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News - 8 October 2009
UK retail vacancy rates predicted to rise.
Business services company Experian is predicting that retail vacancy rates will rise to 16% from a current figure of 9.5% by the end of the year.
Across the UK Experian is predicting that 72,000 shops will shut during 2009 as the UK slowly recovers from the deepest recession in living.
So far Brighton & Hove has escaped mass closures that have had a serious impact on neighbouring towns like Newhaven and Crawley. Across the city the vacancy rate in March 2009 was 6.9% with the independent areas of the Lanes and North Laine showing only 5%. In Hove the figure is just below 5% and holding up well.
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