The UK government has pledged £210 million to regenerate high streets across the country. The initiative aims to transform boarded-up shops, pubs, and clubs into shared workspaces, cafes, and community hubs.
Andy Burnham stated that the funds would "help put power back into the hands of locals who know their area best" as part of an effort to "restore pride and bring hope back." He emphasised the importance of reviving high streets despite ongoing challenges such as the shift to online shopping and increased business costs.
The funding includes a new £125 million derelict buildings fund to support local councils in revamping vacant shopping centres, disused cinemas, and other abandoned buildings into locally needed spaces. A further £65 million will assist communities in England to rescue and revamp businesses at risk of closure, such as pubs and clubs.
An additional £20 million will be equally divided between funding co-operative ownership of community-important businesses and supporting council high street rental auctions for properties vacant for a year or more. This decision directs existing funds already earmarked for high street regeneration towards community-led schemes and is in addition to the existing £5.8 billion pride-in-place programme.