Out-of-town retail potential

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RESEARCH from international real estate advisor Savills has revealed the 10 UK locations with greatest potential for uplift in out-of-town retail space, with Brighton taking the top spot.

Brighton would require an additional 587,000 sq ft of out-of-town retail space to bring it in line with the national average of 2.96 sq ft per shopper.

Portsmouth made the top 10, requiring 185,000 sq ft of extra space.

Savills said the second half of 2016 saw a significant number of new entrants out of town – including Fabb Sofas and Natuzzi.

Matt McCue, retail director, said: ‘The city’s two main schemes, Ocean Retail Park and the Pompey Centre, have restricted planning consents.

‘This lack of supply has led to the creation of successful retail parks in surrounding towns.

‘As such, there remains strong demand for high-quality retail warehouse developments in Portsmouth.’