NORTHERN Ireland's premier shopping street appears set for a revival with retailers coming back to occupy some of Donegall Place's many vacant properties.
The once bustling street has seen a dramatic reduction in occupancy rates in recent years as shoppers turned to new retail Meccas such as Victoria Square and its surrounding streets.
However, lowering rates and an improving economy appear to be encouraging retailers back to the area.
Shoe brand Skechers is to open a standalone shop on the street at the former Lipsy unit.
Meanwhile, Gap is in works to move its flagship city store from Castle Court to the former Eason unit on Donegall Place.
Across the street, the troubled unit once occupied by Topshop is also set for a new lease of life.
The retailer left for Victoria Square in 2008 with Peacocks and Internacionale both moving in over the intervening period only to each fall into administration.
It is understood it has now been leased to clothes retailer Officers Club - owners of the Petroleum brand - which has one other outlet in the north at Derry's Richmond Centre.
Meanwhile, Zara reopened its Donegall Place last month following a major refurbishment.
The new entrants will help the north's struggling shop vacancy rates.
According to the latest figures from the British Retail Consortium, 16.4 per cent of Northern Ireland's retail units lay empty - compared to the UK average of 10.2 per cent.
The recent revaluation of non-domestic rates will have made property on Donegall Place more attractive.
Rates on the street and at CastleCourt further up the road along Royal Avenue roughly halved with the new levels coming into affect last month.
Meanwhile, at streets around Victoria Square, levys rocketed, some by more than double.
PwC economist Dr Esmond Birnie said the new arrivals on Donegall Place were "good news" but added "it is too early to get euphoric about it".
"Donegall Place is seen very much as a the heartland of the city and it is an iconic shopping street.
"So there is a significant psychological affect of your main shopping street becoming a bit tatty looking and the affect that has on tourism and so on.
"The rates revaluation was certainly the right thing to do as it was so long since they were last valued that it was completely out of kilter.
"There will be an element moving around and displacement as a result so it is too early to get euphoric about it."
He said the taking up of vacant retail space was a sign of improving prosperity but that a real upsurge in consumer spending wouldn't come until other parts of the economy were in full recovery mode.
"There is still the whole question of what we do with the high street with the increase in online shopping and shopping centres but that is a problem not just in Belfast but in London, Cardiff, Nottingham and elsewhere," added Dr Birnie.
