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7 May 2024

A record number of daily trips were taken on shared bikes in the UK last year, with more people using e-bikes instead of conventional pedal cycles for the first time.

30 Apr 2024

The UK’s estimated 7.6 million cyclists are being urged to get on their bikes on Saturday May 4th and head down to their local independent bike shop, as many prepare special activities to...

23 Apr 2024

This May, join the movement to create safer, more bike-friendly streets with the Bike Month Challenge and #MakeEveryRideCount!

23 Apr 2024

The number of reported e-bike thefts doubled in the space of a year in the UK, with a 103% increase in 2023 compared to 2022, according to a study by Evolve E-bikes. While the...

22 Apr 2024

Small shops have been more "agile" at fighting COVID sale slumps than chain stores, according to a new report.

22 Apr 2024

For the first time in its campaign to help the city address escalating lithium-ion battery fires, the Fire Department of New York filed criminal charges against a Brooklyn e-bike shop owner for...

22 Apr 2024

The managing director of Brompton has backed a campaign to introduce stricter e-bike battery regulations in the UK, amid "too many examples of e-bikes, e-scooters and light electric...

15 Apr 2024

The Rediscovery Centre, the National Centre for the Circular Economy in Ireland, today announced its partnership with Cytech, the internationally recognised training and accreditation scheme for...

12 Apr 2024

Just two weeks remain for the UK cycle industry to have its say on the current Government consultation to double the permissible power of e-bikes, and to remove the need for pedalling.

10 Apr 2024

Award-winning cycling business Spokes Bikes has added a new shop in Greenock to existing shop in Bridge of Weir.

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New data reveals the most and least expensive retail rental areas in the UK

Posted on in Business News , Cycles News

New data from insolvency specialists Real Business Rescue, which analysed current commercial retail listings to find the most and least expensive areas in the UK for business owners to open stores, has found that London, unsurprisingly, tops the UK’s most expensive area for retail rents. The capital was the most expensive with the average rents hitting £49.64.

Oxford Street Xmas

However, there is a big disparity in rents across London ranging from £86.18 in Kensington and Chelsea to £23.16 in Barking and Dagenham.

Across the UK, Oxford was the second most expensive area, with average rents of £49.51.
Although recent reports have said that Oxford is among some of the UK’s worst for empty retail units since the pandemic, retail rent could still be at a premium due to council investment in the area, a budding population of younger professionals thanks to planned new housing developments, and tourism generating £780m of income a year for local businesses.

The third highest average price per square foot per year is another tourist haven, York, at £47.75.
In terms of the most affordable retail rental price, Blackpool is the cheapest at an average of £12.45 per square foot per year.

Despite the low rents, Blackpool saw a record boom in visitors in 2021 following the pandemic with more than 12 million people visiting the town centre compared to about 9 million in 2019.

Shaun Barton, national online business operations director at Real Business Rescue said: “Rental prices are just one of the many rising costs affecting businesses across the nation as they battle through one of the toughest periods, they’ve ever faced due to the ‘cost of doing business crisis’ and rising inflation.

“Not only do these prices lead to vacant retail spaces, which can have damaging effects on high streets up and down the country, but it’s another pressure point for small and medium-sized enterprises (SMEs) everywhere.”

Barton said the lifting of the moratorium on landlord debt collection has “increased significantly” the pressure on retailers.

“With the fallout from the pandemic, and now a ‘cost of doing business crisis’, it is clear that a significant number of retailers across the country are facing a battle to remain financially solvent and viable,” he said.

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