Ads
Published
Apr 14, 2016
Download
Download the article
Print
Text size

Short-term vacant units in UK town centres up 85% in Q1

Published
Apr 14, 2016

The latest statistics from the Local Data Company reveal that the number of short-term vacant units (units vacant for less than one year) across GB town centres increased by 85% in Q1 2016.



However, the total town centre vacancy rate remained unchanged for the third consecutive month at 10.9%. Compared to 12 months ago, the vacancy rate dropped by -0.4% from 11.3% in March 2015.

Total shop vacancy in Britain remained at 12.5% in March. This is the lowest it's been since January 2010, and down 0.2% from the start of 2016. Shopping centre vacancies dropped in March, down 1.5% year-on-year.

Matthew Hopkinson, director at LDC commented: “March’s data shows an interesting pattern of continuing improvement in the occupation of shopping centres and retail parks but no improvements in high streets. There are two key areas of note in this data. The first, is that short term vacant units are remaining vacant for longer. This begs the question of whether optimal occupation levels have been achieved in many locations or not. Should the trend continue, the increased polarisation between locations where shops close and open versus those where shops just close, would grow."

Copyright © 2024 FashionNetwork.com All rights reserved.

Tags :
Retail