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Loughborough Trading Well
Posted on 18/03/09
LOUGHBOROUGH traders and retailers have reacted with bemusement to a story in a national newspaper which suggested that the town had one of the highest rates of vacant shop units in the country.
The Sunday Times reported that the town had 23% of its retail units currently standing empty which is more than double the correct figure of 11%.
There are 563 retail, trade and business units in the town with only 63 standing vacant and the article has been criticised by leading town centre figures.
Adrian McInnes, Chair of the Loughborough Town Centre Partnership said: This bears no resemblance to our experience on the ground.
We monitor vacant shops and other indicators on a regular basis, and our figure is 11% which is about average. The town seems to be trading remarkably well given the difficult economic conditions
This view was confirmed by Baljit Kooner, Manager of the Carillon Centre.
She said: Our footfall is actually up 1% in the first three months of this year, defying the national trends. We have only one vacant unit at the moment.
Mike Tyler, of Tylers, added: Trade has been surprisingly strong since Christmas and our footfall figures confirm those of the Centre as a whole
Other indicators of Town Centre health are also strong in Loughborough and market stall occupancy rates are up this year so far on both Thursdays and Saturdays at 88%.
Ivor Lovesey, Chairman of the Market Traders Federation said Many markets are struggling but Loughborough is strong and our members are still trading well.
Cllr. Stephen Hampson (Conservative councillor for Syston East), Charnwood Borough Councils Cabinet member for Regeneration, said: It is annoying when the national press gets it wrong.
Were not complacent but we know the strengths of Loughborough and were working hard with the Town Centre Partnership and others to ensure the Town Centre continues to improve.
Next month well be publishing major proposals to enhance Loughboroughs public spaces following extensive consultations with local traders and interest groups.
Like many medium-sized towns in the UK, retailers in Loughborough are undoubtedly feeling the effects of the economic downturn but its unique position in the centre of the region with a thriving market and the positive effect on business from about 10,000 students for most of the year has enabled it to be more resilient than many.
Local views support the findings of independent researchers BMG in its report on Leicestershire Town and Village Centres published this month.
They found that Loughborough continues to perform well against other market towns in the County.
The town scores on highly on a number of factors including as a good place to shop, to do business and for leisure and entertainment.
In terms of overall satisfaction Loughborough is one of only two of the seventeen centres studied to have seen an increase in satisfaction since 2006 and people are most likely to describe Loughborough as Friendly, Safe, Busy and Attractive.
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