Commercial property vacancy highest in NI

The rate of vacancy of commercial retail units in town centres continues to be highest in Northern Ireland when compared to all other regions on the UK.

Approximately 14% of retail units in Northern Ireland city centres and shopping complexes are vacant; 3% more than the UK average. The figures are based on data provided from town centre managers in 450 areas in the UK, and highlight once again the severity of the economic fall-out in Northern Ireland compared to the rest of the UK. However, one positive statistic shows shopper activity in Northern Ireland is well above the national average, thanks in part to a strong Christmas.

The value of commercial property in Belfast and throughout Northern Ireland has fallen considerably since the heights of the boom, and a number of high-profile properties have been sold at discount prices, while others are failing to attract much interest among purchasers.

If you require legal advice in respect of the sale or purchase of a commercial property in Northern Ireland, contact one of the commercial solicitors at Wilson Nesbitt in Belfast by calling 0800 840 9294.

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