More Woe For Bangor Shopping Complex
A shopping complex in Bangor could soon be up for sale after receivers were appointed by Ulster Bank to manage the asset.
It is understood that Bloomfield Shopping Centre in the Co Down seaside town is now being prepared for sale but business will continue as normal.
Bloomfield is owned by Donegall Place Investments Ltd, a joint venture between Michael Herbert’s Lebreh Ltd and Cafe Vaudeville owner Pat McCormack.
The main shopping centre in Bangor, Bloomfield has tenants including Tesco, M&S, Boots and River Island. Just last year the complex was boosted by the opening of clothes retailer H&M in the complex.
However, shop unit vacancies within the shopping centre have increased due to national closures of brands such as Peacocks, Hanna & Browne and more recently the Early Learning Centre.
Shop unit vacancy rates continue to be a big issue for Northern Ireland’s retail sector.
High streets across Northern Ireland have a high percentage of retail units empty with the shutters firmly down. This is having an obvious effect on footfall figures which means retail outlets are suffering.
“The big challenge in 2014 is addressing our shop vacancy rates and we now have the highest rates in the UK, double the national average,” said Glyn Roberts, NIIRTA CEO.
“Last year’s footfall figures – as reported by my colleagues in the Northern Ireland Retail Consortium – make for grim reading too; six per cent down on 2012. We have a lot of work to do.”
As NR reported late last year, a Lisney Property Report showed that the towns with more empty shops than the previous year included Bangor, Ballymena, Omagh and Newtownabbey.
Belfast has shown a marked improvement with overall vacancies down 5.9 per cent to 17.2 per cent overall.
Business rates continue to be the primary factor for deterioration in the level of occupancy on high streets and shopping centres across Northern Ireland.
