Commercial Property News

Retail sales during January were at their worst for 15 years, according to the latest Retail Sales Monitor from the British Retail Consortium (BRC) and KPMG.

According to statistics in the report, companies using business property to sell homeware and furniture will have found the month especially hard, as sales in both of these categories declined over the course of the month.

In total, transaction values were down 0.7% on a month-on-month basis, despite the fact that food sales were up in the opening week as shoppers looked to stock up on essentials during the snowy weather.

Stephen Robertson, director-general of the BRC, described the figures as "an awful start to the year", adding: "The month as a whole was significantly weaker than December."

He commented that retailers will be hoping the results are not indicative of a decline in spending.

One firm looking to expand in the sector is H&M, as Property Week recently reported that it is the frontrunner to take a commercial property space in Islington, London, which was formerly a Borders store.