Empty shop numbers drop in Yorkshire - but remain above national average

The number of vacant shops in Yorkshire and Humber has fallen slightly over the past year – but the figure remains above the national average.
By Chris Burn
Published 27th Jan 2023, 05:45 BST

According to new statistics from the British Retail Consortium and the Local Data Company, 15 per cent of stores in the region were vacant in the fourth quarter of 2022 – lower than the 15.8 per cent recorded at the same point in 2021 and below the 15.3 per cent recorded in the third quarter of 2022.

In the fourth quarter of 2022, the overall GB vacancy rate improved to 13.8 per cent, which was 0.1 percentage points better than Q3 and 0.6 percentage points better than the same period last year. This was the fifth consecutive quarter of falling vacancy rates.

Hide Ad
Hide Ad

Helen Dickinson OBE, Chief Executive of the British Retail Consortium, said:“While the number of empty stores reduced in the final quarter of 2022, vacancy rates have not recovered to pre-pandemic levels. Retail occupancy was boosted by the return of international tourists visiting UK towns and cities and more frequent visits to offices.

File photo dated 19/12/20 of boarded up shops inside an empty shopping precinct in Rotherham town centreFile photo dated 19/12/20 of boarded up shops inside an empty shopping precinct in Rotherham town centre
File photo dated 19/12/20 of boarded up shops inside an empty shopping precinct in Rotherham town centre

"These trends have given many retailers the confidence to invest in repurposing and reopening empty units. The North East, in particular, has benefitted from this investment boost, with the region seeing the biggest increase in store openings. However, it still lags behind other parts of the UK, with the highest vacancy rate in the country.

“The first half of 2023 will likely be yet another challenging time for retailers and their customers. There are few signs that retailers’ input costs will ease, putting further pressure on margins, and making businesses think twice on how much investment to make.

"However, the situation should improve in the second half of the year, as inflationary pressures begin to ease and consumer confidence is expected to return.”

Related topics:YorkshireHumberNorth East