Town centre vacancies on the rise

Date: 9th September 2010

The number of vacant commercial premises on Britain's high streets increased during the first six months of the year, according to a new report.

Figures from the Local Data Company's 'The Gathering Storm' study shows that vacancy rates increased from 12 per cent at the end of last year to 13 per cent at the end of June 2010.

This could affect a number of small businesses based in town centres and customers shun high streets in favour of large shopping centres.

According to the report, there is also a north-south divide with just three southern towns - Watford, Bristol and Reading - appearing in the 50 worst large and medium-sized town centres.

Matthew Hopkinson, business development director at The Local Data Company, commented: "The impact of the VAT increase, public sector cuts and fierce competition within the 'multi channel' retail environment make it increasingly hard for shops on our high streets.

"In light of these new and fast growing 'off the high street' channels, will we ever need these vacant shops again? For those that survive, service, quality of offer and price need to be their values in order to ensure they can thrive."

Posted by Jacob Williams