Small Town. Big Ideas.

From empty to essential - we unlock the potential of stranded buildings to create commercial, cultural and social value in small towns across the UK.

What is a stranded asset?
Learn more about how long-term vacant buildings become stranded — and how we bring them back to life.

Small towns are full of promise - and full of buildings that have lost their purpose. Stranded assets like empty market halls, former libraries, old theatres, vacant shops, bus stations, ex-department stores, or council-owned heritage buildings often sit unused due to a lack of funding, a defined vision, or a future operator.

At Next Phase, we see beyond the dust, dirt and dilapidation. Working in collaboration with our creative partners, Group Ginger, we help transform these overlooked buildings into community-led assets:

• Market halls

• Food halls

• Spaces for makers and creatives

• Flexible hubs for activity and enterprise

• Places of learning

• Affordable spaces for local groups and community activity

These aren’t off-the-shelf solutions. Every concept is tailored to the place, the people, and the building itself, however awkward, complex, or unusual the site may be.

Our Approach

We understand the unique viability challenges small towns face, from financially stretched councils to cautious funders. We bring creativity, commercial realism, and community focus into one streamlined process:

• Site identification and early-stage concepts

• Viability modelling, Green Book business cases, and funding strategy (including CIC models)

• Stakeholder and community engagement

• Creative spatial planning and design input

• Operational viability planning

• Long-term governance and business case development

• Support in securing funding

• Operator sourcing and implementation planning

With our team’s help, councils and partners have secured investment from sources such as the UK Shared Prosperity Fund, Community Ownership Fund, Arts Council, and the National Lottery Heritage Fund.

Why It Works

By aligning public benefit with place-based strategy, we create assets that last. Our projects deliver:

• Health and wellbeing outcomes – through access to creative, social and cultural activity

• Inclusive growth – empowering local creatives and social enterprises

• Zero carbon principles – by reusing existing structures and preserving embodied carbon

• Increased footfall – bringing people back into town centres

• Local pride – through community ownership and place-led programming

When Commercial return Isn’t the primary driver: Realising Community-Led Reuse

When commercial viability is limited, we help create sustainable community-led models. Many of our projects result in the formation of a Community Interest Company (CIC) or similar social enterprise - structures that enable long-term governance, funding access, and community benefit.

Our team supports this process every step of the way, building the board, recruiting the team, and developing the operational strategy to ensure the new venture is a capable, independent tenant or operator.

Ideal For

• Town councils and regeneration leads

• Community groups with vision

• Property-owning charities

• Local cultural or enterprise partnerships