Radical New Model Aimed to Revitalise Britain’s High Streets

Posted on 19 January, 2016 by admin

A new hard-hitting report has been proposed which introduces a radical new model that will inevitably help get investment back into Britain’s high streets.

Radical New Model Aimed to Revitalise Britain's High Streets

The Town Centre Investment Zones report was launched by a collection of property industry experts, Peter Brett Associates with Bond Dickinson and Citi Centric. It demonstrated how asset management could be the key to much-needed investment for local authorities and communities to transform their areas.

Two of the biggest areas that contributed to the high street’s inability to adapt to change, was poor asset management and fragmented ownership. To test the water, as pilot studies, the group used three town centres in order to show that by using the structuring approach to high street offerings, investment attraction and fundamental change will follow.

What was proposed was Town Centre Investment Management (TCIM), which involves pooling a critical mass of property assets into an investment vehicle and in turn, will allow assets to managed and curated, thus rejuvenating the high street.

Chairman of the Fragmented Ownership Group, Liz Peace, commented: “Many town centres are currently focused on an outmoded retail that needs substantial structural change. Resurrecting their fortunes will not be achieved simply by the superficial and largely cosmetic measures that have so far been applied. This new and more fundamental approach, using proper asset management techniques, offers us the best and maybe the only, hope of making lasting and beneficial change.”

With the new model, existing stock is able to adapt to the various challenges that face the high street, such as consumer demands and behaviour, as well as the changing retail landscape. Long-term it will help local authorities to significantly transform and future-proof their high streets, which will give a better consumer offering that may include housing and leisure space.

Investors are attracted to this TCIM model as it creates new opportunities like scale and growth potential. Retail is already seen as an attractive investment due to its long-term prospects.

John Parmiter, consultant at Peter Brett Associates, added: “This is a very significant step on a journey towards real structural change in our city and town centres. Since the launch of our Thought Leadership initiative we have been very encouraged by the support for the TCIM approach from the investors, local authorities and other stakeholders that we have engaged with.”




Leave a Reply


Recent Posts

creative shop shop displays

Increase foot traffic with creative shop displays

Could the video rental shop make a comeback

Could the video rental shop make a comeback?

Why Middlewich could be a good investment

Why Middlewich could be a good investment

Small business POS software guide

Small business POS system guide

Retail Shop layouts: The Options

Retail Shop layouts: The Options

Commercial property investment fund guide

Things to consider when looking to invest in commercial property

How old architecture is adapting to modern surroundings

How old architecture is adapting to modern surroundings

Are cinemas adapting after a decline in sales?

Are cinemas adapting after a decline in sales?

Birmingham office sold in £1.2million deal

Birmingham Office sold in £1.2million deal

Slough Retail Park £63m Sale

Slough Retail Park £63m Sale

UK retail assets sold by St Mowden

UK retail assets sold by St Mowden as retail market slows

Demand for retail space lowest in 9 years

Demand for retail space lowest in 9 years

UK local authorities spend 3.8bn on Commercial Property

UK Local Authorities spend 3.8bn on Commercial Property in the last 5 years.

Retail sector feeling positive in Northern Ireland

Retail sector feeling positive in Northern Ireland

Brexit silver lining for warehouse builder Tritax

Brexit silver lining for warehouse builder Tritax

Tycoon plans £1bn land grab with Network Rail bid

Tycoon plans £1bn landgrab with Network Rail bid