LDC's latest report is out today and provides an update on the impact of market activity across 2021.
Key findings from this report include:
VACANCY RATES DECLINE FOR THE FIRST TIME IN THREE YEARS
In H2 2021, the GB vacancy rate declined for the first time since H1 2018, with all location types seeing declines in vacancy.
Figure 1: Graph showing historical vacancy rate by retail type, 2013-2021 (Source: Local Data Company)
THE GAP BETWEEN MULTIPLES AND INDEPENDENTS WIDENS
In 2021, chain retail saw a net decline of -10,059 units, the largest net decline for this sector on record. Independents, however, experienced a net increase of 2,157 units, the first time that more independents have opened than closed in Great Britain since 2016.
RECOVERY IN THE LEISURE SECTOR
Despite challenges to leisure and hospitality over the pandemic, with restrictions extending far into 2021, the leisure sector saw a net loss of just 52 units, the best this figure has been since 2016.
THE REPORT ALSO INCLUDES:
Data on openings and closures across GB
GB vacancy rates by location type and region
Redevelopment activity across the market
The impact of the work from home guidance on office locations
The fastest-growing and declining retail and leisure categories of 2021
The reoccupation of key fashion and department store brands following CVAs and administrations, including the current reoccupation status of the Arcadia estate
The most likely outlook for 2022 and beyond based on our latest data, including the possible influence of changes to government support packages and continued redevelopment and repurposing activity
As part of our commitment to supporting the GB retail and leisure sector, we are providing this report free of charge. Click the button below to request a copy.