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9 Sep 2024

It is with great sadness that we bring news that Peter Stow of Stows Cycles has sadly passed away on 14th August 2024 at the age of 80.

9 Sep 2024

A new community bike partnership initiative in North Lanarkshire is aiming to help keep more people moving.

9 Sep 2024

The Association of Cycle Traders (ACT) has revealed a strategic partnership with Bikebook. Aimed at driving more business to ACT members, the partnership is also designed to equip them with...

9 Sep 2024

A bike shop, where prisoners and prison leavers can learn skills which will help them find work, has opened for business.

9 Sep 2024

Demand for bikes has soared following Britain’s strong performance in the Olympic cycling events in Paris, new research suggests.

3 Sep 2024

The British Independent Retailers Association (Bira) has responded to the BRC-KPMG Retail Sales Monitor for August 2024. The report, which can be downloaded here, has highlighted: 

28 Aug 2024

Bikmo, a leading cycling insurtech, and the Association of Cycle Traders (ACT), the UK’s largest and most established cycle trade membership organisation, have announced they are entering...

28 Aug 2024

E-Bike Positive, a new initiative with support from across the cycling industry, is set to equip the public with the information needed to buy safe, ride safe and charge safe while promoting and...

28 Aug 2024

Cycling Weekly has reported independent bike shops across the country continuing the call for reform of the Cycle to Work schemes in their current format and encouraged the government to help...

28 Aug 2024

A £1.5m project to refurbish a walking and cycling route in Coventry has been completed.

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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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