Bleak outlook for West Midland high streets as one in five shops sit empty
Almost a fifth of high street shops across the West Midlands are sitting vacant with the decline due to online shopping and Covid-19, a study suggests.
Report authors Power to Change have said Britain's high streets are at "breaking point" as they called for a new fund to be set up to help people buy the empty sites.
The figure in the region is higher than the national average, with 16 per cent of shops on Britain's high streets currently sitting empty.
And data from the Local Data Company revealed persistent vacancies across the region, where one shop has been closed for more than three years, has increased.
It hit 5.8 per cent in the region this year – above the national average of 4.7 per cent – with the sight of vacant buildings becoming an eyesore for shoppers.
Power to Change has argued a £350 million High Street Buyout Fund should be set up to allow groups to purchase buildings on the high street.
It will help communities secure empty buildings and allow them to compete with private investors who "may not consider" the best interests of the area, the report says.
An analysis of West Bromwich found the town was experiencing "some of the highest vacancy rates in the country" in 2015, but now the town's figure is just 15.4 per cent, slightly below the national average – however persistent vacancy rates currently sit at twice the national average, at 9.7 per cent.
In Dudley, analysis found the number of empty shops has "decreased dramatically" since 2013 when almost a third of high street properties stood empty – compared with 17.7 per cent this year. But despite the positive news, the persistent vacancy rate is still above the regional and national averages, at 6.6 per cent.
And in Wolverhampton, almost a quarter of the city's shops are vacant which is eight points higher than the national average. Persistent vacancy rates are at 8.9 per cent, compared to a national average of 4.7 per cent.
Nick Plumb, Power to Change's high streets lead, said: "The evidence is clear, community ownership on the high street is essential to their survival and a High Street Buyout Fund will break down the barriers stopping local people getting a foothold on the high street property ladder. The nation’s high streets are at a perilous tipping point and if these much-loved community spaces are to survive, we need radical action now."
And YouGov polling for the group, which supports the growth of community businesses in England, revealed people are worried about the decline of the high street and how it will impact on the economy, with two thirds worried in the region.
Three quarters of people have seen an increase in the number of vacant shops and buildings on their high street, whilst a similar amount believe local people should have access to the vacant buildings.
Mark Robinson, property director and co-founder Ellandi and chairman of the High Streets Taskforce, said: "Vacant properties owned by absentee landlords are the scourge of community, holding back the transformation of our high streets. These proposals will give community groups the power and means to take back control to make change happen."
