One in eight shops is empty in UK because of the effect of recession. Kent in the country is the worst affected area. 27pc shops are empty in Margate and 24pc have been hit by vacancy rates in Wolverhampton, in the Midlands. According to the Local Data Company at the end of the December overall 12.4pc were empty. This company has analyzed almost 700- locations and for the first time it included town-centre shopping developments.
For the high street decline, recession, internet shopping and out-of-town shopping centers like Bluewater and Westwood Cross are responsible. Vacancy rates in The South and East, including London have risen by 190 per cent since September 2007.
"The fact of the matter is that Brits now do a lot more shopping over the web, so we're seeing a fundamental reshaping of high streets. We must encourage councils to make it easier for people to convert shops and people must accept that we won't go back to the high streets of yesteryear", said Liz Peace, Chief Executive of the British Property Federation.