The FACTS on Gloucester’s retail landscape since 2010 – 40% fewer empty shops!

In light of the recent article on Gloucestershire Live and some of the subsequent comments the following will be useful in setting the matters straight – demonstrating that the true story of Gloucester’s retail environment has been one of steady improvement and success over the last 7 years:

It is true that the city has gone through difficult times.  In 2010 the BBC reported on data issued by The Local Data company that stated that Gloucester had amongst the highest number of empty shops in the UK http://www.bbc.co.uk/news/uk-england-gloucestershire-11925423 . The city’s retail vacancy rate in 2010 was recorded at a high 21%.

Since then a lot has changed.  Millions of pounds have been invested in city regenertaion and a strategy was formulated and action taken to stimulate growth, with the city council high street initiatives providing funding and rate rebates to new businesses.  Funding has been put aside for grants to enable renovation of the city’s historic shops and investment continues to be made in Marketing Gloucester to help deliver footfall driving events and promote the city, something that has been highly effective with visitor numbers increasing by over 60% since 2013.

From 2010 to today there has been a 40% reduction in the number of empty shops

Today the retail vacancy rate for the whole city is 11.6% with Retail vacancy rate for the four Gate streets, Kings Square and the historic central Gloucester having fallen to 12.4% – this is almost exactly the same as the current national average for retail vacancy rates which is 12.3%.  By any measurement this is a success story.

Central Gloucester

Currently, Gloucester Quays, the Business Engagement team at Marketing Gloucester and the city council are receiving high levels of inquiries from national and local organisations who wish to follow the example of TK Maxx , Ted Baker and Cote Brasserie whose research has shown Gloucester as and ideal place to locate.   There has also been a crop of independent businesses starting up or expanding in the city.  There are many more ready to invest in the beautiful historic city.

The failing of Argos, BHS and a small Coop shop should not be seen as harbingers of doom for the city but are merely reflections of national retailers with failed models of operating or those seeking to change their operating practice.

The current successes though are likely to be nothing compared to those that are ahead in the bright future for the city.  There are currently massive regeneration projects going on around the city that will further stimulate growth. In 2016 Gloucester’s population overtook that of Cheltenham and is set to continue to rise, this  in itself will stimulate the retail sector further and lead to lower vacancies, as will the location of thousands of students to Gloucester by the University of Gloucester.

Yes the FACTS on Gloucester’s retail landscape since 2010 – show 40% fewer empty shops with plenty or reasons to believe that the improvement will continue.

 

 

 

 

 

Regards

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