Tandem retailing – the future of High Street agency?
It can’t have escaped your notice that many High Street units across the country lie vacant, with a number of big chains going bust or closing stores. Whether it’s to do with BREXIT, out-of-town retails parks, online shopping or crippling rents, it’s a sorry sight. All might not be lost, however, with a new style of retail taking hold across the country.
Tandem retailing – where two businesses operate under the same roof – is a fresh approach to occupancy that can be mutually beneficial and applicable to estate agency. Of course, concessions are not a new concept but they’re more common in department stores. However, bringing unexpected disciplines together on a small scale makes sense.
For instance, the Post Office is a brand where tandem retailing has become natural. Many of its post masters are now operating within another business. There’s a counter inside a café, where people can grab a coffee while they wait to be served, and another Post Office inside an arts and crafts suppliers – handy for those who post the items they make to customers. Elsewhere, there is a trend for tattoo parlous opening up inside barber shops. It’s often that one trade feeds another, encouraging custom, enterprise and social media shares.
Although tandem retailing brings business benefits – sharing shop fitting costs and splitting the rent – there is a more serious side to this trading style. Bringing services together under one roof reinforces the benefit of face-to-face custom and good customer service. In a world where the threat from online operations is growing, offering people a unique High Street proposition and positive experience that leaves them feeling valued should not be underrated – especially in estate agency.
Perhaps you’re an estate agent who could house a mini coffee shop or art gallery? Could you rent out space – or even sofas – to local community groups? With smart space planning and a considered commercial refurbishment, you too could stay ahead of the retail curve, increase footfall to your branch and cement your status in the local community.
Written by: Harry Simons – harrysimons@mplinteriors.com
You May Also Enjoy
Section 21 reform divides landlords and tenants
70% of landlords anticipate rent rise due to Autumn Budget
Estate agent earnings fails to keep pace with inflation
Southern landlords face up to £22,000 tax hit
Corporate landlords cautiously optimistic after first six months of RRA
