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Shop vacancy rate remained stable in September

The UK’s shop vacancy rate remained stable in September at 13.3% according to figures released by The Local Data Company.

GENERAL MERCHANDISE

Shop vacancy rate remained stable in September

This means the rate is at its lowest level since June 2010.

The overall retail and leisure vacancy rate also remained unchanged at 11.8%.

Matthew Hopkinson, director at The Local Data Company, said: "The last three months, previous to September, reduction in the vacancy rate has been halted but the big question is for how long and in which direction could it go next?"

Hopkinson said the last month had shown that retail administrations such as Phones 4U, La Senza and Riley’s are still impacting occupied shop levels but warned that the leisure vacancy rate is the one to watch.

He added: "The reason I say this is that the sector is seeing significant M&A activity as well as investment in new food brands. As such this would imply a reduction in the leisure vacancy rate but conversely it might see it rise as the market arguably reaches saturation in many large centres with more food choices than you could possibly have wished for ten years ago."

 

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