Empty shops on the increase, says RICS

The amount of empty shops on Britain’s high streets climbed again during the early part of the year, with fewer and fewer businesses looking to open new premises, according to the latest RICS UK commercial market survey. ekonglong sofa set

During the first three months of the year, 21% more chartered surveyors claimed the amount of unoccupied shops across the UK had gone up, rather than down. Unsurprisingly, this was met with a fall in the amount of retailers looking to lease new premises, as a net balance of 13% more respondents reported drops in demand.

With the high street still suffering – and no apparent respite in sight – expectations for future rents continued to slip, and a growing number of surveyors believe retail premises to be losing value (net balance -17%).

Across the country, every part of the UK saw the amount of unoccupied retail space rise, with London recording the most noteworthy increase in the first three months of the year, followed by the Midlands. Meanwhile, the subdued trend in demand is visible in most regions, suggesting little prospect of an early turnaround.