Despite its economic strength, the Bidwells region has not escaped the High Street’s much publicised woes. We have seen rental readjustments across the region.
Both take up and demand remain stable across the market as a whole, however, and opportunities are still presenting themselves for retailers seeking space in key locations. Bidwells Spring Retail research covers Cambridge, Oxford, Norwich, Ipswich and Chelmsford.
Cambridge is currently seeing the strongest level of requirements and is basking in the glow of being recently named the UK’s most vibrant high street shopping location in the latest Retail Vitality Index - which put Cambridge first in a ranking of 1,000 UK high street and town centre locations compiled by retail consultants Harper Dennis Hobbs.
Our research found:
- Take up remained above trend levels in 2018, with total activity across all Bidwells locations standing at 451,200 sq ft
- Retailer demand remained stable at 1.2m sq ft across the Bidwells region, although more than 45% of requirements are focused on Cambridge
- Availability remained stable at 10.5% on average although there were mixed fortunes amongst the Bidwells locations
- Prime zone A rental values continued to slide, falling by 14.1% on average over 2018. The largest falls were seen in Chelmsford, where values were down by 20%
To subscribe to receive further 'Our View on...' research papers, please click here.