Sorry for clumsy PDF upload but attached to this post is an article from a recent supplement to property magazine Estates Gazette ('Centre Retailing 2010') that quotes some useful research by property advisors Colliers CRE that brings dimension to why some areas, rather than others, suffer retail voids. (esp useful to those trying to occupy spaces in London and finding it tricky! er, like me!).
- in some parts of the country, vacancy rates are not as high as the press would lead you to believe - especially London.
- vacancy rates have risen most in locations where major new shopping centres have opened, such as Liverpool and High Wycombe.
- the lack of shopping centre openings in the future will make 'good-quality', well-located voids hot property.
- "The recent downturn has simply exacerbated the already growing problem of retail property obsolescence in secondary and tertiary locations."
i.e. in some locations, if your meanwhile occupation can have or mature in to a viable commercial proposition, the market may well support more permanent occupation.
Credit to Colliers for doing the analysis. And EZ for publishing.
EZ Vacancy Rates #1.pdf
EZ Vacancy Rates #2.pdf
EZ Vacancy Rates #3.pdf
EZ Vacancy Rates #4.pdf