Member

Even announcing this inquiry would bring so much cheer to the high street. Shops, in particular small retailers, are going bust every week, and rates are the third-highest cost to a high street retailer. I did a little bit of research and asked Colliers—a nationwide firm of surveyors—for some help. I asked for both the high street rental value and the rental value of warehouses in Burnley. I was intrigued to learn that in rental terms, on a floor-area basis, a warehouse in Burnley would cost only 25% of high street rents, which are constructed using a complicated formula. However, the warehouse in Burnley, if it is for a guerilla retailer, will produce far more in profits per square foot than anyone on the high street. My example refers to the prime pitch in Burnley high street and the latest pre-let of a big warehouse on the edge of Burnley.