Purpose

Update on High Street Rental Auctions and approval to go out to public consultation on the chosen designated area

Decision

RESOLVED:

KEY DECISION

That the Executive:

a)     Approved the designation of a defined High Street Rental Auction area within Wellingborough Town Centre and approved the progression of the implementation of the High Street Rental Auction powers within the designated area.

b)     Delegated authority to the Director of Assets and Environment, in consultation with the Executive Member for Planning and Economic Growth, to:

•         Finalise the designation boundary

•         Identify suitable premises

•         Implement the HSRA process in accordance with legislative requirements and Government guidance.

Reasons for Recommendations:

•         Delivery of prior Executive decision: The February 2025 report committed to bringing forward a further report setting out the evidence base, consultation findings and proposed next steps for High Street Rental Auctions. This report fulfils that commitment and enables progression to delivery.

•         Supports regeneration and corporate priorities: High Street Rental Auctions provide a mechanism to bring long-term vacant commercial units back into use, supporting the Council's objective to create safe and thriving town centres and contributing to the delivery of the Wellingborough Town Centre Masterplan.

•         Evidence-led targeting of intervention: Analysis of vacancy data demonstrates that Wellingborough Town Centre has the highest level of eligible vacant premises, ensuring that intervention is focused where it will deliver the greatest impact.

•         Compliance with statutory process: The Council has undertaken statutory consultation in line with requirements to designate a high street area prior to implementing HSRA powers.

•         Alignment with Government expectations as an Early Adopter: The proposed pilot approach, focusing on a limited number of units within a single area, reflects Government guidance for Early Adopters to test and refine the HSRA process before wider rollout.

•         Availability of funding to support delivery: Funding may be available to support elements of the HSRA process, including marketing of vacant units and the auction process, which will help maximise interest from prospective tenants and improve the likelihood of successful lettings.

•         Proportionate and managed approach to risk: Delivering HSRAs through an initial pilot enables the Council to: test legal and operational processes; understand resource implications; minimise financial and reputational risk

•         Opportunity for future expansion: A successful pilot will provide the evidence and learning required to consider extending the approach to other town centres across North Northamptonshire.

Alternative Options considered:

•         The Council could continue supporting town centre regeneration through existing investment programmes, business support and delivery of the Wellingborough Town Centre Masterplan, without implementing the High Street Rental Auction (HSR) powers. This option was discounted as it would not utilise the powers introduced through the Levelling Up and Regeneration Act 2023 to address persistent commercial vacancy, nor maximise the opportunities associated with the Council's participation in the Government's HSRA Early Adopter Programme. It would also limit the Council's ability to test the effectiveness of the new powers and inform future implementation across North Northamptonshire.