The latter quarter of 2009 and the beginning of 2010 have witnessed more activity in the rental and sales transaction market than the earlier part of 2009. O’Connor Kennedy from their Northern office have been successful in letting a number of retail units in Coleraine, occupying both prime and secondary locations.
“It is great to see the number of Agreed and Let boards going up around the town centre, especially in this testing economic climate” says Henry Taggart who heads the agency department in Coleraine. “Some of our landlords have been quite fortunate in securing tenants, following relatively short marketing periods”.
19 Stone Row in Coleraine was recently let to Cloud 9, a beauty salon who previously traded from 11 The Diamond. 11 The Diamond, has now been let, after a short period on market to a pound retailer trading as “Pound Perfect”. This will be Pound Perfect’s second outlet, following their opening in Lisnagelvin Shopping Centre.
29 New Row has been let to Rutledge as a training outlet together with additional space in the popular River House office building in Waterside. Another busy spot for new lettings has been Railway Road, where S & T Moore are due to relocate to a large newly fitted out retail unit as agreed late in 2009. In addition to this 34 Railway Road has this week been let as an internet café and 48 Railway Road is also now let after only a few weeks of marketing as a hot food outlet. This again is the tenant’s second outlet in the Province.
Michael Burke who is likewise engaged in agency from our Northern office is also delighted with the number of lettings being achieved. “We feel it is important to advise landlords on realistic rental levels, reflective of the current market and also to secure tenants for our clients who have previous experience in operating a business so that “To Let” boards are not reappearing again after say 6 - 9 months” commented Michael.
Our “Sale Agreed” boards are also beginning to emerge in Coleraine town centre, which is a positive sign at the beginning of 2010. “Sales are more difficult to generate in the current market given the lack of confidence since 2007, the lack of available finance and purchasers. We hope that these boards will soon read “Sold” with many more to come during this incoming year” concludes Henry.
Henry Taggart and Michael Burke can be contacted at our Northern office on 028 703 44244.
