Scarcity Of Stores Still Biggest Challenge For Retail Property Sector
Published on May 3 2017 11:11 AM
In the retail property sector, the biggest challenge continues to be a scarcity of stores to match volumes of occupier demand for established schemes and prime high street locations, CBRE Irelands recently published, bi-monthly research report shows.
It also indicated that the length of time that it is taking to get transactions across the line, still appears to be another challenge for the industry.
One of its key findings showed that although some UK occupiers are reluctant to make location decisions until after the UK election next month and fashion retailers are not expanding to any great degree, service industry tenants and those specialising in food & beverage and beauty remain active and 'there is strong demand at present for premises from service occupiers.'
The report also outlined that the demand is particularly strong for good neighbourhood schemes and well-established shopping centres.
On a positive note, the research concluded that the core retail sales remain buoyant year-on-year, footfall is healthy and many retailers are reporting good levels of activity.
The report also highlighted that there has been good demand for investment opportunities in Cork of late as evidenced by the recent sale of Merchant’s Quay Shopping Centre for €13.7 million and the off-market sale of a retail unit on Patrick Street in the city for c. €4 million.
© 2017 - Checkout Magazine by Donna Ahern