GDP Partnership launches Commercial Property Fund
NORTHERN Ireland’s property
market received a serious boost today with the launch of a £50 million fund by
leading finance and real estate specialists GDP Partnership.
The funds, which are
available immediately, address the continuing difficulty that businesses in the
sector are having finding funding for viable projects. The funds can be used
for commercial property ventures across Northern Ireland.
GDP Partnership has built a
reputation in the last few years, for providing innovative solutions for clients
through their practice specialities of bank mediation, restructuring, asset
management, corporate finance and real estate advice. GDP sourced and launched the fund in direct
response to the very sobering fact that there is currently little to no finance
available in the local market place.
Conor Devine, Principal at
GDP Partnership said, “This is a very important announcement for the local
economy as a whole. After six years of a
recession and a standstill in terms of the property market, it’s a fantastic
boost for the local economy that our team are now launching this new lending
platform.
“Confidence is returning
slowly but surely to the Northern Ireland economy in the last few months, and
while the property sector experienced one of the sharpest downturns, it is now
finally starting to move forward again. As our banks continue to deleverage and
clean up their own businesses, they have more or less cut off the funding
supply to the local market for property based proposals.
“This £50 million fund should
go some way to boosting the commercial property sector. We look forward to
working with individuals and organisations who have a requirement for finance
for viable deals.”
James Gibbons, GDP
Partnership said, “At GDP we specialise in solving problems and have been
working tirelessly since 2011 to identify new finance platforms.
“This is a significant
opportunity to property owners, developers and their advisers and we want them
to know that GDP Partnership is here to help in a tangible manner that will see
them get their plans off the ground sooner rather than later.”
The fund is supported by UK
based investors who now see Northern Ireland as a place where they should
invest their money. That alone is a
massive statement in terms of bringing confidence to the local market.
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