Retail to Resi
A lot of interest recently has been placed around the governments’ recent option to turn empty retail space to residential schemes in an attempt to achieve our housing demands. Whilst some schemes and areas will benefit from this, surely this is just another nail in the coffin for the already dying high street.
Perhaps offering subsidies for start-up retailers would be a better use to revive the failing retail stock? Councils should perhaps embrace free car parks to entice people to local shops than the larger out of town developments that keep being created. Landlords offered incentives for empty retail space for small offices and rates reduction to the incoming tenants to get the areas occupied.
If high streets have people then they need shops to provide for their needs and in time the cycle may return. Shops in today’s world are different to those many years ago when high streets were built, but in today’s modern world where we don’t manufacturer as much as we used to and entrepreneurial spirit is still key to our countries existence, converting swathes of our high streets to more uninspiring housing stock is surely not the right answer.
Perhaps landlords achieving a realistic rent for a derelict retail space and local governments aiding small businesses and start-ups by lowering rate expectation for derelict space could be a cheaper and more cost effective solution to the ailing high street. Logic PM specialise in demonstrating how space can be used to its maximum potential. If you have an empty space and need some inspiration for how it can best be used, whether as retail, residential, office or other - give us a call on 01622 535505.