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News - 29 April 2010

Hove’s shop vacancies continue to outperform national picture

With the UK slowly limping out of the downturn, local businesses can take heart that Hove’s retail vacancies are still well below the national average.

As the country shuffles free from the grip of recession, town centres across the UK are counting up their casualties and bracing themselves for tough times ahead. Colliers CRE , one of the UK’s top ten real estate advisory organisations, has announced the results of a national shop vacancy rate survey, with a score averaging out at 14.4%.

At just 4.8%, Hove’s vacancy rate is bolstering local opinion that business is still great in the west of the city.

Given the sharp declines seen by many town centres across the country, both during and after the recession, it’s no surprise that this latest vacancy rate survey of all the shop front business in Hove (from Boundary & Station Roads in the West to Boundary Passage in the East) has seen some hits. In fact, since the last survey in January 2010, nearly all the major retail roads have increased their vacancy rates, with only George Street in central Hove managing to drop 1.2% to 4.7% vacant.

Western Road, Hove, has the biggest hit, rising 4% to 7.8%. Next comes Portland Road, rising by 2% since January to a total of 7% vacant. Station Road, rose by 1.5% to 4.7% vacant, however, Boundary Road (the other side of the street) managed to stay constant for the second quarter running at 4.6%.

Blatchington Road in Central Hove increased by a small margin to 6.5% vacant and finally Church Road’s vacancies went up 1.1% to a total of 7.8% vacant.

For a full breakdown of the latest survey, click on the link below, or for more details, contact, Gavin Stewart, Hove Town Centre Manager on 01273 410251, gstewart@brightonbusiness.co.uk.

Click here to download the April 2010 Hove Vacancy Rate Survey


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