Sunday 15 November 2009

Dublin shop vacancy rate hits 20%

Retail vacancy rates in Dublin are at 20%, according to property advisers Colliers Jackson Stops, although it says much of this space is "peripheral" or "off pitch".

The agency also says typical lease lengths have dropped dramatically from 25 years to between 10 and 15 years and retailers are securing options to break the lease after five or 10 years.

Evidence is gradually emerging that property investment yields are beginning to stabilise, according to Michele McGarry, an associate director at the firm who says high-street retail yields now stand at 6.5%, with shopping centres at 8%, prime office buildings at 7.5% and industrial units at 8.5%. Yields are the rents expressed as a percentage of the selling price.

Sunday Tribune

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