Estate agents for Richardson, Barker Storey Matthews and Murray discuss state of the high streets in Stamford, Rutland, Bourne and the Deepings following coronavirus crisis
As the coronavirus pandemic forced shops to close for months earlier this year many people feared for the state of the high street.
But property experts say there is nothing to worry about as tenants are quickly snapping up the vacant units across the area.
In recent months Richardson estate agents helped to sell and rent out a number of shop buildings in Stamford, which has allowed a number of new independent retailers to open.
Andrew Leech, registered valuer for and on behalf of Richardson, said: “The high street is changing.
“The national operators are gearing up for online which presents the opportunity for more independents to come in which is what Stamford thrives on.”
Richardson is currently letting Spagó in Cheyne Lane Stamford and a small unit in Abbey Road Bourne, as well as number 6 in St Mary’s Street which has recently undergone a refurbishment.
Julian Welch, head of retail agency Eddisons incorporating Barker Storey Matthews, agreed that ‘high streets across the country have seen a number of national retailers disappear as the mainstream’.
He said: “At the same time, independent retailers are taking up positions on the high street, boosted by government initiatives such as small business rates relief and the zero rate for all retailers until April next year.
“We may well see the latter scheme extended, depending on the wider economic scene.
“To this end, market towns and locations such as Stamford, Market Deeping and Bourne are no different in following the drift of prevailing retail trends.”
Barker Storey Matthews has two properties on the market - the former post office in West Street and the previous Evie’s Nails in North Street - which have generated lots of interested.
The North Street property has recently gone under offer to an established Bourne business after a lot of enquiries and the premises in West Street is generating interest.
Julian said: “Stamford is always a popular location and there are very few retail units on the market available for occupation.
“Currently, there are no availability of vacant units in Market Deeping.”
Grant Murray, partner at Murray estate agents, is confident that the high streets in the area will ‘stand the test of time’.
He said: “Oakham and Uppingham high streets are looking pretty good.
“Since we’ve come back to work after the first lockdown the commercial retail properties have all been let so there’s quite a good surge and demand.
“I think it’s people that had lost jobs in lockdown or that had been made redundant and wanted to be a shop keeper.”
However, Grant is uncertain exactly what the future will hold for the high street as ‘we are still in the midst’ of the pandemic.
He said: “I think the independent retailers are improving because people got a lot more used to coming out onto the high street again.
“But laterally over the last week or so I’ve noticed a downfall.
“There’s been bad press with the virus when it starts getting back into newspapers and with regional lockdowns it knocks people’s confidence.”
In Stamford there is one building which has remained vacant.
The former Carphone Warehouse shop, located next to Costa on the High Street, has had no occupant for more than a year.
Justin Fowler, partner at Culshaw Partnership, said: “Although we did have interest for a temporary let it was stalled and thwarted by coronavirus
“For a long time the High Street, up until coronavirus was absolutely thriving.
“Generally that end of the High Street struggled to go.
“For a lot of retailers the space is just too small.”
The Culshaw Partnership is also in the process of letting the former Martin’s shop which closed last month.
Justin said: “We’ve had a little bit of interest and we are waiting the client’s instruction but we are not in the position to instruct lawyers.”
Speaking about the high streets across the area, Justin has noticed a difference in recent months.
He said: “Inevitably it’s [coronavirus] massively impacted - it’s impossible for it not to have really.
Justin added: “One of the circumstances which makes it hard at the moment is there’s a rates holiday for the retail and hospitality sector and I don’t believe there has been any indication of what will happen after April
2021.
“Anyone looking at taking on a shop now immediately benefits from a rates holiday.
“They don’t know what will happen after April. It’s hard to make a business plan and financial commitments.”
