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.