Pictured: Samantha Jones
The face of the UK's High Streets is changing and the manifold
impacts of the recession, changing shopping habits and the
dominance of the supermarket have impacted in a way that few could
have foreseen a decade or so ago says commercial property agency
Prop-Search.
The length and breadth of the UK countless High Streets and town
centres are the scene of unprecedented vacancy rates. However,
Wellingborough appears to be bucking this trend and forging ahead
with plans to rejuvenate its retail centre.
Wellingborough was granted a royal market charter in 1201 by
King John of England and is typical of many of the UK's market
towns. In more recent times, the town has been the scene of rapid
population growth and this is further predicted to grow by around
30 per cent over the next 25 years.
While this pace of growth offers the potential to make
Wellingborough a bustling retail centre, the number of shops in the
town centre has not grown to meet this demand. This, along with the
town's position, within 25 miles of Northampton, Kettering, Corby
and indeed Milton Keynes has resulted in many residents travelling
to these larger towns to shop, taking potential revenue away from
local businesses.
However, whilst recent figures from the British Retail
Consortium showed town centre vacancy rates in the UK at 11.2 per
cent. The East Midlands is performing much better at 9.9 per cent
with Wellingborough's forging ahead with vacancy rates as of May
2011, even lower at 9.5 per cent.
Samantha Jones, a Surveyor at Prop-Search and a Director of the
Wellingborough Town Centre Partnership: "There is plenty of room
for further optimism. For a market town Wellingborough is still
doing very well, with a strong base of independents, increasingly
high occupancy rates and larger retailers who recognise that the
town has a good retail base."
In recent months a number of new occupiers have opened in the
town - Lace Lingerie on Silver Street, Bangladeshi Mission UK and
The Loco Centre on Market Street and Captain Neil's Toy Chest on
High Street. Prop-Search is also able to report that the former
Disabled 2 Able premises, comprising 3,083 sq ft is under offer to
a national charity, and that 2a Market Street - next to McDonalds -
is also in the hands of solicitors.
Wellingborough retailers are also being given support to help
improve trading in the town centre. In June this year
Wellingborough successfully become a Business Improvement District
and its first environmental project has been to reduce trade waste
collection costs and work towards the town becoming a zero carbon
community.
Further information can be obtained from Prop-Search - Tel:
01933 223300 or by visiting its website: www.prop-search.com