The future of NI shopping centres: what lies ahead for the sector?

In the next issue of Neighbourhood Retailer, we take an in-depth look at the challenges facing the shopping centre industry and the investments being made to reinvigorate a core part of the Northern Ireland retail market.

Employing thousands of people across Northern Ireland, shopping centres are a critical component of society, also enabling charities to raise money and boost footfall for independent stores. However, it is no secret that the shopping centre model has become tired, facing significant challenges with covid and online shopping.

Speaking to the Chair of Shopping Centres NI, Jamie Bill, we discover what centre managers and investors are doing to invigorate the retail outlets post-pandemic and how enhancing the consumer experience is a vital part of this.

While a Royal Institution of Chartered Surveyors (RICS) report revealed demand for commercial property fell at its sharpest rate in three years, the industrial space remains strong, with the outlook a positive one. The recent acquisitions of Forestside and Bloomfield centres by Michael and Lesley Herbert have also injected much-welcome interest and focus on Northern Ireland’s shopping centres.

Undoubtedly store closures and job losses make headlines, but there is still exciting activity within the sector, with plans for growth and expansion also coming to the fore.

Find out more in the August issue of Neighbourhood Retailer, coming soon!