Chippenham has emerged as one of the UK’s most successful retail centres, with its number of vacant shop units less than half the national average.
The town, which in recent years has attracted flagship stores such as Waitrose and Argos, appears as the best performer outside London in a table of 15 UK retail centres produced by property firm Colliers International.
Its latest National Retail Barometer – for the third quarter of this year – reveals Chippenham’s vacancy rates measured by its percentage of shop units remaining empty as just 5.2%. The national average is 13%. Only London’s shopping meccas of Kensington High Street and Oxford Street are performing better. 
Chippenham’s vacant unit rate has dropped from 9.2% in three-and-a-half years as more retailers have opened in the town.
And when the vacancy rate is measured by the percentage of its total retail floorspace, the town performs even better – with a rate of just 3.1%, less than a third of the national average of 9.5%. Again, it is only beaten by Kensington High Street and Oxford Street.
And while many towns and cities around the country have experienced sharp falls in the number of empty shops as the economy recovers, Chippenham remains the only town outside of London to enjoy rates in single figures. Bath does not appear in the table.
Earlier this month the town’s 82,000 sq ft Borough Parade shopping mall, pictured, which is fully let, was sold by joint owners Clearbell Capital and Tristan Capital Partners to London-based property investment firm Development Securities for £16.3m.
Colliers International retail specialist Nick Turk said the latest report suggested that Chippenham had weathered the worst of the downturn, with vacant space created by high-profile retailer liquidations being steadily absorbed by new entrants.
“Following rafts of retailer administrations and rapid technological and consumer change, we are seeing evidence that the high street is finding a new role within the retail hierarchy,” he said.
“By seeking the right mix of national and independent retailers alongside a strong leisure offer, our high streets can be positioned alongside online shopping rather than against it.”
The report also underlines the fact that most online shoppers prefer to collect goods rather than rely on home delivery.
Nick added: “The growth of online shopping will continue to influence the demand for physical stores and retailers are now more focused on building smaller networks of outlets that primarily target the strongest High Streets, shopping centres and out-of-town parks.
“The evidence suggests that a number of units remain unsuitable for modern retail requirements or are simply no longer required in today’s market.
“For retail landlords, the challenge is to provide a key point of difference which will attract shoppers. In this respect, an attractive leisure element and free or cheap parking is essential. All shopping environments need to continue to develop initiatives which will drive footfall and inevitably lead to greater retailer demand for shops.”
