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28
Jan
BID reports on good level of investment in Ripon
With retail vacancy rates below the national average and evidence of investment across the city, Lilla Bathurst, the manager of business support organisation the Ripon BID, has good reasons for optimism.
Last week the Stray Ferret broke the news that retail giant NEXT will be taking units at St Michael's Retail Park on Rotary Way, where M&S is in the process of expanding the floorspace of its Simply Food store.
Meanwhile, the city centre has seen the recent arrival of e Sushi and Gallery 32 on Kirkgate, the opening of the Alistair W Baldwin garden design studio on Fishergate and refurbishment of the Black Swan pub on Westgate.
Ms Bathurst, said:
There's more to follow, with the Edinburgh Woollen Mill due to open in the former Halifax Bank unit on Market Place South and Sterne Properties' rejuvenation of the Spa Baths building underway.
In March 2024 we had a 12% vacancy rate in the city centre and we currently have a 7% vacancy rate - a 5% drop. This compares with the national average that stands at 14%.
Whilst we know of some units that will become vacant shortly we are seeing good investment levels in Ripon and the BID is in touch with businesses who would like to come into Ripon and with current Ripon businesses who are looking to expand.
A window display in the former Mountain Warehouse store on Market Place West, which became vacant when the retailer relocated to larger premises on Market Place East.
Ms Bathurst, added:
With funding from the UK Shared Prosperity Fund, we engaged the Vacant Shops Academy to discover the issues behind the current vacant retail units, working with landlords, agents, North Yorkshire Council planning and conservation, plus the new combined authority to get units filled.
We are now being used by landlords, agents and potential tenants as a useful resource to help match tenants to properties.
Working in liaison with Ripon Civic Society, we are helping to highlight available retail space with window displays that show the potential of vacant units, while underlining the city's heritage.
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