Commercial Renovations: Breathing New Life Into Town Centres
Posted on: 02/09/2014
In the last ten to fifteen years a combination of economic financial pressures and our increasing dependency on the internet have hit our high streets significantly. In 2001 high street stores were responsible for approximately 50% of all retail sales. This year that figure is expected to drop below 40% and could be as low as 33% by the year 2018.
To help breathe new life into our town centres, David Cameron and Nick Clegg appointed Mary Portas to undertake a review of the state of Britain's high streets in May 2011. In her subsequent report titled ‘The Portas Review’, which was published in December of that year, she explained that the aim of the review was to “put heart back into the centre of our high streets” in a way that would make them “destinations for socialising, culture, health, well-being, creativity and learning.”
At the beginning of 2012, off the back of her review, it was announced that towns across England would be able to apply to become the first ‘Portas Pilot Areas’. A few months later the first twelve pilot towns were announced and shared a pot of £1 million; with a further fifteen towns announced two months down the line. Lowestoft was one of those fifteen.
As part of their winning bid, Lowestoft hoped to:
- Increase footfall through the town centre
- Launch a mentoring scheme between larger and smaller businesses
- Improve security and information for shoppers
- Introduce a new discount scheme