Distressed Retail Property Taskforce enlists Colliers in town centre analysis
The Distressed Retail Property Taskforce has announced that it is to partner with global real estate firm Colliers International to help industry experts undertake an analysis to identify the property-related barriers to vibrant town centres.
The Government supported the establishment of the taskforce last year in response to the Mary Portas’ review of the UK's high streets. Chaired by retail property trade body the British Council of Shopping Centres, it brings together the public and private sectors, with experts from banking, retail, local government and the property industry.
Colliers will now begin a process of assessing towns and cities that are in "distress", examining the property-related issues affecting these locations and identifying any themes across the country that could be acted on to aid regeneration.
The findings will be assessed by the cross-sector taskforce, to identify workable solutions to issues relating to property investment, management and development.
Mark Williams, chairman of the Distressed Retail Property Taskforce and partner at asset managers, Hark Group, commented: "We were delighted with the level of interest and range of proposals put forward, which illustrates how important this area is seen by the wider industry. We were however unanimous in our decision to select Colliers and welcome them on board to support this important, and unprecedented, assessment of UK town centres."
Mark Charlton, head of research and forecasting, Colliers International added: "We will be looking at the root causes of town centre distress and working with the taskforce to address them. A primary objective of the research will be to identify a range of robust solutions to assist in the repositioning of town centres to enable them to operate successfully within the new retail hierarchy."
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