Distribution / NATIONAL / Aug.02

Retail analyst upbeat despite shop vacancy rates peaking

Small June rise shows stability, says LDC

Retail vacancy rates inched up in June but remain stable across the UK, according to the Local Data Company.

Town centre vacancy rates returned to their highest recorded level - 14.6 per cent - in June. There are 23,000 empty shops in the UK's largest 650 town centres.

Local Data Company director Matthew Hopkinson said: "June’s rise in shop vacancy should not be considered as a negative change in light of the change being a mere 0.05%. It shows stability in unstable times but the national figure hides the regional and local variances which are significant.

"Recent weak reports on the economy and retail sales figures show that the pressure remains on shops up and down the country. Whilst the Olympics will bring a boost for London and the South East, as the recent census results did in population numbers, the same cannot be said for other parts of the country."