Colliers International has identified a downward spiral on local high streets as the spread of empty shops causes falling rents, resulting in 'terminal towns' struggling to find public or private finance to spur future growth. Is Brighton & Hove one of them?
Just 3% of high streets have been designated as 'improving' (including Barnsley, Ealing and Maidenhead), leading to a suggestion that the number of thriving towns is unlikely to grow quickly.
The situation has become steadily worse over the last year with retailers migrating to the best performing areas within affluent towns and shopping centres, leading to poorer high streets being dominated by pound stores and fast-food chains.
However, Brighton is identified as a thriving city and of course, with Olympic fever heightening, London has shot to the top of the retail league with retailers actively seeking to tap into the booming market in the West End.
This has widened the disparity between London and the rest of the country, however, as there has even been strong growth in formerly rundown areas such as Spitalfields and Shoreditch in the lead up to the 2012 Games.
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