FARNHAM’S retail market is booming compared to other UK towns – despite uncertainty surrounding the Woolmead rebuild, a commercial property firm has said.

Citing a recent study, Curchod & Co said of 153 shops within Farnham’s town centre, just 11 were vacant at the time of its research, representing a vacancy rate of just 7.18 per cent. This compares favourably to the national average of 10.2 per cent.

The Farnham-based firm added a number of these vacant units are under offer; including 3 Town Hall Buildings, let this week to Blue Bear Bookstore, 112 West Street, 24 Lion and Lamb Yard and 6-8 South Street.

It comes after Berkeley Homes blamed Britain’s retail crisis for the recent inactivity on its Woolmead redevelopment, as reported in last week’s Herald.

Responding, Curchod & Co’s Matthew Seary said: “A number of national chains and well-known high street operators are facing insolvency, so it cannot be doubted that many retailers are finding the prevailing trading conditions very hard.

“However, as a historic market town, Farnham has many advantages over others across the UK.

“It is compact and has an architectural heritage that makes it a pleasant place for shoppers to visit. In addition, the small nature of many of the shop properties makes them ideal for independent traders and businesses.

“While this is not necessarily attractive to large, national chains and multiples, it does ensure there is a good mix of retailers, which is essential in ensuring a good level of footfall and a vibrant shopping destination.

“The ongoing redevelopment of Brightwells Yard and The Woolmead will provide a number of larger, purpose-built modern retail units suitable for larger retailers who have previously been unable to acquire premises in the town.

“It is a question of balance but will benefit Farnham by further improving its retail offer.”