High Street footfall slips
Footfall in July was 0.6% lower than a year earlier, according to new figures from the British Retail Consortium (BRC) .
High streets reported the largest decline at 1.7% while shopping centres saw a 0.5% annual fall. Footfall in out-of-town locations fared the best with a 1.7% increase year-on-year and Scotland reported the greatest rise in regional footfall – up 4.4% on July 2013.
Last month, the national town centre vacancy rate fell to 10.1%, decreasing from April’s rate of 10.6% and turning in the best performance since records began in July 2011.
However, every tenth shop remains unoccupied and the BRC suggests this reinforces the need for a fundamental overhaul of commercial property taxes as this could help to increase retailers’ confidence in investing in new or existing premises.