Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Councils are addressing the downturn in town centres

Over the course of the recent economic downturn, many commentators have pointed to factors such as inflexible landlords, upwards-only rent reviews and high business rates as all having an impact on high street vacancy rates.

I would suggest that most landlords have become more flexible over the past few years, dropping rents and offering shorter leases.

Additionally, many councils are supporting town centre businesses by putting services such as libraries and clinics back in the centre.

Landlord investors that target ‘secondary’ areas with high yields often speak to councils before they invest and, if they are not flexible on encouraging inward investment with favourable planning or council help, then they do not invest.

It seems some councils are addressing the downturn in town centres, recognising the important position they occupy in local areas.

At a national level, the Government does need to look at the practices of some retailers whose location and behaviours seem to be driven by tax efficiency.

High street occupants are having a difficult enough time competing with internet retailers without also having to battle a tax system that is failing them.

  • Geoffrey Harrington, Associate at property law firm, Thomas Eggar

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.