Retail vacancies on the rise

High StreetLatest figures from The Local Data Company show the average shop vacancy rate has risen a little in the year to June to 14.6% from 14.3%. London is the only place to see a decline in vacancy rates with Brighton and Hove also fairing better then the national average with a vacancy rates of just 6.9% in Brighton and 3.9% in Hove.

The worst performing region overall is the North West with an average of 20.1% vacancy rate and the worst performing city centre is Nottingham with a vacancy rate at 30%

Matthew Hopkinson, director at The Local Data Company, said, “This report clearly shows the key economic and structural issues which are impacting town centres up and down the country. These issues still have some way to go before we see wide stability and positive change.”

The findings have been challenged by a group of town centre managers as they believe the figures to be flawed, due to use of an out of date set of criteria for establishing the town centre boundaries.

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