From the period April to June 2009, Hove shop voids, or 'Vacancy Rates' have dropped from 7.2% to 5.9%, dispelling fears that retail in the west of the city was becoming another casualty for the economic downturn.
The survey, which looks at empty commercial properties from Boundary & Station Roads in the west to the border with Brighton in the east, spells good news for analysts. The national retail research agency, Experian, today (23.6.09) has warned that as many as 35,000 outlets could be lost nationally in the coming months, with cities such as Manchester and Gateshead already facing vacancy rates of 60% on some streets.
Locally, all the major commercial roads in Hove have shown a drop in premises 'To Let', with Brunswick the only district staying steady at 7%.
At the beginning of Q2, Boundary Road had the highest number of vacant properties at 12.4%, the last three months have seen this drop below the national average to 9.1%. This fall of 3.3% marks the largest in the survey, closely followed by Church Road, which comes down from 8.9% to 6.7%.
Station Rd, Blatchington Rd and George Street all saw increased take up of available space from 1.6%, 1.3% and 1.2% respectively, while Portland Road went from being 7% vacant to 5%.
The full results can be downloaded by clicking on the link below.
Click here to download the latest Hove vacancy rate survey
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