18-May-2016

Britain’s Town Centres and Shopping Centres at lowest vacancy rate since 2009

 

Since the recession in 2008 there have been major changes to the British High Street, with major names like Woolworths disappearing. However the recovery has long been underway and the Local Data Company have announced that shop vacancy rates in town centres and shopping centrs are now at their lowest levels since 2009!

 

Southport Town Centre

Matthew Hopkinson, director at LDC, said: "This drop in the national vacancy rate to a level that was last seen in 2009 is significant. Of the shops we have, more are occupied than ever before and remaining occupied for longer but the LDC data shows the removal of units from the overall stock, which is reflected by the decline in long term vacant units."

 

Long term vacant shops are unlikely to be reoccupied after 3 years and tend to drag down the surrounding area, making it look depressed and unloved. Local authorities transferring usage to other things like cafes, restaurants and bars or even luxury town centre apartments can all help to regenerate the area and bring more people to the High St.

 

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