Derelict high streets could provide space for 500,000 homes
A new report has encouraged the federal government to show the challenges from the pandemic into an opportunity to revive Britain’s high streets, communities and commercial centres.
The Centre for Policy Studies says that even before the pandemic, as much as 40 per cent of retail space wasn't any longer viable or needed. Yet councils are doing little to ensure these vacant properties are being converted or redesignated, that is limiting opportunities for investment and the renewal of Britain’s high streets.
The Reshaping Spaces report shows that if this retail space might be repurposed, it might create at least 500,000 homes, or more if the space were changed into flats. Additionally, it shows how allowing for mixed use regeneration could unleash tens of billions in private finance to ‘build back better’ and level up left-behind high streets and commercial spaces over the UK.
As the new report highlights, areas using the highest commercial vacancy rates are the same places that the Conservatives acquired most seats in the 2021 General Election, demonstrating the urgent have to drive purchase of those areas if the government really wants to show the practical advantages of its levelling up agenda.
The think tank is proposing the first part of each council’s new local plan ought to be an industrial assessment of the area’s needs, to be completed by no more 2022.
On the problem of business rates, the CPS states that the government’s business rates retention scheme also creates an ill-advised incentive for councils to help keep properties vacant. Since it includes commercial properties even if they are empty, a council which lets a property become a brand new home loses out when compared with one which looks after a derelict eyesore on the high street.
Alex Morton, who wrote the report, said: “There's a real chance to boost the amounts of homes and encourage mixed use regeneration as part of the current planning reforms. Councils need to take a lead and use partners to determine how their local commercial centres will look and make plans that can help Britain build back better. Rich in streets seen as an clear priority among local people, and vacancy rates highest in areas that swung in the 2021 election towards the Conservatives, it is really an area where the Government should prioritise sensible policy changes to aid redevelopment.”
Luke Hall, Minister of State for Regional Growth and Local Government, said: “The role from the high street has always evolved which year it’s much more essential that we interact to aid change and make sure that they're the beating heart of the neighborhood. This can be achieved rich in quality housing and leisure along with shops and restaurants, all of which is placed out in the High Streets Strategy that was published a week ago. This report shows how councils can repurpose retail space to assist their town centres become more attractive places to live, work and visit.”
