Space relinquished through CVAs and administrations this year has already topped 10.6m sq ft which makes it a tougher year for retailer and retail landlords than 2016 when BHS went into administration, pushing 8.5 m sq ft back to market, and 2008, when the collapse of Woolworths saw the lights turned off on some 7.4m sq ft of floor space.
Here, EG, using Radius Data Exchange, has mapped which towns are most at risk from shop vacancy and what areas are set to lose the largest amounts of space.
More than 28% of space lost is in London and the South East. Combined, the regions have lost 3m sq ft across 301 stores.
In the North West, some 99 stores are set to close, representing 11% of the total in terms of sq ft. Newcastle, Middlesbrough and Sunderland are the most affected.
Looking at closures by brand, House of Fraser leads the way with its 31 store closures accounting for 31% of the total space relinquished. It is swiftly followed by Maplin, which accounts for 25% of the total by floorspace. In actual store numbers, Maplin is closing the largest number of stores at 211.
This map only includes stores that are definitely closing or have already closed due to administrations, CVAs or portfolio reconfiguration up to June 2018. Click here to view a full-size version of the map.
EG was a main data contributor to the Grimsey Review, supplying in-depth and complete analysis on the retail real estate market using Radius Data Exchange. To find out more about how Radius Data Exchange can help you, visit www.egi.co.uk/radiusdx or to speak to our specialist retail analyst, e-mail james.child@egi.co.uk.
