Retail Excellence Ireland has drawn attention to the damage being done to commercial business by institutional investors, particularly on the High Street.
The group highlight (http://bit.ly/bVOfvg) that Rent levels in the Irish commercial property market are now more than double the global average. Without downward movement in rent, they state that the industry will move from a “full serve” model to a “self-serve” model, and a further 40,000 jobs will be lost (additional to the 35,000 lost in 2009).
They highlight a group of institutional landlords including several who are being looked after by the state in NAMA with whom they are tactfully seeking "closer co-operation" as reported in today's Irish Times: http://bit.ly/bNVx4z from @the_irish_times
Their capacity to make any progress with policians in the Joint Committee on Enterprise, Trade and Employment today is much more important to the health and vitality of town centres than any number of policy documents or assessments. This is at the heart of the "Dalkey Dilemma" as previously noted.
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