Princes Street shopping: 'The street is not performing as it should'

FIGURES published today on footfall on Princes Street reflect the continuing downward spiral in the status of Edinburgh's main thoroughfare as a shopping destination.

It must be of concern that it now ranks as the least busiest main shopping thoroughfare of any UK city – even taking into account that Edinburgh is smaller than many of its rivals.

Although the council has attempted to put an upbeat spin on the fact that the street attracts around an average of 270,000 visitors a week, they are candid enough to admit that Princes Street is not performing as it should. But they cannot be held accountable for it tumbling down the UK rankings as numerous plans for its regeneration over the years have foundered as successive administrations failed to come to grips with the problems which have contributed to its steady decline.

Due to multiple ownership of most of the blocks it has been difficult to reach a consensus with owners on the way forward – a factor which also led to considerable delays in reaching agreement on an appropriate development for the Cowgate fire site.

As the scenario where rich investors from the Middle East would follow up their interest in buying the entire street remains unlikely, the onus remains firmly on the council to take the lead and kick-start redevelopment.

They should have two factors in their favour that previous administrations did not enjoy – the area should be granted Business Improvement District status if, as expected, the 570 eligible traders vote for it and the long-awaited revamp of the St James Centre should act as a catalyst to force Princes Street owners to re-think their future plans for their properties.

But it is clear that nothing will happen overnight and the impending trams work will presumably see Princes Street effectively off-limits to major development for far more than the seven months it will be closed next year. This could provide further breathing space to come up with satisfactory solutions, even if regeneration only takes place one block at a time. Footfall will inevitably suffer when the contractors move in and it becomes a giant building site, but how it recovers will be the real test.

Talk of theatre being introduced as a magnet to attract shoppers may help add to the atmosphere but Princes Street's flagging fortunes will not be revived until there is a far clearer focus on what it hopes to be. Entertainment might not be such a bad option if St James, John Lewis and Harvey Nicks can provide real competition with Glasgow and Livingston.