In the third quarter, the Scottish vacancy rate remained 15.7% for the second consecutive quarter - and 0.7 percentage points lower than in the same point in 2021.
The latest Scottish Retail Consortium (SRC) and Local Data Company figures showed that shopping centre vacancies increased to 20.5% from 20.3% in the second quarter of the year.
On the high street, vacancies remained at 14.7%.
Meanwhile, retail park vacancies decreased to 11% in the third quarter, down from 11.3% in the second. It remains the location with the lowest rate.
SRC director David Lonsdale commented that the incremental recovery in Scotland’s shop vacancy rate over the past year stalled during the most recent quarter.
“This is despite it being the second full trading period for over two years in which stores were able to trade without Covid-era restrictions.
“Scotland’s vacancy rate remains persistently a fifth higher than pre-pandemic levels and above that for Great Britain as a whole, with one in six Scottish stores lying empty and Scotland recording the fourth weakest performance of the 11 parts of the country monitored.”
Lucy Stainton, director at the Local Data Company, explained that the pandemic proved the final straw for a number of ailing retailers, with the CVA and insolvency activity which typified the most challenged end of the market in the Covid years causing a significant spike in empty units, which are now slowly being reoccupied.
“Independent businesses in particular have continued to flourish as consumers remain loyal to their local high streets, but we can’t ignore oncoming economic pressures as consumers face a winter of increased caution and reduced disposable income.
“Just as the market has started to find its feet, we are now about to face a new round of tests — but perhaps the lessons learned during the pandemic will help chains and independents to weather the coming storm.”
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