The rate of store vacancies improved in the third quarter across all retail locations, but physical retail’s recovery is in danger of being held back by an £800m increase in business rates costs.
In the third quarter of 2022, the overall UK shop vacancy rate decreased to 13.9% – 0.1 percentage points better than the second quarter and 0.6 percentage points better than the same period last year, according to the latest BRC-LDC vacancy monitor.
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