The article effectively highlights the drawbacks of investing in assets where external factors are beyond your control.
To address this, a carrot and stick approach is needed. Local Authorities should focus on enhancing the customer experience surround the asset to offer a compelling alternative to online options. The planning system can then be used as the a stick restricting and curating supply through user classes and betting/f&b/alcohol licences.
While it's easier said than done, some locations, have successfully implemented this strategy through BIDs.
100% - We need a fundamental change, the "High Street" needs to be the focal point of these towns & Cities. A Mix of Boutique shops, Some Established brand names & great places to eat.. independent cafes / Coffee Shops and restaurants.
I also think that the local authorities can & should do more, especially with business rate relief (which in some cases is the same amount as the rent!) They should also have a consistent design model... inviting signage, cleaned regularly & ability to showcase their goods (if space allows) outside.
There probably also needs to be a better security presence around the high streets... make people feel safe & more people will come & spend money!
The article effectively highlights the drawbacks of investing in assets where external factors are beyond your control.
To address this, a carrot and stick approach is needed. Local Authorities should focus on enhancing the customer experience surround the asset to offer a compelling alternative to online options. The planning system can then be used as the a stick restricting and curating supply through user classes and betting/f&b/alcohol licences.
While it's easier said than done, some locations, have successfully implemented this strategy through BIDs.
100% - We need a fundamental change, the "High Street" needs to be the focal point of these towns & Cities. A Mix of Boutique shops, Some Established brand names & great places to eat.. independent cafes / Coffee Shops and restaurants.
I also think that the local authorities can & should do more, especially with business rate relief (which in some cases is the same amount as the rent!) They should also have a consistent design model... inviting signage, cleaned regularly & ability to showcase their goods (if space allows) outside.
There probably also needs to be a better security presence around the high streets... make people feel safe & more people will come & spend money!