Property & Construction
Shop closures mount; homes plan; Gartcosh extension
More than 1,200 chain stores closed in Scotland in 2020, with just 612 openings, continuing a trend that has developed across high streets in recent years, leading to 14% fewer stores compared to 2016 as shoppers migrate to online shopping.
The 1,264 closures – which do not include stores temporarily closed because of lockdown restrictions – is in line with the 1,288 closures in 2019, according to the latest PwC research compiled by the Local Data Company (LDC).
When openings are taken into account the net change in store numbers is -4.1% in Scotland, compared with -4.5% across Great Britain – where there were 17,532 closures compared to 7,655 openings.
The SNP has committed to delivering 100,000 affordable homes if re-elected which it says will support £16 billion in investment and up to 14,000 jobs a year.
Construction has begun on an extension to the Gartcosh Industrial Park.
The development of a further two high-specification industrial units follows last year’s completion of Phase One and the news that DX Network Services, the logistics services company, has become its first tenant.
The Park is a joint venture between Fusion Assets and J. Smart & Co. (Contractors) and the two Phase Two units now being built will offer 16,000 sq ft and 24,500 ft respectively, once completed later this year.
The demand for industrial and logistics space in the Central Belt is strong, according to agents.