Sponsored by
Increase in number of old Woolworths’ stores being hit by the wrecking ball
The number of former Woolworths stores being demolished rose by seven per cent last year.
Figures released today by the Local Data Company show that the number of demolished properties previously owned by the retailer rose from 1.3 per cent to 8.4 per cent in the year to January 2012.
The figure is believed to be an attempt by landlords to avoid empty property rates in unpopular locations where there is little retail demand.
Overall, 87 per cent of former Woolworths stores are now occupied. The best take-up has been in Yorkshire and the Humber area at 95 per cent.
Take-up has been less popular in Northern Ireland where just 62 per cent of stores are currently occupied.
The biggest group now using the outlets are discount retailers, including Poundland.
It, along with 99p Stores, B&M Bargains, and Poundstretcher, occupy 21 per cent of former premises.
The next biggest takers of ex-Woolworths stores are supermarkets. New owners include Iceland and Tesco Express, which together occupy 10 per cent of the properties.
Matthew Hopkinson, director at the Local Data Company, said: “It is encouraging to see 87 per cent 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.” Woolworths, one of the best known names on the high street, was one of the biggest casualties of the recession.
The chain’s first British store was opened by American Frank W Woolworth in Liverpool in 1909.
But the 99-year old group, which sold everything from pick ’n’ mix sweets to DVDs, went into administration in 2008 after it was hit by competition from supermarkets and online retailers.
The Local Data Company’s research was based on the 807 stores which closed on January 18, 2009.
Email to a friend
Print this page- Exclusive: Grayson takes lower deal from Leeds to make quick return with Huddersfield - Have your say
- Toddler ‘killed by poison used for his mum’s cannabis’
- Video: Scargill wins £13,000 damages after NUM ‘tried to disown him’
- Boy of 7 accused of racism for asking classmate why he is brown
- Court told welfare fears for pupils led to sacking
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Yorkshire
Thursday 23 February 2012
Today
Cloudy
Temperature: 11 C to 16 C
Wind Speed: 20 mph
Wind direction: South west
Tomorrow
Cloudy
Temperature: 3 C to 12 C
Wind Speed: 17 mph
Wind direction: West
Your view
Please sign in to be able to comment on this story.