Citation
(1998), "Total demand for retail floorspace increases by 8.9 per cent", Property Management, Vol. 16 No. 1. https://doi.org/10.1108/pm.1998.11316aab.010
Publisher
:Emerald Group Publishing Limited
Copyright © 1998, MCB UP Limited
Total demand for retail floorspace increases by 8.9 per cent
Total demand for retail floorspace increases by 8.9 per cent
Total demand for retail floorspace throughout the UK has increased by 8.9 per cent from 35.89 million sq ft in 1996 to 39.07 million sq ft in 1997 (the highest total demand recorded since the analysis started in 1990). The figures taken from the latest "FOCUS on Retail Demand" analysis also showed that the average size of requirements dropped by 5 per cent from 8,749 sq ft in 1996 to 8,289 sq ft in 1997.
Other main findings of the eighth annual analysis which identifies the top 50 UK centres in terms of the demand for retail floorspace showed that:
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in-town demand in the UK went up by 22 per cent and out-of-town demand went down by 8 per cent;
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Birmingham is for the second year running the most popular location, with overall retail demand of 1.24 million sq ft from 147 retailers;
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the greatest demand is still based around the South East, with 18 centres in the top 50;
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nine of the top 50 centres demand exceeded one million sq ft in 1997 compared to only four in 1996;
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the greatest movement in rank was shown by Basingstoke (from 104th to 40th) with an increase in demand of 285,950 sq ft. Croydon has the highest increase in demand on 1996 with 354,100 sq ft;
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eight centres showed an increase in demand in excess of 200,000 sq ft from 1996 figures; and
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the West End although not in the top 50 centres showed the highest number of requirements for the UK at 161.
The analysis is based on information extracted from Retail FOCUS, the UK's largest independent database of retailers' requirements. The floor space rankings are based on all towns cited as requirements by the companies represented on Retail FOCUS.
Copies of the analysis are available from FOCUS on 0171 839 7684 or e-mail sales@focusnet.co.uk.