Bournemouth is witnessing a revitalisation of its high street, with 35 new shops opening in the last 18 months. This surge is largely attributed to the Bournemouth, Christchurch and Poole (BCP) Council’s proactive measures targeting empty commercial properties. The council has the authority to conduct high street rental auctions, allowing independent traders to bid for tenancies on long-vacant shops, which has already filled 20% of these spaces.
The council’s approach involves working with landlords of properties that have been empty for over a year. If negotiations fail, the council can facilitate auctions, enabling local businesses to secure leases at slightly below market rates. This initiative not only supports new ventures but also helps to combat the high vacancy rates that have plagued the area following the closure of major department stores.
However, challenges remain. Long-standing businesses highlight that high business rates continue to burden them, making it difficult to compete with out-of-town retailers and online operations. The government is aware of these issues and has proposed a reduction in business rates for many retail properties, funded by increased rates on the most expensive commercial properties.
As Bournemouth’s high street evolves, the combination of council initiatives and potential government reforms could reshape the landscape for local businesses, fostering a more vibrant community and encouraging entrepreneurial spirit in the town.
Source: BBC News
