Minutes:
The Service Director for Economic Development introduced the Senior Economic Development Officer who presented an overview of the town centre. He outlined the economic context, including the cost-of-living crisis and the steep decline in demand for goods and services. There had been a significant switch to online retail, driven in part by the global pandemic and this had resulted in retailers moving out of the town centre or ceasing to trade. In contrast, there was significant capital investment planned in Chesterfield in the next few years.
It was explained that Town Centre Vacancy Rates were one of the indicators currently used to measure success. The data was collected monthly by CBC and although Chesterfield had consistently had a lower vacancy rate than the national average, the gap had narrowed and almost reached a level of parity.
Another measurement used was the level of footfall in the town centre, provided by Vicar Lane Shopping Centre. Levels were back to 80 – 90% of pre-pandemic figures and this was similar to what had been reported nationally.
Town centre car parks revenue had exceeded the 2019 levels since May 2022, but it was noted that there had been an increase in tariffs, so the figures did not necessarily equate to an increased usage of the carparks.
The town centre employment figures were available retrospectively and these did indicate a declining trend since 2016. The STEAM visitor numbers covered the borough as a whole rather than the town centre specifically. There had been a steady upward trend prior to the pandemic and although there had been a sharp decline due to lockdowns the recovery was positive and improving.
A discussion took place around how footfall statistics are determined and it was explained that as part of the redevelopment plans for the town centre a Wi-Fi net would be created and this would enable much more comprehensive data about the movement of people. A question was asked about whether there were any seasonal patterns in footfall numbers, and it was noted that the ‘welcome back’ funding and the animations it provided had generated an influx of people but hybrid working continued to impact the number of people using the town centre.
The officer noted that compiling the data into this format had been a useful exercise. Members and officers agreed that providing this snapshot regularly would help to build a fuller picture and identify trends.
Ongoing conversations with retailers and town centre businesses would continue, particularly in relation to any disruptions caused by the redevelopment work. Work would be carried out at night where possible and an open dialogue ensuring that everyone understands the benefits of the schemes would be crucial.
A question was asked about the Northern Gateway Enterprise Centre and how the occupancy rates compared with the original business plan. It was explained that at the time the business plan was created both the Tapton and Dunston Innovation Centres were at capacity. The new centre had been open for two months, almost all of the smaller rooms were occupied, and the tenants were young and dynamic. The building was 52% let.
Members requested a further column of information on projects that detailed any partner agencies involved and highlighted where CBC was the project lead.
RESOLVED –
That a bi-annual update on the town centre projects be brought to the Enterprise and Wellbeing Committee.