The government has launched its High Streets Strategy, Hope on the High Street, backed by a £210 million Community Assets Programme to support local communities in England to reimagine and revive struggling high streets with new shops, public services and community spaces.

The Community Assets Programme is made up of four separate funds:

Derelict Buildings Fund: a total of £125m is being allocated to 60 local authorities to transform prominent derelict buildings in their communities: Plymouth will receive £2.56m and Torbay will receive £1.32m. As well as bringing long-term vacant buildings back into productive use, the scheme aims to demonstrate how high streets can diversify by hosting a greater mix of uses.

Regional Co-operative Development Programme: £10m will support activity to double the size of the co-operative and mutuals sector. The Devon and Torbay Combined County Authority will be able to participate in this programme to create more co-operative businesses.

High Street Rental Auctions: £10m will support local authorities to accelerate and scale delivery of High Street Rental Auctions which helps to encourage landlords to find tenants for persistently-vacant commercial premises in town centres.

Community ownership funding: £65m will be used to provide opportunities to apply for money to support communities to take over buildings. There will be further information early in 2027.

Focus of fund/fund aims:

Funding to complement the High Streets Strategy and encourage the regeneration of town centres

Application deadline:

tbc

Fund description:

https://www.gov.uk/government/collections/community-assets-programme