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Manchester and Liverpool named amongst UK’s top 50 high streets

Manchester and Liverpool have been named as two of the UK’s top 50 best performing high streets in a new report.

Cambridge and Guildford topped Cushman & Wakefield’s list of the most resilient retail locations outside of Central London.

‘UK High Streets: Dead or Alive?’ grouped the top performing retail centres as well as those struggling for survival.

In the North West, Liverpool (34), Manchester (38) and Chester (47) all sit within the top 50 high street locations.

However across the region, rental growth is down by 38% with vacancy rates for high street units currently sitting at 14%.

The focal point of the report was the Retail Resilience Index, a ranking of 250 towns based on 22 economic, demographic and retail property metrics, most of which have been tracked over a 10-year period.

These metrics include retailer demand, leisure spend, floor space density, rental change as well as broader economic indicators such as house prices, catchment demographics, business survival rates and tourism spend.

George Lowe from Cushman & Wakefield’s Retail team in Manchester says: “The North West retail market is undoubtedly going through a challenging period, with many traditional retailers downsizing and focusing on the online side of their business.

“We have seen retailers making efforts to broaden the customer experience, encompassing elements of leisure and food and beverage into their offering.

“Altrincham in Cheshire has been something of success story following the refurbishment of its market hall and the opening of a new health and wellbeing centre. The result has been an increase in footfall and reduced vacancy rates.

“The outlook remains positive however, with our Retail Resilience Index ranking Liverpool and Manchester in the top 50 most resilient retail locations in the UK.”