Businesses in Bristol’s Whiteladies Road are reeling under the triple whammy of Rates, Roadworks and RPZs.
That’s according to commercial property specialists at Bruton Knowles, who fear the combined effects of rising costs and falling trade could further undermine one of the city’s favourite shopping and leisure destinations.
Head of office Paul Matthews said traders on Bristol’s so-called ‘Golden Mile’ needed a lifeline from the city council – before one of the city’s favourite shopping streets lost more ground on its competitors.
“It’s clear to many Whiteladies Road has lost something of its appeal. According to the clients we are speaking to the ‘Three Rs’ has got a lot to do with this. We are seeing an increasing imbalance as café bar businesses come and go – while long established shops simply go.”
He said while rateable values for retail and commercial property remained high, businesses relied on significant footfall to help cover their costs.
But the newly imposed RPZs – combined with long term roadworks which have started opposite the Victoria Rooms has restricted access for shoppers as well as staff.
Paul Matthews said: “At least the roadworks will provide traders with an opportunity to claim for a temporary reduction in their rateable values.
“If affected businesses act quickly the disturbance to their trade can be reflected in the Rateable Value of the properties and hence the rates payable.
He said: “Although we all recognise that these works are vital the associated road closures and lack of access can seriously affect business profits.
“In the longer term, the mix of traders and wider appeal of Whiteladies Road needs to be improved, as well as enabling shoppers to spend time at the location.
“Otherwise, the quality of the pitch will decline leading to a drop in retail property values and alternative uses potentially changing the face of the road.”
