Research Suggests That The Shop Vacancy Rate Is At Its Lowest For Four Years

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11th February 2014 18:01 - Retail

Research from The Local Data Company, which monitors more than 2,000 town and shopping centres and retail parks, suggests that the average vacancy rates were below 14% for the first time in four years. However, the report reveals a North-South divide, with some High Streets falling into further decline – there are still more than 50,000 empty shops in town centres.

In the past twelve months vacancy rates in the North West, North East and East of England have all increased. The North West is the worst hit with more than 17% of shops empty – more than double the percentage in London.

The data also shows the increasing impact of large shopping centres and retail parks and their dominance of the retail landscape.

Analysis of the twelve biggest shopping centres found most of the surrounding weaker towns and High Streets continue to decline, raising questions over their future direction and viability.

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