by Jackie Buckley February-01-2017 in Property
With the imminent departure of the UK from the EU, companies are examining opportunities to relocate within the EU. Ireland would seem to offer a viable relocation option given its vibrant workforce, culture, tax rates, close proximity to the UK and language similarities. The influx of new companies to the city of Dublin in particular will put pressure on the real estate industry and will most certainly drive up prices. For this reason, companies should act fast.
The process of acquiring and leasing property in Ireland is not dissimilar to the system in the UK.
Property can be acquired as a long term investment. Much like the UK, property can be acquired on a freehold or a long leasehold basis.
A more short term alternative is to take an occupational lease of a property. While a company has the benefit of securing a property without the same long term commitment or the upfront payment as on acquisition, if things go well, the company doesn’t have security of tenure that comes with ownership. Most landlords require strong covenants from tenants. It is common for landlords to seek personal or parent company guarantees and this requirement will no doubt become more common with the increase in the number of UK based companies moving to the capital.
For more information about relocating your business in Ireland contact Jackie Buckley at Hayes solicitors jbuckley@hayes-solicitors.ie.
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About the Author
Jackie Buckley
Jackie is Head of the Property team at Hayes solicitors. She is a highly experienced adviser to clients in the banking, public and retail sectors on all aspects of the sale, purchase, leasing, development and financing of properties. She has extensive experience of advising landlords and tenants in insolvency situations and has advised in recent high profile examinerships.