More than 23 Retail Premises a Week Lost for Good Across England and Wales Since Pandemic-Era Reset

More than 6,000 retail premises have disappeared from England and Wales over the last five years as high streets adapted to major structural changes following the pandemic, although the analysis suggests the pace of contraction may now be beginning to stabilise according to a new report by global tax firm Ryan.

The analysis found the total number of retail premises across England and Wales fell from 513,855 at the end of 2020 to 507,810 by the end of 2025 a net reduction of 6,045 retail properties.

That equates to more than 23 retail premises disappearing every week over the five-year period.

Unlike traditional shop closure data, the figures do not simply reflect temporarily vacant units or retailers entering administration. Instead, they point towards retail premises that have permanently disappeared from the retail landscape altogether, having either been demolished or converted into alternative types of use.

London recorded the largest five-year regional reduction, with 1,266 retail premises disappearing over the five-year period, followed by the South East (-1,191), North West (-719) and North East (-672).

Ryan’s analysis also identified early signs that the pace of contraction may now be stabilising. The total number of retail premises across England and Wales increased by 723 between the end of 2024 and the end of 2025. Property numbers increased across every region of England and Wales, with the exception of the North West (-41), suggesting parts of the sector were now beginning to rebalance following significant structural contraction seen since the pandemic.

The figures come as Ryan’s 2026 Annual Business Rates Review, a benchmark report, highlighted that the retail sector saw a 9.3% increase in rateable values at the 2026 business rates revaluation despite significant structural changes across the retail landscape between valuation dates.

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.

“Many locations were arguably over-retailed before Covid and high streets have evolved towards more mixed-use environments, with retail space being rebalanced alongside growing demand for residential, leisure, hospitality and service-led uses.

“The revaluation outcome does suggest a large proportion of retail premises have seen bigger increases in their assessments than underlying market conditions and rental evidence would have led occupiers to expect. Retailers should therefore carefully review and, where appropriate, challenge their assessments.”