More than 10% of shops on the UK’s high streets are now vacant or available to lease according to the latest Retail Availability survey from real estate adviser Cushman & Wakefield.
The figure of 10.7% at 1 February is a marginal increase of 0.4% over the previous three months when availability fell for the first time in 2009 by 2.3%. That figure was boosted by temporary lettings in the run up to Christmas. The new figure however is almost 2% below the peak recorded in August 2009 of 12.6%.
At 1.5% of the total number of shops surveyed, availability as a result of retailer administrations has fallen by a marginal 0.3% despite some reasonably high profile casualties including Diamonds & Pearls, Ethel Austin and Threshers.
Source: propertytalk Live!.