UK retail footfall hit by record weather in May - TAB reacts to BRC data

05 June 2026

Karen Rodrigues, director of sales at commercial mortgage lender and bridging specialist TAB, said:

"Retail footfall in the UK was under pressure in May as record temperatures kept consumers away from shops. And the 3 per cent fall is actually an improvement on a dismal April, where we saw double-digit declines - although some of that was down to the timing of Easter.

"The long-term problem is that high street retail is facing structural challenges, and weather-related challenges or the two bank holidays in May only compounded the pain.

"This is why many property investors are no longer viewing retail space purely through a retail lens. They are identifying opportunities to repurpose underused shops and commercial premises into residential accommodation, particularly in locations where housing demand remains strong. Investors are increasingly looking at vacant or struggling high street assets and asking whether the highest value use is still retail. In many cases, the answer is no. Changing a property's use, such as converting a high-street property into a large HMO, is becoming more attractive.

"Permitted development rights have accelerated this shift. A well-located high street property can often offer a compelling residential conversion opportunity - whether that is through upper floor redevelopment, mixed-use schemes or full change of use projects.

"From the perspective of commercial lender and bridging specialist, we are seeing strong appetite from experienced investors seeking funding for these sorts of projects. While retail trading conditions are challenging , the underlying value of high street property is not disappearing. For many investors, it is simply being unlocked in a different way."