Savills : The Future High Streets Fund - supporting local ar…

Projects can include a combination of physical infrastructure, land assembly, new housing and commercial space or transport improvements. The fund will contribute up to £25 million with the majority of projects expected to be in the £5-£10 million range. Applicants are local authorities in England however it is expected projects will be co-funded by the public and private sectors.

The role of high streets and towns centres is changing as consumer behaviour evolves. Investment in town centres is crucial to ensure they provide the services demanded by the local catchment. Competition from online retailing has brought about a focus on 'destination shopping' including food & beverage; leisure; and cultural attractions in addition to grocery stores and local shops. The introduction of housing, offices and / or a successful night time economy has often helped improve the performance of town centres as people want to see more mixed use on their high street.

Applications to the fund will involve a competitive two phase process and will be assessed on a value for money basis. This means projects will need to be clearly defined and be evidenced as deliverable. Project benefits will also need to be clearly understood as will the role of all delivery partners across both the public and private sectors.

Savills is ideally placed to help applicants deliver successful bids to the fund. We offer retail, leisure and mixed-use, planning, urban design, economics and funding expertise nationwide to help support applications. We bring creative solutions and in-depth market knowledge.

The two phase application process includes -

- Phase 1 Expressions of Interest

- Phase 2 Full Business Case:

We advise acting quickly if you are interested in submitting to the fund as Phase 1 Expressions of interest close on the 22nd March 2019.

Further details are outlined here.