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“ It seems invidious that any private school institution should be milking local assets at the expense of local vitality instead of charging a going rate to parents for their off-springs private education. Ones mind drifts to thoughts of robber barons. hope it's not the gdst just up the hill.”Perhaps they are using the income to provide bursaries for assisted places?  I believe many private schools provide for brighter or poorer children, in part in line with their commitments to maintain their charitable statement.  If there were less requirements put on them perhaps they wouldn’t need to try so hard to raise money?Love that on here any motive is so often assumed to be the worst without any proof.(Note I didn’t go to private school, but was lucky enough to go to a grammar school in the 80s, private was never an option, but I fail to see people’s need to sneer at them as oft-times done.)Having said that I think Jonathan’s post far more illuminating - it could well be that a lot of retail here is owned by landlords with debt covenants which would cause problems if the rental income is reduced too much.I see in the medium term only one likely solution, ie that these properties will either have their rental income fall where landlords can take the pragmatic view, or the landlords would default with the properties being taken over by the lenders and possibly resold and repurposed.  At that stage rents should increasingly normalise downwards, but it sounds like it could be a process that takes a while.For sure it would seem that retail values will reduce across the country (eg one large retail owner intu recently fell into administration https://www.retailgazette.co.uk/blog/2020/07/61-job-cuts-at-intu-hq-following-administration/  this would cause debt restructuring allowing what emerges to be more flexible in the current market).  Broadly lenders after a period would notice that there was zero rental income and take action one way or another.Retail not just owned by the “other” (in this case the rich and disapproved of) but also as Jonathan again mentions, by pension funds which often provide key income for people who are decidedly not richNot the time for anyone to be opening on the high street I would have thought, although glad to see/ hear we have the odd business trying (Nick G mentioned that Lidl will still go ahead and locally I see the Putney wine bar on its way and a new clinic on PHS)

Mike Warman ● 2130d

Replying to Lucille’s point re commercial landlordsI spoke to  two owners of the businesses on the high street recently about rental rates, which have gone up every year on an agreed ratchet mechanism, irrespective of trading conditions. What I was told (in two separate conversations):- A large private school trust owned the freehold- the tenant/shop owners believe the trust had borrowed against the assets in order to fund development at the school- in order to avoid having the asset devalued (and therefore sustain the level of borrowing against the asset) it was important for them to have flat or increasing rental rates on the sites - therefore there was an incentive for them to keep the rent at the same or rising rates, and accept short term vacancies filled by the likes of the mobile phone unlocking stores- Finally, they believed there were many other properties on the high street in a similar ownership situation I think we/Positively Putney  need to investigate if this is a structural reason why the high street cannot sustain a critical mass of decent quality outlets when there is adequate foot fall, surrounded by an area with (relative to the rest of the UK) good rates of employment and general demand for local shops and services. If even M&S and Boots Opticians cannot make the commercial case to remain open, there is likely little hope for small local independent businesses.Given this is based on two conversations, I accept that it is not fully validated and that we should investigate fully before making any assertions. However, if it were found to be true, I believe the commercial interests of the school are potentially limiting/damaging the local community and, with a proper set of facts, we should raise this with the board of governors. How can we investigate if the above is true and/or a major factor in the state of Putney High Street?

Andrew Mccaffer ● 2130d

I think PP are doing a great job in incredibly difficult circumstances.  As I always bang on about, Wandsworth borough has one of the youngest populations in the country - the average age of a resident is mid-30s (and getting younger) and the majority live in flats or shared accommodation.  We have to remember that this forum, whilst often entertaining, is not remotely representative of Putney at large.Of course our High St needs to try to reflect ALL residents, but simply equating Putney with Barnes  or other places with a vastly different demographic to ours won’t solve the current problems.  We have to build a High Street that appeals to a large majority or it will continue to decline....now sadly I’m no longer anywhere near my mid 30s and am officially an old fart, but I believe research shows that this demographic in London want places they can eat and drink (they lack space at home to entertain), green / outdoor space (few have a garden) and an environment safe for very young children (many have babies / toddlers but move away from the area at school age.) Car ownership is low, but internet shopping is high - although uniqueness is highly valued, so independent stores are popular.  I agree with Lauren, therefore, that we need a High Street that is a mix of independent stores and entertainment venues (restaurants, cafes, bars etc.) From what I’ve seen PP are trying to address all of these - but it’s undoubtedly hard.  The biggest challenge being that the main purpose of the High Street right now is to act as a major traffic thoroughfare.  If anyone has the balls to tackle that, then we could see something transformational, but I suspect it will be 20 years before it happens.

Craig Fordham ● 2131d

Ollie Quinn and Boots Opticians having now joined the list of shops on Putney High street that have closed one is again struck by the inability of any of the bodies/organisations involved in attempts to galvanise a revival to make a difference in this tough economic climate. This evening I counted twenty empty premises as well as one shop that is due to close soon. Perhaps the more arithmetical resident can work out the percentage of closed premises against the total number of shops on the high Street?Overwhelming anecdotal evidence from local residents that Putney High street is a mess aligned to boredom with the number of jolly paintings on plate glass might help to facilitate    real positivity through the generation of sensible ideas. To begin with there needs to be far greater acknowledgement of the radical change that has occurred in shopping habits, a recognition that a strategic plan to lower rents must be implemented as soon as possible, the encouragement of pop up shops and perhaps funding for a drop in centre for homeless people (I hear controversy in the wings!). Wandsworth Councillors, representatives from Positively Putney and The Putney Society may even decide to live dangerously, walking into shops and introducing themselves before asking shop assistants and customers what they think about the situation and what steps they believe might make for an improvement...Anything, anything, but the feeling of ennui that has been induced through the local status quo suggesting that what is being done at the present time works, that it is in the interests of Putney High Street, the residents who live here and visitors who may for whatever reason encounter this thoroughfare.

Miles Thompson ● 2132d