Almost two-thirds of the Toys R Us UK portfolio remains vacant a year after the retailer fell into administration.
According to Radius Data Exchange analysis, only 36% of the shops which became vacant when the retailer collapsed in February 2018 have been occupied by new tenants or have been earmarked for refurbishment. The value sector has let 30% of those stores, with B&M Bargains and Home Bargains being the most active occupiers, taking advantage of big-box retail park units.
Toys R Us’ former estate totals 3m sq ft, which is 15% of all the floorspace lost since the start of the retail crisis in January 2018.
The South West and Wales lead the way with plans for more than 50% of their Toys R Us stores, but only one in 10 stores in the East Midlands currently have plans in the pipeline.
Despite increasing vacancy rates in the out-of-town sector, in which the Toys R Us estate largely sits, applications for new schemes have doubled in the past five years.
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