Melanie Leech, Chief Executive, British Property Federation, said:

“We fully support Government’s ambitions to revitalise town centres but political gimmicks such as Compulsory Rent Auctions are not the solution.

“No property owner wants their premises to be empty. In our experience, property owners are willing to do zero-rent deals to avoid boarded up shopfronts but the burden of business rates and other occupational costs mean it is still unviable for many small and independent businesses to trade from town centre premises.

“As the Government has acknowledged, levelling up is only deliverable through private sector investment in town and city centres. We need Government to follow through on its promise for a ‘system change’ which incentivises rather than risks investment by property owners  and supports those wishing to occupy their premises. This means fundamental reform of the business rates system and more creative and sustainable solutions, such as the BPF’s proposal for ‘Town Centre Investment Zones’ which would accelerate regeneration through a combination of tax and community incentives, planning freedoms and public-private partnerships.”