Member Article

Liverpool bucks national shop vacancy trend

Liverpool city centre has bucked the retail trend for increasing numbers of vacant shops, after the vacancy rate fell from 13.5% to 12.7% this year in comparison with 2011.

Nationally, the number of empty shops on UK high streets has risen, and while 32 units became vacant in Liverpool another 41 welcomed new businesses.

Approximately 54% of arrivals in these units were new to the city, while 14% had not previously done business in the North West.

The city’s shopping complex, Liverpool ONE had 26m visitors in 2012, while 99% of the 160 shops have occupants.

Mayor Joe Anderson commented: “The city centre is the driver for Liverpool’s economy and it is pleasing that it continues to thrive despite the tough economic conditions.

“Many thousands of people are employed in the shops, restaurants, bars and hotels. Their livelihoods depend on a successful Liverpool city centre.

“It is vital that we do all we can to attract further investment and organise events which give people a reason to visit Liverpool.”

Recent new developments in Liverpool include the completed Adagio Aparthotel in the former Lewis’ building, the opening of a new £20m store for retailer Forever 21, a £5m investment from M&S, and a £5m extension of the River Island store.

There are also plans to renovate the St John’s Shopping Centre, in a bid to rejuvenate another retail centre for Liverpool.

Malcolm Kennedy, Cabinet member for regeneration, commented: “This is a reassuring annual health check of our city centre and shows that we are continuing to make good progress in attracting investment and bringing in new businesses.

“Our city centre is the engine of Liverpool’s economy and I am pleased we are continuing to motor ahead, despite tough times.”

Chief executive of Liverpool Vision, Max Steinberg, said: “The importance of a thriving retail area to economic growth is recognised in the City Centre Strategic Investment Framework 2012.

“The area is identified as one of six transformational action areas, with a focus on the potential for further investment and improvement in the Williamson Square area. The strength of our retail sector in challenging times bodes well for the future.”

This was posted in Bdaily's Members' News section by Miranda Dobson .