KPMG’s report, Hope for the High Street, proposes a plan for tackling the decline of Britain’s town centres.
Britain’s town centres remain essential hubs for our communities, but the retail sector is smaller than it once was, typically surrounded by under-occupied buildings and a grim environment.
The average level of shop vacancies on our high streets is around 13 per cent, with vacancy levels as high as 28% in Newport, Stoke and Hartlepool. Fragmented property ownerships and a lack of joined-up thinking, among other factors, have hindered progress to date.
KPMG’s latest Hope for the High Street report proposes a new kind of partnership to tackle these problems. It could unblock the fragmented ownership obstacle in a designated area and enable physical change with a more flexible mix of uses, including affordable homes as a catalyst for wider regeneration.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.