With the British Chambers of Commerce (BCC) announcing that the country is on the ‘brink of leaving recession’, traders in the west of the city have shown they are ready for a 2010 upturn with the latest survey of shop voids, or ‘vacancy rates’ falling to 4.8%.
The most recent visual audit of the seven major retail streets in Hove shows a drop of 0.1% since September 2009, which sits comfortably well below the national average of 11% (Experian).
The liquidation of the national drinks retailer, Threshers, should have blown a hole in the latest findings, however, several new businesses have already moved in to other vacant premises to more than make up for the shortfall.
The only streets that have increased their vacancy rates are Blatchington Road and Church Road with rises of 1.3% and 0.6% respectively. In real terms this accounts for only one more unit becoming available in both roads.
Unchanged since the September audit are Station Road at 3.2% and Portland Road at 5% vacant.
Dropping to 4.6% vacant is Boundary Road, George Street falls from 7% to 5.9% and Western Road (Hove) drops 1% to a very low 3% vacant.
These numbers are in stark contrast with vacancy rates across the UK. In November 2009, National Property advisers, Cushman & Wakefield announced vacancy rates in outer London as high as 16.6% in Watford and Bromley.
For a full breakdown of the latest survey, click on the link below.
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