Examples like Altrincham, Stockton and, in this article, Chorlton, illustrate a number of emerging truths:
• The High Street isn’t dead
• There’s appetite for localism
• There’s life after multiples
• It takes time to adjust
• There needs to be buy-in from the community, the council lenders and landlords for this to work
In the surveying world, can Valuers help? Is it still appropriate to apply prime yields to shaky multiple retailers that seem able to launch a CVA at any moment? Is it time to revisit valuations of local covenants and better reflect their commitment and knowledge of the markets in which they trade? Food for thought on a big question for High Streets up and down the country.
“It is a really good example of somewhere that has shops that caters for the people that live in the area. There are pockets of cool, independent shops and then those that cater for specific communities like BAME and vegan people. There is something for everyone”