New ‘high street revival’ plans revealed to rescue UK retail

// New plans to transform over 200 retail units revealed as part of a “high street revival” scheme

// The report is considering the introduction of a High Street Buyout Fund to help communities buy empty high street properties

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New plans to transform over 200 UK retail properties have been revealed as part of a “high street revival” initiative led by a cross-sector coalition including landlords and retailers.

The policy paper Platform Places, published by think tank Radix, features proposals from contributors such as the British Property Federation, law firm Shoosmiths and members of the government’s High Street Taskforce.

The report is considering the introduction of a High Street Buyout Fund to help communities buy empty high street properties and build “long-term resilience in town centres”.

The coalition has also proposed a specific business rates relief for regulated, socially trading organisations, set at a minimum of 50% of their business rates bill, Property Week reported.

BPF policy director, Ion Fletcher said: “Thriving town centres are a carefully balanced ecosystem and it is vital the property owners, local authorities and communities are all engaged in a collaborative process to create a dynamic mix of uses that meet local need.”