Purpose

New High Street Rental Auction legislation, introduced by the UK Government, grants local councils the authority to auction leases for commercial properties that have been vacant for over 12 months. A key requirement for a vacant property to be eligible for auction under this scheme is that it must be located within a designated High Street area.

Following a public engagement exercise on three proposed designated High Street Areas in Margate, Cliftonville, and Ramsgate, the High Street Areas are ready to be designated.

Decision

Cabinet approved the proposed High Street designated areas in Margate, Cliftonville and Ramsgate as areas where High Street Rental Auction Legislation will be applicable.

Reasons for the decision

Designating the high street areas in Margate, Cliftonville, and Ramsgate is crucial for addressing long-term commercial property vacancies. This designation enables the Council to utilise the High Street Rental Auctions scheme, allowing the auction of eligible properties.

This initiative aligns with the Council's commitment to creating a thriving place by revitalising town centres. It will stimulate the local economy and support small and medium businesses and community groups by helping them secure leases for empty units.

Alternative options considered

The council could decide not to proceed with the option to designate high street areas and not use the powers under the High Street Rental Auction scheme to action vacant high street properties.

Failing to proceed with this option would be detrimental to the council’s commitment to creating a thriving place. It would mean not utilising the new legislation to actively work towards reducing the number of vacant commercial properties along the high street.