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Shop vacancy rate lowest for four years, research suggests | Shop vacancy rate lowest for four years, research suggests |
(about 7 hours later) | |
There has been a marked improvement in the number of empty shops on the UK's High Streets, research suggests. | |
The Local Data Company, which monitors more than 2,000 town and shopping centres and retail parks, said average vacancy rates were below 14% for the first time in four years. | |
But its report also reveals a growing North-South divide, with some High Streets falling into further decline. | |
However, there are still more than 50,000 empty shops in town centres. | However, there are still more than 50,000 empty shops in town centres. |
At its peak in 2012, vacancy rates were 14.6%, compared with 13.9% in December. | At its peak in 2012, vacancy rates were 14.6%, compared with 13.9% in December. |
Some of the vacancies were filled by food and leisure businesses. | Some of the vacancies were filled by food and leisure businesses. |
Dominance | Dominance |
The report, though, also shows big regional variations. | The report, though, also shows big regional variations. |
Vacancy rates in the North West, North East and East of England have all increased in the past 12 months. | |
The North West is the worst hit with more than 17% of shops empty - more than double the percentage in London. | The North West is the worst hit with more than 17% of shops empty - more than double the percentage in London. |
The data also shows the increasing impact of large shopping centres and retail parks and their dominance of the retail landscape. | The data also shows the increasing impact of large shopping centres and retail parks and their dominance of the retail landscape. |
Analysis of the 12 biggest shopping centres found most of the surrounding weaker towns and High Streets continue to decline, raising questions over their future direction and viability. |
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