Cork retail market in a period of growth as vacancy rates drop

Will Debenhams turn the corner on St Patrick's Street in 2025? Negotiations are ongoing on possible tenancies, including with a Spanish retailer.

Lia Dennehy Savills

The retail market in Cork has shown significant improvement since the challenges of 2020. During the height of the pandemic, vacancy rates in the city centre rose sharply, driven by the effects of COVID-19 and changing market dynamics that shifted negotiating power from landlords to tenants. Today, occupancy on Patrick Street has increased notably, climbing from 69% in 2020 to nearly 75% as we approach 2025.