Lincoln High Street Vacancy Rate Drops to Five-Year Low

Lincoln city centre has recorded its lowest shop vacancy rate in five years, with just 8.3% of commercial units standing empty according to new data from the Lincoln Business Improvement Group.

The figure compares favourably with the national average of 13.9% and represents a marked improvement from the post-pandemic peak of 14.7% recorded in early 2022.

What's driving the recovery

The recovery has been driven primarily by independent retailers and hospitality operators rather than national chains. Over the past 12 months, 23 new independent businesses have opened in the city centre.

The Cornhill Quarter redevelopment has been particularly successful, with all retail units now occupied and footfall up 22% year-on-year.