A 10-point Plan For Revitalising The High Street

Peter Bowden, Partner at Knight Frank Newcastle, shares some thoughts on the UK high street.

The future of the high street has been more debated in the past 20 years than probably any other part of the UK commercial property world. Are the circumstances of the last 12 months the final nail in the coffin confirming “the death of the high street?”

The demise of Arcadia and Debenhams have fuelled the discussion in recent weeks, with the irony that ASOS has bought much of Sir Phillip Green’s former empire including TopShop and TopMan, whilst Boohoo has bought Debenhams and other remnants of Arcadia.

For many businesses, big and small, the impact of multiple lockdowns has been too much to contend with. How could they survive, with footfall down 90% year-on-year in Central London and the picture not much better in our big regional cities and towns?

Successive governments have had years to review one of the main causes of bricks and mortar retailers’ demise – our antiquated rating system – and the inequalities ingrained in real estate – so far without any meaningful reform.

In addition, the government has had years to update, speed up and simplify the planning system – with limited action so far and the latest initiative, `Planning for the Future’ having as many detractors as fans.

And while you would think the lockdown would be the time for a sweeping review of how our town centres function, we still await a meaningful strategy.

So, now let’s have the much-needed action.

Years of neglect, years of no response – and now the government has a once in lifetime opportunity.

The epidemic has fast-tracked what was already happening. We must now stimulate a call to arms to repurpose our high streets across the nation in wealthy suburbs and deprived communities alike, since the relative circumstances are the same and can be addressed in parallel. The opportunity is unique and certainly within our grasp.

A reinvigorated high street creates a revived community and sense of place. Well located, densely populated and generally with superb infrastructure, much of the building blocks are in place to ensure success.

A 10-point plan to revive our high streets:

1. Dedicated time, money and expertise. Billions are needed, not small handouts – it would be wise to heed that the property crash and banking crisis that could follow if our high streets are allowed to fall apart. That will cost a lot more in the longterm.

2. Create a series of blueprints across the country, for towns to learn from each other.

3. Level up the costs of occupation – to just make them fair; the rating system has long been outdated, while council tax must also be revisited – once again with fairness in mind.

4. Create a faster planning environment, supporting entrepreneurialism and innovation.

5. Identify, stress-test and set out the options for a range of uses to be promoted in our revitalised high streets. To make this real, introduce greater flexibility in the planning system and focus on the creation of more homes of all types.

6. Get this right and more people will move to town centres, more will use currently vacant or obsolete properties, more income will be introduced, more tax paid and more demand for high street uses will be stimulated.

7. Promote the benefits of living in town centres – for families and older people, not just younger people: inter-generational living is a great concept growing around the world.

8. Place a special emphasis upon the creation of truly affordable homes.

9. Ensure leisure, wellbeing, retail, food and beverage all have a place – confidence in these sectors must be restored after a year in hibernation.

10. Manage pedestrians, cyclists and vehicles – don’t just ban vehicles because lots of people like the elderly and families with small children need them to get around.

I am sure that, planned properly and executed efficiently, repurposing of our high streets will make a real difference. Now is the time.