Retail vacancy rates drop slightly in Coleraine: report

RETAIL vacancy rates in Coleraine have fallen slightly between 2012 and 2013, according to the latest Northern Ireland Commercial Property Report.

It surveyed the retail market in a sample of 17 local towns and cities and determined that 16.9% of shops lie vacant in Coleraine, down 4.3% on 2012.

The report, published by leading commercial property agents Lisney, is the most comprehensive study of the commercial property market in Northern Ireland.

Overall rates in Northern Ireland have stabilised, with 19% of all shops lying vacant across the province.

Declan Flynn, Managing Director of Lisney Belfast, said: ““Belfast has shown the most pertinent improvement with vacancies now standing at 17.2%, a 5.9% decrease on 2012 vacancies. Other towns that have improved since 2012 include Enniskillen, Derry, Coleraine and Portadown. The most negative results were reported by Ballymena which has seen a 10% increase in vacancies, now standing at 27.2%. Bangor, Lisburn and Newry also experienced an increase in vacancy rates.”