FHP’S LATEST RETAIL STUDY SHOWS DERBY APPEARS TO BE PERFORMING WELL AGAINST ITS PEERS

Market Overview News

It has been another testing 6 months for the retail market as the uncertain and challenging economic times continue.

Several more retailers have fallen victim of the economic downturn since our last report. The most publicised of which being Woolworths with others including; Zavvi, USC, Adams Children’s Wear and Olan Mills. As a result, it is not surprising that vacancy rates across the country have increased over the past 6 months. However, the much feared total market meltdown does not appear to have materialised and a cautiously optimistic view of the market does appear to be materialising.

The results of our latest study show that vacancy rates across the city are up on the last study, with an overall availability rate for Derby City Centre of: 13.65 % (93 Shops) which represents an increase of 2.27 % on the last study.  The trend emerging in our Autumn study continues with the High Street remaining the hardest hit with an availability rate of 14.82 %. In analysing the High Street availability it is however interesting to note that the availability within the Cathedral Quarter High Streets is less than the overall average at 13.17 %. The overall winners are the shopping centres with an average availability of 11.11 %, reaffirming the strong position hopping centre landlords find themselves in with the power to entice tenants with flexible deals and strong incentives.

Please click below to see a full copy of the Fisher Hargreaves Proctor Report.