Hope for the high street – tackling high street decline

Hope for the high street – tackling high street decline

KPMG’s report, Hope for the High Street, proposes a plan for tackling the decline of Britain’s town centres.

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Chairman Real Estate Advisory

KPMG in the UK

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Hope for the high street – tackling high street decline

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.

Key Highlights:

  • KPMG’s 10-point proposal for the new partnership vehicle
  • The key benefits of the new partnership model, plus details of how the delivery of the projects should be managed and trialled
  • A Q&A on the key issues and challenges to be addressed in developing the idea further
  • Details of the next steps required for the principal stakeholders

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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