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Research / Shop vacancies hit four-year low / The Local Data Company

The equivalent of 400 new shops reduced the vacancy rate on British high streets to the lowest level since 2010 last month, research revealed today.

 

 

Retailers feel their most optimistic about sales prospects in more than a decade

The equivalent of 400 new shops reduced the vacancy rate on British high streets to the lowest level since 2010 last month, research revealed today. The rate in August fell to 13.3% from 13.4% the month before, the lowest figure since before June 2010, according to @LocalDataCo

The overall retail and leisure rate, which also includes pubs, restaurants and cinemas, also fell to 11.8% from 11.9% over the same period.

Matthew Hopkinson, a director at The Local Data Company, said: “The drop in vacancy rates to pre June 2010 levels is significant and reflects the changes taking place in Britain’s town centres in response to the challenges thrown at them since 2009.”

“This improvement equates to over 400 new businesses opening in August.

“It also reflects an increase in demolished and properties under development which may be as a result of change in use or reconfiguration of existing retail space.”

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