Peterhead town centre, like other larger towns in the UK has gone through turmoil over the last few years as the high-street retail market has plummeted.
Figures from the latest Local Data Company report show that the vacancy rate has been on the rise from 2015. Both retail and leisure vacancy in Peterhead are currently 2% above the UK average.
Peterhead is left in a vulnerable position with independents on the rise and national chains reporting further cutbacks ahead. There are however many gaps within the offering in Peterhead, with UK statistics showing that the leisure industry is on the rise, dropping 4% in the last year in Peterhead there are opportunities to attract people to Peterhead’s town centre, not just for retail alone but for leisure, culture and heritage.
While overall economy improves, Peterhead town centre needs to respond to the challenging wider climate of town centres. To create investment opportunity for the town centre and to allow the town centre to reinvent itself, Business Improvement District (BID): Rediscover Peterhead Ltd has joined in partnership with Aberdeenshire Council and a variety of town centre stakeholders to deliver the ‘Invest in Peterhead’ strategy and the incorporated actions.
The ambitious vision of the strategy requires collaboration and leadership to drive change. The action plan at the end of this document is made up of four key themes which are vital for the town centre to thrive.
Working collaboratively with partners we will aim to attract investment to Peterhead town centre, finding creative uses for empty space, both on a temporary and permanent basis to nurture Peterhead’s next generation of entrepreneurs and business owners.
To achieve this vision, the following objectives have been identified:
Create a partnership, consisting of Rediscover Peterhead Ltd, Aberdeenshire Council, landlords and agents of vacant property to work alongside other town centre stakeholders to deliver this strategy
Create investment opportunities for Peterhead town centre
Create opportunity for enterprise
Improve Peterhead’s town centre offering and its aesthetics