The number of retail premises in England and Wales has increased for the first time in several years, with more than 13 stores opening each week over the past year, according to new data. Analysis by tax firm Ryan found there were 507,810 retail premises at the end of 2025, a net increase of 723 compared with the previous year.
The figures, based on Valuation Office Agency data, suggest the sector is stabilising after a prolonged period of decline. Property numbers rose in every region except the North West, which saw a drop of 41. London recorded the largest five-year reduction, losing 1,266 retail premises since 2020, followed by the South East (-1,191) and the North West (-719).
Experts attribute the recovery to the conversion of large former department stores into smaller units, and a shift towards mixed-use developments. However, the sector still faces pressure from higher business rates, increased labour costs and weak consumer sentiment. The 2026 business rates revaluation saw a 9.3% rise in rateable values for retail properties.
Alex Probyn, practice leader at Ryan, said the pandemic accelerated structural changes, including changing consumer behaviour and hybrid working. He noted that many locations were 'over-retailed' before Covid, and high streets are evolving towards more mixed-use environments. He advised retailers to review and challenge their rateable values where appropriate.
