Demand grows for shops - Palmers Solicitors

Demand grows for shops

Shop vacancy rates have consistently improved over the last six months, say retail data specialists.

The Local Data Company, which published its latest retail vacancy figures on 5 June, said there had been “a progressive improvement” over the last six months, adding: “We have not seen such a prolonged period of consistent reduction in the number of empty shops in our town centres”.

The retail vacancy rate in May fell to its lowest level since June 2010 to 13.4 per cent, down from 14.1 per cent a year ago. When leisure vacancies were factored in the overall vacancy rate fell to 11.9 per cent in May compared with 12.4 per cent 12 months ago.

Matthew Hopkinson of the Local Data Company said: “The improving vacancy rate continues to show that empty shops are being reoccupied up and down the country. Within town centres alone, this equates to over 200 new businesses a month.”

Expert legal advice can add real value both to tenants taking on new retail leases and the landlords of retail property.

Palmers provides a comprehensive range of commercial property services that include advice on leases, commercial property contracts, guarantees and ancillary documentation. For more information, please contact Carey Jacobs.