Welsh Property Monitor
Property Monitor: Unoccupied retail space rises rapidly
Wales' retail market is characterised by the amount of available retail space numbering 1.5 million sq ft, considerably up from 1.1 million a year ago (out of 41.9 million in total retail inventory), reflecting a growing number of unoccupied and available retail spaces amid ongoing economic challenges. The significant decline in asking rents by -5.1% suggests landlords are responding to increased supply, offering retailers an advantageous position in lease negotiations. The Welsh Retail Consortium's priorities, aimed at enhancing economic confidence, supporting business growth, and stimulating consumer demand, are essential to drive investment and recovery of retail spaces in Wales.
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