In the wake of the Government’s Future High Streets Forum, does retail recovery lie with landlords or retail entrepreneurs?

The announcement last week from the Government’s Future High Streets Forum and the British Property Federation (BPF) proposing a curated, collective ownership scheme among retail landlords was an interesting development.

I’m not a fan of the Forum.

I think the members with vested interests in the property sector are far too dominant. As a result, most of their grand plans seem intended to benefit those I hold largely responsible for the tumbleweeds blowing through many a town centre: landlords.

The idea of curation does have merit. I’ve long advocated controls on tenant mix as being a key factor in reviving high streets. But I’d do it via an adjunct to planning rules, with specific usage principles written into local plans. Something that would maintain diversity and attenuate rental tone, even if a juicy offer were to be dangled in front of a perfidious speculator.

To me the term ‘collective’ conjures images of commune culture, imbued with philosophies such as mutuality, co-operation and sustainability.

Call me a cynical old hippy if you like, but somehow I suspect what the BPF actually has in mind is closer to a cartel.

I’m not planning on donning a string of beads or joining an ashram any time soon, but I can see the value in collectivism. I’ve recently been discussing some equally radical ideas with fellow high street advocate Dan Thompson, the man behind the 2012 Pop Up People project. We’re proposing a non-profit trust that would buy commercial property and rent it at sustainable levels, generating funds for local investment.

Our goal would be to break the cycle of snowballing rents that usually pushes out the same independent entrepreneurs who took on properties in struggling areas and revitalised them. It seems unfair that the people who improve the market usually don’t get to stick around to enjoy the fruits of their labours.

So if the Forum would like to explore that kind of truly collective approach, I’m open to a conversation. I’ll be sitting here in my kaftan waiting for their call.

  • Ian Middleton, managing director and co-founder, Argenteus