High Street Rental Auctions aim to tackle empty properties and revitalise town centres through council interventionSource: ShutterstockAccording to the government, one in seven high street properties currently stands vacantCouncils will be granted new legal powers from 2 December to auction leases for long-vacant high street properties, as part of measures introduced under the Levelling Up and Regeneration Act 2023. The initiative, termed High Street Rental Auctions (HSRAs), is intended to address the persistent problem of empty commercial premises in city, town, and village centres.Under the new regulations, local authorities can intervene if properties have been vacant for more than 365 days within a two-year period. The initiative aims to bring these spaces back into use by auctioning leases for one to five years, making them accessible to businesses and community organisations.Local Growth Minister Alex Norris said the powers will put local communities first and help reinvigorate struggling town centres. High streets are the beating heart of our communities. But for too long, too many have been neglected, with more and more empty lots and boarded-up shopfronts, he stated.According to the government, one in seven high street properties currently stands vacant, and HSRAs are seen as a means of countering this trend.The government will highlight the initiative at an HSRA showcase event today in Wolverhampton. The event will feature insights from early adopter councils, which are tasked with piloting the scheme and providing best practice guidance for other authorities.