Shop vacancy rate remains at lowest level in four years
The UKs shop vacancy rate remained stable in June and at its lowest level since June 2010.
Figures released by the Local Data Company show that the vacancy rate stayed at 13.4% in June, compared to 14.1% last year.
The LDC said increasing consumer and business optimism is having a positive impact on many retail and leisure locations up and down the country.
Matthew Hopkinson, director at the LDC, said: “A number of national and international retailers are starting to open more shops which is good news for many high streets but will not affect all.
“Detailed analysis of the LDC data shows that the good are getting better and the weak are getting weaker. In addition to this we are seeing the impact of the structural changes taking place to many established retailers as they fight to retain market share. The best example in this regard is the impact the discounters are having on the traditional supermarket businesses.”
Whilst the vacancy rate sits very favourably compared to 12 months ago, the LDC warned that consumer confidence is still fragile. Hopkinson added: “A change to the interest rate could have a profound impact on changes over the last few months.”
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