The number of empty shops on UK high streets is falling at the fastest rate for at eight years.
High street vacancy rates have fallen from 15.1% six months ago to 13%, according to a new survey by property agent Colliers International, The Daily Telegraph reported.
The drop in the number of empty shops is the biggest since Colliers began its survey in October 2006. The reasons behind the fall are said to be a general improvement in the UK economy, and the growing confidence of retailers.
There have been fewer high profile administrations in recent times, after a flurry of collapses following the credit crunch that saw big names such as Comet and JJB Sports disappear. However, the collapse of Phones 4u and its 550 shops will put high streets under pressure once again, despite other electricals retailers moving in to take some of the stores.
The Colliers data showed that Kensington High Street in London has the lowest vacancy rate with just 2.1% of the shops lying empty. At the other end of the scale, vacancy rates in Lisburn, Northern Ireland were at 22.9%, while one in five shops are also vacant in Rotherham
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