Cambridge once again tops the HDH retail vitality rankings
Cambridge has again been named as the UK’s leading retail location according to a list scoring Britain’s best and worst retail centres. The university city topped a list of 1,000 retail centres compiled by strategic retail property consultancy Harper Dennis Hobbs.
The HDH 2019 Vitality Index determines the retail health of a shopping area based on the proportion of upmarket and discount stores, vacancy rates, as well as the number of less aspirational tenants, such as pawnbrokers, money lenders and bookmakers. The suitability to the local shopper is a key factor, meaning that the presence of low-end retailers is not necessarily a bad thing as long as the local area consists largely of residents that prioritise value for money.
Cambridge – which also took first place in 2017 when the last Vitality Index was published – saw off competition from retail destinations in London, including Westfield London and Knightsbridge.
Market towns that dominate a small but affluent, and relatively rural catchment area, continue to score well – in many cases they are proving to have a ‘healthier’ high street than some large cities. Marlborough, in Wiltshire, has fallen in rank since 2017 but remains in the top 10, while two notable examples in the top 50, Berkhamsted and Marlow, have climbed in the ranking due to a fall in vacancy rates and growth in quality retail in those towns.
Taking the dubious title of least vital shopping destination for a second time was Byker Shields in Newcastle, followed by Stretford in Greater Manchester and Kirkby in Merseyside.
Jonathan De Mello, Head of Retail Consultancy at Harper Dennis Hobbs, said: “While the big cities and most prominent shopping malls should absolutely be a key priority for any retailer trading in the UK, this research highlights the fact that small but flourishing towns and suburbs can be viable retail locations, particularly as rents are typically more affordable.”
