Out of town retail vacancy rates low despite market challenges
Vacancy rates in the UK’s out of town retail sector remain low despite challenging operational conditions, according to Savills’ research, with just 5.96 per cent of units currently unoccupied. This is significantly lower than the sector’s 10.86 per cent vacancy rate by unit in 2015 and 12.17 per cent in 2012.
Despite the recent administrations of Maplin and Toys R Us, both of which have a large out-of-town presence, Savills says the outlook remains positive.
Sam Arrowsmith, associate director in the research team at Savills, said: “Low vacancy rates show that clearly the picture for out-of-town retail is more robust than recent headlines might imply. Even with additional closures linked to the CVAs announced recently, vacancy rates will not change dramatically. Numerous retailers also remain acquisitive, including Lidl, Aldi, B&M, The Range and Home Bargains, which all plan to open further stores in 2018.”