Ben Tebbutt: 'Idea that city is suddenly on its knees is nonsense'

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Tuesday, February 07, 2012
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Nottingham Post

WE produce our own survey and we certainly count things in a different way to LDC. We've got a knowledge about the retail market which a hired researcher won't have and if we see an empty unit which we know has been let, we won't count it. They will.

Even allowing for that, I cannot understand how they have arrived at a vacancy rate of 29 per cent for a retail destination of Nottingham's size and scale. For a major UK city, it is just bizarre.

I know that they count parts of the city that we don't but I doubt that on its own is the reason for the discrepancy. They also did their count in November, when many of the units in Broadmarsh had been cleared for redevelopment, and I'm sure that has had an impact on this number.

But if this is the case, LDC needs to be explaining these numbers much better. You shouldn't be suggesting Nottingham has a particular problem when there are specific, one-off reasons for a large chunk of the vacancies.

Nottingham faces the same challenges that all major retail destinations do, and it's got to think hard about what it does with vacant retail property in the online era. But the idea that a city which had the sixth-biggest retail spend in June is somehow on its knees by November is complete nonsense.

I'm baffled by their figure. I recently let a unit on one of the major shopping streets in the city centre and I had a queue of six retailers interested. We're also on the verge of major investment by CSC, which can now develop both shopping centres in a compatible way.

I just do not recognise the picture that LDC paints.

Ben Tebbutt is a director of Nottingham commercial property consultancy FHP

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3 Comments

  • Profile image for Bingethink

    by Bingethink

    Tuesday, February 07 2012, 10:56AM

    “You only have to walk round the city centre to see than nothing close to 1 in 3 shops is empty. A ridiculous survey.”

  • Profile image for inoffthered

    by inoffthered

    Tuesday, February 07 2012, 9:34AM

    “I wouldn't expect anyone working in commercial property to have said anything else....they have a vested interest in suggesting that Nottingham is a vibrant place instead of the grotty,run down and rather seedy place it has become.

    It will take more than a bit of spin to attract people back into the city many of whom will have found other places to shop or will now prefer the ease of buying stuff on the internet.”

  • Profile image for mof_gedling

    by mof_gedling

    Tuesday, February 07 2012, 9:09AM

    “we can all make excuses,would a day tripper know that broadmarsh has been cleared for development ? even if a shop has been let its still an empty shop until its open for business,
    question, when is an empty shop not an empty shop ?”

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