UK: 20% of shops will never be re-occupied
More on demographic and perhaps systemic shifts driven by internet and ecommerce. To suggest that 20% of exiting shops will never be re-occupied is a staggering statistic. Its not quite Detroit level stuff, but we are in a similar trajectory.
A fifth of empty shops in Britain will “never be reoccupied” and should be demolished or converted, according to the Local Data Company.
The picture above is not uncommon in likes of Dundee which used to be a manufacturing hub that buzzed 30 years ago. No more. All across Norhern England the story is similar.
More from the FT piece.
Retail parks in the West Midlands have the worst rate of long-term vacancies, with almost a third vacant for more than three years, while Skelmersdale in Lancashire has one of the worst-hit high streets. Almost 80 per cent of high street shops in the town have been vacant since at least 2011.
I dont think we are seeing this in North America yet.