Bira CEO Andrew Goodacre appeared on BBC’s The One Show this week discussing how rent-free landlord schemes could help save the British high street.
In the segment, aired on the BBC programme on Tuesday 1 August, presenter Ashley John-Baptise reported from Poole town centre, which is currently benefiting from a high street revival initiative set up by Legal and General. The financial services group owns several retail units in Kingland Crescent and has been offering free rent to 10 independent businesses for their first two years’ trading.
Several business owners who were interviewed for the report explained how it had helped them set up and thrive in a challenging economic climate. Meanwhile, shoppers also described how the new shops had created a more vibrant retail destination.
Andrew Goodacre appeared in the segment, commenting: “What we’ve seen is a ‘cost of doing business crisis’ as much as a ‘cost of living crisis.’ Rent-free schemes are certainly an alternative way of saving the high street. I really think this type of scheme is a long-term solution for shop owners – especially new shop owners. This scheme takes away some of the risk in the first couple of years; once they get past that, those businesses will be established and part of the high street for a good few years after.”
Retailers currently trading in Poole’s Kingland Crescent include Boiler Room Records, Titanium Flower and Dorset clothing brand Brakeburn.