JCC Property Outlook 2011

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The Isle of Man JCC are proud to present the 2011 Property Outlook with guest Speakers Neil Taggart MRICS and David Watson MRICS, both Directors of Chrystals Estate Agents the longest established Agents on the Island. They are both are qualified Chartered Surveyors and have many years combined experience dealing with Residential and Commercial markets respectively. The presentation will report upon trends during 2010 and outlooks for the year ahead. Whilst focusing primarily on the Isle of Man there will be some discussion on the UK and further afield and how wider markets may affect the Island.

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JCC Property Outlook 2011

  1. 1. ISLE OF MAN JUNIOR CHAMBER OF COMMERCEAnnual Property Outlook 2011 Neil Taggart MRICS DIRECTORDavid Watson MRICS DIRECTOR
  2. 2. INTRODUCTION• Chrystals – Since 1854• Neil Taggart (Residential and Rural)• David Watson (Commercial)
  3. 3. AVERAGE PROPERTY PRICE STATISTICS• CHRYSTALS (DEC 2010) - £272,500• IOM GOVERNMENT (DEC 2010) - £271,000• HALIFAX UK DATA (DEC 2010) - £162,435
  4. 4. CHRYSTALS AVERAGE HOUSE PRICES 2001 - 2010
  5. 5. IOM LAND REGISTRY SALES BY PRICE SECTOR 2010
  6. 6. BUYING or SELLING?• HOMES• INVESTMENTS – CAPITAL GROWTH / YIELD• DEVELOPMENT
  7. 7. OFFSHORE OFFICE TAKE UP
  8. 8. TOP OFFICE RENTS 2010 OFFSHORE COMPARISONS
  9. 9. ESTIMATED MANX OFFICE TAKE UP 2010
  10. 10. NEW DEVELOPMENTS - 2011ST GEORGES STREET12,000 sq FTHOWSTRAKEDEVELOPMENTS SOUTH QUAY 10,000 sq FT QUAY PROPERTIES
  11. 11. AVAILABLE PRE-LETk ST GEORGES STREET 18,000 sq FT HARTFORD HOMES FINCH ROAD 38,000 sq FT LICHFIELD PROPERTIES LTD
  12. 12. AVAILABLE PRE-LET FINCH ROAD 36,000 sq FT DANDARA DEVELOPMENTS
  13. 13. COMPARATIVE VALUE TABLE OFFICES – PURPOSE BUILT INVESTMENT VS OWNER OCCUPIER£375 PSF £320 PSF £300 PSF £18.50 PSF 7%
  14. 14. AVAILABLE OFFICE SPACE COMPARISON START 2010 vs 2011
  15. 15. QUESTIONS AND ANSWERS

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