Can the ‘Empty Shop Bill’ bring meaningful change to the UK high street?
26th May 2022 Or does it only target the tip of the iceberg? Earlier this month (10 May), new legislation for empty retail spaces was announced in the Queen’s speech – a bill that gives local authorities the power to force commercial landlords to rent empty properties through compulsory rental auctions. Landlords will have a one-year timeframe to fill the premises through traditional means before they go to auction. The proposal comes as part of the Levelling Up and Regeneration Bill: a wider plan to rejuvenate the UK’s high streets. The idea is that a successful bidder, whether a business or community group, will take over the premises, ridding the high street of a derelict property and giving smaller businesses the chance to expand. 14.1% of UK shops were reported vacant in the first quarter of 2022, increasing from 12.2% in March 2020. The issue of vacant and boarded-up shops does not appear to be going away, despite the easing of COVID restrictions, and many retailers and retail bodies are happy that the government has decided to step in. However, others are not so sure that compulsory auctions are an effective solution, and have suggested that the government’s proposal oversimplifies the root of...
