High street guru Mary Portas has come up with another plan to reduce town centre vacancy rates and increase footfall. The latest review of the Portas Pilots scheme reveals that a consultation will take place over the next six months to examine the benefits of turning abandoned retail units into residential accommodation.
While changes have already been made to planning law, allowing developers to build up to two flats above retail premises without planning permission, further relaxations will be required to see this plan come to fruition. At present, it is thought that the changes will allow for conversion of empty retail properties which lie on minor thoroughfares as opposed to on the high street itself.
Of course, this plan has both its positives and negatives, which will need to be addressed by the government. On the upside, a greater availability of residential space on high streets will naturally increase footfall for local traders, especially smaller stores selling everyday essentials such as milk and newspapers.
Furthermore, the drop in vacancy rates will not only make the high street more appealing thanks to the lower number of boarded-up shop fronts, but will also allow landlords to feel a little more secure about property investments. This, in turn, will hopefully cause a boom in high street property.
However, with this boom will come a rise in rents which could spell trouble for smaller retailers. Additionally, those who tend to stick to smaller side streets in a bid to keep costs down could find themselves running low on choice if the majority of prime units are converted into residential space.
A Department for Communities and Local Government (DCLG) spokeswoman confirmed that the government is carefully examining the pros and cons of the scheme, but will continue to focus on making the most of flats found above high street shops in the meantime.
Local growth minister, Mark Prisk, believes the government has taken many positive steps in assisting a return to prosperity on the high street.
He says; “Today’s report sets out the wide range of measures we’ve taken to help communities breathe new life into their town centres.
“Since coming into government, we’ve lifted planning restrictions to bring empty properties back into use, cut business rates for thousands of small businesses and scrapped the unfair rules around parking charges.”
With 10 of the 12 towns in receipt of taxpayer investment under the Portas scheme having reported an increase in high street vacancies, Ms Portas will surely be hoping that her latest idea will deliver greater benefits than her previous efforts. Should the government pass this new legislation, it will be interesting to see the effect further relaxations on planning permission will have upon the nation’s high streets.
Do you think high streets are the right location for residential accommodation, or would creating more office space be a better use for empty retail units?
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