The future of our high streets
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06 December 2024
The House of Lords Built Environment Committee, chaired by Lord Moylan, has recently published its report, High Streets: Life beyond retail?, following an inquiry on High Streets in towns and small cities that began in February 2024.
The Committee looked at a range of challenges and opportunities, and what the future might look like. While retail will always remain a core part of the high street, local communities are now looking for more restaurants, leisure activities and public services in town centres. The inquiry also looked at accessibility and parking, Business Improvement Districts, and business rates reform.
The report echoes several RICS recommendations, as well as directly referencing evidence submitted earlier this year. This included evidence on the importance of accessibility to boost the competitiveness of the high street, the benefits of green space, and the challenge of business rates reform.
The report also backed the new High Street Rental Auction (HSRA) powers, which came into force on 2 December after secondary legislation was laid last month. The committee recommended that the Government should support local authorities to make use of the HSRA powers and confirm if it will follow the pilot approach outlined by the former Government.
High Street Rental Auctions – new powers come into force
The HSRA powers were introduced in the Levelling Up and Regeneration Act 2023. In practice, it means that there is now a mechanism for local authorities to auction vacant premises in designated high streets or town centres in some circumstances.
The Government hosted a technical consultation on HSRAs, which RICS responded to in 2023.
An HSRA showcase was held in Wolverhampton last month, with Local Growth and Building Safety Minister Alex Norris spoke to attendees about the new powers. Revitalising high streets across the country remains a key government commitment.
RICS UK&I Commercial Property Conference
RICS will host its UK&I Commercial Property Conference on Tuesday 10 December at the Cavendish Conference Centre in London. There will be an opportunity during the conference for attendees to hear an update on HSRAs from a representative from the Ministry of Housing, Communities and Local Government, and ask questions on what the changes mean in practice.
The annual conference is an opportunity for industry leaders to share cutting edge insights across a range of urgent challenges, themes and trends including sustainability. Retrofitting, digital innovation, creative spaces, and wider discussions unique to the event.
Further details about the conference are available here.
