Chancellor Philip Hammond has launched a £675m ‘Future High Street Fund’ alongside significant business rates relief for small retailers from April 2019.
In a Budget which Hammond said signalled the “start of the end of austerity”, the Chancellor announced the treasury would provide £675m of ‘co-funding’ over the next four years “to support councils to draw up formal plans for the transformation of their high streets”.
The chancellor said the fund would also “facilitate the redevelopment of underused retail and commercial areas into residential and office properties,” and added that the government would consult on whether changes to use classes and the compulsory purchase order regime could support this.
You must be logged in to continue
Register for free to finish this article
Due to the unprecedented challenge facing our industry at this time propertyweek.com will be entirely free to view to all users until 19 April. Register now to benefit from the following:
To access this article REGISTER NOW
Would you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.