GB shop vacancy rate increased to 13.7% in Q4 from 13.2% in Q3. Credit: schizoform.

A British Retail Consortium (BRC) report has revealed that overall Great Britain (GB) shop vacancy rate grew to 13.7% in the fourth quarter of 2020 from 12.4% in Q3.

The surge in the rate is for the tenth consecutive quarter of increasing vacancy rates from Q2 2018. It reflects the impact of Covid-19 pandemic on the country’s retail and hospitality sectors.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

BRC chief executive Helen Dickinson said: “With the country in and out of lockdown, the forced closures of thousands of shops, and consumers reluctant to visit town and city centres, it is unsurprising that the number of shuttered stores continues to rise.

“Over the past two years, one in every 50 outlets has permanently closed, and this number will only go up. The big increase in vacancy rates during the crucial golden retail quarter, when demand is usually high, serves as a stark reminder of the pandemic’s impact.

BRC report also reveals that vacancies on High Street increased to 13.7% in Q4 from 13.3% in Q3.

Additionally, Shopping Centre vacancies rose to 17.1% in Q4 from 16.3% in Q3 while Retail Park vacancies increased slightly to 10.0% from 9.2% in Q3.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Dickinson added: “If Government wants to avoid unnecessary shop closures and the loss of tens of thousands of jobs, it must urgently extend the business rates relief beyond April, providing additional targeted financial support to the hardest-hit retailers and extend the moratorium of aggressive debt enforcement.

“Without these interventions, not only will retail firms go under, but the vibrancy of our town centres and local communities across the country will be lost.”