{"id":22291,"date":"2018-12-10T11:57:01","date_gmt":"2018-12-10T11:57:01","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=22291"},"modified":"2023-10-10T11:28:48","modified_gmt":"2023-10-10T10:28:48","slug":"move-to-high-street-living-backed-by-property-industry-says-survey","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/news\/move-to-high-street-living-backed-by-property-industry-says-survey\/","title":{"rendered":"Move to high street living backed by property industry, says survey"},"content":{"rendered":"

The property scene is excited by the prospect of more high streets in the UK becoming places to live, according to a new survey.<\/strong><\/p>\n

Just a few weeks after the government announced that its Future High Streets Fund<\/a> would be armed with \u00a3675m to look at repurposing \u201cunder-used retail and commercial areas\u201d into residences, a majority of property professionals surveyed by MRI Software<\/a> are positive about the prospect.<\/p>\n

Empty shops ‘the biggest untapped resource’<\/h4>\n

Seventy-two per cent feel that turning shops into homes will give the British high street a new lease of life. With around 50,000 shops lying unused in towns and cities around the country, 66% of those surveyed see them as \u201cthe biggest untapped resource for new residential development in the UK.\u201d<\/p>\n

While news of big high street names like Debenhams and House of Fraser announcing closures in larger properties hits the headlines on a regular basis, many towns and cities see smaller shops closing to leave empty properties blighting the landscape.<\/p>\n

But there now seems to be momentum behind a desire to make use of both these empty shops, or the rooms above shops still in use, as a way of getting more stock onto the market in face of a housing shortage.<\/a><\/p>\n

City centres like Birmingham<\/a>, Liverpool<\/a> and Manchester<\/a> are already being transformed by large numbers of residences in either new or repurposed buildings. Proximity to shops, bars, restaurants and gyms is fuelling a need for city centre living among millennials, and that\u2019s something that could filter down to regenerate town centres despite their smaller populations.<\/p>\n

“The research shows we will see a far greater number of people living in town centres, which will give a boost to retailers on the High Street while feeding other businesses such as gyms and entertainment venues,\u201d said Dermot Briody, Executive Managing Director, Europe at MRI Software.<\/p><\/blockquote>\n

Majority unfazed by Brexit<\/h4>\n

The survey also shows that the industry sees a great opportunity with the revamp of the high street in the short term despite an uncertain economic outlook. It reveals that 82% of responders see the next 12 to 18 months as a lucrative period of redevelopment of mixed-use properties.<\/p>\n

Those surveyed are also confident that Brexit will not adversely the prospect, with only 24% believing that it will hamper the UK property industry\u2019s ability to secure funding for property redevelopment.<\/p>\n

“The vast majority of industry players we surveyed were bullish on the outlook for the sector,” Briody added. “Even where Brexit is concerned, the positive outweighed the negative, as two-thirds maintain that even a Hard Brexit won\u2019t hurt their ability to get funding for property development.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The property scene is excited by the prospect of more high streets in the UK becoming places to live, according to a new survey. Just a few weeks after the government announced that its Future High Streets Fund would be armed with \u00a3675m to look at repurposing \u201cunder-used retail and commercial areas\u201d into residences, a… Read more »<\/a><\/p>\n","protected":false},"author":3875,"featured_media":22290,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[179,6],"tags":[255,341],"class_list":["post-22291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-expert-advice","category-uk-housing-market","tag-city-centre","tag-newsletter"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/22291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/3875"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=22291"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/22291\/revisions"}],"predecessor-version":[{"id":6097472,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/22291\/revisions\/6097472"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/22290"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=22291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=22291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=22291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}