Northern Ireland has Highest Retail Warehouse Vacancies in UK

Posted on 30 May, 2016 by Chris Grigorovsky

New research from Trevor Wood Associates found that at the end of 2015, Northern Ireland’s retail warehouse vacancy rate was at 11.9%, the highest in the UK.

Belfast

“The Definitive Guide to Retail & Leisure Parks 2016”, which was released on Wednesday, found that the rate was up from the first half of 2015, where it was at 9.7%.

The main reason for the high vacancy rates, according to the research, was three significant closures of B&Q stores in Belfast, Londonderry and Ballymena.

Senior Partner of Trevor Wood Associates, Trevor Wood, commented: “We studied over 1,500 retail and leisure parks and major retail warehouse developments across the UK, with detailed historic information for every one of the 15,600 retail warehouse units in the country.”

He goes on to say that since the review last year “a small number of new sites have joined the future development pipeline such as the next phase of The Quays Shopping & Leisure in Newry, which could ease the demand for available space.”

Every site in Northern Ireland was monitored, including 46 retail parks.




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants

BA cuts 12,000 jobs, unions hit back

Media Streaming Service See Record Subscriptions

Covid-19 Causes Millions To Claim UK Furlough Scheme