Cheltenham is better than most other areas in the country at filling shop units, according to a recent report.
The report, by Cheltenham Borough Council and Cheltenham Business Improvement District revealed the town’s vacancy rate is 10.1% compared to the national average of 13.8%.
CBC and Cheltenham BID released the report ahead of a formal action plan which aims to boost the town centre and its economy. This plan will include steps to convert unused or underused brownfield sites into homes and taking enforcement action against “unsightly” empty retail and business premises.
Cheltenham Borough Council wants the town centre to thrive
CBC councillor Max Wilkinson, cabinet minister for economic development, culture, tourism and wellbeing, says everyone wants Cheltenham’s town centre to thrive.
The action plan is focused on units in The Strand, Cambray Place, High Street, Montpellier, The Promenade and the Regent Arcade in a bid to reduce vacancies.
Cllr Wilkinson added that while the report says Cheltenham is doing well compared to many other areas in the UK, with lots of new shops opening, there’s always room for improvement. The town mustn’t, he said, become complacent.
Cheltenham is a popular place to visit
Cheltenham has a very healthy visitor economy, with 1.75 million visits and a visitor spend of almost £122 million in 2021, even though the UK was in the middle of the covid pandemic and starting to feel the effects of high inflation at the time.
A more residential town centre is better for the economy
Cllr Wilkinson also believes that a town centre with people living in it is more sustainable and will have more trade going on, as well as offering homes for local people and workers – a “triple win”, according to Cllr Wilkinson.
CBC and Cheltenham BID plan to work with landlords to transform streets with empty shops into new business premises as well as new homes in the town centre.
