A restored Victorian shopping arcade in Dewsbury, West Yorkshire, has become an unusual experiment in reviving Britain's struggling high street. Rather than being owned by a conventional commercial landlord, The Arcade reopened after a decade last month under community management, partly backed by locals who have invested in its future. Inside the building, which dates back to the town's 19th-century textile boom, shoppers can browse handbags, buy Pokémon cards or attend events. Upstairs, there are spaces for artists, local businesses and community groups.
The project, which bills itself as the UK's first community-run shopping centre, is among a growing number of local initiatives seeking to reinvent town centres as Andy Burnham's government promises to tackle the rise of boarded-up shops. Jenny Holden-Stokes, manager of The Arcade, said the departure of familiar retail chains, including Marks and Spencer, which closed in 2007, had created an opportunity for small businesses. "Most of them [are] new starters or they've worked from home, and now they've got the opportunity to have a low-rent place in a beautiful building where they can flourish," she said.
Community businesses are typically owned and controlled by local residents who collectively make decisions and share in the benefit. There are doubts, however, about how effective they can be given the pressures facing high streets. Julian Hindmarsh, a partner at law firm Howard Kennedy, said such initiatives "can play a key role in bringing vacant properties back into use", but their success often depends on long-term funding and access to suitable premises.
Last month Burnham announced a £210mn package to bring derelict high street buildings back into use. The Arcade was restored through National Lottery funding, central and local government grants and community investment, and it is deliberately turning down vape and betting shops and nail bars. About 80 per cent of the 16 affordable small units were occupied or committed when the FT visited, and more than 5,000 people visited on opening day in September.
Source: Financial Times Companies · Summarized by HeadlinesBriefing