A historic town on Wales’ west coast which features a stunning promenade and beautiful scenery, is crippling under the pressure of high business rates and low footfall. Aberystwyth, a thriving seaside town in the summer may be one of the most isolated places in the UK, but it is one of the biggest towns in mid-Wales and home to the University of Aberystwyth, Aberystwyth Arts Centre and Bronglais Hospital.
Dating back to 700 BC, this windswept Welsh wonder boasts an array of scenic walks and is home to the most pubs per square mile in the UK with around 53. It’s tucked between hills and beaches, right in the middle of the Ceredigion coast. Renowned for its Victorian and Edwardian architecture and fresh ocean air, Aberystwyth, while a charming town, is not considered a particularly wealthy area.
The sun shining off the sea contrasts the bleak mood along Aberystwyth’s high street where retailers grapple with increasingly high business rates and low footfall.
Business rates tax non-domestic properties, including shops, pubs and offices.
The cost per square metre in Aberystwyth is currently higher than the main shopping streets in the Welsh capital Cardiff and Swansea.
Aberystwyth mayor Cllr Maldwyn Pryse said that work was undertaken to understand the issues for town centre businesses as the number of empty shops on Aberystwyth’s high street is “worrying.”
Cllr Pryse hopes to get “an explanation over the high charges in Aberystwyth”.
Lotti Riggs, who opened her store three years ago, told ITV News her taxbills comes to a staggering “£700 each month”.
Meanwhile Madeline White, whose family has been in business here for 66 years, the high rates are “eating the profit for everybody”.
She added: “You get visitors coming in and saying that the streets are dirtier. If we’re paying these rents the streets should be spotless.”
The Valuation Office Agency (VOA) said it valued properties in line with the legislation set by the Welsh government, and this differs from location to location.
The Welsh government said it is providing £130m of extra support.
The Welsh government added: “We recognise the pressures faced by businesses in Wales and are providing more than £130m of additional non-domestic rates support this year. We have also announced a further £85m of additional support for next year.
“This comes on top of our permanent reliefs for businesses worth £250m annually.”
