The North of England is facing an oversupply in the food and beverage market as Liverpool leads the sector with 71% more leisure space than the UK average, according to Colliers International.
Although the Northern Soul report said it anticipates a cooling in F&B, which will have an impact on development in secondary locations, take-up is still strong in some major cities like Manchester.
On average, it said, consumers spend £1 in every £5 on leisure, driving growth across the UK. In the North, Yorkshire & Humber is growing at a greater rate than the North West as its supply levels catch up with the rest of the region.
Cat Stevenson, retail and leisure analyst at Colliers, said: “This resilience in the sector to date can be attributed to social change; increasingly tech-savvy consumers; ‘disruptor’ operators in the market and the rise of ever-demanding millennials challenging the industry.
“However, whilst the growth in the leisure sector is a nationwide trend, different locations are performing at different rates, with opportunities for operators reliant on the size of the market, regional tastes and demographic characteristics.”
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