Portsmouth & Southsea Retail Market Update
Thursday 23 May 2024
We are pleased to share with you a summary of retail transactions from the past year in Portsmouth & Southsea, prepared by our dedicated retail and leisure team, who were ranked 1st with EG as the Most Active Agent by number of disposals and acquisition in the South East.
The past year has seen a steady demand of activity and enquiries. This has mainly been fuelled by the lack of available spaces, resulting in available premises receiving a number of enquiries and offers within a short marketing period.
We have seen our hard work come to light with the Cascades Shopping Centre, as a number of vacant spaces have been filled and we are at more than 90% occupancy. We have also seen the success of the Pop Up Shop initiative in collaboration with the Council and the centre, which has helped small businesses try out a permanent retail space before committing. The applications for this have been huge, which shows there are still retailers out there looking for space.
Food and leisure enquiries have stagnated with the increased cost of living and food prices, especially for independent occupiers. However, coming into summer, we have seen these increase again, with occupiers starting to take advantage of fully kitted out spaces on the market.
Overall, the retail market in Portsmouth and Southsea is not only busy, but continues to grow in activity and vibrancy. The blend of local charm, historical appeal, and modern retail experiences ensures a lively and thriving commercial environment.
Click on the link below to view our Portsmouth & Southsea retail market update flyer:
