Only six empty units on three main city shopping streets - as retail chiefs say Peterborough's economy boosted by university students

A low number of empty units in Peterborough’s core shopping streets is partly due to the arrival of university students and promises of Government regeneration cash, say retail experts.

A snap survey of empty shops and stores in the retail heart of the city reveals only a few empty units among scores of retailers, eateries, banks and building societies , convenience stores and estate agents.

Bridge Street, the Cathedral Square area and Long Causeway have an average of two empty units each with about five closed in Westgate and four in Cowgate.

Perhaps unsurprisingly the 40-year-old Queensgate Shopping Centre still bears the scars of the disappearance of its long-time anchor tenants John Lewis, which had spread itself across four storeys, and fashion chain Next, with 10 other empty units and while the adjoining Westgate Arcade is flourishing it has about seven empty units.

Yet there is agreement among business leaders and academics that retailers in Peterborough are faring better than seemed possible in the current economic climate.

And the beginnings of a university economy with students beginning to flow into the city following the opening last year of ARU Peterborough as well as the prospect of millions of pounds of Government regeneration money to help transform the city are thought to be part of the reason for a new buzz about town.

And a further boost could be in store for retailers in about weeks with an expected – and long called for – cut in business rates to be announced by the Government.

Pep Cipriano, manager of Peterborough’s Business Improvement District, said: “Peterborough is known to have one of the lowest number of unoccupied shops.

“The High Street has changed over recent years. There is more of a focus now on trying to bring a leisure offering to city centres and businesses are diversifying to bring in that sort of thing.

“I have noticed that people’s dwell time in the city centre is a bit longer. They may be coming in less but when they are here they stay longer and make it more of an experience.

“I think that is a step in the right direction.

He added: “The city is beating its drum louder than ever done.

“We have the Station Quarter funding, we have the university and there are new units opening up soon.

“It is very early days but I think we are benefiting from the arrival of students at the university - it’s exciting.

“I can’t wait to see a new audience of people enjoying the city centre. We’re getting more residential accommodation in the city centre and that can only be good of the city.

Mr Cipriano, who managers an area comprising 427 levy paying businesses, added: “It is a really positive time for Peterborough.

"But retailers are going to be challenged at the moment, it’s not easy.

"However, the city centre is not on its knees. It is improving and we are in a good place.

"The handful of retailers I’ve spoken to are quite pleasantly surprised.

Recruitment is main difficulty

"The main challenge they have is recruitment. Lots are struggling to recruit on every level.

"I am reminding businesses there are many ways they can tap into the education network. There are a lot of students now who want jobs during their studies and afterwards.”

Dr Cheryl Greyson, senior lecturer in the Faculty of Business, Innovation and Entrepreneurship at ARU Peterborough, said: “It does feel like there is a good vibe in the city centre.

"It could be new investment that is coming into Peterborough and because we are seeing the start of a university economy that the city does feel really good. There is a lot of positive news at the moment.

She said Peterborough’s overall offer including shops, new eating outlets, leisure attractions and heritage offers, particularly around the Cathedral, tended to encourage more people to travel to the city.

Dr Greyson said: “People are prepared to travel a bit further for that experience-led shopping destination and a day out.

“Peterborough has a positive offer.

Students are loving the city’s retail offer

She added: “There is a buzz about the university. About 120 international students have just joined us, there are more new undergraduate students and they are enjoying the experience - the students keep asking ‘what can I do?’ - they want to explore and are really positive about the city.

“That buzz is going to spread around the city and the local eateries and shops are going to see that.

“My international students know all of the shops by name now, they have learnt the brands and they are using them.”

Dr Greyson also said that retailers were being more innovative to attract customers.

“One I am really impressed with at the moment is Schuh, in the Queensgate Shopping Centre.

"This is a company that is using technology so beautifully, to make the shopping experience seamless and interesting and the way they serve their customers and help them through the payment process is really slick.

“So you have companies like that using technology really effectively so we are seeing the traffic coming through.

"Places like Flying Tiger always have good footfall because customers can really enjoy a browsing experience using good technology

“M&S is on the turn - focusing on kidswear, good basic wear and sportswear – rather than trying cater for a younger audience that doesn’t really want to shop there.”

Fashion retailer Helen Hardy, owner of Elsie and Me, in Westgate Arcade, who attracts many out-of-town customers, said: “Business is not really bad especially given the terrible economic background but it’s not brilliant either. It’s been a bit hit and miss really.

"The last three months of last years were not too bad and January was better than I had expected it to be.”