TWO years after iconic high street retailer Woolworths collapsed, 40% of its former stores still remain empty.
Research by the Local Data Company (LDC) reveals this has fallen from 60% a year ago. This equates to more than 300 ex-Woolworths stores still remaining unoccupied and 2.1% of the total (807) are on their second tenant. The regional imbalance of a year ago has levelled out. The greatest change has been seen in the North East, from only 10% occupied to over 55%.
The highest occupancy can be seen in the Greater London region with 81% occupied. The North West went from 38% occupancy in July 2009 to 59% occupancy in July 2010, an increase of 21 percentage points.
Discount shops and supermarkets have maintained their dominance of take-up of stores with 22% and 15% of the total being taken by them respectively.
This equates to an additional 124 discount centres and 19 supermarkets compared to a year ago.
Merseyside-based Home Bargains has snapped up many stores, including one in Old Swan.
LDC business development director Matthew Hopkinson said: “This snapshot shows that take up of ex-Woolworths stores has continued, with a majority now being occupied.
“There are, however, a significant number that, for whatever reason, have not been reoccupied, some in centres that you would least expect such as Cirencester.
“Are these unoccupied units in locations or towns that are no longer on the radar of the multiple retailers as they seek to consolidate to a smaller network of stores?”
Jason Leach, a retail specialist at accountants PricewaterhouseCoopers in Liverpool, said the research shows that “variety retail” is “alive and kicking” on the UK high street.
He added: “As consumers emerge from the recession, they are maintaining their appetite for fixed-price and multi-price value retail, and often in more upmarket areas where you wouldn’t have thought there would typically be demand, such as Altrincham, Cheadle and Wilmslow.”
The Woolworths brand has been revived online by Liverpool-based home shopping giant Shop Direct.
