The property developer and investor Sam Ginda has launched a new company to help save British high streets from a post-pandemic crisis, Property Week reports. The initiative will focus on commuter belt towns and smaller secondary cities in need of investment and rejuvenation.
The venture, called Future High Street Living, has already kicked off in Ginda’s hometown of West Bromwich, with the proposed acquisition of Queens Square shopping centre. The development aims to provide new residential areas, mixed use, and build-to-rent facilities.
Ginda commented: “The Coronavirus pandemic has exacerbated the retail crisis and it’s incredibly sad to see the demise of the high street hastened, with many big names shutting their doors for good. Urgent action is needed to reinvigorate these areas that were once at the heart of local communities.”
By bringing struggling high streets back to life, Ginda wants to give people a reason to visit these areas once more. For example, the Queens Square shopping centre is currently just 40% occupied. He explains that by building 84 new houses, 200 residential apartments, and consolidating retail provision, he hopes to create a thriving and stable community.
The plans include improvements to the public realm, and all the new residences will be close to public transport links. The initiative should help to ease the housing crisis, and also start to reverse the decline of town centres. The intention is to build a sustainable locality that is an attractive and convenient place to live and spend time.
Ginda already has the support of West Midlands Mayor Andy Streets, who has provided a brownfield grant to Sandwell Metropolitan Borough Council to demolish the adjacent Bull Street car park. The space will be incorporated into the new development to create desirable new living and leisure quarters.
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