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


Recent Posts

Stockholm-schoolchildren-break-virtual-ground-at launch-of-Urban-Escape-scheme

Stockholm schoolchildren break ‘virtual’ ground at launch of Urban Escape scheme

Henley-steps-up-International-Expansion-with-US-Deal

Henley steps up International Expansion with US Deal

New appointments at Bruton Knowles, Plymouth office - Ashleigh Phillips, team manager at Bruton Knowles in Plymouth (right) with new associate Mark Slade - 25.08.15

Picture by Carl Hewlett/TWM - Thousand Word Media Ltd, NO SALES, NO SYNDICATION. Contact for more information mob: 07775556610 web: www.thousandwordmedia.com email: antony@thousandwordmedia.com

The photographic copyright (© 2015) is exclusively retained by the works creator at all times and sales, syndication or offering the work for future publication to a third party without the photographer's knowledge or agreement is in breach of the Copyright Designs and Patents Act 1988, (Part 1, Section 4, 2b). Please contact the photographer should you have any questions with regard to the use of the attached work and any rights involved.

Agency ‘coup’ shakes-up Plymouth Commercial Sector

Some of Colliers’ latest recruits (left to right): Katie Spackman, Nick More, Chris Dawson, Saiqa Noreen and Andrew Frost.

Colliers boosts Bristol Development Team as Activity returns to all Sectors

Henley-teams-up-with-Manchester-City-for-London-awayday-Events

Henley teams up with Manchester City for London awayday Events

ID:1780658

Profits rise at Hansteen despite Weak Euro

Major-Leasing-Deals-bring-more-Premium-Brands-to-Gunwharf-Quays

Major Leasing Deals bring more Premium Brands to Gunwharf Quays

Two-new-Tenants-confirmed-for-Manchesters-City-Tower

Two new Tenants confirmed for Manchester’s City Tower

ID:62807215

New Hotel proposals enhance Chester Northgate vision

Joint-Venture-presses-ahead-with-Dublin-U2-Studio-Office-Plan

Joint Venture presses ahead with Dublin “U2 Studio” Office Plan

The first phase of Axis 19, which has been let to AIS

First letting secured at Northumberland Estates’ Axis 19 scheme

Toys-R-Us-chooses-Green-REIT-Retail-Parks-for-First-Irish-Stores

Toys R Us chooses Green REIT Retail Parks for First Irish Stores

ID:1993493

South East Office take-up hits Record Level

Only-five-full-levels-available-at-The-Shard-following-latest-Letting

Only five full levels available at The Shard following latest Letting

ID:72770101

Rising Demand triggers boom in Speculative Industrial Development

Mike-Ashley-announces-DIY-Development-for-St-James-Site

Mike Ashley announces DIY Development for St James’ Site