* Vacancy rate in top 20 UK retail spots 2.55 pct in Aug.
LONDON, Sept 19 Vacancy rates across the UK's
top 20 shopping malls and high streets fell to a 10-year low in
August, helped by strong demand for super-prime space from
international and UK retailers, data from property consultancy
The average August vacancy rate across retail locations such
as Capital Shopping Centres' Trafford Centre and
Hammerson's Bullring mall fell to 2.55 percent in
August, against 3 percent a year ago, DTZ said on Monday.
In London, there were effectively no vacant units on Oxford
Street, Bond Street and Regent Street, as well as in Westfield
Group's Westfield London shopping mall, DTZ said.
"International retailers currently acquiring space in the
UK, such as Forever 21, Hollister and Victoria's Secret, are
focusing on the top ten or twenty locations before moving on to
continental Europe and Asia," DTZ's Head of UK Retail, Hugh
"We don't see the number of locations that international
retailers are targeting increasing in the medium term."
Top global retailers are paying increasingly high rents and
premiums to take space in London's prime shopping streets,
forcing an expansion of the UK capital's shopping district as
other secondary locations grapple with high vacancy rates.
Such secondary locations may have to shrink to adapt to
reduced current and future demand, Radford said, and may see
some shops converted to other uses like offices and residential.
(Reporting by Brenda Goh)