Struggling high street retailer BHS was on the cusp of receiving millions of pounds of business rates cuts, which would have resulted in a saving of over £15m if the revaluation went ahead in 2015, according to Colliers International. Currently, business rates are recalculated every five years, with the last revaluation taking place... Read More
The first quarter of 2016 was a great one for the South East office market, which saw its total take-up increase by 30%, according to Knight Frank’s latest M25 offices report. It was found that 973,000 sq ft of space was let during this period, 10% above the ten-year average. This has resulted in the overall supply being at an... Read More
A new study from Aldermore has found that 34% of small and medium-sized enterprises are unaware of what interest rate their business is receiving in surplus funds. The survey, which more than 1,000 British SMEs took part in, found that 55% aren’t reviewing savings regularly, which is lower than the 62% last year. Also found was... Read More
A collection of three Birmingham offices has been sold by St Modwen to an unnamed UK fund manager for £7.3 million. Situated on the St Modwen owned 18-acre Quinton Business Park, the self-contained offices total more than 50,000 sq ft. Senior development surveyor at St Modwen, Peter Rudd, commented: “The strong investor market,... Read More
As long standing retailers BHS and Austin Reed entered into administration, the UK high street experienced its worst month since November 2008, according to BDO. High street retailers recorded a 6.1% fall year-on-year in April, with the fashion sector seeing a 9.2% drop on last year. Sales for lifestyle goods grew by 16.4%, while... Read More
Q1 2016 has seen a strong start for both Birmingham and Manchester office markets, with a healthy level of activity, according to data from Colliers International. Since 2015 saw Birmingham city experience record annual take-up of 970,458 sq ft, this year it has achieved the busiest ever first quarter, with take up reaching 283,697 sq... Read More
One week after entering into administration, BHS’ administrators have appointed Savills to help with its portfolio. The administrators, Duff & Phelps, are currently attempting to find a buyer for the struggling high street retailer, with concerns for its future still hanging in the balance. However, analysts are predicting that... Read More
New figures from Cushman & Wakefield have revealed investment in UK regional high street retail assets was down by 10% on last year. This however has not tarnished overall performance of the sector in Q1, as a total of 44 assets were transacted at a combined amount of £255m. The firm said it has exceeded expectations and Brexit fears... Read More
With the pending EU referendum causing concern in the London commercial property market, private investors from the Middle East and elsewhere have found an ideal opportunity to buy landmark buildings. One firm for example, 3 Associates, is a UK family office that in the coming months is looking to deploy £500m, which combines its own... Read More
A combination of improved letting activity and taking surplus stock out to market has started to show signs of rental growth in some locations and sectors, according to commercial property agent, Prop-Search. One of the main factors to these findings is savvy landlords being on the back of increasing economic confidence, contemplating... Read More
Following several warnings from organisations about the UK leaving the EU, including IMF and OECD, a collection of eight influential economists who are in support of the Brexit, have claimed that the economy would be better off, with a boost of 4%. This is the first time that the group, known as Economists for Brexit, have publicly... Read More
With the ever increasing cost of commercial property in Central London, a trend of office occupiers within the capital moving out to other major cities will start happening over the next decade, according to new research by Lambert Smith Hampton. LSH’s 2016 edition of the annual Office Market Report highlights the substantial... Read More
Better occupier demand in UK retail warehouses has resulted in the lowest level of vacant space on UK retail parks since 2006, according to a report by Colliers International. The Heading out of Town report found that investment volumes in retail warehousing surpassed £4bn last year, due to level of transactions returning to... Read More
High Street Retailer British Home Stores has had "no alternative" and officially gone into administration following a struggle with £1.3bn worth of debts. For 88 years, the department store has been a mainstay in UK high streets but now it faces a wealth of uncertainty after it failed to find a buyer, putting 11,000 jobs at risk... Read More
Iconic high street retailer BHS is facing uncertainty today, as the store could be filing for administration due to £1.3bn of debt and a stand-off between its owner and the biggest lender. The store’s original majority stakeholder and owner of Topshop, Sir Philip Green, sold it to current owner Dominic Chappell. Mr Chappell acquired... Read More
The EU referendum has been a hot topic this week, with many industry experts presenting research that shows how the uncertainty is affecting the current commercial property market. We have been delving into a report produced by Savills which forecasts how it will see the commercial and rural change post referendum. If you haven’t already,... Read More
A possible Brexit continues to cause uncertainty as investment in UK commercial property saw a significant slowdown in the first quarter of 2016, according to new research from Lambert Smith Hampton. Its latest quarterly UK Investment Trends report has revealed a total of £11.7 billion of investment during Q1 2016, which is 27% down... Read More
This week, Chancellor George Osborne warned of a ‘permanently poorer’ UK if it were to leave the EU, with Treasury analysis saying that by 2030, UK national income could be 6% smaller. Debates are ongoing, trying to convince the nation why we should either stay or leave. Some say we'll be better off out of the EU, while others see a... Read More
Brexit uncertainty has once again caused concern in the commercial property market, as Newcastle saw its occupier market slowdown in Q1 2016 and leasing activity fall dramatically, Lambert Smith Hampton research reveals. The firms latest Newcastle Office Market Pulse has shown that occupier deals in the city’s central office market... Read More
As uncertainty of Brexit’s impact on demand in the market, CBRE has reported that during the “traditionally quiet” first quarter of 2016, demand for office space in London remained robust, with 3.1 million sq ft of offices being taken up by companies. The 3.1 million sq ft is below the 10-year average of £3.2 million, however... Read More
Relocating your business can be an arduous task. The uncertainty of what area is right for you can hold back the process significantly. If you're still undecided, have you ever considered relocating to the Greater Manchester area? Here are five key areas to think about. Major Areas 1. City of Manchester Population – 2.5... Read More
A £10 billion lending fund has been launched by HSBC which is set to help UK small and medium sized enterprises. The fund, which forms part of a broader plan to make banking cheaper and simple for customers, is the largest package of support to be announced by HSBC for UK SMEs. This is set to ensure ambitious companies in England,... Read More
