Unused high street retail spaces could deliver 25,000 new homes

Local publication, In Your Area, reports on new research suggesting that empty high street stores, including Debenhams, could provide space for up to 25,000 homes

The research studied the potential square footage of shop spaces used by 38 big retail brands that are due to close this year or have ceased trading.

It estimated that these ongoing closures will leave some 19,735,230 square foot of unused retail space across the UK.

The average UK property measures 790 square feet, meaning there is a potential for 24,981 new homes in the unused space.

The average new build house is valued at £297,104, equalling £7.4bn in new homes that could be developed and delivered to the market.

In particular, Debenhams’ extensive high street presence would account for the vast majority of the new housing stock potential.

The company has already liquidated 52 stores with the remaining 45 to close by 15th May this year.

These 97 stores are thought to occupy 13,628,740 square feet of retail space, enough for 17,252 homes with a current market value of £5.1bn.

Full article:

In Your Area - Unused high street retail spaces could deliver 25,000 new homes


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