How do we breathe new life into our shopping centres?

Author
Ian Mean
Director of Business West Gloucestershire | Vice Chair of GfirstLEP | Business West
11th August 2021

Well, some 20 years ago, Stroud benefitted from the LOTS Scheme (Living above the shop), which at the time was spearheaded by Stroud District Council and housing associations.

This innovative scheme encouraged owners of shops in the town to restore the upper floors for residential use.

I had not heard of the scheme but was told about it by Andrew Watton, of Hawkins Watton, who has over 50 years’ experience as a surveyor, auctioneer and estate agent in Stroud and the North Cotswolds.

And Andrew has now written to Stroud MP, Siobhan Baillie, about the scheme- how it has worked in the town and could be replicated throughout the UK.

I have recently encouraged the leader of Gloucester City Council, Richard Cook, to see if we can organise a meeting of commercial property agents to discuss a scheme like LOTS.

In his letter to Siobhan Baillie, Andrew Watton says:

“Stroud currently has only twelve vacant shops in the town centre and there are new traders coming forth week by week.

“With this in mind, if you would like to use Stroud as an example of a successful centre to your parliamentary colleagues I am sure Stroud District Council, Stroud Town Council, Stroud Chamber of Trade and Dransfield Developments plus others would provide a very warm welcome to delegations from other parts of the UK”.

Stroud really has made great strides to bring back life to the town centre with Yorkshire developer Mark Dransfield leading the way with the Five Valleys Shopping Centre.

Mark rang me  to say how much he supports the Living Above the Shops idea.

“Living above the shops has many positive effects-generating an income stream, creating natural surveillance for the town centre and driving footfall. It goes without saying that these initiatives also add value to the overall property”, he  said.

“In Stroud, we have latterly moved 20% of our living above the shops accommodation into AirBnB rentals. If managed correctly, this adds further additional and regular footfall from visitors outside the town who will shop and dine while adding vibrancy to the town.”

Gloucestershire MPs please note. Well done Andrew and Mark.

*Ian Mean is a board member of GFirstLEP

 

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