For several years, there has been a very evident and well publicised demise of local high streets as they struggle to compete with the ease and efficiency of online shopping. This has led to what is commonly termed the ‘death of the high street’. According to research from the Local Data Company and PWC, 11,120 chain store outlets shut between January and August this year. This is a worrying figure, not only for the retail sector but also the wider economy.
Despite this alarming statistic, I would argue that rather than dying, high streets are transitioning and Real Estate has an integral role in bringing them back to life. To demonstrate how this is and will continue to be done, let’s look at three key ways the property sector is adapting in order to repurpose the high street and bring footfall back to high streets…….