Guildford Town Centre Will Remain Healthy Predicts Report

Published on: 16 Jun, 2013
Updated on: 16 Jun, 2013

Guildford’s ‘archetypal successful’ High Street predicted to remain resilient to changes in the retail market.

by Maria Rayner

There is good news for Guildford town centre in a recent report on the future of the UK retail sector.

The town was named as an archetypal successful high street in the paper, written by the Centre for Retail Research, which examined retail in 2018, both online and traditional.

Although it was concluded that the majority of residents are ‘Waitrose types’, there is a significant proportion of lower socio-economic group shoppers joined by those coming from up to 50 miles away.

Professor Joshua Bamfield, director of the Nottinghamshire-based centre, said: “I would have thought that Guildford would lose a few shops but that the town is okay. In terms of overall retailing it is the smaller neighbourhood shops and parades that are in most danger.”

According to the research, 164 major or middle-sized companies, similar to HMV and Woolworths, will fold, equating to 22,600 shops or 140,000 employees. If the prediction proves accurate, this will mean that a further store numbers across the UK will fall by 22% by 2018 with a loss of 316,000 jobs.

Town centre units such as these in the White Lion Walk are better placed than those in out of town locations, according to the report.

This future retail crisis will be caused by a cocktail of factors: running costs have increased by 20% since 2006, while consumer spending has only reached 12%; since 2000 high street spending has reduced from 50% to 40.2% of overall spend; and, of course, an increase in online retail sales.

By 2018, companies with a strong online presence will only need 70 high street stores across the country to create a national presence. This compares to 250 in the mid 2000s.

Radical changes are needed if UK town centres are to survive and the researchers warn that retailers need to move away from the standard opinions that all shops are doomed or that online will peak and there will be business as usual for those who remain.

Guildford should take heart: despite the doom and gloom, it is predicted that retail outlets in prosperous and tourist areas will continue to do well, in particular, those which serve, “a mainly prosperous hinterland”.

One of the more recent retail casualties – Jessops that used to trade on North Street.

However, while this is good news for our High Street, some of the smaller, out-of-town parades of shops may suffer, as well as out of town retail parks such as Ladymead. Even giant retailers such as Tesco and B&Q have reduced the number of large stores they are opening and have plans to divide and sublet their hypermarkets.

One conclusion is that radical changes need to be made by retailers, town centres and the government to preserve what is best in retailing.

The report echoes some statements made by the leader of Guildford Borough Council, Stephen Mansbridge, recently, in his speech to The Guildford Society. Cllr Mansbridge (Con, South Ash & Tongham) foresaw a continuing rise in the social/entertainment aspects of the town centre and stressed the importance of Guildford exploiting its heritage and tourism potential.

Share This Post