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More than 5000 businesses in the North of England have closed recently, according to the Sunday Sun. Authorities in the North have reported closures totalling 5,530 including warehouses, pubs, petrol stations, restaurants, shops and offices among the casualties. The investigation by the Sunday Sun follows a statement by the British Retail Consortium, who is hoping for success in the period leading up to Christmas, following a particularly poor month all over the UK. This has resulted in 11 percent of UK businesses standing empty.

Newcastle has the highest number of empty business premises with 1,030. Many of the premises are industrial units which haven’t been maintained by landlords, and now face being demolished. A spokesman for Newcastle City Council said:

“There are a high number of vacant units in Newcastle but the position has currently stabilised with the rate of new empty properties slowing down.”

The larger shopping centres which are managed and owned by the council are showing success as occupation levels remain at 93 percent. Sunderland figures don’t portray a realistic percentage, as many of the empty units are owned by one company. The shopping centre in Sunderland, The Bridges is fully occupied demonstrating the hard work to attract and retain investment to the area.

Durham refused to provide figures of empty premises for the report. Although business premises are empty, landlords still have to pay business rates. However, the local authorities collect the money on behalf of the government. The collected money is then distributed across the UK, resulting in less money in areas with large numbers of empty premises.

About The Author

Gary Fields

Content Writer working alongside our expert accountants to bring you the latest Tax and Accounting news.

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