Britain’s shop vacancy rate has fallen to its lowest level since June 2010.
According to Local Data Company figures, the shop vacancy rate in August fell to 13.3%, down from 13.4% in July. This is the lowest the rate has been in over four years. This is contrast to the leisure industry which has seen its vacancy rate increase by 0.05% to 7.7% during the month.
Local Data Company director Matthew Hopkinson 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.”