Farmers invest in Irish commercial property - commercial mortgages

31 May 2007

A burgeoning trend has emerged of farmers investing in Irish commercial property, putting money into prominent regions in Northern Ireland.

Demand has grown among businesses and organisations, such as those with commercial mortgages, looking for prime commercial property in Northern Ireland, focusing on areas such as Belfast.

According to off farm investment specialists Farrelly and Mitchell a rising number of client farmers are setting their sights on opportunities in the region, underlining strong demand.

"The trend we are seeing in the north for rapidly growing property prices is encouraging investment from our clients," managing director Malachy Mitchell told the Irish Examiner.

"We therefore see Northern Ireland well aligned with our aim of identifying niche and potentially premium investment opportunities."

Mr Mitchell highlights recent reports from Halifax showing an annual price rise of 37 per cent in Northern Ireland compared to 11.1 per cent in the UK.

The latest Global Market Rents Report from CB Richard Ellis ranked Dublin as ninth overall in the chart of most expensive office rents, worldwide.