Plans to create a transformative 200,000 sq. ft Grade A professional office development in Belfast city centre that will accommodate up to 2,000 employees are firmly on track for delivery towards the end of 2022, it has been confirmed. In a major confidence boost for...

Belfast’s newest commercial property development Merchant Square was handed over to PwC at the end of June, and developer Oakland Holdings has signed off on a major refinancing of the building. Construction started on Merchant Square in 2018, and the 10 floor building which provides 230,000 sq ft of Grade A office space was funded through a combination of Oakland Holding’s own investment, and loans from Fairfield Real Estate and the Northern Ireland Investment Fund.

Andrew Antoniades reviews the availability, challenges and opportunities for the UK’s development finance market against the twin pressures of Covid-19 and being late in the economic cycle. Development debt will be harder to find and more costly for most, and some...