Monday 27 March 2017

British Real estate chief predicts Brexit gain for Dublin

The CEO of Hammerson, predicts Dublin will be a “net winner” from the UK’s decision to vote in favour of Brexit. Stock photo: PA
The CEO of Hammerson, predicts Dublin will be a “net winner” from the UK’s decision to vote in favour of Brexit. Stock photo: PA
Ronald Quinlan

Ronald Quinlan

The CEO of Hammerson, the British real estate giant which last Friday secured ownership of south Dublin retail mecca, the Dundrum Town Centre, along with several other prime assets from developer Joe O'Reilly's Chartered Land, predicts Dublin will be a "net winner" from the UK's decision to vote in favour of Brexit.

"If one looks at the landscape around Europe, then I think the uncertainty that's been created in the UK and arguably the prospects of lower growth, we think will lead to benefits elsewhere around Europe, and I think that Dublin will be a net winner from what's happened," David Atkins says in an interview in today's Sunday Independent.

"[For] companies looking to relocate out of London, then clearly an English-speaking city such as Dublin with very similar legal and financial set-up would be very attractive," he adds.

Apart from the Dundrum Town Centre, Hammerson and its partner, Allianz, now owns 50pc stakes in Dublin's Ilac Centre and the Pavilions Shopping Centre in Swords, and a development site extending from the former Carlton cinema on O'Connell Street to Moore Street.

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