Commercial property vacancies 'growing on the high street'

Empty commercial property space is on the rise on the UK's high streets, new figures have revealed.

The Retail Availability survey from Cushman & Wakefield found that over ten per cent of shops in such areas are now vacant or available to lease, which may interest those seeking commercial property management opportunities.

According to the report, the figure represented a marginal 0.4 per cent increase over the past three months, although it is also around two per cent lower than the peak in August 2009.

Peter Mace, head of central London retail at Cushman & Wakefield, said the capital was a polarised market, due to low availability in the centre that is in stark contrast with figures in the suburbs.

"The high number of tourists that continue to visit London to capitalise on the weak pound have helped to reinforce central London's resilience," he added.

Previous figures from Cushman & Wakefield revealed that average retail property rents fell by over eight per cent during 2009.