Propertymark is encouraging political parties to commit to bringing new life to many empty high streets throughout England and Wales ahead of the general election.
The professional body is keen to see more clarity over how local councils auction empty shops, offices, restaurants, and community buildings and how they are brought back to use under the High Street Rental Auctions recently brought in by Levelling Up Secretary Michael Gove.
Currently, to use a building for a different purpose than it was originally planned, those buying or leasing a commercial property may need to request permission from a local council first.
Anyone can request planning permission, regardless of who owns the appropriate land or buildings. However, the legal owner of the site must be formally notified of the plans. Once a planning application is submitted, it normally takes eight weeks to decide, but it can also take considerably longer.
In 2019, roughly 172,000 commercial properties like shops and offices were vacant. In 2021, over 8 in 10 of vacant properties had been empty for more than two years, and over 1 in 5 had been empty for more than four years.
Michael Sears, NAEA Propertymark Commercial Advisory Panel Member:
“As the 2024 General Election unfolds, we would like to see more clarity over the system of auctioning commercial property acquired by local authorities. Any measures should not drive down investment in commercial stock. Currently, the planning process takes too long, and this thwarts economic regeneration when it should be doing the opposite.”
