LDC Report Warns: Too Many Shops

Posted on 12 September, 2012 by Jodee Redmond

Shop vacancy rates in the United Kingdom rose slightly to a national average of 14.6 per cent as of June 2012, according to the Local Data Company. With the exception of London, vacancies were up in all parts of the country in the past year. The capital city’s average vacancies fell from 10.7 per cent to 10.1 per cent.

Nearly one-third of retail commercial properties in Nottingham is sitting empty. The vacancy rate has jumped from 7.5 per cent to 30.6 per cent, and is currently the highest in the country. Walsall and Stockport have the second and third-highest vacancy rates, at 29.6 and 28.4 per cent, respectively. All the centres with the highest vacancy rates are located in Midland, the North, or in Wales.

With a vacancy rate of 7.7 per cent, Salisbury is the best-performing centre in the UK. Cambridge has the distinction of having the second-best record in the country. Chesterfield came in third with a vacancy rate of 8.7 per cent, followed by York and Harrogate at 9.6 per cent and 10.3 per cent.

The LDC’s report, entitled, “Too Many Shops,” collected data from 145,000 shops in 506 town centres. The conclusion reached after the results were analysed was that falling consumer spending and the global financial crisis are key factors in the current retail slump.

Consumers are cautious about their spending and are looking for the best prices when they shop, which means their habits have changed over time. More buyers are turning to the Web when making purchases, which means brick and mortar stores have even more competition than the shop down the street or across town. According to the Centre for Retail Research, online retail sales in the UK are expected to reach £57.39 billion in 2012, representing an increase of 14 per cent over 2011 figures. With this shift in buying habits, the face of retail shopping may be changed forever.




Leave a Reply

Your email address will not be published. Required fields are marked *


Recent Posts

Aldi’s Expansion Plan

British Steel on the verge of collapse with over 20,000 jobs at risk

Paris watches as flames engulf one of France’s most famous landmarks

Debenhams on the brink of administration as board reject Ashley’s bid

Emmanuel Macron pushes for a new Europe with European Parliament elections on the horizon

Brexit impacts property market

Brexit uncertainty impacts the property market

Oxford_Street_Selfridges_Christmas_Decorations_2017

Creative Christmas window displays

Toronto downtown skyscrapers

Brief history of skyscrapers

Savvy promotions attract early Christmas sales for retailers

Are savvy promotions attracting Christmas sales for retail stores?

Greenfield developments

Greenfield developments: The facts

facts about converting chapels churches

Things to consider when investing in church or chapel conversions

Lincoln Castle 1068

Exploring Lincoln Castle’s Georgian and Victorian Prison

the leopard inn Burslem

Facts about The Leopard Inn, Stoke-on-Trent

ancient high house Stafford

The majestic Ancient High House in Stafford

retro video game arcades

Retro video game arcades: The comeback

industrial style offices

How to achieve an industrial inspired office