The current level of empty retail stores will not decrease – even when the economy picks up and other uses will have to be found for them. This was the message from the British Council for Shopping Centres’ Empty Shops, What does the future hold for town centres report.

According to the report the number of empty stores will continue to rise in the short-term, peaking at 13%-14% before dropping back to 11%. This compares with a rate of 6%-7% before 2007. The BCSC highlights the impact of online shopping, supermarkets’ move into non-food, the increase in shopping centre space and demographic change for the increase.

Some town centres would be better off with less retail space, particularly where the units are small, old-fashioned and or poorly configured.
‘Boarded up shops are the most prominent symptom of the plight of some town centres. The problem, whilst clearly exacerbated by the economic downturn, is a structural one, and with this research we’re hoping to move the debate on to focus on how we can bring unoccupied retail space back into use in the long-term, or put it to alternative uses,’ says Richard Akers, BCSC president and md for retail at Land Securities.

The report calls for the Government to make a strong commitment to town centres as a focus for investment as part of the proposed National Planning Policy Framework, and argues the business rates regime acts as a barrier to retail growth.

‘UK business rates must be urgently reviewed if retail businesses are to survive and compete with rising online sales on an even footing. Likewise, the imposition of empty rates on even the smallest properties is hindering owners’ investment in their properties, and therefore their ability to work with town centre managers in developing centres that meet residents' needs, says Akers.

• < Prev
• Next >