A new Local Data Company report claims that the number of empty shops on UK high streets is set to rise in 2012.
The report forecasts that the number of empty stores will increase and puts this trend down to a number of factors including weak consumer confidence, the growth in online shopping and the expansion of the supermarket sector.
Whilst shop vacancy rates stabilised in 2011 at 14.3%, there are now some 48,000 empty shops on the UK’s various high streets.
This report also highlighted large regional differences in 2011. The best performing centres were found mainly in the South and West, whilst the worst were to be found in the North and Midlands.
The region with the lowest rate of emptying stores was St Albans in the South, with a vacancy rate of 9%, whilst the North West’s town of Stockport had the highest rate at over 30%. Other North West locations with vacancy rates of more than 25% were Blackburn, Blackpool, Grimsby, Nottingham, Stockton, Wolverhampton, and Walsall.
Matthew Hopkinson, director at the Local Data Company, said: “The stable top line rate of 2011 hides the significant breadth in town centre vacancy rates up and down the country. The odds are stacked against a positive take-up of shops and as such the new reality of 48,000 empty shops is here to stay unless an alternative use or purpose can be found.”
Commenting on the figures, Stephen Robertson, director general of the British Retail Consortium said: “The scale of retail failures since Christmas and number of shops standing empty show the effects of high costs and weak demand on retail businesses and the people and places that rely on them.”