A REPORT analysing the use of department store properties across the UK and Ireland has found over three-quarters are now currently occupied or have planning applications pending – revealing a more positive side to the tide of closures which have dogged the retail industry.
The report undertaken by independent planning consultancy, and town centre and retail experts, Nexus Planning, looked at occupancy activity from 2015 to Autumn 2021 in 917 department store locations across nine major retailers, including now defunct Debenhams and BHS, which accounted for 347 properties.
The National Picture
Over 75% of department store properties are now occupied or have redevelopment plans pending
Almost 30% of properties have been repurposed for other uses
More than 14% of former department stores are currently – or will be – mixed-use
Affordable retailers have spotted opportunities to take prime High Street locations
Upward trend in entertainment, culture, independent businesses and organisations taking space
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