Britain’s struggling high streets now have more bookmakers than commercial property convenience stores.
It is the first time small commercial property shops have been outnumbered by commercial property bookmakers, showing how they are being hit by the shattering economic recession.
Research from the Sunday Mirror found that there are now 6,695 high-street commercial property stores selling groceries, sweets, cigarettes and newspapers, a 1.4 per cent drop over four years.
At the same time the number of town centre commercial property betting shops has soared by 10.5 per cent, taking the total to 7,952. The figure for money-lending commercial property shops and pawnbrokers has also risen as squeezed households turn to them to pay the bills.
Paul Freathy, Stirling University retail management professor said: “People just don’t want the hassle of going into a town centre. They prefer an out-of-town supermarket where everything is under one roof and they don’t need to search for an expensive parking place.
“Independent shops are finding it really difficult to compete. Some will survive by being really good at what they do, but many will continue to close in coming years. More charity shops will open up because landlords would rather have someone in the space than nothing at all.”
He further added: “The rise in gambling shops and pawn shops is also a reflection of the tough economic times we are in.”
Research by the Local Data Company for the Sunday Mirror, which tracks shop numbers in 490 towns, found that the number of charity shops has increased too.
Matthew Hopkinson, Local Data’s Business Development Director said: “The rise in pawnbrokers and money-lending shops demonstrates an-alternative form of finance for millions of people and suggests mainstream credit is no longer available in the same way that it used to be.”
It is the latest sign that high streets are being radically changed by the economic downturn, with a wave of big-name commercial property closures and other commercial property retailers including Tesco suffering the worst Christmas in decades.
Campaigners blame commercial property retail parks and out-of-town super-markers for pulling families away from traditional town centres, turning them into ghost towns.
According to the Local Data Company, 14.6 per cent of commercial property shops lie empty across the country but in 74 areas more than a quarter are vacant.
Shane Brennan, of the Association of Convenience Stores, said: “We need to think about new ways to reinvigorate these areas to improve diversity and make sure there is a wider range of choice for shoppers.”
Meanwhile, cash-strapped consumers seeking a cheap treat enhanced William Hill’s traditional High Street bookmakers’ shops.
The commercial property company, which has main offices in London and Leeds, takes more than a million bets a day. The company reported 11 per cent growth in over-the-counter bets for the fourth quarter compared with the previous year and a seven per cent rise in gross win – total bets minus pay-outs – from its gambling machines.
The commercial property firm has around 3,000 staff in Yorkshire, including more than 1,100 in Leeds, its original home and now the location of its commercial property retail operational office and online operations.
William Hill’s performance contrasted with weak performances from British commercial property retailers who have struggled to negotiate harsh trading conditions.
