News Page 5

Commercial Property News Posts


Brexit Could Push UK back into Recession Warns Alistair Darling

Posted on May 19, 2016 4:37 pm by Chris Grigorovsky under Business News, Economy

Former Labour Chancellor, Alistair Darling, has said that if the UK were to leave the EU, it would have a negative impact on the economy and be “disastrous” for living standards of working people. At a dinner of the CBI, Mr Darling said in a speech: “Recent experience and historic evidence shows that when our economy suffers this... Read More


Are Shop Amalgamations the Saviour of Retail?

Posted on May 18, 2016 4:16 pm by Chris Grigorovsky under Business News, Economy

The retail sector has experienced its share of fall backs over the past month. One of the most prominent establishments on the UK high street, BHS, received a major blow after it entered into administration at the end of April. This was then followed by menswear brand Austin Reed just a few days later. It was a shock to consumers everywhere... Read More

Vacant Retail Unit

West Midlands One of Biggest Sufferers of Empty Shops

Posted on May 18, 2016 11:23 am by Chris Grigorovsky under Business News, Economy

New figures from the Local Data Company (LDC) have found that the West Midlands is still one of the worst affected regions in England for empty shops. The region currently has three towns in the top 10 list of areas with the highest percentage of empty shops over the last three years. The worst performing town in the region was... Read More


Over 800 HSBC Jobs Cut as Birmingham Move Gets Ever Closer

Posted on May 17, 2016 10:43 am by Chris Grigorovsky under Business News, Economy

With HSBC set to make Birmingham the home of its UK retail services, it has since begun laying off 840 of its IT staff. The first phase of restructuring, which aims to cut 8,000 jobs in the UK by the end of 2017, will see Sheffield suffer the most, with 595 job losses expected. London and Birmingham will also see jobs cut. The... Read More


Is Cambridge the Right Place for your Business?

Posted on May 16, 2016 4:20 pm by Chris Grigorovsky under Business News, Economy

Summer is upon us. A wondrous time where, for five minutes a year, Britons everywhere are exposed to that yellow warm ball in the sky. The mood of the nation is lifted, which is the perfect time to be productive and make a change. For businesses looking to relocate, this is definitely the case. Right at this moment you may be currently... Read More


North West Experiences Successful Office Take-Up in Q1 2016

Posted on May 16, 2016 10:46 am by Chris Grigorovsky under Commercial Sales and Lets, Industry News

The North West office market has seen a stellar start to the year, with Liverpool and Manchester experiencing strong levels of take-up in Q1, according to a report from Bilfinger GVA. It was found that Liverpool’s office take-up surpassed 90,000 sq ft in the first quarter, overtaking the five-year quarterly average of 80,000 sq... Read More

Rural Areas Suffered Most from Bank Branch Closures

Rural Areas Suffered Most from Bank Branch Closures

Posted on May 13, 2016 2:41 pm by Chris Grigorovsky under Business News, Economy

Figures found by the BBC have revealed that over 600 bank branches across Britain in the past year have seen closures, with rural areas being the most affected. It was found that parts of Scotland, Wales and South West England, between April 2015 and April 2016, lost the most per population. Wales suffered the most bank loses, with... Read More

BHS a Victim of Delayed Business Rates Revaluation says Colliers

Posted on May 12, 2016 11:26 am by Chris Grigorovsky under Business News, Economy

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

Is the South East Office Market Looking Strong in 2016?

Posted on May 11, 2016 11:00 am by Chris Grigorovsky under Economy, Industry News

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

Over Third of SMEs Unsure of Interest Rates their Business Receives

Posted on May 10, 2016 4:54 pm by Chris Grigorovsky under Business News

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

St Modwen Sells Birmingham Office Trio for £7.3m

Posted on May 9, 2016 3:05 pm by Chris Grigorovsky under Commercial Sales and Lets, Industry News

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

UK High Street Takes Biggest Hit in April Since 2008

Posted on May 6, 2016 4:56 pm by Chris Grigorovsky under Business News, Economy

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

How did the Manchester and Birmingham Office Markets Perform in Q1 2016?

Posted on May 5, 2016 4:18 pm by Chris Grigorovsky under Commercial Sales and Lets, Industry News

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

Savills - Duff & Phelps

Savills Appointed Advisor for BHS Portfolio

Posted on May 4, 2016 4:03 pm by Chris Grigorovsky under Business News, Economy

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

Manchester Shopping

Regional High Street Investment Down in Q1 2016 but Outlook Still Positive

Posted on May 4, 2016 12:40 pm by Chris Grigorovsky under Business News, Economy, Industry News

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


Overseas Commercial Property Investors taking Advantage of Brexit

Posted on May 3, 2016 10:19 am by Chris Grigorovsky under Business News, Economy, Industry News

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


Are Signs of Improved Rental Growth Starting to Emerge?

Posted on April 29, 2016 2:27 pm by Chris Grigorovsky under Industry News

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

EU - Leave or Stay?

Top Economists Back Brexit

Posted on April 28, 2016 4:11 pm by Chris Grigorovsky under Economy

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


London Office Occupiers will Head out to Regions in Next Decade

Posted on April 27, 2016 10:38 am by Chris Grigorovsky under Business News, Industry News

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

Retail Warehouse

UK Retail Warehouse Market sees Better Occupier Demand

Posted on April 26, 2016 10:53 am by Chris Grigorovsky under Industry News

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


BHS Files for Administration

Posted on April 25, 2016 4:33 pm by Chris Grigorovsky under Business News, Economy

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


Judgement Day Awaits BHS Today

Posted on April 25, 2016 11:09 am by Chris Grigorovsky under Business News, Economy, Industry News

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