Hove’s shop front businesses have coped remarkably well with the recession but vacancy rates, whilst still considerably lower than the national benchmark of 14.5%, have crept up slightly since the last survey in October 2010.
According to the Local Data Company’s latest Vacancy Report, town centre rates rose nationally from 12% at the end of 2009 to 14.5% at the end of 2010.
The Brighton & Hove Business Forum carried out the most recent local survey early in February 2011, and Hove’s average vacancy rate has increased since October 2010 by 0.9% to just 4.7%. By comparison, Brighton’s vacancy stood at 7.9% in December 2010.
Portland Road has seen the largest increase from 4.7% to 7%. Several units have also changed hands in this road, and welcome newcomers include stylish gift shop Dragonfly at no. 95 which was previously an empty shop, and no.111 is now occupied by professional A2 user, Simon Clifford Estate Agents.
Other results include Church Road at 4.9% (+1.6%), George Street at 4.7% (+1.2%), and Boundary Road at 4.5% (+1.1%).
Church Road is awaiting completion of new food outlet Havana Spoon, LaLa’s restaurant has replaced Nomads in George Street and Boundary Road has another therapy and treatment salon, Holistic Haven, at no. 44.
Western Road now boasts the addition of The Hove Kitchen serving locally sourced food, and eco lifestyle shop Eklectica, and as far as the vacancy rate is concerned, Western Rd, Blatchington Road and Station Road have seen no change.
In addition, the new businesses springing up have a modern and quality offering contributing to the character of their respective locations, and looking at the overall picture, Hove’s commercial centre seems to be holding its own.
To download the February Vacancy Survey, click on the link below: (Microsoft Office Word 97 - 2003 document, 335 KB, 4 pages).
Click here to download
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