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Commercial Property News
Recession may have held back retail property developments
Retail property developments may have been halted by the recession, but trading could be set to improve.
This is the conclusion of Professor Joshua Bamfield, director at the Centre for Retail Research, who says the sentiment in the market seems to have altered recently.
He explains retail developments have struggled over the past few years, at the same time as the UK's economy ground to a halt.
But lately the attitude has changed and Professor Bamfield states: "All sorts of retailers who have got it in their plans to come to the UK or to develop within the UK have said, 'we've got to get cracking now'."
This means there may not be many sites available for property developments, which is partly due to the country's planning laws, he adds.
Recently the British Retail Consortium-Bond Pearce Retail Employment Monitor found there had been a rise in employment in retail during the second quarter of 2010.
It is thought this was partly driven by a rise in the number of retail outlets, which climbed by 486 since the same period a year earlier.
Posted by James Collins
This is the conclusion of Professor Joshua Bamfield, director at the Centre for Retail Research, who says the sentiment in the market seems to have altered recently.
He explains retail developments have struggled over the past few years, at the same time as the UK's economy ground to a halt.
But lately the attitude has changed and Professor Bamfield states: "All sorts of retailers who have got it in their plans to come to the UK or to develop within the UK have said, 'we've got to get cracking now'."
This means there may not be many sites available for property developments, which is partly due to the country's planning laws, he adds.
Recently the British Retail Consortium-Bond Pearce Retail Employment Monitor found there had been a rise in employment in retail during the second quarter of 2010.
It is thought this was partly driven by a rise in the number of retail outlets, which climbed by 486 since the same period a year earlier.
Posted by James Collins
Mon, 16th Aug 2010