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New business ventures would boost high streets, says analyst

13 December
11:35 2011

Councils, landlords and local business need to work together to make Mary Portas’ review of the high street become a reality, according to Keith Richardson, retail relationship director for Lloyds Corporate Markets.

Portas published her review this morning and the government plans to come back with its response by next spring.

“Overall, several positive points from this review,” said Richardson. “The focus on markets and supporting new business ventures would be a positive step forward. 

“Giving the high street more of a market feel and focusing on some ‘points of difference’ will differentiate them from the big ‘out of town’ offerings, which often benefit from easier parking, economies of scale and choice.

“The recent examples of the German Christmas fairs may be a good starting point; these have attracted record numbers and are generally based around high street locations,” he said.

“There is clearly a need for a co-coordinated effort and it is good to see that this is being called for.  We need local authorities, landlords and local business to work together  to tackle issues like parking restrictions, low start-up rents and this needs to be encompassed within an agreed local plan.

“Hopefully the focus given to this issue by the Portas’ report will bring some of these parties closer together, in an effort to deliver some of these exciting ideas,” said Richardson.

Source: Lloyds Corporate Markets

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