Key facts:
- The latest Exeter vacancy rate stands at 7.41%.
- The Exeter vacancy rate remains significantly better than the national average – a figure that currently averages at 12.85%.
- Of the 16 City Centre areas for which vacancies are listed, 11 areas are showing the same vacancy rates as contained in the March vacancy survey, 2 areas are showing an increase (South Street and High Street) and 3 areas are showing fewer vacancies than in March 2012 (Guildhall, Princesshay and Sidwell Street).
- Of the 16 City Centre areas for which vacancies are listed, 6 areas are showing no vacancies at all.
A breakdown of the number of vacant City Centre retail units is set out below -
The latest vacancy figures remain very encouraging, with a drop from the 'spike' shown in the March figures. I predicted that the vacancy figures would drop back from the March position and it's pleasing to see that prediction coming to fruition. A number of further deals are in the pipeline across the City Centre and I would now expect the downward trend in vacancy figures to continue in to the figures that will be published in July.
Taken within the context of UK wide recessionary pressures, consumers being reportedly worse off than a year ago and the recently recorded sharp fall in consumer spending, the latest Exeter vacancy figures are particularly encouraging. National challenges remain and it is more likely than not that there will be further national retailer casualties, with a knock-on effect on the Exeter figures. The reality is, however, that Exeter has consistently outperformed the UK average on retail vacancies and it is likely that this will remain the case.
There is no question that Exeter will continue to attract new retail names over the coming months. Exeter is a winning City Centre, with a winning vision for the future – a vision that John Lewis, Hollister, Bills, Cath Kidston and many other new name retailers and businesses will want to share with us over the coming year.
John Harvey
Exeter City Centre Manager
Friday 25 May 2012
Comments
0 Response to 'May 2012 City Centre Retail Vacancy Rates'