Shop vacancy rates fall for third month in a row
Shop vacancy rates decreased for the third month in a row in December according to figures released by the Local Data Company.
Rates fell by 0.06% to 14.25% driven in part by a rise in the number of temporary pop-up shops in the run-up to Christmas.
Matthew Hopkinson, director at the Local Data Company said: “This further decrease reflects the seasonal nature of retailing and the increase in the number of pop up shops across the country.”
However, the LDC expects vacancy rates to rise in 2013. Hopkinson added: “In light of recent administrations and the number of distressed retailers being quoted I fear that we will see a rise in the number of vacant shops as we enter 2013. There is the potential for a doubling of closures from what we have seen in 2012.”
Never Miss a Retail Update!The LDC also found that town centres are becoming ever more inventive as they look to attract more shoppers.
Hopkinson said: “Aside from the numbers it is interesting to increasingly come across more and more innovative ideas as to how we can tackle vacant units from independents combining forces under one roof to the use of derelict shopping centres for war gaming or even being chased about by zombies!
“Technology is the key driver in all things retail and the impending arrival of 4G across all networks is likely to further accelerate this.”
