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A messy Brexit and outlook for commercial property

Go-getting US law firm Tully Rinckey is hosting a breakfast seminar on Brexit and the commercial property market next week.

The US firm has a Dublin 2 outpost off Lower Pembroke Street, and the Irish team will address the topic of whether Brexit is a calamity or an opportunity, together with other property experts.

Downturn

A messy Brexit could prompt the start of a downturn in British commercial property, observers believe. If that’s the case, should investors be concerned – and could there be any potential benefits to the Irish commercial property market? These are the issues on the agenda at the Stephen’s Green Hibernian Club in Dublin next Thursday, 21 March, at 7.30am.

Highly-respected senior lawyer Thomas O'Malley (pictured) who is the managing partner at Tully Rinckey (formerly of McDowell Purcell), Richard Ball (Hibernia REIT), Willie Norse (CBRE), and Philip O’Sullivan (Investec Ireland) will be addressing the topic of the post-referendum pause in the British commercial property market, as owners and tenants mull over its potential impact on their property portfolios.

A simultaneous decline in demand for retail units, due to the growth of online shopping, will also be examined.

Warning

The Bank of England has warned that prices for offices, warehouses, malls and hotels could drop by as much as 48% in a no-deal Brexit scenario, exceeding the 42% decline following the 2008 global crisis.

For more information and to book, visit www.eventbrite.com.