Local councils have been given powers to auction commercial property leases that have been empty for prolonged periods in a bid to revive drab high streets.
Government says that local authorities have been handed new high street rental auction powers that “will create a ‘right to rent’ for businesses and community groups, giving them access to city, town and village centre sites”.
It adds the move “will stop disengaged landlords sitting on empty lots for more than 365 days in a 24-month period, before councils can auction a one-to-five year lease”.
Bassetlaw, Darlington and Mansfield councils are among a key local authorities who will pilot the new powers, which officially came into force at the start of this week.
This move was was set in legislation in November, after being introduced as part of the Levelling Up and Regeneration Act 2023 by the last Conservative government.
Business Secretary Jonathan Reynolds says: “Empty shop premises that gather dust aren’t doing any good to high streets, jobs and the economy. This is why we said we’d lift the shutters, and today we are delivering on that promise.
“Paired with the wider small business strategy to tackle late payments, getting more SMEs exporting, and boosting access to finance, we are unashamedly backing small firms, to get more people into well paid jobs and help grow our economy.”
The government says it will commit “over £1m in funding” to support local auctions.
