Three years after Woolworths shut down, a large number of its stores have been taken up by discount stores (29%) and supermarkets (17%), according to the Local Data Company.
Poundland, 99p Stores, B&M Bargains, Poundstretcher and Tesco Express are just some of the shops that have replaced old Woolworths shops, with the number of demolished properties rising from 1.3% in January 2011 to 8.4% in January 2012.
Matthew Hopkinson, director at the Local Data Company, said: “It is encouraging to see 87% of the old Woolworths shops now occupied. It reflects the fact that Woolworths was once the anchor store in many centres and that the current market has enabled greater opportunity for retailers to relocate to more prime locations due to high shop vacancy rates.
“The significant rise in the number of demolished properties is noteworthy and may be connected to empty rates relief being abolished and the state of the market in these tertiary locations with little or no retail demand.”
Source: Local Data Company
Comments