Dear developers, no one actually wants all these retail units
Big retail complexes may appeal to developers and planners’ fantasies about what towns could be. But they need to focus on actual demand, writes John Andrews in today’s Notebook
A message for developers
My commute to and from work starts and ends at Twickenham station, which experienced a redevelopment that was completed in 2020. As is common, retail units were added on the ground floor leading into the station concourse. The largest and most prominent unit remains empty. It’s a depressing sight. This prompted me to wonder why – at a time when demand for shop space in the traditional high street is diminishing – developers continue to build developments incorporating retail units for which there is no apparent demand.
I canvassed some views on Linkedin. The responses I received varied from the obvious – Brexit, high rents, business rates, competition from online retailers – to the less so, such as the poor design of the retail units limiting their future use, or canny freeholders incorporating commercial premises under leasehold properties, creating difficulty for lessees wanting to exercise their rights to buy the freehold or manage it themselves.
Very often, in my experience, it is a condition of the redevelopment’s planning permission that retail units are included, representing an existential disconnect between what local authority planners would like their town to be, and what works in the real world.
To revitalise traditional high streets, existing empty retail space needs to be repurposed and reimagined to provide a mixture of workspace, leisure, accommodation and social space. The purpose of any proposed commercial space in new developments also needs to be carefully considered; perhaps more emphasis could be placed on providing health and education facilities. Of course, developers have their part to play in the process and need to be creative in the developments they propose, as well as receptive to change.
Don’t forget us in the City, Chancellor
I won’t pretend that I’m unique or original by worrying about whether Labour’s growth plans have legs. In my previous role at JMW, I led our corporate team; I can remember when Canada, alongside New York, was the place to do big deals. Now there is a nervous energy in the business community. I would like to see Labour’s front bench contain more individuals who have scaled their own private-sector businesses. With all the uncertainty of the present day, now is not the time for sound bites: we need a clear plan of action to raise morale, keep the huge talent pool on our shores, encourage more hiring and investment, and foster confidence in our business leaders, who take huge risks in the pursuit of success and growth. We will not see a return to prolific dealmaking in the City without the private sector feeling supported. Portions of the public sector have received generous pay rises; now the Chancellor needs to ensure that entrepreneurs are incentivised to grow their businesses here in the UK.
Rachel Rubbish and Michael O’Lairy
Ryanair boss Michael O’Leary has not minced his words following news of a planned third runway at Heathrow. While Mr O’Leary’s references to a dead-cat strategy and calling our Chancellor ‘Rachel Rubbish’ might be entertaining to some, I would like to hear Mr O’Leary’s view on how a third runway could open sooner than 2035. Scrapping air passenger duty (APD) is looking unlikely: perhaps Mr O’Leary and other airline bosses should come forward with a longer wish list.
Quote of the week
“People respect you more when you draw a line in the sand even if they don’t agree with you”
Steve Coogan to Andrew Marr
What I’ve been reading
Newbon, Bloody Hell by Gary Newbon
I was lucky to meet legendary journalist Gary Newbon at the Football Writers’ Association lunch last year, which JMW sponsored. Gary’s book contains a wonderful array of stories involving “Big Ron” (or Ron Atkinson, who I’ve also been lucky enough to meet!) along with the likes of Brian Clough, whose softer side Gary depicts when he explains Cloughie’s support during his health scares. This made me ponder the importance of relationships, both professionally and personally. Life can be so busy, which can often result in not giving important people the time they deserve. When times get tough, you discover who your friends really are. Stay close to them.
John Andrews is head of London at JMW Solicitors