The future of Out of Town is anyone’s guess but the current picture is quite clear.
The significant challenges facing retailers across the Cambridge-Oxford Growth Corridor are reflected in regional take-up figures which have fallen to their lowest level since 2014.
There are exceptions however with new operators absorbing vacated space in some locations, with Cambridge seeing the highest level of take up since 2012. Bidwells Research Director Sue Foxley’s latest blog asks if experimental retail might soon emerge as a trend in the Bidwells region.
Our latest research found:
- Prime rents have fallen across all unit types, with the largest falls in bulky use rents, which are down by 14.7% since 2016
- Availability has doubled over the past two years, with the average availability rate across the Bidwells region standing at 7.2%
- Take up of 149,100 sq ft was dominated by the acquisition of larger units (>15,000 sq ft), which accounted for 58% of the total
- Demand for open A1 consented units dominates retailer requirements, accounting for 76% of total
Read Sue Foxley’s latest blog The Out of Town Experience: can laser tag and crazy golf DJs make the Oxford-Cambridge Arc’s multi-generational consumers happy again? Here
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