Retail unit availability on the rise

New figures have revealed that the amount of retail-related commercial property available to lease has risen in the last three months.

Cushman & Wakefield's Available Shops report has revealed that the number of shops up for rent increased by one per cent in the quarter to May, while 11.8 per cent of high street units in the UK are now thought to be available.

Around three per cent of those are believed to be free due to administrations, while the Midlands has the highest number of available units.

John Strachan, head of retail services at Cushman & Wakefield, said: "The average availability of shops across the UK has risen by over four per cent compared to the historical average.

"Although this rise of 0.8 per cent against the previous quarter is significant, it is encouraging that the number of units available as a result of administration has declined."

Cushman & Wakefield recently claimed that the UK commercial property market could be one of the first in Europe to recover from the economic downturn.