Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

Empty Shop Premises 'to Hit 15%'

Recommended Posts

http://news.bbc.co.uk/1/hi/business/8160575.stm

About 15% of High Street shops will be empty by the end of 2009, the British Retail Consortium (BRC) has predicted.

This would be more than double the 7% of stores which were vacant at the start of the year.

And the BRC said some areas had already seen up to 40% of shop space empty, amid the slump in consumer confidence.

Big names such as Woolworths have disappeared from the High Street, but overall, UK retail sales have not collapsed, as some had feared.

Gateshead, Harwich in Essex and Walkden in Greater Manchester were among the worst hit areas.

'Nurturing'

Currently, about 12% of town centre shops were empty, the BRC said.

"It is clear that in many places, recession is accelerating a trend of decline that was already under way," the BRC said.

"The dangers associated with this deteriorating picture are clear.

"Vacant units are perhaps one of the most visible impacts of the economic downturn. Shoppers who are unable to ignore increasingly visible vacant units in their local communities are likely to further reinforce falling consumer confidence."

That's going to be a lot of empty shops and a lot of jobs lost. But still at least we have the recovery to look forward too.

I wonder what this will do to rents.....

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   287 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.