Britain’s shop vacancy rate has remained stable at 13.4% in June, its lowest level since June 2010.
The vacancy rate has been at 13.4% since May and is down from June 2013’s rate of 14.1%.
LDC director Matthew Hopkinson attributed the stability to growing consumer and business optimism, but he warned that this could be impacted by a change in interest rates.
“Increasing consumer and business optimism is having a positive impact on many retail and leisure locations up and down the country,” he said. “Whilst the vacancy rate sits very favourably compared to 12 months ago it should be remembered that consumer confidence is still fragile and a change to the interest rate could have a profound impact on changes over the last few months.”
He added that the retail market was becoming more competitive with different types of stores fighting for market share.
“Detailed analysis of the LDC data shows that the good are getting better and the weak are getting weaker,” said Hopkinson. “In addition to this we are seeing the impact of the structural changes taking place to many established retailers as they fight to retain market share. The best example in this regard is the impact the discounters are having on the traditional supermarket businesses.”
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