Carnwath: some high streets 'may never recover'

Carnwath: some high streets 'may never recover'

Alison Carnwath, the chief of commercial property company Land Securities, has said some high streets may fail to recover from the impact of the recession on consumer spending.

In an article in Retail Week, Carnwath said the company’s “attractive, well-located shopping centres and retail parks continued to trade well” while leisure and multichannel retailing were “increasingly important".

However Carnwath added: “The negative impact of economic conditions on consumer spending means that certain high streets and tertiary locations may never recover.”

The company has also been working with Ocado and Amazon to integrate a multi-channel approach to its retail properties.

In March, the government responded to a report on the future of the high street by retail guru Mary Portas saying it accepted all 28 of her recommendations and would set up a £10m budget to help small businesses. However, the Bookseller Association’s head of trade and industry Sydney Davies said while he welcomed the report, the government were not doing enough to tackle high business rates and rents.