Opportunity Bromley launches new scheme to bring vacant commercial properties back into use
Opportunity Bromley has announced the launch of a new initiative aimed at supporting landlords to bring commercial premises that have been vacant for a significant period of time, back into active use to revitalise town centres and boost the local economy.
The ‘Vacant to Valuable’ pilot scheme has been designed to tackle the growing challenge of empty high street units and commercial premises, by providing targeted support to property owners; encouraging them to re-let or repurpose their spaces more quickly and effectively. With over 80% of vacant commercial premises remaining empty for over 2 years or more; it provides practical support to landlords in a pro-active way and helps create opportunities for new businesses to establish themselves, contributing to vibrant, thriving local high streets.
Supporting High Street Renewal
Vacant properties can have a significant impact on the vitality of local centres. Through this new scheme, Bromley’s Economic Development team in collaboration with existing partners within the local Landlord Forum offers practical assistance to landlords or managing agents to reduce vacancy periods and attract new occupiers/tenants, particularly independent businesses and start-ups looking for office, retail/leisure and industrial spaces.
The initiative forms part of the Council’s broader commitment to support economic recovery and growth, promote entrepreneurship, and enhance the appeal of local high streets.
What the Scheme Offers
The scheme is open to a range of commercial property types, including office, retail, hospitality, industrial and service-based units across the borough. Eligible landlords and potential Occupiers/Tenants will be able to access a range of support measures, including:
Specialist advice and brokerage support to connect landlords with prospective tenants
Marketing and promotional support to increase the visibility of available units and occupiers/tenants seeking new premises in the Borough
Benefits:
For Landlords: faster occupation and more consistent rental income; direct introductions to active, pre-engaged occupiers; practical support on positioning, works and lease structuring.
For Commercial Agents: access to engaged landlords & priority vacant units; introductions aligned to real occupier demand; co-ordinated approach to reduce duplication and speed deals.
For Businesses/Occupiers: access to affordable commercial space, tailored support & advice.
In general, the scheme contributes to a more diverse & appealing local high streets, re-activated commercial units, increased footfall, business activity and jobs; along with a more market-ready property offer to support inward investment.
Encouraging Innovation and Flexibility
The scheme also encourages landlords to consider flexible leasing models, meanwhile uses, and innovative business concepts that can help activate vacant spaces and respond to changing consumer behaviour. By making it easier for new and growing businesses to access physical premises, the scheme aims to create a more diverse and resilient local economy.
How to Apply
Landlords or potential Occupiers/Tenants interested in participating in the scheme can find further details by contacting Bromley’s Economic Development team directly.
Driving Local Growth
This initiative complements the Borough’s wider regeneration and business support programmes, which are focused on supporting enterprise, improving place-making, and ensuring that Bromley remains an attractive destination for investment and growth.
Bromley Vacant Premises Landlord Survey:
Landlords/Managing Agents are also encouraged to complete our short Bromley Vacant Premises Survey at the following link. This also provides a good opportunity for stakeholders to provide initial feedback on any challenges experienced with vacant property and will only take a few minutes to fill in.