North East bucks the trend as retail permissions rise

The North East has outperformed the national trend in the retail sector – with just 2.6 years’ worth of stock on the market at the current pace of take-up, against a national figure of 2.8 years. Only four regions performed better than the North East by this metric. This performance has been noticed by retail landlords and developers, with permissions for new retail space in the region jumping 17% against last year – bucking the national trend, which indicated almost a 40% drop in permissions for new space amid what has been a turbulent twelve months for the physical retail