Revitalising the high streets

The retail sector is having a hard time of it at the moment, and our high streets are seeing an unprecedented number of shops closing.

In many towns, a walk down a once-thriving shopping street can be a rather depressing experience, but there are signs that hospitality in general, and our industry in particular, can play its part in regenerating some of these unused spaces.

House of Fraser was one of the best loved and respected names in British retailing, but it could not prevent itself from going in to administration in May last year. Despite being bought by controversial retail mogul Mike Ashley, numerous store closures have taken place across the UK and it was reported in July that the company is losing £1 million per week.

But for several of these formerly thriving outlets, new life and new uses are on the cards. The Wolverhampton branch is likely to be taken over by the local university and converted to student housing. And in Hull, the local council has just given planning consent for a redevelopment in to a mixed-use project consisting of office space, a coffee shop, food stalls and a 45-key luxury aparthotel.

The potential for more of this type of projects is huge – landlords have initially tried to find replacement retail tenants, often without success, and have broadened their horizons to consider more innovative new uses.

There will doubtless be more retail casualties to come, but there are golden opportunities to give these often beautiful and historic buildings a new lease of life.