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14 Apr 2022

Cytech are attending the Cycle Show and will be demonstrating key practices...

7 Apr 2022

The Retailer Promotional Pack provides retailers with an easy-to-use resource to spread the word about Local Bike Shop Day 2022 and fully benefit from it as much as possible.

6 Apr 2022

To celebrate Local Bike Shop Day, taking place on Saturday 30th April, Freewheel are offering customers 15% off...

6 Apr 2022

Businesses are required to have signed up to Making Tax Digital ready for their first VAT return starting on or after 1 April 2022. However, they may not be required to make their first...

6 Apr 2022

According to Cycling UK, business booms by 30% when people cycle to the high street. But they need somewhere to park. You can attract cyclists directly to your door by offering secure bike...

31 Mar 2022

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

31 Mar 2022

Cytech is going from strength to strength with an ever-increasing number of expansions both in the UK and abroad. 2020-21 were exceptional years with 3 locations opening, and now with the new...

24 Mar 2022

Retailers have until 1st April to sign up on the Local Bike Shop Day website and receive a physical pack in the post to help them promote their business on the day and drive footfall into their...

24 Mar 2022

As online and digital payments have continued to grow in popularity over the past few years, unfortunately so does the risk of fraud. SCA intends to combat this risk by providing a more secure...

24 Mar 2022

Shop owners can now experience the full capabilities of Hubtiger without having to connect to a POS system.

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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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