A guide to renting a shop in Liverpool
Liverpool is Merseyside’s largest city and one of the most densely populated areas in the North-West of England. It is a fun, energetic city with its own Tate Gallery, a number of cutting-edge museums, and an intriguing social past. Once the home to The Beatles, Liverpool continues to have a vibrant music scene, and the city’s major port has facilitated urbanisation and growth over the years. According to surveys, Liverpool is one of the friendliest cities in the world. High employment rates and cheap cost of living, combined with relatively modest property prices, provide residents with a high standard of living. All things considered, Liverpool is a fantastic location to start a business or open a shop, especially given the abundance of shops to rent in Liverpool.
Attractions
Liverpool offers something for everyone, resulting in guaranteed high footfall from both residents and visitors.
A city of culture, Liverpool is home to many famous galleries and museums, including the Merseyside Maritime Museum, Tate Liverpool, the Victoria Gallery and Museum, the Walker Art Gallery and the Museum of Liverpool.
With two of England’s top football teams based in Liverpool, it is no surprise that the city is regularly filled with match-day buzz. Not only do fans flock to the stadium, but many travel into the city centre to watch the match at one of the countless sports bars, beer gardens and cosy pubs.
As you might expect, Liverpool is also home to several Beatles-themed attractions including The Beatles Story Museum and the rebuilt Cavern Club where they made their debut in 1961.
Demographics
Liverpool is the tenth most populated English district, with a population of around 906,000, including a student population of 70,000. It has also ranked as the sixth most visited city in the UK, with 54 million tourists and 4.8 million overnight guests annually. Therefore, the city centre sees excellent footfall from residents and visitors, resulting in an ideal retail location.
Transport
Transport around Liverpool is made easy by the city’s extensive road and rail networks, which provide links across the UK. The vast local public transport network, managed by Merseytravel, includes buses, trains and ferries. The city’s airport and major port provide international transport links.
Top shopping districts
Shoppers have plenty of choices, with new shopping centres, boutique arcades, bohemian streets and farmers’ markets all available in the city centre. In turn, retailers can find a variety of available shops to rent in Liverpool.
Liverpool’s Bold Street was rated one of the best shopping streets in the country by Lonely Planet. Its range of independent stores selling everything from world foods to vintage clothes give it a unique and relaxed feel. Plus, with an array of independent cafés and restaurants, it is the perfect location for a day out.
Liverpool ONE is a shopping, residential and leisure complex in the heart of the city centre. It is the largest open-air shopping centre in the UK, with over 170 stores and services. Upon its completion in 2008, Liverpool ONE significantly boosted the local economy, as well as lifting Liverpool into the top five most popular retail destinations in the UK.
Located 7 miles east of Liverpool city centre is New Mersey, one of the largest retail parks in the UK. New Mersey is occupied by numerous household names and sees an annual footfall of 10 million.
Check out more of Liverpool’s retail parks and shopping centres on Completely Retail.
Costs
When comparing properties, ensure your rent fits your budget by calculating the percentage of your income that will go towards it. Retail businesses typically spent 5-10% of their income on rent.
Business rates are another important factor to consider. This is a tax on non-domestic properties, calculated using the property’s rateable value. You can find detailed information and calculate your business rates here.
Fitting out your shop can also be costly, especially if you are a first time shop owner. The average costs of a shop fitting per square foot in the UK are:
- Low specification – £60 per sq ft
- Medium specification – £90 per sq ft
- High specification – £140 per sq ft
It is a good idea to research and get quotes from the various tradesmen and specialists so you can compare rates and get the best deal. Buying from second-hand sites can also help you save money. Essential services such as water, gas, electricity, internet and insurance must also be taken into consideration. Look around to find trustworthy and competitive suppliers. You can read more tips on opening your first shop here.
Agents with Liverpool offices
Population
906,000
Annual visitors
54 million
Properties on Completely Retail
???You can see a great selection of shops to rent in Liverpool on Completely Retail here.