High streets need Government support
January 29, 2013
A report by Hicks Baker partner Fiona Brownfoot has called for Government action to support the high street.
Retail specialist Ms Brownfoot revealed 10 per cent of Reading town centre’s retail space was now vacant.
Three years ago it was just 4.69 per cent.
She said that nationwide the number of store closures was running at 20 a day in the first half of 2012 – up from 14 in 2011.
That figure shot up to 32 a day by Quarter 3.
One reason, she said, was that retailers were ‘chasing the digital spend’.
Estimates suggest 25 per cent of total retail sales will be online by 2020.
In Reading there were 25 retail lettings in 2012, compared to 27 in 2011 and 42 in 2010. The number of tattoo parlours nationwide has grown by 112 per cent since 2009.
For the full report, including what Ms Brownfoot says should be done to help the high street, go to the news page at www.hicksbaker.co.uk