UK retail warehousing vacancy rates rose to 6.4% at the end of 2024, according to the latest research published by Trevor Wood Associates.
In 2017, vacancy rates stood at 4.9%, which rose to 5.8% at the end of 2023. The vacancy rate fell to 5.1% at the end of H1 2024, but rose in the second half of the year.
However, the vacancy rate fell to 6.2% in Q1 2025 and Trever Wood Associates expects a further mid-year fall.
Liz Williamson, from Trevor Wood Associates, said: “During the past year, little development has taken place, helping to minimise the impact of the demise of two staples of out of town retail in Carpetright and Homebase as well as downsizing by Argos, Poundland, Poundstretcher and others. This meant the amount of available space at the end of 2024 was considerably higher than at the end of 2023.
“The Q4 2024 vacancy rate is now 6.4% but this is still lower than the vacancy rate of 7.8% recorded three years ago. The largest increase saw the rate for bulky or restricted and open A1 non-food units soar from 4.1% to 6.7%, but the open A1 vacancy rate remains at 6.0%, showing there is still demand for quality units.”
