Metro Bank has set its sights on having a major presence on the high street, with up to 200 stores by 2020. Its “stores” will join the thousands of branches already on the high street: 10,247 come from the UK’s top six banks alone. This figure could keep rising following the call in April from the Independent Commission on Banking for more competition in retail banking.
As a result, Britain’s high street offer is in real danger of becoming downright boring. Metro says banks are not responsible, and that it is natural high street evolution that is pushing the change.
So perhaps it is very timely that last Tuesday, 17 May, retail guru Mary Portas was appointed by David Cameron to suggest ways government, businesses and local authorities can promote the high street. But here’s hoping she will also be able to make suggestions on how to spice up the mix.
Steady as she goes
The first of three sentiment surveys from Estates Gazette and Multi Development shows that respondents expect development to start coming back in 2013. Overall though, the retail sector so far in 2011 is on a relatively even keel compared with Q4 2010, so fingers crossed for a more positive Q2 2011.
