There is so much to consider when embarking on property investment to have a positive impact, considering the overall Place Branding Strategy and how much of the town's property should remain pure retail or be converted to office space to support the retailers.
As major stakeholders in their towns Local Authorities have come under increasing pressure to support their high streets and invest in property to halt the decline of our town centres. Who better to revitalise and inject a sense of community spirit and take the steps needed to reinvigorate failing high streets?
News that high streets are dying with shops lying empty and imminent collapse of major retailers would suggest that local authorities are unaware of what is happening in their towns. The reality is that many councils up and down country are already creatively leading on the revitalisation of their town centres, working closely with stakeholders.
As customers we now have the convenience to shop, bank and live our lives online and this will not change, therefore shopping centres, town centres and high streets are each facing their own pressures from the radical changes. In this post we're exploring the opportunities for traditional shopping centres, as in the past they easily attracted well-known retailers and are now struggling to retain businesses and keep the consumer interested; these centres cannot fail as they are the core of activity in many towns.
Place brands are often complex unlike your favourite fashion brand for example, people care so deeply about their place whether they live, work, play, move away and then hopefully one day come back again! A strong place brand should be simple and successfully convey the message of your place including its location, history, strengths, future growth aspirations and community expectations.