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High Street Vacancy Rates Remain Stubbornly High

Sep 10, 2013

Research released by the Local Data Company today (10 September), indicates that High Street retail property vacancy rates sit at 14.1%, remaining stubbornly high – the average has sat above 14% since August 2010.

High Street Vacancy Rates Remain Stubbornly High

It is a clear indication that the High Street continues to struggle, and importantly highlights that there are a number of retail units that are ‘long term sick’ – locations that have little or no chance of ever being brought back into use.

There is a clear north/south divide in this respect – London had a vacancy rate of just 9.4%, whereas the North West has a rate of 20.1%.  So where does Peterborough sit in all of this?  Looking at the central area – Queensgate, Long Causeway, Bridge Street, Rivergate, Westgate, Midgate, Park Road, Cowgate and Broadway, we see a vacancy rate of 8.8 % - 34 units out of a total of 385.

With new national operators looking to secure premises in the City over the next 12 months, the picture is reasonably healthy for our central shopping area.

Julian Welch
Director


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