Best spots to buy retail space revealed | 23 March 2012
The London districts of Lewisham, Wood Green, Uxbridge and Harrow have been named amongst the top five regions to invest in retail space.
In a survey compiled by property consultants BNP Paribas Real Estate, the four regions were cited as areas where the highest proportion of retailers are currently succeeding, as was Truro in Cornwall.
These areas, along with others which ranked well in a survey of 100 British regions, were described as being “not oversupplied with retail space” and having “affluent catchment areas.”
According to The Financial Times, eight out of the ten areas most at risk of store closure were based in northern England and the Midlands. Bradford and Derby were named as the most high-risk areas to open a shop. Retail space in Southampton, Wolverhampton and Hull was also identified as a risk purchase.
Many key figures in the commercial property sector have claimed they are willing to lend a helping hand to struggling retailers in order to help kickstart the economy.
Reacting to the figures, Legal & General Property research analyst Tom Carlton told Reuters: “A lot of retailers are under pressure at the moment.
“We are having regular conversations with retailers that may be struggling to make sure we can be flexible. They may want a rent reduction or some slightly lenient terms with their lease structures.”
Written by Joe Elvin on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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