Vacancy rates: July 2009
Published: 27 August, 2009
Vacancy rates have dropped by an average of 25 per cent across the UK’s top 20 shopping centres since January, according to a recent survey by DTZ.
The survey revealed that vacancy rates have fallen to 5.1 per cent on average after peaking at 7 per cent earlier this year. This significant turnaround is expected to continue into the autumn with retailers seeking to open new stores to take advantage of the Christmas trade.
Hugh Radford, head of retail agency at DTZ said: “My sense is that the timing for securing the best deals from landlords has probably now passed, and by the end of the autumn vacancy rates will be starting to approach more historic levels. There is no longer an air of desperation from landlords as there undoubtedly was in the early months of 2009.”
