The Irish in Britain, including those of Irish descent, make up a significant part of the UK population. Here, you will find news, entertainment, events, sports and features from the local Irish Post newspaper.

LONDON is being shunned by Irish investors as they flock instead to the North West of England.

The North West’s commercial property market saw a 40 per cent increase in foreign investment during 2006 according to a new report.

The study, by property agency DTZ, also shows that one third of British commercial property market acquisitions in 2006 were made by overseas investors notably Irish.

The report stated: “Overseas investment into UK commercial property highlights that overseas investors splashed out £14billion on British commercial real estate, an increase of 10 per cent on last year.

“London remains the favoured location, however the North West benefited from a 40 per cent increase in foreign investment activity which represents over £330million.”

But they have not pulled fully out of London and the city is still a serious target for many Irish investors.

Trevor Gill, associate director, International Investment at DTZ Sherry Fitzgerald, said: “Whilst some Irish investors are looking elsewhere for commercial property investments, overall there appears to be little sign of a

fall-off in demand from Irish investors who are still looking to take advantage of the growth prospects for London.

“The drivers for this demand continue to include the positive rental growth story for the UK, a lack of available product in the Irish market, the availability of finance from Irish lending institutions for UK property transactions and a familiar market.”

Derek Quinlan recently headed a consortium of investors which snapped up a huge chunk of prime Knightsbridge real estate making him one of the biggest landlords in Britain.

The estate situated between Harrods and Harvey Nichols covers 3.4 acres with an estimated value of £500million.

Quinlan and his fellow investors were reputed to have outbid the Abu Dhabi Royal Family.

The Knightsbridge deal has been viewed as a high water mark for retail property deals in Britain.

London’s Covent Garden Market was also the subject of an acquisition bid by David Arnold, an Irish property developer.

His investment company D2 Private allegedly bid about £400million for the property but lost out in the race to Liberty, whose wholly-owned subsidiary Cash & Counties paid cash for the property.