26 Jun 19 by Joanne High
This year has continued to be a difficult one for the retail market with further CVAs and administrations announced. Plymouth has mostly managed to avoid store closures so far with retailers such as New Look, Debenhams, House of Fraser and Marks & Spencer all staying open for the time being.
We are still seeing demand for sub £25,000 per annum units with the more affordable units being of interest to local / regional occupiers. We have let two units on Market Avenue, in the city centre to local occupiers. The units went under offer very quickly, which just shows the level of demand.
But what is the future for retail and our High Streets? Well Lush set a great example of where retail needs to go to survive. They have recently opened their largest store in Liverpool, which is just under 15,000 sq ft! Inside they have a hair salon, florist – with potted plants in compost that is sourced from factory waste, a spa, perfumery, vegan and single use plastic free café and a children’s party area. They are providing an experience for everyone, pulling consumers into the City. This is the face of our High Streets – a diverse mix of all sorts of different experiences.