Embedding heritage-led regeneration within wider investment programmes aimed at revitalising high streets and enhancing local and regional infrastructure, will more effectively drive the growth and renewal of Britain’s historic town centres, according to a new report from national planning and development consultancy, Lichfields.

The ‘Historic Opportunities’ report comes at a time of changing fortunes for the nation’s historic towns and sheds light on the environmental, economic and social contributions that heritage-led regeneration can deliver long-term for hundreds of locations across the country.

It considers how long-term thinking and a holistic approach to regeneration are keys to success, recognising that the most effective way to plan for strong and vibrant future high streets and town centres is through projects focused ‘more than ever’ on repurposing heritage assets in ambitious and creative ways to meet society’s changing needs.

The report builds on the themes contained in Lichfields ‘Moving on Up?’ report, which analysed over 100 bids for three key funding streams aimed at delivering town centre regeneration: the £3.6bn Towns Fund, the £1bn Future High Streets Fund (of which £95m is set aside for High Street Heritage Action Zones) and most recently the £4.8bn Levelling Up Fund.

The report states: ‘Perhaps the most obvious indication that investing in heritage makes financial sense is that people tend to spend more in the local economy following heritage-led regeneration projects. On average, for every £1 of public sector investment in heritage-led regeneration, £1.60 in additional economic activity is generated over a ten-year period.