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High street is back from its low-point
RETAIL WOES ... a new retail report paints a mixed picture of fortunes on the high street.
A NEW high street shopping survey paints a mixed picture for the future of retailing in South Shields.
The Local Data Company’s shop vacancy report reveals that the number of shop units occupied in the town centre increased in the second half of last year.
In the North East as a whole, the average vacancy rate stands at 16 per cent.
But figures vary greatly from area to area, with Stockton-on-Tees having the highest level at 26.9 per cent and Hexham in Northumberland the lowest, at 6.9 per cent.
In the first half of 2011, South Shields’s vacant shop unit rate stood at 18.8 per cent, but it fell to 15.9 per cent by the year’s end.
The survey provides a snapshot of the town’s economic and retail health.
And it seems to indicate that larger city centre shopping areas are faring slightly worse than their town centre counterparts.
The last year has been a mixed one for the King Street thoroughfare, with some premises shutting down but other larger retailers moving into town.
Closures included ladies shopping outlet Evans and electrical store Currys.Digital.
But over the same period, large discount clothing store, TwentyOne, took occupancy of part of the former Woolworths premises.
The report says: “Vacancy in the North East is, on average, more than 16 per cent. Large centres in this region perform relatively badly, with Stockton at nearly 27 per cent, just edging out Sunderland with 23.6 and Newcastle with 23.2.
“Small and medium centres perform better, with Chester-le-Street at 8.8 the best performing medium-sized centre at just under nine per cent vacancy.” Meanwhile, the overall national vacancy rate has remained stable at 14.3 per cent.
Overall, the report indicates a continued lack of consumer spending in the year ahead.
The report adds: “Weak consumer confidence, rising unemployment, the growth in retail sales by supermarkets and the internet, a significant number of retail leases coming to an end and the uncertainty in the banking sector, all leads to the view that shop vacancy rates are set to rise in 2012.
“2011 saw the disappearance of some well-known names from the High Street.
“Barratts, the shoe retailer with 191 stores and 391 concessions, went into administration in December 2011 after struggling for some years – it previously went under in 2009.
Focus DIY, with 170 stores, applied for administration in May 2011 against a background of weak housing market activity.”
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Comments
There are 22 comments to this article
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wasthatthatguy
Saturday, February 11, 2012 at 06:53 PMChartist, "cut unemployment" is easier said than done.
Scritti Politti
Friday, February 10, 2012 at 09:48 PMMan arrested for taking chocolate?
East Boldon Lad
Friday, February 10, 2012 at 07:10 PMNo sign of moderation that I can spot, EE; but to return to topic, cut unemployment, increase salarieswages of the "squeezed middle", lend money to smaller business enterprises, encourage new "green" technologies and the increased spending power and economic confidence will lead to a regeneration of town centres
Scritti Politti
Thursday, February 9, 2012 at 07:53 PMChartist 2012,,,pride before the fall. dont get too cocky, cos I notice your getting moderated too....................
wasthatthatguy
Thursday, February 9, 2012 at 06:35 PMChartist :- If I was a big customer of any firm of solicitors, like various state run organisations are, I'd be confident in receiving an excellent service. Otherwise, which is my situation, I'd rather do it myself.
East Boldon Lad
Thursday, February 9, 2012 at 06:15 PMwsttg ; what point are you trying to make ? From my personal knowledge they are an excellent firm; Clarks Shoes are excellent shoes, John Lewis is an excellent retailer, both would be welcome retailers in SShields. W P Roberts was a highly regarded and committed Victorian solicitor who did much to aid and assist chartists, trade unionists and ordinary working men and women, he is a man whom I admire, but do not worship.The fact that some of your comments are being moderated would seem to indicate that you might need the services of an excellent solicitor.
wasthatthatguy
Thursday, February 9, 2012 at 05:42 PMChartist 2012 :- Re your comment that David Gray Solicitors are "excellent". Was it one of the Chartist "proposals" that thou shalt worship solicitors?
geordie999
Thursday, February 9, 2012 at 11:36 AMthat free car park behind ocean rd almost makes it worth going to shields again , used it last week (FREE) just a short walk along ocean rd and you can spend what would have been (expensive )bus far in shields town centre instead . well done council for our free car park .
hayley4315
Thursday, February 9, 2012 at 12:26 AMho huuuuuummmmmm
hayley4315
Thursday, February 9, 2012 at 12:19 AMPending Moderation
sanddancer
Wednesday, February 8, 2012 at 08:33 PMIts not parking fees that put me off, its the fact that after I have paid to park, there is nothing in the Town Centre to attract me. I pay a lot more to park in certain areas of Newcastle, but Newcastle has a lot more to offer.
bohemianblogger
Wednesday, February 8, 2012 at 08:28 PMEUvil is correct, the vacancies went down in run up to christmas and undoubtedly the correction will return as people start paying off their credit debt. There is little to attract people to South Shields town centre shopping wise and unless you come in by public transport the parking fees do put a lot of people off.
Scritti Politti
Wednesday, February 8, 2012 at 07:42 PMWhat a load of Hokey Cokey. Now the festivities are over I expect the next round of data in a few months time will show a contraction of the high street. There is always an uptake of short term leases on empty shop units in King St, during the run up to Xmas. So tell us something new. You put your left leg out.......
East Boldon Lad
Wednesday, February 8, 2012 at 07:19 PMwsstg obviously has issues about Social Workers, perhaps he blames them for the decline of SShields as a shopping centre as well as everything else...I'm certain that "Boston Legal's" team could redress your grievances.
wasthatthatguy
Wednesday, February 8, 2012 at 06:10 PMComment removed by moderator
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