I'm today, 6 July, releasing the latest City Centre Management survey of vacant City Centre retail units (survey completed on 5 July).
Key facts:
- The latest Exeter vacancy rate stands at 7.10%.
- Drops in our vacancy figures continuing - 7.56% in March 2012, 7.41% in May & 7.10% in July.
- The Exeter vacancy rate remains significantly better than the national average - a figure that currently stands at 12.5-14%.
- Of the 16 City Centre areas for which vacancies are listed, 9 areas are showing the same vacancy rate as contained in the May vacancy survey and 5 areas are showing fewer vacancies than in May (High Street, Paris Street, Harlequins Shopping Centre, Princesshay and Sidwell Street).
- Of the 16 City Centre areas for which vacancies are listed, 6 areas are showing no vacancies at all.
Against a national backdrop that remains challenging, the latest Exeter vacancy figures are excellent. There are a number of reasons for the Exeter figures remaining so positive - there's without doubt a 'John Lewis effect', but the substantial levels of investment in the City Centre over the last decade and the exciting vision for City Centre development over the next decade are also key factors.
Further announcements of new name retailers will come before the next set of retail vacancy figures are published in September 2012 and I'm confident that we will continue to see a downward trend with the retail vacancy figures throughout the remainder of this year. In the longer-term we will continue to see further imporvement as long as we can maintain the momentum of City Centre change, renewal and investment.
John Harvey
Exeter City Centre Manager
Friday 6 July 2012
Comments
0 Response to 'July 2012 City Centre Retail Vacancy Rate'