A recent survey of 350 UK commercial property owners, commissioned by SafeSite Facilities, indicates that 76% of commercial landlords have experienced a rise in vacancy levels over the past year. The findings show that 81% of landlords had at least 10% of their portfolio vacant for more than three months during that period.
Paul Goossens, operations director at SafeSite Facilities, stated that the market is complex due to factors such as the cost of living, international political events, and an increase in flexible working. He noted that the issue is not limited to high streets, with an increase in empty commercial property observed "across the board."
Among those surveyed, 42% reported a significant increase in vacancies. Warehouse and industrial landlords saw 78% report rising vacancies, while 75% of office landlords reported an increase. For retail properties, 72% reported rising vacancies, and for hospitality and leisure property, the figure was 68%.