Main Street’s evolution

By David Revagliatte
It started with a quick online search. I was trying to find where exactly my next meeting was on Main Street and turned to Google Street View to check the building’s exterior. I found the address easily enough, but what caught my attention wasn’t the office itself. It was the virtual street around it. I noticed that several shops visible in the digital snapshot had changed. Curious, I kept scrolling through the online streetscape, mentally comparing what I saw on screen with what I knew to be true today.

That brief detour online became a real walk down memory lane. As someone who is based on Main Street and spends a lot of time in the ‘heart of town’, it struck me how much Gibraltar’s high street has evolved, not in a nostalgic or negative way, but as a response to how we live, shop, and spend our time. Behind every change in signage or shopfront is a story of adaptation and sometimes reinvention.

DOWN THE RABBIT HOLE
To understand how far we’ve come, it’s useful to look back. In 2018, the Gibraltar Federation of Small Businesses commissioned a study of Main Street’s retail offer. The research gave a clear snapshot of what Main Street looked like at the time and how it was beginning to adapt.

The study found that 84 percent of all ground floor units along Main Street and its surrounding areas were in active use, with 64 percent occupied by retail shops and the remainder used by service providers, food and drink businesses, or standing vacant.

Of the 325 units surveyed:
• 45 percent were fashion, accessories or jewellery stores
• 12 percent were souvenir or gift shops
• 6 percent were health and beauty businesses
• 5 percent were convenience and food outlets

Just 1 percent were technology-related businesses.

While fashion and jewellery stores continued to dominate, other sectors were beginning to make their presence felt. Businesses offering services such as travel, legal, banking and property advice occupied a growing share of retail units. The report also noted the emergence of more experience-led outlets and the value of blending physical and online operations.
At the time, the GFSB made the case that Main Street was already showing signs of natural evolution, influenced by changing consumer habits, the rise of online shopping, and new expectations from tourists and locals alike. The questions its research raised about Main Street’s purpose, offering and identity are arguably even more pressing now, as we face a major shift that continues to shift and evolve.

LIFE SINCE 2018
If, like me, you’ve spent any time on Main Street over the last few years, you’ll have noticed some of the changes since 2018. Shops have come and gone, office signs have shifted, and the businesses that have stayed the course have had to adapt to a lot.

Brexit was the biggest turning point. Gibraltar left the EU with the UK, but the road since then has been anything but smooth. For years, local firms had to make decisions without knowing how things like cross-border trade or travel would work in the long run. Many quietly reworked how they brought in stock or delivered services, always watching for new rules.

The agreement announced in June 2025 brought a big sigh of relief. It gave us certainty at the border and put to rest fears about queues and checks. But it hasn’t solved everything. The finer details of the treaty are still being worked out, and businesses are keeping a close eye on what it will all mean day-to-day.

Then came the announcement of a new Treaty-linked transaction tax. The phased introduction of a 15 percent tax on goods presents a big shift for all those used to tax-free shopping. Shop owners are already thinking carefully about where they source their stock, and how they price competitively.

RETAIL OPPORTUNITY
Louis Montegriffo, MD at BMI Group Estate Agents sees opportunities for the retail sector. BMI’s latest Gibraltar Property Update reported growing interest from wealthy individuals and family offices in high-end homes linked to Gibraltar residency schemes like Category 2 and HEPPS. He also pointed out that financial thresholds applicable to residency routes like these could face changes. “I would imagine that the finance centre is already looking at changing thresholds. The value applicants would need to declare to be able to apply for residency in the Cat 2 or Hep status in Gibraltar will rise.”

Louis sees promise in the fact that more new, high-value residents will spend more time and money in Gibraltar. “We’re no longer a brass plating jurisdiction, far from it, these are individuals who are actually spending time in Gibraltar and therefore spending money, so I think the retail business model has a great deal of scope.”

MAIN STREET NEWCOMERS
It’ll be some time until we feel the impact of Treaty-linked changes, but one trend is definitely on the rise: the franchise model. Spanish sandwich chain Rodilla has already opened. Starbucks is on the way, with two branches expected. Over in Casemates, Häagen-Dazs has opened a shop and, in recent plans submitted to the DPC, Argentine empanada chain Las Muns may soon be opening new premises. On the non-food-related side of things, we have seen stores like MANGO build its Main Street footprint and medical clinics including Vithas and Spanish dental clinic Ferris y Enezari have taken spaces in Midtown.

For some, this brings welcome variety and new standards, while for others it raises questions about how our high street is changing and what role local businesses will play in the future.
James Barton from Barton Solutions recently introduced Oakberry Açaí to Gibraltar. A healthy fast food option with slick branding and global appeal, it’s already picked up a loyal customer base. “We’ve seen with the amount of regular local customers that people really needed this,” they said. “Now we have people who come every day. They have this for lunch, for dinner. There are gaps in the market, and franchises help us fill them.”

The shift isn’t just about taste. These franchises are bringing with them new levels of process and professionalism. “They offer a way of eating and ordering food that doesn’t really exist in Gibraltar at the moment,” said the operator. “Oakberry has very stringent procedures when it comes to food quality and hygiene. You can use self-ordering kiosks. It’s a very different experience.”

Evolution is normal. Shops will come and go. Surely a sign of a healthy shopping street is one that moves with trends and shopping habits? Before publishing, a quick review of the DPC’s Agenda for this week sees the review and discussion of a Main Street shop to a takeaway and an established department store’s plan to create a cafe within its shop floor. Promising signs that the future of shopping looks bright.

David Revagliatte is the Editor of Thrive, the GFSB’s magazine, and founder of Motion.gi. This article was first published in Thrive and is reproduced here with permission.