This article delves into the recent guidelines regarding high street rental auctions in England, outlining their intended impact on vacant commercial properties.
Understanding High Street Rental Auctions
The UK government has initiated new regulations to help revitalize high street areas plagued by longstanding vacancies. Effective from December 2, 2024, these regulations introduce a system of mandatory high street rental auctions aimed at addressing the issue of unoccupied commercial properties.
Purpose of the Auctions
These auctions are set to empower local authorities to directly tackle the challenge of persistently vacant premises in urban, suburban, and rural centers. The mechanism allows businesses and community organizations the opportunity to lease these spaces, fulfilling a “right to rent” mission for commercial premises.
Key Features of the New Regulations
- Implementation of a 12-week auction period for eligible premises.
- Clear criteria determining which properties fall under the new regulations.
- Detailed process for local authorities, including various types of notices that will be issued.
- Consideration of permitted development rights connected to auctioned properties.
Speaker Insights
The regulation details were elaborated upon by Russell Hewitson, Associate Professor of Law at Northumbria University and a member of the Law Society’s Property Section Advisory Committee. His insights were shared in a recorded session on March 26, 2025, focused on the implementation of high street rental auctions.
Conclusion
With these new rental auctions, local authorities are better equipped to manage vacant commercial properties effectively, ultimately aiming to invigorate high street areas across England. Businesses and community groups now have a structured opportunity to engage with these spaces, fostering economic growth and community development.