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17 Apr 2023

Cytech are attending the Cycle Show and will be demonstrating key practices in bike maintenance that are useful for both the trade and public.

12 Apr 2023

Cytech, the internationally recognised training and accreditation scheme for bicycle technicians, will be joined by training providers Activate Cycle Academy and Spokes People when the...

11 Apr 2023

The ACT have moved office. We’re still in the same business centre but have moved unit.

4 Apr 2023

With the week commencing 17 April being designated as #ShopKind Week, we are urging all our members to get involved in the campaign by sharing the materials on social media and across their...

4 Apr 2023

A course that teaches children how to ride bicycles safely in Northern Ireland schools in no longer affordable - according to the government department that pays for it.

4 Apr 2023

The UK's competition watchdog has announced a crackdown on online pressure-selling tactics that can push consumers into making hasty decisions they later regret.

4 Apr 2023

Transport Minister Jesse Norman has been challenged in the House of Commons on the issue of cyclist safety, particularly for young people.

3 Apr 2023

A sixth of deliveries in central London could be done by cargo bike by 2030, according to Transport for London.

31 Mar 2023

Checkout Bira's FREE opening times and social media toolkit downloads for Easter!

23 Mar 2023

The ACT has announced that the annual Local Bike Shop Day will take place on Saturday 29...

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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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