18.7% of Dundee retail units now empty

DUNDEE’S city centre has suffered a severe rise in shop vacancies since April 2014, with 18.7% of units now unoccupied.

The figure was revealed in the 2016 Midsummer Retail Report from industry experts Colliers International, which analysed the retail rental performance of 27 Scottish town and city centres.

Despite the surge in vacancies, the authors of the report acknowledged the city has better prospects ahead.

Ross Wilkie, Colliers’ Scottish retail director, said: “Dundee is simply over-supplied, as it has two shopping centres, which are the prime draw for retailers.

“The new Waterfront development is likely to be a big draw for cafes and other food and leisure businesses and it is hoped these new developments, including the proposed new V&A Museum, will boost the local economy and help improve the attractiveness of Dundee City retailing.”

The report branded Perth a “star performer” as it bucked a national trend of decline and stagnation in the retail rental market, achieving a 10% growth rate. Mr Wilkie added: “Perth is doing well and proving popular with retailers. As a historic city there is no real chance of building any more retail space.”

Just Perth, Glasgow (8%) and Edinburgh (3%) recorded increasing rents, with nine areas in decline and the remaining 15 classed as stable.