Lambeth designates three areas for High Street Rental Auctions
Local shopping streets are the heartbeats of our communities, and Lambeth council is committed to doing everything it can to make sure they are thriving and attractive places to do business.
High Street Rental Auctions (HSRAs) are a new power that allows councils to require landlords to rent out “persistently vacant” commercial properties.
Lambeth currently faces a ten-year-high retail vacancy rate of 26%, with Brixton among the most affected areas. Long-term empty units undermine confidence, reduce footfall and impact perceptions of safety and vitality, concerns consistently raised by the borough’s Business Improvement Districts (BIDs) and community groups.
The programme will see long-term empty units in these areas being auctioned to new tenants on leases of between one and five years, helping to reduce vacancy, support local entrepreneurs and bring fresh energy back to high streets.
Lambeth will also work closely with local partners, including Business Improvement Districts, to maximise the impact of the programme.
Area Designation
Using its Business Rates data, Lambeth Council identified three areas in the borough that have the highest number of long-term high street vacancies across different types of high street. These are:
- Brixton Major Town Centre
- West Norwood District Centre
- New Park Road Local Centre
Following a public consultation, these areas have now been officially designated as our first High Street Rental Auction areas. Designation means that, where the legal conditions are met, HSRA powers could be used for eligible properties located on these streets.
While demand for space in Lambeth remains strong, rising rents can limit access for local and underrepresented entrepreneurs. HSRAs provide a new mechanism to widen access to high street premises and support inclusive growth.
The council will prioritise proactive engagement with landlords and explore voluntary solutions before pursuing formal notice and auction proceedings through the programme and support will be provided to help prospective tenants navigate the auction process.
If you are looking for a property to start your new venture or grow your business in Lambeth, please complete our property enquiry form below to register your interest in Lambeth’s High Street Rental Auctions programme.