Less than a year after being voted the 海角视频鈥檚 best place to live, Solihull has been identified as one of the country鈥檚 top shopping locations.
According to property agent DTZ, the upmarket town will be one of the five healthiest retail destinations in five years鈥 time alongside the West End of London, Surrey, west and north west London, and Oxfordshire.
The research is based on a number of factors, including population growth, unemployment rates, consumer spending forecasts, household income, high street vacancy rates, and the quality of retail currently on offer.
Jonathan Rumsey, associate director for retail market analysis for DTZ, said Solihull stood out as the list was generally dominated by London and the South East.
鈥淚t does pop out where you have got London and the South East areas that make up the majority of improving areas,鈥 he said.
鈥淚t has got a very strong demographic catchment with wealthy achievers and rising prosperity 鈥 the healthy, wealthy and most confident consumers.
鈥淪olihull has a very high proportion of those compared to other areas around the 海角视频.鈥
The selection comes after uSwitch.com鈥檚 Quality of Life Index put Solihull at the top of the list.
That study assessed 138 areas on 24 elements, including salary, disposable household income and the cost of essential goods, such as fuel, food and energy bills, as well as influences such as working hours, life expectancy and hours of sunshine.
DTZ鈥檚 Retail Property Health Index (RPHI) currently identifies the West End, Surrey, Oxfordshire, Brighton & Hove and York as the five top retail locations, but the latter two drop off the list for 2019.
The RPHI uses historic and forecast economic data for population, unemployment and consumer spending, as well as demographic data about the relative affluence of households.
Retail characteristics include the volume and type of floorspace, vacancy rates and competitiveness in terms of retail sales spending.
Mr Rumsey added: 鈥淎t the moment Solihull has got a very low vacancy rate compared to other areas across the 海角视频.
鈥淲e may see that decrease further which could lead to positive rental growth. Solihull鈥檚 inclusion will come as a surprise to some but it has a strong demographic mix and a low vacancy rate.鈥
Mr Rumsey added he believed a strong retail sector in areas like Solihull proved talk of the death of the high street was premature.
Other retail 鈥榟otspots鈥 to watch as being on the up included Berkshire, Cheshire, Worcestershire, Northamptonshire and Shropshire.
Solihull BID manager Melanie Palmer said the town boasted a strong mix of high street brands and boutique independents.
She added: 鈥淪olihull bucked the trend during the recession with very few vacant units, packed events and festivals and a steady stream of new brands arriving in the town.
鈥淲orking closely with our partners across the town centre we have also managed to secure a coveted Purple Flag Award for our diverse evening economy and late night offering.鈥
Ms Palmer said the town was on course to deliver on DTZ鈥檚 prediction, particularly with a multi-million pound investment by IM Properties in Mell Square in the pipeline as well as further investment in Touchwood.
She added: 鈥淭he investment planned in both Mell Square and Touchwood will transform the town even further over the next few years and it is this opportunity for further growth that DTZ has identified.鈥
