Neil McDonnell: No going back to pre-covid levels of commercial property

ISME believes that commercial properties that cannot be quickly returned to commercial use should be converted to housing.

Cost and convenience means that bricks-and-mortar retail has a behemoth of a competitor it cannot shake. File Picture: Denis Minihane

The election rallying cry for the Democratic Party nominee Kamala Harris in this year’s presidential election is “we’re not going back!” The Department of Housing, Planning and Local Government should consider pilfering the slogan in November. The sad fact, as far as town centre commercial property is concerned, is that we are never going back to pre-covid-19 patterns of commercial property occupation.

The national commercial building vacancy rate rose to 14.4% in the second quarter, according to GeoDirectory, the highest rate it has ever recorded.