The landlord of the former Beales building on Silver Street and Harpur Square has confirmed that it will be improving the exterior following the apparent departure of its most recent tenant.
The windows of the building have been daubed with paint, ripped posters have been left inside, and there is also significant graffiti near the main doors on Silver Street.
A spokesperson for the building’s landlord, Panther plc, thanked the Bedford Independent for raising the issue with them, saying that the current tenant has a three-year lease, meaning that until they ascertain if the tenant has ‘absconded’, they are unable to enter the building to begin the clean-up.
Property lawyer and Bedford resident, Catherine Williams, told the Bedford Independent: “It’s tempting to resort to landlord bashing when properties look like this on our high street, but we need to consider the impact on a landlord of forfeiting a lease.
“I expect that the landlord will be wishing to avoid becoming liable for business rates on an empty property, and that liability would transfer from the tenant to them if they took possession of the premises.”
Challenges
Panther plc have told the Bedford Independent that they plan to split the ground floor of the property into five smaller units, something they’ve successfully completed at the former Beales store in St Neots.
“You can’t let old department stores any more; there isn’t a market for them,” said their spokesperson.
“We’ve got a good plan for breaking it up into smaller units, but that takes time, unfortunately, and it comes at a cost. It’s got to be a viable proposition.”
Read: All Beales stores to close on 19 March, say administrators
Read: Council and landlords collaborating to develop a plan for former Beales and Debenhams sites
Speaking about the closure of Beales stores throughout the country, Panther plc’s spokesperson said that the burden of business rates on the company was too much.
“The biggest thing that killed Beales was business rates,” they said. “High streets will continue to struggle until there is reform of the rates system.”
This point was reiterated by Catherine. “We need a national conversation about business rates if we want town centre regeneration,” she said.
Business rate reform
It is a common misconception that the council sets business rates. They are set nationally and are based on the valuation of the property. Property valuations are assessed every three years, and the next reevaluation will take place in 2026.
There will be a business rates announcement at the Autumn Budget on 25 November, and the government has said it is committed to reforming business rates, with lower rates for Retail, Hospitality and Leisure (RHL) properties.
“Transforming the business rates system is a multi-year process, with a need for ongoing reform,” reads a statement on the gov.uk website.
“The government will consider reforms beyond Autumn Budget 2025, and any reforms taken forward will be phased over the course of the Parliament.”
Bedford Borough Council owns a small section of the former Beales site, which is leased to Panther plc.
Referring to the parlous state of the exterior of the building, a council spokesperson said: “The Council has raised the vacancy and current condition of the building with Panther plc; however, the Council is not involved in Panther’s arrangement with their tenants.”
