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It's been a good year for property sales, according to the Residential team at Best Property Services with residential resale properties checked up 11% on 2017 sales at £18.5M. Part of the growth has been atributed to buyers who work in Dublin with higher earnings.
Adrian Doran, Residential Sales said “We’ve seen an average price increase of 9 per cent across all sectors - detached, semi-detached and apartments- across the year. First time buyers are also benefiting from access to several lending options and are typically pre-qualified with a mortgage promise and deposit in place. With potential buyers out weighing current supply this has resulted in competitive bidding becoming more common place and some properties achieving more than guide price.
“The other notable trend we’ve tracked this year in an increase in the number of local buyers working in Dublin and benefitting from the strong labor market and current favorable exchange rate many have a higher earning potential so that’s contributing in part to the 9 % increase and demand for both starter homes and clients looking to trade up.
The investor market also remains strong driven by the strong local rental market particularly in the urban areas and rents have shown approx a 7% increase in the last year.
With the burgeoning new build market, developers are keen to launch new phases of existing schemes, but planning is sluggish. Siobhan Philips, Best New Homes advisor said that a number of new schemes have launched this year. “These offer significantly more new build properties in Newry, Bessbrook and Warrenpoint namely Hillcrest Village McKnight’s Hill, Woodvale Derrymore Road, Ballyblaugh Meadows, Newry and Seafields Court.
Further releases in Woodvale and Hillcrest Village, Bessbrook are expected in the New Year,” Siobhan adds.
Land
Farmland continues to be a sound long-term investment and a shelter for some buyers from Inheritance Tax Garry Best reports.
“Looking at the average price per acre for the six largest farms sold since January 2018 - approximately 380 acres – including good quality farmland, the average sales figure of £14,500 shows a very positive 10% rise on the2017 average,” Garry said.
Garry reports that demand for rural building sites is increasing gradually with average price achieved rising from £57,500 in 2017 to £68,000 in 2018 – representing an 18% rise.
Commercial
The big story in terms of commercial property in Newry is the unprecedented volume of industrial sales during 2018 said Commercial Director Ciara Aiken.
“Unlike previous years there have been several large Industrial sales transactions on and off the market in Newry, Lurgan and Rathfriland. There is pent up demand for industrial space for sale and to let given that there has been very little industrial development untaken in the last decade.”
This has been a good year for commercial sales and lettings in general with a rise in transaction levels by 15% with more readily available funding, buoying up that figure,” Ciara added.
Demand for office space remains consistent whilst the retail market remains challenging, however, there are some highlights including some sizable retail lettings during the year including NI Furniture Retailer, House Proud, who have just opened a 10,000 sq. ft store in Newry’s main commercial thoroughfare, Hill Street – representing the largest letting on Hill Street since 2012.
There will be exciting start to 2019 on Merchant’s Quay in Newry City as Custom House as Bests Commercial team has negotiated a long term let of a modern glazed Ground Floor unit to a well-known food retailer with other tenants currently under discussion and further news expected in the new year.
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A Warrenpoint family run clothing store E.O’Hares has announced a retirement sale after 73 years in business, ending a lengthy and memorable chapter for the O’Hare family.
Spotting a gap in the market for a local quality drapery store, the late Edward ‘Teddy’ O’Hare opened E.O’Hares at 15 The Square, Warrenpoint in 1946. After raising the necessary capital he reinvested in the area by purchasing their current premises at 17 Church Street Warrenpoint in 1954, running the two shops concurrently until 1962, before centralising the premises to where they are still in business today.
Since Teddy’s sudden passing in 1981, three of his sons Francis, Pat and Gervase, fondly known locally as ‘the boys’, have been at the helm, building the business to become one of the largest family run clothing storesalong the South Down coast.
With community always at the heart of its operations, E.O’Hares re-invested in their store undertaking extensive renovations in 1983 and then again in 1995opening a new 1,800 square foot floor dedicated specifically for ladies clothing and bringing the total floor space for men’s and ladies wear to an astonishing 4,000square foot.
Francis O’Hare said, “We were born into this business – and as many would say, it’s in our blood. Growing up my three brothers Pat, Eamon, and Gervase, my sister Teresa, and I all worked with our Daddy in the shop – after all it was the front room of our home. It was our norm and we loved how he worked tirelessly trying to find the perfect item for each and every customer who came through the shop door – something we pride ourselves in to this day. We were thrilled to be a part of his dream, which became our dream. We became not only a shop but a real hub for the community – which has always been important to us.
“There have been many changes over the years as we’ve expanded and developed the business however the heartbeat of E.O’Hares has always remained – quality clothing and exceptional personal service with the customer central in all that we do.
“However as they say, all good things must come to an end. After 73 years in business together, as a family, we have decided that it is time to take things a little easier. We begin 2019 with our RETIREMENT SALE with all goods greatly reduced.
“To our suppliers, local businesses, the community and of course our wonderful and loyal customers over the last 73 years – we’ve had quite a journey. We are so proud to have stayed in business for so long and to be a part of such a vibrant and caring community...and of course, we’ve enjoyed the craic and banter every step of the way. On behalf of Pat, Gervase, myself, and the wider family I’d like to thank each and every one of you who have been part of this chapter with us.”
E.O’Hares retirement sale is now on with top quality brands for all occasions greatly reduced. Brands within ladies wear include Gerry Weber, Betty Barclay, EugenKlein, Adverntures Des Toiles, Kirsten, Toni Trousers, Frank Walder, Just White, Taifun as well as Gabor, Eccoand Rieker footwear. Brands within gents wear include Bugatti Clothing, Fynch Hatton, Magee, Remus Meyer, Eterna, Barker, Duck and Cover, Seidensticker, Daniel Grahame as well as Bugatti, Ecco and Paul O’Donnell Footwear.
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A fire at the Belfast Primark store in August inadvertantly increased visitors numbers at Buttercrane Shopping Centre in the final quarter of 2018. Centre trading was positive in Buttercrane over the final quarter with some stores recording their top trading figures ever for the month of December.
Peter Murray, Centre Manager reports: “Some stores performed particularly strongly and recording their best ever December trading figures in Buttercrane Centre, which is great news for the retailers concerned, Buttercrane Centre and indeed Newry itself.”
There were a number of factors which positively impacted on trade in Newry particularly in November and early December, including the strong Euro and resulting cross border trade.
“The impact of the Primark fire in Bank Buildings Belfast was felt widely by Belfast High Street traders but as a by product of that tragedy, many displaced Primark fans visited Buttercane, Newry – as it is currently the largest Primark in NI,” Peter says.
On line shopping continues to be a factor for all retailers, regardless of their location.
“It’s a challenge Buttercrane and our retailers continue to address with many offering click and collect in store and Buttercrane Shopping Centre have recently installed click and collect lockers for Amazon and other online deliveries, so that customers can collect their orders conveniently whilst they are in Centre and no longer miss deliveries.
Looking to 2019, Buttercrane continues to develop an appealing programme of events, mall activities, investing in customer services, award winning bathroom and parent and child facilities, offering all weather parking and ample onsite parking to make the Buttercrane Shopping Centre experience positive as we start a new trading year,” Peter concludes.
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Deli-Lites Ireland is investing in a new innovation hub which will include major refurbishment work and new offices at its headquarters in Warrenpoint.
Twenty new full-time jobs will also be created to meet the firm’s international growth plans.
The innovation hub is a unique business space which will be used for product-development workshops and demonstrations with clients. The new creative area also replicates the retail environment to showcase the company’s growing product range, which has grown to include sandwiches, wraps, bespoké bowls, juices, salad bowls, flatbreads and hot eats, as well as products from the in-house state-of-the-art artisan bakery.
The innovation-led business strategy will see Deli-Lites Ireland expand into new international markets with export orders for its baked-goods and hot eats currently in the pipeline to Germany, Holland, and the Middle East - particularly Dubai - where customers are looking for high-quality products from trusted suppliers.
Speaking about the impact the investment will have on the business, CEO, Brian Reid, said “As a chef-led business which is focused on constantly developing new and exciting products and flavour combinations, innovation is at the heart of everything we do. This latest investment highlights our commitment to continued growth and development, and our emphasis on client-focused servicing, which we believe has helped us grow and become a trusted supplier to so many customers.
“Utilising the skills of our product development team, we work in partnership with our clients to create products which deliver specifically for their needs. The innovation hub gives us the space to expand this process and allows our customers to get a real feel for the retail experience and product offering, which can be adapted to appeal to all tastes and dietary requirements, including vegan, dairy free, low carb, high protein and gluten free.
“We’re excited about the next phase in the business, which is only possible thanks to the great team right across the organisation, from production operatives to delivery drivers. It’s this commitment to our people and their continued hard work which will enable us to maximise the hub’s potential and deliver even more award-winning products, use ingredients from trusted local suppliers, to a global customer base.”
Deli-Lites Irelandwas founded by Brian and Jackie Reid in 1999 and employs over 250 people just outside Warrenpoint. The business produces around 15m hand-made sandwiches, wraps and salads annually and distributes across Ireland. Its customers include major retailers such as Sainsbury’s, Debenhams, Boots and Applegreen, as well as local food service companies.
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A Newry based construction startup is already planning for expansion after a busy first year in business, despite Brexit concerns.
Contracting Management Development (CMD) specialises in construction and fit-outs and they have seen their turnover push into the multi million bracket, allowing them to open two offices in Newry and Dublin and recruit ten new members of staff.
Since its inception, CMD has won a number of high profile contracts including the redevelopment of FBD Insurance's high street outlets as part of their nationwide re-brand, including their flagship office on Baggot Street, Dublin.
Other high value contracts include a 37,000 sq ft fit-out in Belfast's City Quays 1 for multinational company TSYS and a 5,900 sq ft fit-out for CDK Global at the Citywest Busniess Campus in Dublin.
Despite growing concerns over Brexit, the border based firm has ambitions to grow substantially in the coming years.
John O’Hanlon, Managing Director said: “There is no doubt that Brexit is a massive concern for startup companies like ourselves, based on the border.
However, we are hopeful that we will continue to grow the business by implementing a strategy which sees the firm entering new markets and innovating to offer service levels over and above our competition.”
CMD plan to recruit additional staff this year and invest in new construction software technology which will enable them to offer their specialist services not only to clients in Ireland and the UK, but also to those further afield.
Niall Finnegan, Managing Director added: “Our first year has been hugely successful for us and despite the challenges we potentially face in our area, we are determined to continue expanding our business and offer jobs to local people.
We really enjoy working together with Irish firms such as FBD Insurance and we hope that having offices on both sides of the border will allow us to continue doing so.”
To learn more about CMD check out www.cmdconstruct.com
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A partnership between local food-to-go firm Around Noon and Clandeboye Estate in Bangor has seen a 200% increase in yoghurt sales in the past year for the Newry firm.
Around Noon entered into a partnership with north Down-based Clandeboye Estate late in 2017 to produce yoghurt for its growing range of products.
Now, a year into the partnership, the two firms have grown business significantly and Around Noon supplies its range of yoghurts and filled “top hats” – fruit compote and granola – to customers and major brands operating across Ireland and the UK.
Dave Graham, Executive Chef at Around Noon, says: “We have a very successful partnership with Clandeboye Estate. We’ve created a product that tastes great and has proven very popular with retailers and their customers. To maintain quality standards, we are selective of the suppliers we work with. Clandeboye Estate has been an excellent fit, being a local company and supplying an all-natural, high-quality product. As a small batch producer, they can also work with us collaboratively to create new and bespoke products for our customers.”
Bryan Boggs, General Manager at Clandeboye Estate spoke of the movement towards ‘clean’ products, using whole milk and minimal additives. "We take pride in our 100 per cent all-natural yoghurt which has no gelatines, thickeners, emulsifiers or additives of any kind and I think this is an important factor resonating with consumers and helping drive demand.”
In recent months a new packaging system has also been rolled out to extend the shelf life of the range to 21 days.
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For the fifth consecutive year, JMK Solicitors have retained their No.1 position as the leading personal injury law firm in Northern Ireland handling more cases locally than any other legal firm.
The Newry and Belfast based legal firm handled a record 1,544 separate personal injury cases registered in 2018, an 8% growth on the previous year and more than double as many cases as its nearest competitor, according to recent figures obtained from the Compensation Recovery Unit, a division of the Department for Communities.
The company credited its continued growth to a programme of investment in staff, technology, brand awareness and exclusive focus on personal injury and road traffic claims. Overall staff numbers have grown to 68, which has more than doubled over the last four years.
Maurece Hutchinson, JMK Solicitors’ Managing Director, said “We are pleased to have consolidated our position in the local market. We are unique in that we only handle personal injury and road traffic accident claims. This complete focus means our staff have built up significant specialist skills and knowledge in this area of law. We invest a lot in training to ensure we can continue to help every client fully and fairly recover their losses with the least possible stress. We are very proud that 99% our clients would recommend JMK to a friend.
In 2017, JMK achieved the Lexcel accreditation, which is a Quality Mark for the legal profession administered by the Law Society and recognises firms which achieve excellence in legal practice management and client care.
Established in 2003, JMK Solicitors assist clients from all over Northern Ireland. To contact JMK, please call 028 9032 0222 or visit www.jmksolicitors.com
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Newry Chamber of Commerce and Trade have released a statement expressing disappointment at being excluded from the UK Prime Minister’s visit to Northern Ireland.
Speaking on behalf of the Chamber Colm Shannon, Chief Executive Officer of the Chamber said:“At our board meeting today, the board was extremely disappointed that the Chamber which represents many border businesses, large and small, had not been invited to meet the PM on her visit to Northern Ireland. It will be businesses in the border that will be impacted most and it is unacceptable that the PM didn’t take the opportunity to listened to the concerns of border businesses.
“When the PM needed the support of businesses in Northern Ireland, Newry Chamber of Commerce and Trade met with her in Downing Street to lend our support.
“As a Chamber we have a strong voice and we will continue to argue strongly for our members to prevent a hard border. An open border is essential for our local businesses and there is a real fear we are heading for a no deal.
“We expect the Prime Minister to honour her commitment and deliver a deal which avoids a hard border.
Newry Chamber which represents nearly 200 businesses in this border area located just 4 miles from the future border with the EU and has been supportive of both the Withdrawal Agreement and the Backstop.
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Buttercrane Shopping Centre is marking 30 years in the heart of Newry city. It was the first shopping centre in Newry, opening its doors in November 1988 and in 30 years the centre has changed dramatically, the ebb and flow reflecting the changes on the High Street.
Located alongside the historic Newry Canal in the centre of the city, the site on which Buttercrane is built, has been at the centre of local commerce for centuries - home to a brewery, a morgue and a timber yard throughout its history.
In 1988, Buttercrane Shopping Centre opened, representing a massive investment in the then ‘town’, which was very different to the vibrant retail centre that it’s known as today.
In 1988, Newry was under invested and had a 28% unemployment rate. Buttercrane opened on 11 November, offering the first modern retail space in a town centre location.
During those 30 years, Newry has developed a well-deserved reputation as one of the best provincial shopping-towns in Northern Ireland, attracting large numbers of shoppers from as far away as Cork.
Buttercrane Shopping Centre is a major employer and today employs some 900 staff, contributing circa £13m to local economy annually.
Originally many of the store managers were from Belfast and travelled to Newry daily. Now all the store managers are from the Greater Newry region, many of whom are long serving staff who have developed their retail careers in Buttercrane Shopping Centre.
Peter Murray is one such employee and has been the centre’s manager over 30 years –steering the centre through its early years and later evolution into the flagship retail centre it’s become.
Buttercrane’s own history is a microcosm of the changing face of the Irish high street.
“Originally when we opened we had two supermarkets, no mobile phone shops and a limited food and beverage offering,” Peter explains.
“The Centre was home to some of Northern Ireland’s most famous high street brands which have disappeared in recent years such as Wellworths, Stewarts Supermarkets, Connors Chemists, Options, Adams Childrenswear, Virgin music, Etam, Chicago and Caroline Music.
“Change is always at the heart of the retail sector and as a Centre we continue to adapt, evolve and reinvent ourselves. We’re outward looking and progressive and that has stood the test of time.
“We’ll continue to rise to new challenges, whatever those may be, with social media, offering new Click & Collect services, varying our retail offering and actively working with new brands coming into the Irish/UK retail market,” Peter adds.
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