I'm delighted with the reduction in City Centre retail vacancy rates shown in the latest survey. It's particularly encouraging that retail vacancies stand at their lowest level since January 2011 and that vacancies are significantly lower than 2009 and the majority of 2010.
In the final run-up to Christmas this year we have seen a drop of 0.8% in the City Centre retail vacancy rate - a drop from 46 empty retail units to 41 empty units. It's normal to see short-term lettings in the run-up to Christmas, with businesses such as Calendar Club taking space on a short-term basis, but these figures also reflect more long-term commitments and significant investment in the City Centre. Investment in the City Centre is currently running at encouraging levels, with investment from both independent businesses and national names. We will see Hotter Shoes, Republic and Urban Outfitters open before Christmas and the significance of these investments will not be lost on retail analysts, or Exeter shoppers - Urban Outiftters only have sixteen stores at present in the UK (and only twenty-one in Europe), Exeter will be their seventeenth UK store. Work is progressing well on John Lewis, with work likely to be completed late 2012. Major businesses such as John Lewis and Urban Outfitters only back winning cities, cities of opportunity and vision - Exeter is clearly such a location and without doubt the leading retail centre west of Bristol.
There are clearly challenges remaining for the City Centre, but in my view there are more grounds for optimism than concern.
John Harvey
Exeter City Centre Manager
Thursday 3 November 2011
http://exetercitycentre.blogspot.com/2011/11/november-2011-city-centre-retail.html?showComment=1320319063478#c2439231876885888937'> 3 November 2011 at 11:17
Great to see the vacancy figures coming down. Defiantly looking promising especially with national stores moving in! I think the problem with the harlequin shopping centre is because it isn't on show enough and because the Guildhall is mainly occupied by big names and harlequin shopping centre isn't. If there was more of a mix OF independent and local shops and national it would work! its also too far from the High Street to get loads of people visiting it. Overall figures are looking good. Sidwell Street figures are good, I suppose that's to do with John Lewis!