14 June 2019
Having just completed my quarterly review, I thought I’d share it here.
In spite of the various challenges facing the UK economy, the commercial property market remains steady with an encouraging number of enquiries. Lack of stock is the biggest problem we face. The industrial property sector continues to be very buoyant with strong demand particularly for freeholds. As for the office market, the loss of premises to residential, through permitted development, is making some local office enquiries difficult to satisfy. The pressures on the high street are well documented in the media and whilst the large multiples have gone very quiet there is still an appetite for premises from local independent retailers. Landlords should collaborate with these smaller tenants in an effort to keep the retail sector successful. The same goes for planning authorities who should allow greater greater fluidity in their change of use consents. The health and well being market continues to grow with more gyms, yoga studios and pilates studios etc opening. This also helps the town centres to evolve.