Willetts Launches High Street Plan

Science and Universities Minister David Willetts has announced a brand-new initiative designed to re-invigorate the UK’s high streets. The £8 million project, a competition run by the Technology Strategy Board, will allow businesses to compete for funding awards as part of a move to trial innovative ways of addressing the challenges facing UK high streets. Retailers looking to change property should speak to a commercial property solicitor.

The competition is looking to find innovative technology solutions to retailing and services, logistics, travel and traffic issues that affect growth on the high street. “Technology plays a vital role in people’s everyday lives and has the ability to influence our movements and shopping habits. By developing innovations to regenerate the retail sector we will be able to breathe new life into the UK’s high streets,” Mr Willetts said.

The competition could lead to a dramatic shift in the way that shops on the high street operate, such as providing shoppers with real-time information which they can use to their advantage. “Britain’s shopping culture is changing with online shopping pushing town centres to evolve and exploit new technology to prosper and attract people to their local high street,” High Streets Minister Brandon Lewis said. “This Government is committed to supporting high streets and this competition will challenge them to come up with exciting and innovative ways to be at the forefront of change.”

IBB has one of the largest real estate groups in West London and the South East, with expertise in commercial real estate,residential development, real estate finance, construction and real estate dispute resolution . Contact a member of the team by visiting the relevant service page, call us on 08456 381381 or email CRE@ibblaw.co.uk.