Evolving not…? Part 2

So here’s some #highstreet #property stories you may not be seeing in the headlines…?

  • National #retail brands finding it difficult to secure new stores because of limited options in target towns and city centres;
  • Commercial agents running a bidding process on properties because of the level of interest;
  • The competitive rush we’re seeing to snap up the units left behind by departing mid-sized chains;
  • Landlords building new small units to meet demand;
  • Independent #hospitality business owners scoping towns to expand into, based on the success of their first or second.

As ever none of this is to deny that it’s challenging in our town and city centres. We’re still losing businesses that would stay if we were in a stronger situation, and we for sure need a range of policy adjustments from government.

But in their different ways these ‘audit, engage’ backstories suggest the vacancy picture is more complex than saying ‘shops’ are empty because no-one wants them.

And that’s before we get onto the units it’s assumed are vacant due to lack of interest, but are actually staying that way longer than needs be because of what we call ‘supply-side’ factors. The ones we could let if we find ways to overcome the barriers…

Maybe worth remembering when next you read or have shared on your timeline another gloomster ‘death of the high street’ narrative…?

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