Data recently published by the commercial property information firm Costar has revealed that 83% of department stores have closed since the collapse of BHS in 2016.

Today, only 79 department stores in the UK are open compared with 467 five years ago.  This is extremely worrying for our high streets, the retail market and the commercial property market as department stores, known as anchors, pull people to the high streets to shop which benefits those local independent retailers who are close by.  Further, these department stores have created employment and contributed towards the infrastructures in high streets through the business rates they have paid.  Without these department stores, our high streets are much quieter, less vibrant and more likely to continue to suffer.

If you own a high street shop which you are considering selling, which is either vacant or occupied, contact us today for a no obligation offer.