Retail vacancy rates inch up as BRC warns of worse to come

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Retail vacancy rates have inched up during the first quarter of the year, with the ongoing coronavirus pandemic likely to cause further damage according to the BRC.

Vacancy rates across all UK shopping locations inched up to 12.2% in March, up from 12.1% in December 2019 according to new figures from the British Retail Consortium and Local Data Company.

The vacancy rates for high street locations stood at 12.3% first quarter of 2020, compared to 12.1% in December 2019.

Shopping centre vacancy rates actually fell in the first quarter of the year, down to 14.1% for the period compared to 14.4% in December 2019, while vacancies stood at 8.2% across retail parks, up from 8.1% in the final quarter of 2019.

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