What’s happening on our high streets in Stamford, Rutland, Bourne and Market Deeping
With prices being hiked up and a shift to online shopping in recent years some businesses have been forced to adjust.
In the past year dozens of businesses across the area have announced their closure but about just as many have opened.
It’s been a year and a half since all covid restrictions ended and Stamford is evidently bouncing back with a bustling high street and bus loads of tourists coming in every day.
Gavin Hynes, director at estate agency Eddisons, said: “In the past three months there has been good activity.
“It isn’t different from the demand before covid.
“For retailers looking to go into premises, it is still as strong as it always has been.”
Among Eddisons’ latest projects is securing a new company to move into Phase Eight, which is leaving Ironmonger Street this month.
It is also marketing the Margo and Plum building in St Mary’s Street which has generated interest, and agreed a deal on the Fine Food Group a few doors down.
Eddisons has seen a mix of independent retailers and chains wanting to move into the town centre.
When marketing Phase Eight there were six interested businesses - three of them were national chains.
“Stamford has a demand. It has held up very well - there are towns and communities where that hasn’t been the case,” said Gavin.
“National chains like a town which is doing well and they feel that’s where they want to be.
“That is testament to the Stamford businesses.”
In Stamford there are a few long-term empty units including the former M and Co in the High Street, the old Jaeger shop in St Mary’s Street and the Shawarma bar in St Paul’s Street. However, on the whole as soon as a property is advertised for lease it gets snapped up before the shop even shuts.
The former Haus of Botanica in St Paul’s Street is being taken over by alcohol business Spirits Of Stamford while the old Colemans shop is now Vom Fass, a German fine food and drink store.
In recent months Richardson estate agents helped to sell and rent out a number of shop buildings in Stamford.
Andrew Leech, registered valuer for and on behalf of Richardson, believes Stamford is ‘doing very well’.
“There is a really good mix of retail and cafes,” he said.
“Habits come and go. At the moment people do have an appetite for coffee. Whether that will last forever, who knows?
“It is nice seeing the cafe culture.”
He noted that as Peterborough’s shopping scene declines, more people are coming for a mooch around Stamford.
Richardson is also advertising a new unit as the owner of Willoughby’s nightclub looks to turn the downstairs bar into a retail space.
The talk of the town for estate agents in Stamford at the moment is the former HSBC building located on the corner of the High Street and Red Lion Square.
HSBC, formerly The Midland Bank, has taken a prime spot on the High Street for decades, but the banking giant put the building up for sale following its closure in May.
There have been dozens of enquiries from people interested in buying the building.
Estate agent CBRE has listed the property with a guide price of £700,000, although the official price will be given on application.
Andrew Leech described it as a ‘big opportunity’.
Bank closures across the area are expected to bring more retail space to the towns across the area.
As well as HSBC, Stamford has recently lost branches of Barclays, and Nottingham Building Society, which was replaced with Melton Building Society.
Rutland is set to be the first county in the country without a bank while in Bourne the last bank, Lloyds, closed last year.
Ben Freckingham of Whissendine-based estate agents P and F said that in Oakham there are a small number of empty units which make the shopping streets look a little bare.
However he doesn’t think there’s anything to worry about as businesses are snapping them up.
“My view is there shouldn’t be any vacants because we have interest in everything [we advertise],” he said.
Oakham is following a different trend as independents are dominating the town.
“In Oakham we don’t tend to get corporates,” said Ben.
“It is half the size of Stamford, so it’s not the same demographic.”
A deal has been agreed for the space above B Jewellery in Oakham High Street which will see a salon business move in.
The Colemans unit in the High Street and the former Stamford Heavenly Chocolates in The Maltings, Mill Street continue to be advertised until a new tenant is found.
In Uppingham there are just two empty properties to let, in High Street East and High Street West.
Ron Simpson, an Uppingham town councillor and a neighbourhood planning champion, says he is always happy to see scaffolding up as it means the town is benefiting from refurbishments.
“In the neighbourhood plan which protects Uppingham, we are not in a bad place compared to many,” he said, adding that it is important to keep shops and prevent them being turned into flats and houses.
As well as attracting locals for shopping Rutland being ‘a great tourist destination’ brings in people from further afield.
“Uppingham has a very strong artistic presence but it also has a bakers and butchers which are the very things people move to France for,” said Ron.
“We shouldn’t underestimate how important they are to people.”
It’s a more dire scene in Bourne, according to the town’s business club leader Kay Muxlow.
She believes it’s viewed as a town to live rather than a town to visit, with shops often not surviving.
“We have hairdressers and restaurants but we don’t have much retail to entice people in,” she said.
Greetings card shop, Two Jays discount store and Tan 360, recently announced closures resulting in empty units in the Burghley Centre, alongside Age UK and The Beauty Retreat.
Bourne’s former post office in West Street is available to rent, as is the a former convenience store in Abbey Road.
In the past few years, including before the pandemic, both chains and independents shut including JT Whyles shoe shop, M and Co, Clintons and Jessie Bellamy clothing store.
“The cost of rent is hard to afford. It’s hard to have somewhere in the high street in this area,” said Kay.
However what she believes is the root of the High Street’s struggles is the ‘downturn of the market’ on Thursdays with fewer stallholders attending.
“It was thriving and everyone was talking about how on Thursdays they go to the market and then shopping but it has dwindled,” she said.
“People have stopped going into town and are going to places like Stamford instead.”
Kay says she has been told by business owners that they are closing early some days as there is not enough footfall to justify staying open.
In Market Deeping the biggest unit that was available to rent, The Original Factory Shop, which shut in May, recently became The Furniture Warehouse.
