When you are thinking about a retail vacancy you saw advertised, you need to consider many things apart from the ordinary figure.  Leading UK commercial property advisers and consultants Jones Lang LaSalle note that it usually takes several months to assign a lease. On the other hand fit –outs and renovation processes can make the re-occupation process to take a little bit longer.

 

 

The firm says that non churn vacancies are technical and that in cases involving retail property there is limited prospects of the retailer showing interest. Jones Lang LaSalle point out that it is imperative for one to differentiate between high profile blots on the retail landscape and the ugly part of the retail vacancy-consider badly damaged shops, poorly located shops or buildings as well as extremely old shops. Most of these as a matter of fact will most likely not be reabsorbed in the market.

 

 

There are many things that you can do to make empty premises or damaged buildings ready for occupation. According to Jones Lang LaSalle the process of re-occupation and refurbishment can be a case of knocking together small units to create larger stores with uniform floor plates, or even carving up larger units to create a systematic series of smaller shops.  The firm notes that as the retail market changes the demands of the retailers and occupiers change as well. There is need for the investor to be dynamic and quick in thinking. The research firm cites out two examples, one of them is New Look and the other one is Next. The two retailers had an average store size of less than 5000 sq ft 20 years ago but at the moment they do not open stores of less than 10,000sq ft.

 

 

In a summary UK commercial property developers should ensure that the interest of their retailers is at the forefront. They should make sure that they find premises in suitable locations with enough spaces.