Empty shop units in Lancaster city centre are at their lowest level for almost six years as new businesses spring up despite the cost of living crisis, says Lancaster BID.
The Lancaster Business Improvement District says that vacancy rates in shop units has "continued to fall" and is now below the national UK level for the first time during that six-year period.
In addition, the BID says high street footfall is continuing to climb from last year and "is significantly closer to returning to pre Covid levels than the rest of the UK".
Figures released by the BID say that for the year to end of August, Lancaster footfall was just 7.4 per cent below 2019 levels for the same time period compared with an 18.8 per cent decline which is the average figure recorded across the UK.
The past year has seen a steady stream of new businesses opening in the city centre.
Recent additions include Table Top Republic and Thai Thai Massage & Spa on Damside Street, Meet The Makers in Marketgate Shopping Centre, Seoul Food on Lower Church Street, Perilicious on Penny Street and Runner Duck Wine Room on King Street (pictured below).
Further new businesses are set to open their doors soon including Geek Retreat in St Nicholas Arcades, Boba Boba Bubble Tea House on Market Street and Pure Vegan Café on Thurnham Street.
“It is very positive to see so many new businesses having the confidence to open in Lancaster city centre," said Tony Johnson, Lancaster BID manager.
"It is particularly notable that so many of the new businesses are independent, strengthening Lancaster’s reputation for offering a unique mix of businesses which can’t be found elsewhere. With over 60 per cent of city centre businesses being independently owned, everyone can be sure to discover their own favourite."
Aside from the independent businesses arriving in Lancaster, 2022 has also seen the opening of new Nando's and Zizzi restaurants on Market Street in the former BHS building.
The BID conducts a count of vacant units in the city centre each quarter. The team also conducts footfall counts, showing the number of people who visit Lancaster centre.
Lancaster BID Ltd is a not for profit company led by a management board comprising largely private sector members which aims to create a more prosperous city centre.
All business properties with a rateable value of £10,000 and above within the BID area pay an annual levy of 1.5 per cent of the rateable value of their business. These payments currently generate a budget around £220,000 per year to spend on improving and promoting the city centre.
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