More foot and cycling traffic could help the UK's high streets
Posted on in Business News, Cycles News
Following the improvements made by Transport for London, to making cycling and walking easier it was found that more businesses were filling retail space.
Transport for London (TfL) have stated that, improvements encouraging people to walk and cycle could be a step in the right direction towards supporting the UK's High Streets.
TfL published research that has highlighted how improvements to the safety and simplicity of walking and cycling in London's town centres and High Streets have led to an increases in retail rental values, more retail space and a 93% increase in people walking in the streets.TfL's research also found a correlation between the general public walking, cycling and using public transport and the benefits to the high streets. People walking, cycling and taking advantage of the public transport systems spend 40% more each month than car drivers.
Locations including Bromley North Village, Hornchurch Town Centre, Clapham, Woolwich Town Centre and Walworth Road were assessed in detail to evaluate the effects of improvements made such as, widened footpaths, outdoor spacing and seating, new public squares and pedestrian crossings. In comparison to unimproved and untouched areas, it was found that footfall increased, people spent more time in the street, retail rental values increased, more retail space was filled and office rental values increased.
This research was published as part of a new online hub to demonstrate and shed light onto the economic benefits of the TfL's Healthy Streets Approach. It is TfL's aim to create high streets that are designed for the people.
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