The vibrancy of Guernsey’s retail economy shows no sign of slowing down following the release of the Guernsey Retail Group’s most recent occupancy figures.
In total, 14 shops have opened their doors across the Island over the past two years, with new leases equating to around £500,000 in rental income for landlords. The Guernsey Retail Group (GRG) confirms that the vacancy rate for St Peter Port now stands at 6.95% for quarter two to June, a 2.12% reduction compared with the first quarter of 2023. On the Bridge, Q2 stood at 7.14%, an improvement of 2.26% between January and March.
In the UK, the British Retail Consortium’s most recent statistics show the Q2 figure to be 13.9%, a drop of just 0.2% over the corresponding 12 months. St Helier’s town centre vacancy rate for the first two quarters of this year are 7.5% and 9.4% respectively.
Korinne Le Page, Head of Retail Development, said: “The 14 new shop openings and corresponding reduction in vacancies are tremendous news, as it shows we are performing very well across the Island. These bring choice to local consumers and illustrate that the sector is considerably healthier compared with the mainland.
“Much of this success can be attributed to the Retail Pathway scheme which sees landlords and businesses work collaboratively to provide short to medium-term rental opportunities for new and established retailers.’
Of the new openings, 10 are in St Peter Port, two on the Bridge, with two others at Port Grat and L’Islet. The recent opening of seven new shops in the Arcade is a further indication of the health of retail in Guernsey.
Ms Le Page added: “We strongly believe that Guernsey’s community needs and deserves a healthy and varied retail sector, so the GRG continues to encourage and support such positive developments for the benefit of all local consumers.”
