The picture across Great Britain. Britain’s vacancy rate remains at 13.0% in April from a rate of 13.0% in March. The overall retail and leisure vacancy rate has also remained the same at 11.6%.
Fig 1. GB Shop vacancy rate 2008-2015 (Source The Local Data Company)
Analysis of vacancy rates by occupation type shows that Shop vacancy in March was 13.0% (0.0%), Leisure vacancy was 8.4% (+0.1%), and All (Retail & Leisure) vacancy rate was 11.6%(0.0%).
Matthew Hopkinson comments:
“Nothing of note to report in April with regards vacancy rates except ‘steady as she goes’. An ongoing trend which is encouraging is that we are continuing to see retail and leisure premises that have been vacant being demolished, redeveloped or having a change of use. Over 60 premsies were changed in this way during April – small to the overall stock but shows proactive place management in my view.
A report published this week for the Independent shows that it is still a challenging task to reduce vacancy rates as the Phones4U portfolio of shops shows with 60% still lying empty in April. A question for the future based on what we have seen happen to date is – what is the new norm for locations when it comes to vacancy rates and if high then what is an acceptable level post possible intervention?”