by Andrew Mear Managing director of Eagerlux and San Pedro Properties:
The high street has seen massive change over the past 50 years. The development of out of town shopping centres was initially seen as its death knell, then the massive expansion of retail brands created homogenous high streets across the UK. Finally, the birth and expansion of the internet over the past 30 years has put independent traders, chain stores and department stores under even more pressure.
Figures suggest that around 75 per cent of the population now regularly shops online, so the way we shop − along with the types of goods we want to buy − has dramatically changed, making it imperative our high streets adapt to stay relevant.
Since the move to online shopping, major retailers with massive shopping areas have shown signs of a long slow death – and if they’ve failed to back up sales on the internet an inevitable downward spiral has happened.
The business model for the high street just doesn’t work if costs outstrip income, whereas the internet allows income to outstrip costs.
More than 150 years ago the idea of leisure was the preserve of the upper classes. Now it has become a ubiquitous part of daily life and it is my view that the leisure and service industry must become part of the solution.
People are social animals and enjoy sharing experiences together and with this simple concept we can start to design high streets that, in generations to come, people will want to visit.
For example, Skipton is a thriving town, but it isn’t immune to the changes in society.
As the “Gateway to the Dales”, with a castle and a canal, it offers a fantastic mix in a great location but this still isn’t enough and it too must continually adapt its offer.
Developing a leisure experience comprising hospitality and entertainment that encourages local people and tourists to visit, is essential. In addition there must be a drive to encourage people to start living in our town centres again.
For a long time, property investors have rented out ground floor space to retailers whilst upper floors remained empty. More recently, as the value of rents has dropped and business rates legislation has changed, the need to regain lost revenues has presented the idea of redeveloping upper floors for residential use − especially now demand for office space has also become victim to the technological revolution.
There has been an under supply of residential property for many decades and developing vacant town centre spaces in new ways could help remedy some of this demand.
If this results in more people living in our historic retail districts there will also be more people wanting to access services in these areas.
A drive to attract people to live in our town centres would also dovetail neatly with the development of a leisure and nighttime economy. People now expect access to services way beyond the traditional 9-5.
Source: Yorkshire Post