BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for...

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BCCM SR No. 122 Vacant Units Report – October 2017 BELFAST CITY CENTRE VACANT UNITS REPORT October 2017

Transcript of BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for...

Page 1: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

BELFAST CITY CENTREVACANT UNITS REPORT

October 2017

Page 2: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

Belfast City CentreVacant Units Report – October 2017

BCCM SR No. 124

Eimear McCracken*

*c/o Belfast City Centre Management2nd Floor Sinclair House 95 – 101 Royal Avenue Belfast BT1 1FE

1. Introduction Page 1 – 3

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Page 3: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

1.1 Belfast Vacancy Rate Figure One: Belfast vacancy rate comparative July 15 - October 17 Table One: Belfast vacancy rate comparative July 15 - October 17

1.2 National Vacancy Competitive Rates Figure Two: Historical comparative data for Belfast, Northern Ireland & UK 16 - 17 Table Two: Belfast, Northern Ireland & UK comparative vacancy data July 16 - Oct 17

1.3 Comparative Regional Vacancy Rates Figure Three: Belfast vacancy levels compared with other regional towns

1.4 Comparative Average Vacancy Rate Table Three: Belfast average vacancy rate 2015 - 2017 so far

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2. Results

2.1 Total Ground Floor Units

Pages 6 – 13

Figure Four: Belfast vacancy total aggregate (overall % comparable) July 16 - Oct 17Table Four: Belfast vacancy total aggregate (overall % comparable) July 16 - Oct 17

2.2 Shopping Centre/Malls Table Five: Belfast Shopping Centre Vacancy Rates Oct 2017

2.3 BCCM Geographical Area Breakdown

2.3.1 Highest Street Vacancy Table Six: Top ten streets with the highest vacancy Oct 2017

2.3.2 Highest No Of Independent Retailers By LocationTable Seven: Top 10 locations with highest number of independent retailers: Oct 2017

2.3.3 100% Occupancy Table Eight: Streets with no VGFU Oct 2017

2.4 Changes to Vacancy Rates

2.5 Independent Retailers In Shopping CentresFigure Five: Belfast Shopping Centre Independent Retail Units Oct 2017Table Nine: Belfast Shopping Centre Independent Retail Units Oct 2017

2.6 New and Closed Businesses Table Ten: Businesses Closed July 17 – October 17 Table Eleven: Businesses Opened July 2017 – October 2017

3. Bid Area

Table Eleven: BID Ground Floor Vacant Units: October 2017

4. Conclusions

5. Recommendations

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Page 14 - 15

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6. Appendices

Appendix One (BCCM Boundary)Appendix Two (BCCM Streets) Appendix Three (BID One Boundary)

Pages 18 - 21 18 19 – 20 21

Page 4: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

Contents

1. Introduction

1.1 Belfast Vacancy Rate

The results of the October 2017 survey recorded the ground floor vacancy rate within the BCCM geographical area as decreasing marginally by 0.73% to 16.64%; this equates to 12 property units in real terms.

The graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017 respectively. The vacancy range during this period has been 17.06% at its lowest (in January 2017) to its highest at 18.97% (in July 2015). October 2017’s vacancy rate of 16.64% is a decrease on both the September 2015 and September 2016 results respectively.

Jul-15 Sep-15 Dec-15 Apr-16 Jul-16 Sep-16 Jan-17 Apr-17 Jul-17 Oct-170.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

16.00%

18.00%

20.00%

Belfast Vacancy Rate

Figure One: Belfast vacancy rate comparative July 2015 –October 17 (Source BCCM)

Date Jul-15 Sep-15 Dec-15 Apr-16 Jul-16 Sep-16 Jan-17 Apr- 17 Jul-17 Oct-17

Vacancy 18.97% 18.89% 17.80% 18.40% 18.81% 17.94% 17.06% 17.77% 17.37% 16.64%

Table One: Belfast vacancy rate comparative: July 2015 – October 17 (Source BCCM)

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Page 5: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

1.2 National Vacancy Comparative Rates

Springboard’s research, published in October 2017, takes hand counted data from across mainland GB and Northern Ireland to provide a benchmark against which towns can measure themselves against (Figure Two). As noted in previous BCCM vacant unit reports, Belfast remains both above the UK and the Northern Ireland averages respectively. Belfast falls short of the UK benchmark by 7.3% and against the Northern Ireland benchmark by 1.44%.

Apr-16 Jun-16 Sep-16 Jan-17 Apr-17 Jul-17 Oct-170.00%2.00%4.00%6.00%8.00%

10.00%12.00%14.00%16.00%18.00%20.00%

Belfast, NI & UK Vacancy Rates

Belfast Northern Ireland UK

Figure Two: Historical comparative data for Belfast, NI and the UK 2016 - 2017 (Source: Springboard)

The table below identifies the quarterly vacancy rates for Belfast, Northern Ireland and the UK from July 2016 to October 2017.

Region / Date Jul-16 Sept-16 Jan-17 Apr-17 Jul-17 Oct-17

Belfast 18.81% 17.94% 17.06% 17.77% 17.37% 16.64%

Northern Ireland 15.3% 14.5% 14.5% 14.4% 14.3% 15.2%

UK 10.1% 9.5% 9.5% 9.3% 9.6% 9.3%

Table Two: Belfast (Data collected by BCCM), Northern Ireland and UK (Data collected by Springboard) comparative vacancy data July 16 – October 17.

According to Lisney’s 2017 outlook ‘We see prime Belfast zone A rents improving from the current level of £130 per square foot and vacancy rates continuing to reduce.’

1.3 Comparative Regional Vacancy Rates

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Page 6: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

Compared to other regional towns, Belfast has a higher vacancy rate than Cookstown, Coleraine and Ballymena. Belfast has performed better than two towns this quarter; Larne and Antrim. (Figure Three). Regional towns such as Cookstown, Coleraine, Ballymena, Belfast, Larne and Antrim are all above the UK average of 9.3% as recorded by Springboard.

Cookstown Coleraine Belfast Ballymena Larne Antrim0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

16.00%

18.00%

20.00%

10.30%11.30%

16.64%

13.30%

18.80% 18.70%

Comparative Regional Towns

Figure Three: Belfast vacancy levels compared with other regional towns (Springboard: October 2017)

1.4 Comparative Average Vacancy Rates

The current average vacancy rate for Belfast represents a slight decrease of 0.98% from 2016, however there has only been three audits for the year so far. Compared to 2015 the average vacancy rate also decreased by 0.93%.

Belfast’s average vacancy rate for 2017 is 17.21%. When comparing this figure to the Northern Ireland average year to date of 14.47%, Belfast is above the Northern Ireland average by 2.74% and also above the UK average year to date (9.4%) by 7.81%.

 Year Average Vacancy Rate 2015 18.33%2016 18.38%2017 17.21%

Table Three: Belfast average vacancy rate 2015 - 2017 so far

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BCCM SR No. 122Vacant Units Report – October 2017

2. Results

2.1 Total Ground Floor Units

Overall there are 1184 ground floor units identified within BCCM’s geographical area (Appendix One). In real terms this is a decrease of 19 units overall on the last survey. This is due to demolition and the reduction of units from the Spires Mall complex which has now been turned into a conference centre. The results of this survey are shown against the findings from the previous four reports (Figure Four). A total of 197 vacant units were recorded in July 2017 (Appendix Two) which is a welcomed decrease of 12 vacant units in real terms from the August 2017 survey. The vacancy rate for October 2017, consequently, is recorded as 17.37% for Belfast City Centre which is a decrease of 0.73% on the previous report.

Apr-16 Jun-16 Sep-16 Jan-17 Apr-17 Jul-17 Oct-1715.50%

16.00%

16.50%

17.00%

17.50%

18.00%

18.50%

19.00%

Total Aggregate (Overall %)

Figure Four: Belfast vacancy total aggregate (overall % comparable): April 16 – Oct 17

 Month Total Vacancies Total Aggregate (Overall %)July 16 234 18.81%September 16 217 17.94%January 17 205 17.06%April 17 212 17.77%July 17 209 17.37%Oct 17 197 16.64%

Table Four: Belfast vacancy total aggregate (overall % comparable): July 2016 – Oct 2017

The results in the table above show Belfast’s vacancy rate since July 2016, with the overall average sitting at 17.59% and an average of 212 total vacant units.

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Page 8: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

2.2 Shopping Centre / Malls

As per previous reports the figures related to shopping centres / malls were established during the survey. The changes from the August 2017 report to the October 2017 report are as follows:

CastleCourt’s vacancy rate has increased by 1 to 16 vacant units. Great Northern Mall’s vacancy rate remains the same with 3 vacant units Spires Mall is no longer part of the audit as the unit has now become a

conference and exhibition centre with no retail units. Victoria Square’s vacancy rate has increased by 1 unit to 13.

Name of Centre Number of Vacant Units

Vacancy (%) Number of Shop Units

Independent Retailers (%)

CastleCourt 16 20.78% 77 14.75%Great Northern Mall 3 16.66% 18 60.00%

Victoria Square 13 14.29% 91 5.13%

Table Five: Belfast Shopping Centre Vacancy Rates: October 2017

CastleCourt has the highest number of vacant units amongst the four centres with sixteen units (20.78%).

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Page 9: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

2.3 BCCM Geographical Area Breakdown

Within the BCCM geographical area the top ten streets with the highest vacancy (Table Five) have been identified. The ten streets made up of the most independent retailers (Table Six) and the streets with 100% ground floor occupancy (Table Seven) have also been identified.

2.3.1 Highest Street Vacancy

 Street Name No. VGFU No. GFU % Vacancy Rate

1. Great Victoria Street 20 62 32.25%2. Royal Avenue 9 53 16.98%3. North Street (lower) 8 32 25%4. North Street (upper) 8 17 47.06%5. Queen Street 7 25 28%6. Wellington Place 7 27 25.93%7. Donegall Street (upper) 7 25 28%8. Lower Garfield Street 6 8 75%9. Donegall Street (lower) 5 29 17.24%10. Chichester Street 4 24 16.67%

Table Six: Top 10 streets with the highest vacancy: October 2017

2.3.2 Highest Number of Independent Retailers by Quantity & Location

Table Seven identifies locations with the highest numbers of independent retailers.

Castle Street has the most independent retailers within the BCCM geographical area with 28 independent retailers. Smithfield is a permanent indoor market which contains a range of shops and cafes. It is included in this section of the report as, significantly, it is 100% occupied by independent businesses.

A total of 549 (55.62%) of ground floor-based businesses within the BCCM geographical area are independently owned. This figure remains the same from the July 2017 report.

 Street Name No of Independent Retailers

% of Independents

1. Castle Street 28 75.68%2. Smithfield 26 100%3. Royal Avenue 25 56.82%4. Dublin Road 24 70.59%5. Great Victoria Street 23 54.76%6. Church Lane 21 95.45%7. Donegall Street (lower) 19 79.17%8. Donegall Street (upper) 17 94.44%9. North Street (lower) 16 66.67%10. Queen Street 15 83.33%

Table Seven: Top 10 locations with highest number of Independent retailers: October 20172.3.3 100% Occupancy

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BCCM SR No. 122Vacant Units Report – October 2017

The survey also identifies streets which have no vacant ground floor units (VGFU).

 Street Name 100% Occupancy GFU

Amelia Street YArthur Square YBank Street YBankmore Square Y Bridge Street YBruce Street YChapel Lane YChurch Street YClarence Street West YCrown Entry YDonegall Square North YDonegall Square West YFisherwick Place YFountain Lane YFranklin Street YHarmony Street YHoward Street YJames Street South YJoys Entry YKeylands Place YLibrary Street YLinenhall Street West YLittle Donegall Street YPattersons Place YSkipper Street YUnion Street YUpper Queen Street YWellington Street YWilliam Street South YWilsons Court YWinecellar Entry Y

Table Eight: Streets with no VGFU: October 2017

A total of 32 streets are fully occupied within the BCCM geographical area. The total number of streets within the area is 81 which means that 39.50% of streets have 100% occupancy of their ground floor units. However, it is worth noting that 10 of these locations contain only 1 ground floor unit, which is occupied, resulting in 100% occupancy.

2.4 Changes to Vacancy Rates

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Page 11: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

The breakdown in vacancy rates (by street) can be seen in Appendix Two. Direct comparisons with the previous report suggest that there has been small change in most locations.

There has been no change at:

There have been decreases at:

There have been increases at:

Amelia Street Arthur Square Bank Street Bankmore Square Bridge Street Callender Street Castle Lane Castle Place Chapel Lane Church Lane Church Street Clarence Street West College Court College Square East Cornmarket Crown Entry Donegall Place Donegall Street (lower) Donegall Square East

Ann Street Arthur Street Bruce Street Castle Street Chichester Street Clarence Street College Street Donegall Street (upper) Donegall Square South

Bedford Street Berry Street Brunswick Street CastleCourt College Court Dublin Road

Donegall Square North Donegall Square West Downshire Place Fisherwick Place Fountain Lane Franklin Street Great Northern Mall Great Victoria Street Gresham Street Harmony Street Howard Street James Street South Joys Entry Keylands Place Library Street Linenhall Street Linenhall Street West Little Donegall Street North Street (upper)

Pattersons Place Pottingers Entry Queen Street Queens Arcade Little Victoria Street Lombard Street Lower Garfield Street Shaftesbury Square Skipper Street Smithfield Union Street Upper Church Lane Upper Queen Street Waring Street Wellington Street William Street South Wilsons Court Winecellar Entry Winetavern Street

Fountain Street North Street (lower) Royal Avenue Shaftesbury Square Smithfield Square North Union Street Upper Arthur Street

High Street Linenhall Street Little Victoria Street Rosemary Street Upper Queen Street Victoria Square Wellington Place

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Page 12: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

2.5 Independent Retailers in Shopping Centres

As per previous reports the percentage and number of independently owned businesses within shopping centres has also been calculated. Since the April 2017 survey there has been decreases in independent retailers in three shopping centres across the city centre. These can be seen below:

CastleCourt (+1 unit) Victoria Square (+1 unit)

Great Northern Mall remains unchanged from the previous report with a 60% independent occupancy rate (9 units).

CastleCourt Great Northern Mall

Spires Mall Victoria Square0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

% Independents

Figure Five: Belfast Shopping Centre Independent Retail Units: July 2017

Name of Centre Number of Independents % IndependentsCastleCourt 9 14.75%

Great Northern Mall 9 60%Victoria Square 4 5.13%

Table Nine: Belfast Shopping Centre Independent Retail Units August 2017

2.5.1 As referred to in 2.3.2 within the BCCM geographical area 55.62% of ground floor units are independently owned. Comparing this figure to the percentage of independent units for Northern Ireland of 54.6%, Belfast is made up of more independent retailers by 1%.

Belfast City Council recognises that independent businesses are the mainstay of Belfast’s identity and local economy and the need to support independent businesses by providing ongoing support programmes on a regular basis. Belfast City Council programmes currently open for recruitment are:

High Street Linenhall Street Little Victoria Street Rosemary Street Upper Queen Street Victoria Square Wellington Place

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BCCM SR No. 122Vacant Units Report – October 2017

Go for It: Designed for individuals looking to become their own boss. The programme offers free advice and mentoring with a business advisor, best practice guides, tools and more.

Go Social: Support to start your new social enterprise or cooperative: The programme uses innovative approaches to finding and exploring new ideas that could support individuals in developing a new social enterprise or cooperative.

Mystery Shop opportunity: Opportunity to assess your customer service. Belfast based retailers, hospitality and tourism related businesses are offered a free assessment of their customer service. Belfast City Council arrange a mystery shop to assess your service levels, provide advice and guidance based on that experience and then carry out a final mystery shop to gauge if standards have improved.

Belfast City Council also runs one day workshops and events for businesses within the Belfast City Council area such as Social Spark for social enterprises and Belfast Entrepreneurs Network.

Small Business Saturday was launched on Thursday 26th October this year. The Small Business Saturday bus was at City Hall were they held workshops and facebook live interviews with independent businesses local to Belfast. Small Business Saturday was held on 2nd December 2017 when consumers are encouraged to ‘shop local’. Businesses were provided with posters and sent details on how to interact with the Small Business Saturday social media package and how to register their details on the website.

2.6 New and Closed Businesses

This section refers to businesses which opened or closed within the BCCM geographical area between July 2017 to October 2017.

Street Date of Closure Business Name

1. Berry Street 01/09/2017 Havlins Locksmiths

2. Donegall Square South 12/10/2017 Engine Room Gallery

3. High Street 01/10/2017 Samuel Johnston

4. Linenhall Street 06/09/2017 Belfast City Council unit

5. Linenhall Street 30/09/2017 TSA Planning

6. Lower Donegall Street 01/10/2017 Acapulco

7. Lower Donegall Street 01/10/2017 Cathedral Graphics

8. Rosemary Street 01/10/2017 Suitor

9. Victoria Square 01/10/2017 Regis

10. Victoria Square 01/10/2017 Ecco

Table Ten: Businesses Closed: July 2017 – October 2017

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BCCM SR No. 122Vacant Units Report – October 2017

Overall a total of ten businesses closed between July 2017 to October 2017.

Three multinational retailers and nine independent businesses opened in the same quarter.

These twelve new businesses have created over 60 new jobs within Belfast City Centre.

Business Street/Location

1. Bahn Upper Arthur Street

2. Botanic studios student accommodation

Dublin Road

3. Dark Arts Cafe Royal Avenue

4. Edo Upper Queen Street

5. Engine Room Gallery North Street

6. Matchetts Piano Shop Wellington Place

7. Revolucion de Cuba 25 – 39 Arthur Street

8. The Works 18 – 20 Castle Lane

9. Trespass 26 – 28 Ann Street

10. Premium Pawnbrokers 8 College Street

11. Rio Brazil Victoria Square

12. Zacks Barbers Little Victoria Street

Table Eleven: Businesses Opened: July 2017 – October 2017

Page 15: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

3. Bid Area

The Belfast One Business Improvement District (BID) been established since April 2016. Belfast One aims to improve the trading environment within its geographical area by making it cleaner, more accessible, safer; and helping to drive down business costs. Ground floor units (GFU) and vacant ground floor units (VGFU) within the Belfast One BID area (Appendix Three) are as follows:

  July-17Street No. of GFU No. of VGFUAnn Street (part) 26 2

Arthur Square 5 0

Arthur Street 14 2

Bank Square 0 0

Bank Street 2 0

Berry Street 7 2

Bridge Street (part) 8 0

Callender Street 7 2

CastleCourt 77 16

Castle Lane 16 3

Castle Place 11 2

Castle Street 41 4

Chapel Lane 7 0

Chichester Street 24 4

Church Lane 23 1

College Street 18 1

Cornmarket 10 1

Crown Entry 1 0

Donegall Place 34 2

Donegall Square East 10 4

Donegall Square North 8 0

Donegall Square South 7 1

Donegall Square West 8 0

Fountain Lane 1 0

Fountain Street 20 4

Gloucester Street 6 1

Gresham Street 16 5

High Street (part) 21 0

Howard Street 15 0

Joys Entry 1 0

Lombard Street 9 1

Lower Garfield Street 8 6

May Street 16 4

Montgomery Street 6 0

North Street (lower) (part) 14 5

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BCCM SR No. 122Vacant Units Report – October 2017

Pattersons Place 1 0

Pottingers Entry 9 2

Queen Street 25 7

Queen's Arcade 11 1

Rosemary Street 21 4

Royal Avenue (lower) 35 7

Smithfield Square North 4 1

Upper Arthur Street 15 3

Upper Queen Street 10 2

Victoria Street 7 2

Victoria Square 91 13

Wellington Place 27 7

Wellington Street 6 0

William Street South 4 0

Wilsons Court 3 0

Winecellar Entry 2 0

Total 768 122

Table Eleven: BID Ground Floor Vacant Units: October 2017

There are 122 vacant ground floor units within the BID geographical area, which makes the vacancy rate 15.89%.

This is a decrease of 0.47 on the July 2017 report and equates to 4 units in real terms.

As per the previous report CastleCourt contains the highest number of vacant units within the Belfast One BID area (16 units) followed by Victoria Square with 13.

Compared to Belfast City Centre’s overall vacancy rate of 16.64% the Belfast One BID area is performing marginally better by 0.75%.

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Page 17: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

4. Conclusions

4.1 The overall number of ground floor units recorded in this survey has decreased by 19 units in real terms from 1203 in July 17 to 1184 in October 17. The total number of ground floor vacant units has decreased by 12 units for this quarter from 209 to 197.

4.2 The figure of 16.64 % ground floor vacant units remains much higher than the UK benchmark of 9.3% and the regional average of 15.2% as recorded by Springboard. It is clear that Belfast continues to lag behind the rest of the UK.

4.3 October 2017’s vacancy rate of 16.64% is a decrease of 0.73% on the previous report for July 2017.

4.4 There have been a number of demolitions and unit take overs in the city centre since the last report. This includes the Speedy Hire unit on Chichester Street and 5 units have been removed from the High Street count as the River House development has now taken over all the ground floor units which were there previously. The Spires Mall unit has previously housed 15 units has been taken over as a conference and exhibition centre with the remaining two units (Andrew Watson and Size) now being counted as part of the Upper Queen Street figures.

4.4 Work was due to begin in autumn 2017 on Belfast Streets Ahead (BSA 3) programme in the north of the city centre however the new proposed date for the work to begin is now January 2017. The scheme will include Royal Avenue, York Street (from Royal Avenue to Frederick Street), Frederick Street, York Lane, Cathedral Gardens, Talbot Street, Exchange Street West and Academy Street, Curtis Street, Clarkes Lane, Great Patrick Street (part), Little Donegall Street (part) and Library Street (part). This part of Belfast City Centre is presently seeing great change and regeneration with a number of significant developments both planned and ongoing. With work also commenced on the new University of Ulster campus this area of the city centre will become a thriving location which should help to attract new retailers and businesses alike. The BSA 3 project will create high quality public spaces and footpaths through the use of new natural stone paving, improved street furniture, street lighting, and new urban trees, creating new public space as well as improving Cathedral Gardens and provision of public art.

4.5 The Royal Exchange development should help to improve the number of vacant units in the North Street area of the city. The proposed £400m mixed use redevelopment of the north-east quarter of Belfast City Centre is the innovation of Castlebrooke Investments. The proposed scheme comprises retail, leisure, residential, community and office space across 12 acres bound by Royal Avenue, Donegall Street, North Street, Lower Garfield Street and High Street. Phase 1 of the development has commenced with the regeneration of the Garfield bar site on Lower Garfield Street. A retail positioning study for Belfast City Centre was completed by Javelin Group for Belfast City Council's City Centre Development Team in August 2015. The report was commissioned to help inform the approach to a proposed retail development in the North-East Quarter of Belfast City Centre, and other potential city centre retail developments.

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BCCM SR No. 122Vacant Units Report – October 2017

5. Recommendations

5.1 As per the Belfast Agenda, regenerating the city centre is key to creating economic growth. Belfast City Council needs to ensure the right mix of office space, retail, hotels, tourist attractions, creative industries, universities and colleges, not to mention housing throughout Belfast City Centre. Through the local development plan over the next four years, delivering city regeneration and investment projects is crucial to the development of the city and decrease in the number of vacant units. Also, with fourteen hotel planning applications submitted for Belfast over the next five years, this can only help to attract new business to the city centre.

5.2 As 55.62% of ground floor businesses within the BCCM boundary of Belfast City Centre are independently owned, it is important that free business support programmes available to SME’s continue, such as those provided by Belfast City Council e.g. the ‘Go for It’ programmes and also events that promote independently owned businesses such as ‘Independents Day’. More of these events are strongly encouraged to help strengthen and protect the local traders and encourage start-ups and entrepreneurship.

5.3 As discussed in previous reports given the high level of vacant units (particularly long-term vacant units) in areas such as Great Victoria Street, additional funding should be made available to animate vacant properties within the city centre. A similar project was successfully delivered in 2012 by BCCM to improve the aesthetics of areas in which long-term vacant properties were based. This would help to make the area more aesthetically pleasing for all users of Belfast City Centre.

5.4 Public grants should be made available where possible for long-term vacant units to be utilised for other uses such as spaces for community services, social enterprises, art displays, play schemes and adult learning centres etc.

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BCCM SR No. 122Vacant Units Report – October 2017

Appendix One: BCCM Boundary (highlighted in red)

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BCCM SR No. 122Vacant Units Report – October 2017

Appendix Two: BCCM Streets

BCCM GEOGRAPHICAL AREA

GFU: Ground floor units VGFU: Vacant ground floor units IND: Independents

No. GFU No. VGFU IND. % VACANT % IND.Amelia Street 6 0 2 0.00% 33.33%Ann Street 29 2 9 6.90% 33.33%Arthur Square 5 0 0 0.00% 0.00%Arthur Street 14 2 2 14.29% 16.67%Bank Street 2 0 2 0.00% 100.00%Bankmore Square 1 0 1 0.00% 100.00%Bedford Street 23 3 9 13.04% 45.00%Berry Street 7 2 5 28.57% 100.00%Bridge Street 12 0 8 0.00% 66.67%Bruce Street 7 0 5 0.00% 71.43%Brunswick Street 8 1 3 12.50% 42.86%Callender Street 7 2 3 28.57% 60.00%Castle Lane 16 3 2 18.75% 15.38%Castle Place 11 2 2 18.18% 22.22%Castle Street 41 4 28 9.76% 75.68%CastleCourt 77 16 9 20.78% 14.75%Chapel Lane 7 0 7 0.00% 100.00%Chichester Street 24 4 12 16.67% 60.00%Church Lane 23 1 21 4.35% 95.45%Church Street 6 0 5 0.00% 83.33%Clarence Street 3 1 2 33.33% 100.00%Clarence Street West 3 0 0 0.00% 0.00%College Court 3 1 2 33.33% 100.00%College Square East 5 2 3 40.00% 100.00%College Street 18 1 12 5.56% 70.59%Cornmarket 10 1 2 10.00% 22.22%Crown Entry 1 0 0 0.00% 0.00%Donegall Place 34 2 0 5.88% 0.00%Donegall Street (lower) 29 5 19 17.24% 79.17%Donegall Street (upper) 25 7 17 28.00% 94.44%Donegall Square East 10 4 4 40.00% 66.67%Donegall Square North 8 0 3 0.00% 37.50%Donegall Square South 7 1 3 14.29% 50.00%Donegall Square West 8 0 2 0.00% 25.00%Downshire Place 1 1 0 100.00% 0.00%Dublin Road 38 4 24 10.53% 70.59%Fisherwick Place 1 0 0 0.00% 0.00%Fountain Lane 1 0 1 0.00% 100.00%Fountain Street 20 4 10 20.00% 62.50%Franklin Street 2 0 0 0.00% 0.00%Great Northern Mall 18 3 9 16.67% 60.00%Great Victoria Street 62 20 23 32.26% 54.76% Gresham Street 16 5 10 31.25% 90.91%Harmony Street 1 0 1 0.00% 100.00%

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Page 21: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

High Street 30 1 14 3.33% 48.28%Howard Street 15 0 11 0.00% 73.33%James Street South 6 0 6 0.00% 100.00%Joys Entry 1 0 1 0.00% 100.00%Keylands Place 1 0 1 0.00% 100.00%King Street 15 2 9 13.33% 69.23%Library Street 1 0 1 0.00% 100.00%Linenhall Street 18 4 9 22.22% 64.29%Linenhall Street West 1 0 1 0.00% 100.00%Little Donegall Street 3 0 2 0.00% 66.67%Little Victoria Street 7 2 5 28.57% 100.00%Lombard Street 9 1 6 11.11% 75.00%Lower Garfield Street 8 6 2 75.00% 100.00%North Street (lower) 32 8 16 25.00% 66.67%North Street (upper) 17 8 9 47.06% 100.00%Pattersons Place 1 0 1 0.00% 100.00%Pottingers Entry 9 2 7 22.22% 100.00%Queen Street 25 7 15 28.00% 83.33%Queen's Arcade 11 1 10 9.09% 100.00%Rosemary Street 21 4 8 19.05% 47.06%Royal Avenue 53 9 25 16.98% 56.82%Shaftesbury Square 17 4 4 23.53% 30.77%Skipper Street 3 0 3 0.00% 100.00%Smithfield 28 2 26 7.14% 100.00%Smithfield Square North 4 1 3 25.00% 100.00%Union Street 12 0 11 0.00% 91.67%Upper Arthur Street 15 3 11 20.00% 91.67%Upper Church Lane 4 2 2 50.00% 100.00%Upper Queen Street 10 0 6 0.00% 60.00%Victoria Square 91 13 4 14.29% 5.13%Waring Street 13 4 7 30.77% 77.78%Wellington Place 27 7 13 25.93% 65.00%Wellington Street 6 0 5 0.00% 83.33%William Street South 4 0 1 0.00% 25.00%Wilsons Court 3 0 2 0.00% 66.67%Winecellar Entry 2 0 2 0.00% 100.00%Winetavern Street 11 2 8 18.18% 88.89%

Total Total Total Av Total Av Total1184 197 549 14.40% 66.14%

16.64% 55.62%

Page 22: BELFAST CITY CENTRE · Web viewThe graph below outlines the trend over the past two years for Belfast City Centre and indicates the vacancy rate from July 2015 until October 2017

BCCM SR No. 122Vacant Units Report – October 2017

Appendix Three: BID One Boundary (highlighted in pink)

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