High street vacancy rates across have hardly changed this year and remain “stubbornly high”, although restaurants, bars and cafes are among the most common changes of use for vacant shops, new research shows.
A survey of 650 town centres by the Local Data Company, reported by the BBC, found that the average vacancy rate was 14.1%, against 14.2% in a similar survey in February
Matthew Hopkinson, director of the Local Data Company, told the BBC that many shops were being converted to leisure use, including restaurants, bars, cafes and betting shops.
“This report clearly shows that whilst the rise of empty shops has stalled it still remains stubbornly high for many towns up and down the country,” he said.
“Since August 2010 the national average has been above 14%, with a significant number being ‘long-term sick’ with little or no prospect of reoccupation as shops,”
The survey, which analysed more than 1,900 town centres, shopping centres and retail parks in the first half of the year, found that the was a big divide between north and south. London was the best performing region with a vacancy rate of 9.4%, while the North West had the highest vacancy rate of 20.1%.
Meanwhile, more than 500 new leisure units were created in H1.
