Wednesday, May 22, 2019

Shop vacancy rates remain stable


Town centre shop vacancy rates in Great Britain continued to remain stable for the eighth month in a row.

The Local Data Company‘s monthly barometer of shop vacancy has continued to remain steady at 14.1% in May.

Matthew Hopkinson, director at the Local Data Company commented: “Britain‘s town centres continue to show stability in the number of vacant shops for the eighth month in a row. The end of the June quarter rent day has had its casualties in the form of Dwell, Internacionale, ModelZone and Ark Clothing which add up to over 200 stores. Should these stores become vacant then it is the shopping centres which will be hardest hit as over 70% of these stores reside in one.

He went on to say that UK town centre‘s are “in transition” and added, “Whilst these administrations are clearly significant and reflect the challenges facing bricks and mortar retail there are others who are expanding and will take their place but primarily within the food & beverage, convenience food retailing and services.”

The Local Data Company visits over 2,700 towns and cities (retail centres and Government defined retail core), retail parks and shopping centres. The shop vacancy index is based on the shop vacancy rates of the top 650 town centres.