New stores recovery threatened by £800m business rates rise

Newcastle upon Tyne city centre

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.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.