Council Holds Meeting on Empty Shops in Putney
Calls together landlords to discuss bringing units back into use
The Wahoo site has been vacant for nearly a decade. Picture: Google Streetview
July 10, 2023
Following mounting concern about the number of vacant shop units in the centre of Putney, a meeting has been held to discuss the issue.
The council has met with landlords of vacant shops on the High Street to discuss what more can be done to bring them back into use. Some units have remained for very prolonged periods most notably the ‘Wahoo’ site which has been empty since 2014.
The meeting was chaired by the council's Deputy Leader Kemi Akinola.
The council says landlords need to strike a balance between setting affordable rents and ensuring a reasonable return on their investment, but it has no power to intervene on rents which are a matter between landlord and tenant.
Landlords claim they are being flexible with rents and asked the council to make it easier for tenants to take up space more quickly through its planning and licencing powers. However,
The meeting, also attended by the Putney Business Improvement District organisation Positively Putney, discussed current national economic conditions, rental rates, and opportunities for redevelopment and improvement.
Positively Putney says that overinflated rents on the High Street are falling and landlords need to accept that new tenants may be paying less than the previous one.
Despite the economic gloom, it asserts that spend and footfall on the High Street has not been depressed and is back to or above pre-pandemic levels. Data from Mastercard which is adjusted for inflation and increased credit card use shows an increase of 10% in retail spending on the High Street compared to 2019.
believes that commercial rental values have been over inflated within Putney for nearly a decade and are coming down. However, landlords are often reluctant to accept that a new tenant will be paying less than the previous one. This means it looks like the unit has no interest whereas it is actually simply overpriced.
Cllr Kemi Akinola said, “Everyone wants Putney High Street to retain its vitality. We value the commitment shown by the landlords towards Putney's future and recognise the important role they play in shaping the town centre's character.
"This meeting was a crucial step in fostering collaboration, understanding the challenges being faced, and finding sustainable solutions that encourage long-term tenancies, support local entrepreneurs and benefit the entire community.
“In the meantime we would urge Putney residents to support local business and use the town centre shops.”
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