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Big Box Vacancy Rates Start to Climb

Retail park with B&Q

According to data from Trevor Wood Associates, vacancy rates for large, retail warehouses have increased for the first time in five years, due a significant increase in store closures.

Trevor Wood Associates are a leading, independent, provider of information on all retail and leisure schemes in the UK, whose clients include retail and property industries, consultancy firms and local government.

The latest data shows that vacancy rates increased from 5.1% at the end of the first quarter of 2018, to 6.3% by the end of Q2, highlighting a turnaround, following a consistent fall in vacancy rates since 2013, leading to a low of 4.9% at the end of 2017.

The areas hit the most include East Anglia, the South West and the West Midlands where vacancy rates have jumped by more than 50% in the last two years. 

In total, there's approximately two million sq ft of available warehouse space in the UK as the big box retailers Homebase, Mothercare, Poundworld and Carpetright are hit the hardest by the downturn in retail spending.

Source: Insight DIY Team

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23 July 2018

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