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Friday, 23 September 2011

Shop vacancy rates rise in northern town centres

Figures published by the Local Data Company reveal that, while vacancy rates in Britain have stabilised at 14.5 per cent during the first half of 2011 following a threefold increase since 2007, nearly one in three shops are vacant in some town centres in the north and Midlands. 

According to the report, the worst affected large centres are Stockport (27.7 per cent of shops vacant), Blackpool (27.5 per cent), Grimsby (27.5 per cent), Stockton-on-Tees (27.4 per cent) and Bradford (26.8 per cent).

Dudley (29.4 per cent), West Bromwich (28.3 per cent), Hartlepool (27.9 per cent), Dewsbury (27.6 per cent) and Blackburn (26.3 per cent) are the medium-sized centres with the highest vacancy rates, the figures show. 

The worst-hit small town centre is Leigh Park in Havant, near Portsmouth, where 36.4 per cent of stores are vacant, the report says.

The north-west is the region with the most shop vacancies, with 17 per cent of stores empty, according to the report.

Local Data Company director Matthew Hopkinson said: "The stark reality is that Britain has too many shops in the wrong locations and of the wrong size.

"The diversity of shop vacancy rates is clear evidence that a local approach is required that ties in with consumer needs and the realities of modern retailing."

Liz Peace, chief executive of lobby group the British Property Federation, said: "Many of our high streets and town centres are in a critical, but stable condition. Their recovery is not just going to happen, but will need nursing.

"It will require investment from our sector, and the confidence that goes with a local authority that has leadership, a clear vision, and a willingness to plan and manage their retail environment."

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