1. OPEN FOR
BUSINESS
Empty shops on
London’s high streets
Economy Committee
investigation into the viability
of London’s high streets

2. 1 The London Assembly’s Economy Committee has been investigating the
problem of empty shops on London’s high streets.
We have visited high streets across the capital to speak to
local traders and called in experts to City Hall to discuss
possible solutions.

3. 2 There are about 3,400 empty shops on London’s high streets. Vacancy has
risen as people’s shopping habits change, but the problem has been
exacerbated by economic conditions.
We have devised an emergency package of measures to
address this.

4. 3 Small high street businesses are facing particular difficulties. Lease terms
often mean that rents rise even as turnover is falling, and business rates
are an additional burden.
We recommend support for lease renegotiation and an
extension of Small Business Rate Relief.

5. 4 Many businesses find it hard to track down the landlords of high street
units. This makes it less likely that empty shops can be used for
innovative ‘pop-up’ initiatives, like this gallery in Camden Town.
To address this we recommend the Mayor set up a new
register of empty shop owners.

6. 5 Diversity is essential to maintain a thriving high street, but in many areas
there is an over-concentration of betting shops, pawnbrokers and payday
loan shops.
We recommend stronger local planning powers so councils
can impose limits where necessary.

7. 6 High streets that have one owner tend to perform better. In other areas,
setting up a Business Improvement District (BID) can help local traders
make strategic improvements jointly.
We recommend that the Mayor offers more support to
businesses seeking to establish a BID.

8. To read the report & find out
more about the investigation,
please visit:
www.london.gov.uk/empty-shops
Click on the report to visit investigation page