UK High Streets have reached a ‘tipping point’, according to a recently published parliamentary inquiry report.
The shift to online sales (now accounting for 20% of all retail sales), the upward revaluation of business rates, previous planning policies, and local authority financing constraints are impacting retailers and high streets up and down the country, and across all sectors.
As concerns have intensified about the state of our high streets, the Government is slowly starting to take action. Urban regeneration is set to be a significant area of policy focus over the next few years, as the high street is rightly seen as a vital component of the UK’s economic and social fabric. In consequence, property investors should be seeing this as an emerging opportunity.