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September 26, 2019

7 Schemes Showing Dead Retail Space Can Be Turned Into Something New
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The UK has about 75M SF of void retail space. Retail property owners think we have between 40% and 70% too much retail space in the UK.

Those are the sobering headline figures from a new report, Re-Imaging Retail, from retail body Revo and broker Savills. It is one of the most in-depth reports yet into how retail owners are dealing with the vast swathes of obsolete space they own, rendered unprofitable by changes in consumer habits.

The good news is, the repurposing of space necessary to make it fit for purpose is now well underway. According to a survey in the report, 75% of landlords are now considering some sort of repurposing project, with leisure, food and beverage, and residential the most popular alternative uses.

Here are seven innovative UK projects and landlords that have sought to take retail space and turn it into something new.

Kommune Castle

7 Schemes Showing Dead Retail Space Can Be Turned Into Something New

Northpoint Developments had a problem that is becoming increasingly common in the world of retail. It owned an iconic five-storey department store in Sheffield previously occupied by the Co-op. At 80K SF, it was a big chunk of space to fill in an area of the city in decline. Northpoint…

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