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Commercial Property News
Empty shop numbers rising, figures show
The amount of vacant business property on high streets across Great Britain is increasing, according to new data.
Figures from the latest Local Data Company report - which was revealed at the British Property Federation (BPF) Retail Summit - showed that vacancies have continued to climb over the past two quarters.
The statistics, which were based on data gathered between July and December 2009, revealed that 12.4% of retail real estate in the country is currently unoccupied - meaning those with capital to spend may be able to choose from a wide variety of commercial properties for sale or rent.
Chief executive of the BPF Liz Peace said that a "fundamental reshaping" of high streets is taking place, partly due to an increase in internet shopping.
"We must encourage councils to make it easier for people to convert shops and people must accept that we won't go back to the high streets of yesteryear," she added.
According to the BPF, one of its aims is to raise the profile of the real estate among a number of stakeholders, including policymakers.
Figures from the latest Local Data Company report - which was revealed at the British Property Federation (BPF) Retail Summit - showed that vacancies have continued to climb over the past two quarters.
The statistics, which were based on data gathered between July and December 2009, revealed that 12.4% of retail real estate in the country is currently unoccupied - meaning those with capital to spend may be able to choose from a wide variety of commercial properties for sale or rent.
Chief executive of the BPF Liz Peace said that a "fundamental reshaping" of high streets is taking place, partly due to an increase in internet shopping.
"We must encourage councils to make it easier for people to convert shops and people must accept that we won't go back to the high streets of yesteryear," she added.
According to the BPF, one of its aims is to raise the profile of the real estate among a number of stakeholders, including policymakers.
Thu, 11th Feb 2010