I'm today, 4 September, releasing the latest City Centre Management survey of vacant City Centre retail units (survey completed 3 September).
Key facts:
- The latest Exeter vacancy rate stands at 6.96%.
- Drops in Exeter vacancy figures continuing - 7.56% in March 2012, 7.41% in May and 7.10% in July.
- The Exeter vacancy rate remains significantly better than the national average - a figure that currently stands at 12-5-14.5%.
- Of the 16 City Centre areas for which vacancies are listed, 9 areas are showing the same vacancy rate as contained in the July vacancy survey and 4 areas are showing fewer vacancies than in July (Fore Street, South Street, High Street and Sidwell Street).
- Of the 16 City Centre areas surveyed, 6 areas are showing no vacancies at all.
Against a national backdrop that remains challenging, the latest Exeter vacancy figures are very encouraging. The 'John Lewis effect' remains a key factor behind the Exeter figures remaining so positive, with a significant number of retailers joining with John Lewis in recognising that Exeter City Center is a real success story - a success story they wish to be a part of.
There remain challenges ahead, but I remain confident that the broad trend for City Centre vacancy rates will be a downward one for the coming 6-12 months.
Exeter City Centre Manager
Tuesday 4 September 2012
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