Your town or city centre’s headline vacancy rate is almost exactly the national average – that’s quoted as 13.5%.
So what could you realistically set as a target looking ahead…?
It’s a very practical question I’ve been asked this week having been drafting ‘next steps’ for one of the locations we’re working with on tackling #highstreet vacancy.
Among the key features of the approach are:
- have a tackling vacancy-focused ‘place partnership’ on the case;
- “get the keys” and put together a combined council / private sector team to go inside priority empty units to work out how to get them back in use;
- explore opportunities to encourage businesses or organisations from our list of ‘alternative’ / additional use types to take on spaces;
- make sure your place – buildings, public realm, street furniture etc – all look the very best they can.
There’s more but those are some of the fundamental elements.
With those happening our answer to the question for places currently in the early / mid teens percents would be: “aim to get your headline vacancy rate into single figures within 18 months”.
Based on experience, I’d be confident you can. You should also be able to improve the mix of uses if your residents and existing businesses are getting concerned about how things are changing – maybe away from #retail and #hospitality – with vacants being let to things they’re not really welcoming.
So thinking about your town or city centre. Could you hit that target…? Are you going to…?
It’d be great to hear…
