News - Midlands

Nottingham city centre tops vacancy rates

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More than one in four shops in Nottingham are lying empty, according to research from the Local Data Company.

The data shows that 29 per cent of outlets in the city are vacant, an increase of 5.9 per cent in the past six months.

Corby's high street does not fare much better, with 25 per cent of shops empty.

Leicester, Hinckley and Ilkeston also make the top five, with vacancy rates of 21.5, 19.5 and 18.5 per cent respectively.

The latest Shop Vacancy survey said that town centre vacancy rates across Great Britain stabilised at 14.3 per cent during the second half of 2011.

Matthew Hopkinson, director at the Local Data Company, said: "The report highlights the key structural issues driving vacancy rates and provides unique evidence of the reality of many town centres up and down the country.

"Weak consumer confidence, rising unemployment, the growth in retail sales by supermarkets and the internet, a significant number of retail leases coming to an end and the uncertainty in the banking sector, all leads to the view that shop vacancy rates are set to rise in 2012."

 
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