From dormant to dynamic: Unleashing the value of empty retail spaces

In today's dynamic retail landscape, empty retail units are no longer just vacant spaces waiting for long-term tenants. They've become golden opportunities for both property owners and innovative brands looking to make a splash. These spaces are transforming into hotspots for brand activations, experiential marketing campaigns, and immersive experiences, offering unique benefits to all parties involved.

For property owners, particularly those awaiting planning permission or being selective about long-term tenants, short-term space hire offers an attractive proposition. Short-term tenants often pay a premium for these spaces, providing a lucrative income stream during what would otherwise be a vacant period. This arrangement can also offer relief from the burden of business rates on empty properties. By securing short-term bookings, landlords can potentially reduce their liability while generating income. Unlike long-term tenants who may require extensive renovations, short-term hirers typically use the space as-is, reducing costs and complications for landlords.

Hosting high-profile brand activations can elevate a property's profile, making it more attractive to potential long-term tenants in the future. The flexibility of short-term lets allows landlords to retain control over the duration and frequency of bookings, ensuring it aligns with their long-term strategy. This approach not only generates immediate revenue but also enhances the property's appeal in the long run.

From the perspective of brands and agencies, these empty retail units offer exceptional opportunities. They provide access to rare, high-footfall locations that are typically unavailable for short-term hire. The flexibility of short-term contracts allows brands to create pop-ups, product launches, or seasonal experiences without long-term commitments. These spaces often come as a blank slate, allowing brands to fully customise the environment to match their vision.

Compared to building a permanent retail space, short-term rentals can be a more budget-friendly way to create impactful brand experiences. They also serve as excellent testing grounds for new concepts, products, or markets before committing to a permanent location. This low-risk, high-reward approach is particularly valuable in today's fast-paced market where consumer preferences can shift rapidly.

We've seen first-hand how these short-term activations can breathe new life into empty spaces. Let's explore some recent examples that showcase the versatility and impact of these temporary transformations:

We placed this immersive and enchanting exhibition in a large former retail unit, creating a magical, dreamlike world until 2025. Visitors can explore 18 artistic installations combining dreams, soundscapes, and magical projections. From a candy-pink ball pool to a room suspended from the ceiling, this experience demonstrates how empty retail spaces can be reimagined into captivating environments that draw crowds and create unforgettable memories.

In July 2024, we sourced an empty retail unit on Piccadilly which was transformed into a vibrant pop-up for Starbucks. This activation allowed Londoners to sample Starbucks' new summer drinks range, including four new cold foam flavours. The pop-up featured interactive elements like drink selfie printing and a Glambot-style photo shoot, showcasing how short-term retail spaces can be used for product launches and brand engagement activities.

We secured a large space in Borough Yards before it was due to be converted into long-term retail units. This multimedia exhibition combines visuals, sound, and augmented reality to bring South Korea's rich cultural heritage to life. With 12 large-scale digital installations, the exhibition demonstrates how empty retail spaces can host cutting-edge, technology-driven experiences that attract visitors and generate buzz.

These examples illustrate the diverse ways in which empty retail units can be utilised, from immersive art installations to interactive brand experiences and cultural exhibitions. They demonstrate the potential for these spaces to create unique, memorable experiences that benefit brands, property owners, and local communities alike.

Whether you're a property owner with space to let or a brand looking for your next big activation, the potential of empty retail units is too significant to ignore. For landlords, if you have a property that could benefit from short-term, high-impact tenants, consider exploring this option. It could provide a valuable income stream while you await long-term occupancy or planning permission. For brands and agencies, these unique spaces could be the perfect backdrop for your next campaign, offering prime locations and the flexibility to create truly memorable experiences.

Don't let empty retail units go to waste. By reimagining these spaces as opportunities for short-term, high-impact use, we can create win-win situations that benefit property owners, brands, and local communities alike. If you're interested in exploring the possibilities – whether you're a property owner with space to offer or a brand seeking the perfect location for your next activation – we encourage you to reach out to our lo:studio team. Together, we can unlock the full potential of these valuable spaces and create experiences that leave a lasting impression.