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20 Jul 2022

Are you an ACT member? You can get free access to the full range of ACT job boards! Alternatively, an ACT silver membership is the same price - just £60 per year - for...

20 Jul 2022

Mark Brown, guest writer for the ACT, has created a graph using DfT data that compares the use of different vehicles...

20 Jul 2022

Each week Maybe* round up the best social media posts from across the UK. See who's coming...

14 Jul 2022

It's been a busy first half of the year at Maybe* HQ and they've kicked off the second half with one of their favourite celebrations, Independents' Day. Maybe*'s support of the campaign made 21...

14 Jul 2022

The DfT's plan set out the UK’s world-leading ‘greenprint’ to create cleaner air, healthier communities and tens of thousands of new green jobs across the UK.

14 Jul 2022

The Scotland Cycle Repair Scheme works with bike shops across the country to provide free bike repair and maintenance to those who need it most right now.

7 Jul 2022

The strategy sets out objectives and an estimated almost £4bn of investment across Government through to 2025 to deliver the commitments outlined in the Prime Minister’s ‘Gear...

6 Jul 2022

Running social media competitions and Instagram giveaways are an easy way to build your audience and your engagement. But there are a few tips and tricks you need to master, as well as those...

6 Jul 2022

As e-bikes from a reputable shop can often seem overly expensive to consumers, it is also important that IBDs present them with opportunities to spread the cost, through services such as retail...

30 Jun 2022

Independents' Day weekend is taking place from 2-3 July 2022. To celebrate Maybe* have got a tailor-made competition you can share across social media to encourage your customers to shop indie....

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'Renewed optimism' for UK high streets as demand for retail property rises

Posted on in Business News , Cycles News , Creative News, Outdoor News

Retaihigh streetl Gazette has reported that a rising demand for retail property to be used for leisure and hospitality businesses has given "renewed optimism" for some UK high streets and shopping districts, according to industry experts.

The pressure from lockdown measures saw vacancy rates across shopping destinations hit record highs in the second quarter of 2021, with just over 14% of high street store locations remaining empty during the quarter.

Shopping centres fared even worse, with vacancy levels sitting just under 20%.

Vacancy rates began to level out in the third quarter however, following a surge in interest from firms outside of traditional retail.

The collapse of major brands such as Debenhams and Topshop owner Arcadia at the end of 2020 saw the number of empty sites soar, placing increasing pressure on landlords.

As a result, many property owners have become more flexible and are offering stronger rates in order to attract new brands and businesses.

Chief executive of Retail Economics, Richard Lim, told PA news that potential tenants are "getting the best terms they will have seen for many years".

"You can't help but see renewed optimism when strong retailers are getting plenty of opportunities and landlords are working really hard to ensure their proposition is really relevant," he said.

"There has been a shift in power away from landlords somewhat back towards the retailers and hospitality."

Hugh Knowles, managing director of indoor mini-golf operator Puttshack UK, said the "increased availability" of larger units in attractive locations has also helped the growth of the leisure sector.

"Finding ‘large box' space traditionally hasn't been easy in prior years," he said. "But the increased availability more recently has amplified innovation and as a result we've seen an increase in social entertainment business.

"Customers' expectations will naturally rise, so it's great that retail and leisure can share spaces in well thought out, designed schemes."

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