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News Archive - September 2009

Shop Vacancies Continue to Climb

Shop Vacancies Continue to Climb

THE NUMBER of empty shops across England and Wales has risen from 4.5% to 12% a year ago according to a new report by the Local Data Company (2) that covers every area of the country.

The report, backed by the British Property Federation (BPF), shows Margate to be one of the worst hit areas with vacancies increasing from 5% to 25% while Derby is up from 8% to 22%.

The BPF has expressed its dismay that the Government continues to tax empty properties by making the lease holders pay full business rates. The Federation wants empty property rates (EPR) to be scrapped and a re-think on changing the planning use of buildings to enable empty shops to be more efficiently used for non-retail pursuits.

The EPR tax is paid by whoever owns the lease, meaning that occupiers are also affected if they have a long term lease. The BPF has said it’s the equivalent of making the unemployed pay income tax.

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