One in five Princes Street shops could soon be empty

A FIFTH of shops in Princes Street could soon be lying empty as Scotland’s most famous shopping street struggles to cope with the retail slump, the growth in online purchasing and the continuing saga of the Edinburgh trams.

An investigation by The Scotsman has revealed that 11 out of 78 shop units on Princes Street are currently lying empty – a total of 14 per cent.

However, with four additional shops earmarked for closure, there could soon be 15 shops lying empty, making it 19 per cent unoccupied – more than twice the national average of 9 per cent.

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Figures from Edinburgh City Council show the famous street has declined steadily since 2007, when only 2 per cent of shops on Princes Street were lying empty.

Among the shops which have been lost have been Past Times and branches of Gap and Boots, while JJB, Clintons and Lush are on the verge of closure.

Research by the Edinburgh Chamber of Commerce suggests that Princes Street shops have suffered a loss of footfall of anything from 10 per cent to 50 per cent because of disruption caused by the trams.

And there are also fears that Princes Street is losing its variety – some 14 per cent of outlets on the famous street are currently occupied by mobile phone stores.

Councillor Joanna Mowat, whose ward covers the city centre, said: “To have what was once the premier shopping street down to one in five shops vacant is a huge cause for concern.

“My concern is not just the rate of vacancy but the quality of the shops as well. I walked down Princes Street from one end to the other the other day and it is looking tatty and down-at-heel. There is a real problem.”

Ms Mowat said she thought there needed to be a major relaunch of Princes Street once it reopens for traffic.

Leading figures in the city are pinning their hopes on the arrival of prestige brands such as Apple, which currently has no flagship store in Edinburgh.

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Yesterday developers Ogilvie Construction confirmed a building currently being refurbished at the east end of Princes Street was earmarked for “an internationally recognised retailer”.

The rest of the block will be occupied by German hotel owner Motel 1, which is looking for prestigious retailers to take the remaining units.

However, the problem is worst at the west end of Princes Street, where, in one stretch, one in three shops is empty.

Retailers represented by the Edinburgh Chamber of Commerce are currently appealing for a 20 per cent reduction in business rates on the ground that footfall has decreased by between 10 and 50 per cent during the tram works.

Sarah Cordey, of the Scottish Retail Consortium, said: “We would share the concerns of retailers on Princes Street.

“If you have a lot of empty premises in one area, it can very quickly make an area seem rundown. Consumers may not enjoy their shopping experience as much.”

But she said there were things that could be done to make empty shops appear more attractive.

“The best solution is for new retailers to move in, but in some areas things have been done to improve the look of empty shops. This could be putting wraps or artwork in the shop windows.

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“In some locations, empty shops have been used for community services or things like pop-up art galleries or pop-up cafés.”

Graham Birse, chief executive of the Edinburgh Chamber of Commerce, said: “We do need to avoid complacency.”

But he added that there were reasons for optimism.

He said: “We do not accept the premise that Princes Street is in an inevitable decline.

“We know there are problems for retailers and we expect to see a degree of openings, closings and relocations. But what gives us optimism about Princes Street is that it is prime real estate and a main thoroughfare through the Scottish capital.”

Edinburgh City Council said its own figures suggested Princes Street had 13 per cent of its shops empty in September 2011 – the most recent figures available.

Councillor Tom Buchanan, convener of the economic development committee, said: “Princes Street has attracted several new stores in recent years, which has greatly improved the shopping experience on the street, such as Primark, New Look and Urban Outfitters.

“We recognise, however, the need to attract new retailers to Princes Street to further improve the shopping experience in the city centre. It is positive that several units at the east end are currently closed for refurbishment to improve the block … A couple of national chains have also gone into administration leaving empty units.”

Denzil Skinner, chairman of business group Essential Edinburgh, said: “There is no doubt that the twin issues of the disruption caused by the tram works and the deep and lengthy economic recession have had an adverse impact on retail businesses, and Princes Street has borne its share of that.

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“Whilst it is true that the vacancy rate on Princes Street is higher than any of us would like to see, there are also some positive signs with new stores recently opened or about to open and several units closed for investment and refurbishment.”