Here at Boxpod, commercial units are our thing. And a great number of them are located in town centres and the high street. The high street – or the main road or roads, where retail units and many other commercial units such as restaurants, cafes, and offices are located, plays an important role in a town or city’s identity, helping to attract other businesses, new residents, and, of course, having a big impact on the quality of life of those that live there.
For many years, many towns have seen their high streets becoming more and more neglected and underinvested in. This is similar for local high streets in certain areas of cities – whilst huge investment might be going into large shopping centres or shopping hubs, more local ‘high streets’ have been increasingly neglected. This underinvestment, along with the increase of online shopping has caused a number of local issues.
These issues include a high street that is less and less useful to the local community, a rise in commercial units such as betting shops and vape retailers, and boarded up shops from businesses that are struggling because, frankly, some high streets are not an appealing place to go. It can also mean fewer places for the community to meet and get together, which is not conducive to community coherence and a higher standard of living.
The government has recently launched its’s Pride in Place project. The strategy behind the programme aims to reverse this demise of struggling high streets by giving local communities money to invest in their town centres, building a vibrant, attractive, varied high street with a variety of commercial units including independent shops, eateries, or libraries. With a more attractive town centre, a place can become a more attractive place to live and work.
Changing the High Street
The way that the money being made available is spent will be defined by local Pride in Place boards. It is hoped that the initiative can be used to change the high streets with a variety of options open for discussion. Some of these include:
- Creating more availability of retail units – making retail units for rent more accessible for small and independent businesses, potentially opening derelict or long boarded-up commercial units for refurbishment and consequently use by local businesses through a community right to buy scheme.
- Safeguarding local spaces – looking at helping to protect local community spaces such as pubs, libraries, venues, or town halls, that are used to bring the community together and improve quality of life for local residents.
- Crafting a prosperous high street – trying to balance the high street to ensure that it is prosperous and attractive – by controlling the number of betting shops, for example.
What Does This Mean for the High Street?
The project ca be a good opportunity for local businesses and landlords to help to bring our struggling high street commercial units back to life, building a vibrant and thriving community, and boosting the economy of the local area, which is, of course, good news for everyone.
A rejuvenated high street is not only good for retail businesses based in retail units, however, it can also lead to a necessity for other commercial units such as cafes, restaurants, leisure activities, and pubs, all helping to create a pleasant shopping experience as well as making it somewhere that people want to spend their time – and, potentially, even make it a destination from people outside the immediate area.
It is important to remember, however, that a Pride in Place grant will not automatically transform a town’s high street area. There are several other factors that also need to be considered – most of all, the work of the board that will decide how the money is to be spent. It is essential that these boards look at what a town needs, what it can offer, and the best way to do it. This can be very location specific. For example, a small town in the countryside will have different necessities to a local high street in a large city.
Another consideration is transport – it is important to ensure that the local transport that is available caters for the commercial area, parking options ae adequate, and that it meets the wants and needs of the demographics of the area.
It should also be remembered that these projects can take a while to come into fruition. Not only does it take time to make the plans and decisions, but also to put them into action and eventually to see the results.
Final Thoughts
A thriving high street or town’s commercial centre is essential for a growing economy, a vibrant community hub, a useful local area, a cohesive society, a high quality of life, and ultimately a happier area.
And this is why the government are hoping that the Pride in Place strategy will be successful. And the commercial units are one of the key players in the plan. By ensuring the right commercial units are available to rent, the best businesses can occupy them and start to build up the best commerce for the local area.
Here at Boxpod, we have a range of commercial units for rent across the country. So, whether you are in a large city, a small town, or somewhere in between, we can help to match a commercial unit with its next tenant.
If you are a landlord looking to rent your commercial unit, take a look at how we can list your property to help you find your perfect tenant. If you are a business looking to rent a commercial unit to call home, why not take a look at the properties that we have available?
From offices to warehouses, workshops, retail units, and storage spaces to rent, visit our website today!