Store vacancies fall as retail boosted by tourism and office working

Broadway Shopping Centre

The number of unoccupied stores has dropped for the fifth consecutive quarter, according to vacancy rate figures from the BRC-LDC Vacancy Monitor.

The overall rate of store vacancies across Great Britain improved to 13.8% in the fourth quarter of 2022. This is 0.1% better than Q3 and 0.6% better than the same time last year.

In shopping centres, vacancies improved to 18.2% in the fourth quarter compared with 18.8% in the third, high street vacancies improved slightly to 13.8% in the final quarter compared with 13.9% in the third quarter, and retail parks continued to show the lowest vacancy rate at 9% in Q4 – a 0.7% reduction from Q3 2022. 

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