Telford's high streets to get £4.8 million boost
Nearly £5 million will be spent on improving Telford borough's high streets over the next two years, with ambitions to develop local loyalty "beyond Covid" as well as a burgeoning night life.
The package of funding, to be spent across Telford and Wrekin, will include plans for "high-quality property renovation" on high streets, and even for the borough council to buy properties and renovate them for sale or rent.
The profits from any sales or rents will go back into a ‘revolving investment fund’ for 'on-going high street investment'.
The money is being allocated in the third phase of Telford & Wrekin Council's 'Pride in Our High Streets' programme, with £4.8m invested over the next two years, and an initial funding package of £2.5m for this financial year.
According to a paper outlining the strategy, one of the key aims of the third phase is also to develop the night time economy in the high streets across the borough.
The report says it will focus on an "ambitious programme" which will create "a vibrant and mixed night time economy which has been shown to help shape small towns".
The plans are to help support development that allows high streets to offer "something for everyone, from shopping to work, catching up or celebrating", and to generate a loyalty to local businesses that extends beyond the Covid crisis.
The council's cabinet will discuss the report on Thursday, which includes an update of the first two phases that it says have helped create more than 100 jobs.
It states: "Since its launch 30 high street businesses have been supported to open up taking on empty properties across all six of our borough towns, leveraging more than £1.32m of private sector investment and creating more than 100 new jobs with more projected as these businesses diversify and grow and in their local supply chain."
The report highlights the need for the support, outlining the problems faced by the high streets – even before the Covid impact is considered.
It says: "Despite this success our high streets face continued challenges. These include long term empty units/high levels of occupant turnover and a shrinking retail offer driven by the rise in on-line shopping; absentee landlords; mixed quality redevelopment and conversions into living space; and, in some instances, problems of anti-social behaviour.
"Pride In Our High Streets 2021-2023 recognises these continuing problems and sets high street regeneration in a new context reflecting the on-going impact of Covid and the continued growth of on-line shopping which poses both challenges and also new opportunities."
