The number of UK shops held by chain stores is on the rise according to commercial property advisor CBRE. The news comes despite the recent spate of administrations which resulted in many well known retail names disappearing from the high street.
The figures reveal that the number of shop branches in the hands of chain operators increased by 0.31 per cent in the first quarter of 2012. They also show that restaurants, coffee shops and other catering properties are the key drivers of this growth with an increase of 1.78 per cent.
In addition, leisure and retail commercial properties held by chain stores rose by 0.87 per cent and 0.31 per cent respectively. In contrast the number of properties in service such as banks, building societies and travel agents fell by 0.41 per cent.
Coffee shops and similar establishments have become an increasingly familiar feature of the shopping experience in recent years and this growth in the catering and leisure sector is expected to continue.
Seb Howard of CBRE said that London leads the way in chain operator expansion followed by regional retail cities and out-of-town shopping locations. He pointed to the emergence of new brands like Burger and Lobster and Five Guys as evidence of the strong demand for commercial property from the sector.
He continued to explain that a lack of prime location space particularly in London is fuelling a rise in rental values.
Mark Teale, head of research at CBRE said that the growth of chain retailers in high productivity centres was creating a shift in shopping patterns, He concluded; “The longer the downturn continues, the greater the number of small high streets that will cease to be viable.”
Do you enjoy a break from shopping in one of the chain store catering properties or do you prefer your local independent coffee shop? Let us know below.
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