It is only natural that the news that Stockport has more empty shops than the majority of the country has been taken badly in the local area. No one likes to see empty stores and vacant lots where businesses could be, and it is often a worrying sign about a local economy. The fact that close to a quarter of the entire units in the town are unoccupied isn’t great news but it shouldn’t be taken as disastrous news or news that cannot be changed. The findings have come from the Local Data Company, the LDC, and they found that 24.8% of the shops in Stockport were lying empty.
This means that Stockport is in the bottom 10 of areas across the country, and that’s never a chart rundown you want to be in. In Greater Manchester, only Wigan has a poorer rate, with a return of 25.8% while Bolton isn’t too far behind with 24% of stores lying empty. This perhaps suggests that there is a problem in Greater Manchester as opposed to just being a Stockport problem, and that there could be a number of factors to bear in mind when it comes to improving the local area.
Stockport has a lot of empty stores
The average level of empty stores in the North West stands at 15.3%, in England the average stands at 11% and in London, the level of vacancies stands at 7.4%, but of course, the situation in London is very different to the situation in the rest of the country so it isn’t always helpful to have London as part of your considerations. When you think about some of the more affluent areas of London, they are a world away from locations like Stockport and Wigan, so the comparison shouldn’t be taken too seriously or strongly.
Leaving aside London, there is no doubt that empty stores can be off-putting but they can be seen as an opportunity to move forward. We’ve all seen the strong level of investment that is taking place in Stockport these days and there is a greater level of focus on arts and cultural events. Rather than having stores lying empty and bringing nothing in, it may be that there will be opportunities for pop-up events or art gatherings. There is a great deal to be said for using these outlets as a way to generate interest and drive people towards the town centre, and there could be a benefit for all retailers and shoppers in Stockport.
The level of commerce and retail is linked with the property market so this is clearly a topic of interest at Spencer Harvey. However, we don’t believe it has to be disastrous news and if you’re looking for property market advice, we can help.