More than 6,000 retail premises have disappeared in England and Wales over the past five years, according to new research. Analysis of Valuation Office Agency data by tax firm Ryan found a net reduction of 6,045 retail properties since the end of 2020, with London recording the largest loss of 1,266 sites.
The South East saw 1,191 sites vanish, followed by the North West (-719) and North East (-672). The figures include premises demolished or converted for alternative use, such as housing. However, the data also reveals a recovery, with more than 13 retail stores opening each week over the past year.
At the end of 2025, there were 507,810 retail premises across England and Wales, a net increase of 723 compared with a year earlier. Property numbers rose in every region except the North West, which saw a decline of 41. Ryan attributed the boost to retail real estate firms like Hammerson converting large empty units, often former department stores, into smaller ones.
Alex Probyn, practice leader for Europe and Asia-Pacific property tax at Ryan, said: “The pandemic accelerated structural changes that were already emerging across the retail sector, including changing consumer behaviour, hybrid working patterns and a reduced reliance on traditional retail floorspace in many locations.” He added that many locations were “over-retailed before Covid” and high streets have evolved towards mixed-use environments.
The report warned the sector still faces pressure from higher business rates, labour costs, and cautious consumer spending. It comes as Office for National Statistics figures showed retail sales volumes fell by 1.3% in April, the largest drop since May 2025 and worse than the 0.6% decline forecast by economists.
