- Ground floor vacant unit rate of 8% which is much lower than the 14% national average for high streets
- Work continues as part of the Vacant Units Action Plan
Several new store openings in Cheltenham town centre and continued work by the council and partners has contributed to reduced vacancy rates and active interest from incoming businesses.
The council has today announced that around 8 per cent of ground floor units in the town centre are vacant, highlighting the vibrancy of the town centre and positive trading conditions in Cheltenham. According to the Local Data Company the national average for high streets is 14% vacant.
Tracy Cadogan, owner at Art Union, an art gallery and gift shop who recently opened on Winchcombe Street, said: “Cheltenham is a great place to do business. We’ve already welcomed lots of customers through the doors and everyone has been so positive. As well as artwork and gifts, we sell a lovely range of Cheltenham merchandise and we’re also happy to be sharing information for visitors like town guides and trail maps.”
Coming soon, the former Superdry store on the Promenade is being converted to a Charles Tyrwhitt store and Settebello Trattoria, a pizza restaurant, which already has an outlet in Gloucester Quays, is due to open on Imperial Lane.
The council is also in talks with several other potential businesses who are looking to move to Cheltenham subject to suitable premises becoming available.
Cllr Martin Horwood cabinet member for economic development, wellbeing and culture said: “This is an exciting time for Cheltenham, and we are proud that the high street and surrounding areas continues to attract investment from major brands and independent businesses alike, helping to make the town a vibrant and thriving centre of activity.
“Cheltenham performs much better than many other towns, footfall is strong, and the number of vacant units is lower than the national average.
“Of course, we are not complacent. As a council we will continue to play a strong leadership role in tackling some of the issues associated with the vacant units we do have – which includes ensuring landlords are cleaning up their shopfronts and proactively marketing their premises for let. It’s great to see that where vacant units do exist, our local businesses are making good use of space on a temporary basis.”
Francesca Inman, chief executive of Cheltenham BID, continued: “I am thrilled to see the positive impact our collective efforts are having on the vibrancy of our town centre. With a ground floor vacancy rate significantly lower than the national average, Cheltenham continues to stand out for both established and emerging businesses.
“Our ongoing conversations with landlords, the council, and the community is vital in maintaining and enhancing the appeal of our high streets. The successful openings of new businesses like Art Café and No. 1 Cheltenham restaurant showcase Cheltenham’s vibrant and inviting atmosphere. We are dedicated to maintaining this progress, ensuring Cheltenham continues to be a top destination for shopping, dining, living, and socialising.”
The council’s latest announcement comes after officers counted and reviewed all ground floor units within the town centre, as well as popular destination shopping areas including The Suffolks and Bath Road, as part of the ongoing Vacant Units Action Plan, commissioned by the council and Cheltenham BID.
The Vacant Units Action Plan seeks to understand the current status of buildings within the town centre and proactively work with landlords, agents and stakeholders to tackle the issue of vacancies, maintaining Cheltenham as a vibrant destination of choice to live, play and work.
