Cheltenham continues to be seen as a positive and successful retail centre.
Commercial property experts Colliers International praised the town at the launch of its Midsummer Retail Report in Bristol.
Punchline reported on the details included in the company’s report report covering the South West region.
Hal Clarke, senior surveyor, retail agency (south), said: “Polarisation between the ‘best and the rest’ retail locations is becoming increasingly apparent throughout the UK and this is no different for the South West.
“The dominant centres in the region, such as Bristol, Bath, Cheltenham, Exeter and Plymouth, continue to benefit from good levels of demand and relatively low levels of vacancy.
“An example is Cheltenham, where rents remain unchanged from 2017 and the town will welcome a new 115,000 sq ft John Lewis department store in October of this year.”
Mr Clarke added that The South West witnessed significant average prime rent growth in 2017 at 2.5 per cent representing the highest outside of London and the South East, although when secondary rents were included there had been a -1.4 per cent fall in rents after three years of consecutive rental growth in the region.
The report follows the publication of Knight Frank’s Top 200 Retail Ranking last year, which had Cheltenham ninth in the UK.
That report said: “’Affluent market towns’ such as Guildford, Chichester, Winchester and Cheltenham generally have strong fundamentals that transcend wealth alone.”