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Newry firm Malone Lynchehaun, one of Northern Ireland’s fastest-growing cloud accountants, has been recognised at a UK-wide financial technology event in London.
The firm also has an office in Newcastle and was named Xero Partner of the Year for Northern Ireland.
The company attribute much of their commercial success to being early adopters of cloud accounting.
Malone Lynchehaun’s manager, Aidan Malone, attended Xerocon. Commenting on the win, he said “We’re incredibly proud to be recognised at such a high-profile, national industry event. Xero’s online accounting software is easy to use and gives clients more control and visibility of important day-to-day financial activity. This allows us to deliver high level advisory services which small business customers really value.”
Malone Lynchehaun has been a Xero partner since 2013 and a Silver Partner from last year. Aidan said the ability to handle multi-currency transactions was just one of the reasons why Xero was an attractive solution for his firm and its clients. Other cloud accounting firms shortlisted in the Northern Ireland category at the Xerocon awards event included Ross Boyd in Belfast, Exchange Accountants in Belfast and Omagh-based Turbett & Co..
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Newry’s Appletree Dental Care took a ‘Highly Commended’ award at last week’s Irish Dentistry Awards for ‘Most Outstanding Website’.
Practice Owner Katrina Mc Kevitt said: ' We are delighted to have been recognised again at this year's awards. Many of our new clients are attracted to our practice because of the quality of our web site. The photographs of our work and testimonials are reassuring to new patients that here at Appletree, they are going to be in the safest of hands.'
The Dentistry Awards are designed to recognise progress, effort and enterprise in general practice dentistry both North and South of the border. This award follows on from success at last years’ awards where Appletree Hygienist Zara Mc Kibben was recognised as Northern Ireland’s Best Hygienist.
For more information see www.appletreedental.co.uk or follow us on facebook.
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Thanks to a £90,000 investment from Invest NI, Carnbane Business Park in Newry will be the location for 15 new jobs when Carlow-based surveillance company Netwatch Ireland Ltd sets up a remote monitoring and disaster recovery hub in the city.
Netwatch is a global Risk Management Company specialising in providing business continuity, risk management and security services to clients across the globe. Netwatch System Ltd in Northern Ireland is the first operations hub to be established by the company outside of its global HQ and represents a significant investment by the company.
Welcoming the investment Mark Bleakney, Invest NI’s Southern Regional Manager, said: “Netwatch Ireland is an award-winning, high-tech company built on research and development, and a strong customer focus. I’m delighted that it has chosen to establish its new hub in Newry, creating 15 jobs that will pay above the Northern Ireland private sector median.
“Netwatch System Ltd, like its parent company, will have a strong export focus and will deliver a service that is adapted to suit customer needs. I’m confident that it will contribute to the further growth and international standing of the Netwatch brand.”
The new monitoring and disaster recovery hub will deploy the most advanced protection technologies to protect individuals, assets and premises across the world.
Commenting on the investment, Wendy Hamilton Netwatch Ireland’s COO, said: “Netwatch is providing mission critical services to companies around the globe. They depend on Netwatch to ensure they are protected against major incidents, such as a terror attack and more importantly that they can continue to operate their businesses in the event of a major incident whether accidental or as a result of a deliberate act against the company. Establishing a second operations hub means that we can support an expanding client base across Europe, Middle East and Africa and that we can ensure continuous monitoring of their property.
“We are growing aggressively and will double the size of our business, hopefully growing to 50 people in Newry, over the next three years. We chose Newry because it is an ideal location for us, with a cost-competitive business environment and excellent support from Invest NI. The Newry monitoring and disaster recovery hub will initially target the motor dealer industry in the US as well as high net worth individuals in Africa, both key markets for our services.”
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In a deal worth up to £13M Newry company First Derivatives has added data analysis company Prelytix to their portfolio with the aim of boosting their presence in the marketing technology sector.
First Derivatives announced today they have acquired the entire issued share capital of Prelytix Inc. ("Prelytix") for an initial consideration of US$7.5m (£4.9m) and a maximum total consideration of US$20m (£13.0m). The acquisition, which will be earnings enhancing in the Company’s financial year to 29 February 2016, expands the Newry company's presence in the fast-growing marketing technology sector.
Commenting on the acquisition Brian Conlon, Chief Executive Officer of First Derivatives said "Digital marketing is one of a number of vertical markets challenged by rapid growth in data volumes. This acquisition creates a unique end to end technology marketing firm with industry leaders at the helm backed by a software platform and a team of data scientists. This offers the potential to generate significant revenues for the Company. The acquisition of Prelytix follows our £15.3m share placing earlier this month to accelerate opportunities in Fast Data and we continue to target additional vertical markets in which we have the capability to disrupt. We look forward to updating the market in due course."
The acquisition of Prelytix forms part of First Derivatives strategy to penetrate additional vertical sectors, beyond its core in capital markets, using the capabilities of the Delta platform and kdb+. The combination of an established innovative business in the marketing technology sector, along with the capabilities of FD’s software will accelerate the route to market for both companies.
Mike Kelly and Marc Laplante, co-Founders of Prelytix, commented: “The data we provide results in better intelligence about prospects and higher revenue opportunities for our clients. While Prelytix has achieved rapid growth to date, the size of the data sets we analyse and the complexity of the analytics that has to be performed against it to unlock the full value of the data, has been a limiting factor in our ability to scale our business. With First Derivatives and the Delta platform, we look forward to being able to focus on increasing our customer base and providing even more sophisticated analytics to help clients maximise their revenue opportunities.”
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Sinn Féin MEP Martina Anderson has urged businesses in the Newry area to begin preparing robust business cases in order to access a slice of over £208M of new European funding.
“I welcome the fact that over £208m has been made available through the Special European Union Programme Body (SEUPB) as part of their new cross-border co-operation programme,” she said.
“The money, which will be divided into four categories of research and innovation, the environment, sustainable transport and health, will allow over 400 businesses to access money as well as bringing improved environment projects to over 10,000 people.
“I have already brought many interested groups to Brussels over the past few years and will continue to assist these groups in accessing funding.”
Newry and Armagh MLA Mickey Brady said the funding presented a real opportunity for people in the constituency.
“This money will soon be available for small businesses and enterprises along the border region in order to improve employment opportunities as well as environmental projects,” the Westminster candidate said.
“I would appeal to businesses and interested groups across Newry and Armagh to start preparing robust business cases as applications for this money will be very competitive.
“The application process and deadline dates will soon be on the SEUPB website at www.seupb.eu and I would urge businesses to monitor the website so that deadlines are not missed.”
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