William Eichler 04 December 2024

Councils empowered to auction off leases

Councils empowered to auction off leases image
Image: raymond orton / Shutterstock.com.

The Government has handed councils new powers to tackle the empty shop scourge and revitalise high streets.

Local authorities are now able to auction off leases for commercial properties that have been empty for long periods.

The High Street Rental Auctions powers were originally introduced by the Levelling Up and Regeneration Act 2023 and came into force on Monday (2 December).

Business secretary Jonathan Reynolds said: ‘Empty shop premises that gather dust aren’t doing any good to high streets, jobs and the economy. This is why we said we’d lift the shutters, and today we are delivering on that promise.’

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