Welcome to The Deal, June 2019
WHAT DOES THE FUTURE HOLD FOR OUR TOWN CENTRES?
Anyone who has visited Manchester recently cannot have failed to notice the number of cranes on the skyline confirming the amount of new development taking place in the city centre. Apartment blocks and offices are springing out of the ground on what would seem like every street corner, enhancing the vibrant feel of the city.
But what of the East Lancashire and North Manchester towns? Whilst the industrial property markets are clearly performing well and we see new building taking place on our Business Parks, the story in some of our town centres is not as positive. Retail is under pressure, initially from out-of-town competition and now from the internet. Increased technology and home-working is reducing the demand for traditional office space.
Nevertheless, some town centres continue to thrive. In Blackburn, Burnley and Bolton we have seen the development of university centres bringing in students. The Rock development in Bury, which includes a multi-screen cinema, restaurants and apartments, has successfully added to the town centre offer and encouraged people into the town. In Bolton the development of The Vaults, again with a cinema, restaurants and other leisure activities, is proving popular. Blackburn is following suit with new restaurants in the Cathedral Quarter soon to be joined by a new cinema, which is currently under construction. Town centres are increasingly being seen as a place of leisure, with town centre shopping a leisure activity. Smaller towns such as Clitheroe, Rawtenstall and Ramsbottom have also found their own niches. But what of the other smaller towns, which appear to be dominated by empty shop units and vacant offices? Can these find their own niches?
Peter Conroy
Director
Trevor Dawson
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