CENTRAL LONDON RETAIL HEALTH CHECK SPRING 2008

Published: April 2008
Source/Company: Colliers CRE

Abstract:
The Research & Forecasting Department of Colliers CRE has just published a research paper focusing on the health of the Central London retail market using void units as a key indicator.

The publication reports on in-house survey data collected on a six monthly basis from ten primary retail streets in Central London and looks at both vacant units (hard voids) and those available but currently trading (soft voids). The report highlights the current state of the retail market and assesses the extent to which these trends are impacting on occupiers and landlords in the high street.

In the current challenging retail climate, landlords are finding it increasingly difficult to secure tenants and following the reforms to the void rating legislation, which came into force on April 1st, landlords may respond by accepting temporary tenants or even lower rents in order to offset their liabilities.