Shops moving from one to another building in your town or city centre is always an interesting and important part of the story.
It can be for a range of reasons and I would love to hear examples from #property and #placemaking colleagues…
- Looking for a bigger space either to expand the existing offer or to add something extra or different;
- For a more central location, often having started somewhere with lower costs to test things out;
- They find a better deal on costs than in their existing unit.
We’ve also seen a range of moves where maybe there’s less of a drive from the owner…
- Where the landlord decides against extending a lease, maybe because they see another option (more rent, stronger covenant, use type / offer that better fits their plans going forward);
- If the building has issues…
- …or something changes about the street it’s on that impacts footfall / dwell-time and with that, viability;
- It’s the moment from the business perspective to downsize to a smaller unit.
Whatever the reasons, while they’re concentrating on recruiting new #highstreet occupiers from online or outside the town or city to take on empty units, your tackling vacancy-focused ‘place partnership’ can also benefit by keeping in close touch with existing businesses about their performance, plans and prospects.
Sometimes facilitating a move can save you losing a business altogether or from a positive perspective, put one of your rising stars on the road to greater success.
I’d be really interested to hear how you’ve influenced this kind of switch and it’s been a plus for your place…
