Shop vacancies stay at lowest level since 2010
UK shop vacancy remains at its lowest level since April 2010 at 12.9%, according to the Local Data Company.
Analysis of vacancy rates by occupation type for October shows in the leisure sector it was 8.18% and both retail and leisure, the vacancy rate was 11.6%.
The town vacancy rate fell by -0.1% in October to 11% when compared to the previous month.
The majority of regions saw no change in their vacancy rate in the past month, apart from the North West (-0.1%). Wales (-0.1%), West Midlands (-0.2%), Yorkshire and the Humber (-0.1
The only region to see an increase in its town vacancy rate was Greater London (+0.1%).
Compared to the previous year, all of the regions across England, and Wales and Scotland saw a fall in their town vacancy rate.
The biggest fall in town vacancy rate, was in the North East and North West with both regions seeing a -1.0% fall in their town vacancy rates.
The shopping centre vacancy rate dropped by 0.2% to 14.3% in October when compared against the previous month.
LDC director Matthew Hopkinson said: “Positive news and stability is what we are seeing in the national vacancy rate.
“What is promising is seeing some of the regions, notably the North West and North East, with improved rates. Shopping centres have also shown a notable improvement which is a reflection of increased investment overall and their diversification into food & beverage as well as entertainment.
“One area to watch is Greater London, whose vacancy rate increased which is likely to continue due to increased competition between locations as a result of improved travel infrastructure.”
