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Published
Oct 14, 2016
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Shop vacancy rate slightly up in September

Published
Oct 14, 2016

The number of vacant retail units in the UK increased slightly by 12.4% in September from 12.3% in August, however it was 0.5% below last year’s levels.



According to the Local Data Company, which surveys over 2,700 towns and cities, retail parks and shopping centres, activity across the UK retail property market continued its fall in September with a 26% drop when compared to the same month in 2015.

In terms of locations, the GB shopping centre vacancy rate dropped by 1.4% in September on a year-on-year basis, while vacancy rates in retail parks fell by 0.7%.

The town centre vacancy rate showed a year-on-year decrease of -0.5% in September 2016 with Scotland as the only nation to see an increase, picking up 0.8% in the last 12 months.

Matthew Hopkinson, Director at LDC commented: “Vacancy has been falling gently but consistently since 2013, but the improvement has been on pause since May. Levels of activity in openings, closings, new builds, demolitions and reuses have moderated. This could be a signal that businesses have been hesitating when making investment decisions, both before the referendum and in the turbulent period since. As it is, vacancy remains at a level more than twice as high as the pre-crash level in 2008.”

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