Rents at Tamworth’s Ankerside shopping centre have been cut to as little as £15 a week as part of a new initiative designed to bring more start-ups and independent businesses into the town centre.
The new community lettings scheme launched by Tamworth Borough Council offers selected units ranging from 223 sq ft to 1,032 sq ft, with flexible short-term leases and licences, including break options.
The council said there has been a “fantastic” response to the scheme already.
Councillor Nova Arkney, the council’s portfolio holder for infrastructure and the local economy, said: “This new approach at Ankerside is about giving start-ups, and small local businesses a genuine opportunity to establish themselves in the town centre, without being priced out before they’ve had the chance to prove themselves.
“We know the property costs are often the biggest barrier for smaller businesses, so this scheme seeks to support while businesses build up their trade.
“Ankerside is a key part of our town centre and bringing in a wider mix of independent and businesses will help drive footfall and create a more varied experience for everyone.
“I’d encourage any start-up or local business thinking about a town centre presence to get in touch and find out more.”
The scheme is open to registered charities, community interest companies and non-profit community groups, as well as social enterprises that reinvest most of their profits into their social mission and local independent start-ups that have been trading for less than two years and are based within 10 miles of Tamworth.
The reduced rents will initially apply for 12 months, with costs reviewed annually as businesses become more established.
The council is also offering help with grant signposting and letters of support for funding applications, potentially helping successful applicants further reduce the cost of setting up.
