'Very good resilience': Number of empty shops in Hawke's Bay revealed

Emerson St in Napier CBD. A report has shown the region has performed well in terms of shop occupancy throughout Covid. Photo / NZME

The resilience of business owners in Hawke's Bay has received high praise from one analyst, following a report which highlights the number of empty shops has not increased during Covid.

Hawke's Bay property analyst firm Turley and Co surveys the number of empty shops around Napier, Hastings, Havelock North and Taradale town centres every six months and publishes its findings.

The latest survey found that, as of March, there were 33 empty shops out of 510 in those town centres.

That equates to a 94 per cent occupancy rate.

It is a slightly better occupancy rate than at the start of the Covid pandemic, when there were 35 empty shops.

"The latest occupancy survey is considerably better than some comments suggested was likely," the report read.

"Hawke's Bay physical stores retail occupancy is displaying a stable trend and very good resilience to Covid effects."

Hastings was the only town centre that saw an increase in empty shops from last September compared to March (going from nine to 10 empty shops).

Shops in Hastings CBD. Photo / Warren Buckland

Napier improved its occupancy rate during that time (going from 18 to 17 empty shops) while Taradale and Havelock North remained stable with three empty shops each.

Overall, that meant there were the same number of empty shops in the four town centres in March of this year compared to last September (33 empty shops).

It comes as Hastings District Council has almost completed its multimillion-dollar redevelopment of the sprawling Municipal Building on Heretaunga St East near Hastings CBD.

Five tenants have already been found to fill the shops on the ground floor of that building when it opens including a new eatery, gallery, wine bar, i-SITE and delicatessen.

Meanwhile, data taken from Napier CBD sensors has shown that pedestrian foot traffic is picking up again following a slow February and March, which will come as good news for shop owners.

Infometrics principal economist and director Brad Olsen also picked out Hawke's Bay as one of the stronger regional economies during the first quarter of 2022, following a challenging period to begin this year across the country.

"Fractured supply chains, accelerating inflation, higher interest rates and high levels of absenteeism from Omicron combined to throttle back the economic engine," he said.

The report stated "underlying economic growth" had been strongest in Hawke's Bay, Gisborne and Tasman for that period.

Cruise ships are also set to return to Napier from October, which will provide a boost to businesses.