Growing small firms boost commercial market

We predict that the growing number of small firms being created or expanded is among the factors that will see the commercial property market performing solidly in the East Midlands over the next few years.

This predication comes after we have seen demand developing for smaller commercial and retail properties, buoyed by government assistance for small firms and start-ups including zero rates for small commercial properties.

We caught up with Kevin Skipworth, our head of commercial property, to find out his thoughts on it all:

"One hot spot for smaller commercial premises is Market Harborough where we recently received 40 enquiries for a shop unit to let on the town’s thriving High Street.

We could have let it ten or 15 times over. Around half the enquiries were from small businesses looking to relocate with the other half being new enterprises. We have also seen more than 50 enquiries from people wanting to take on a café in Welland Park, Market Harborough, which we are marketing on behalf of Harborough District council. Some of that demand is down to the popularity of Market Harborough, but a big part of it is the number of businesses that are setting up or growing,” 

"Another trend in the regional market is a shortage of industrial warehouse space.
There is a lot of demand for freehold premises in this area of the commercial market but there is either no supply or poor quality. Unlike some areas of the property market, finance is not an issue because banks like lending to owner occupiers of industrial warehouses. In retail, I doubt property values in the provinces will recover to pre-crash levels in the foreseeable future, but I expect the beleaguered giants of the shopping world to bounce back. Supermarkets will have their day again, no doubt!"

If you have a business that you feel might benefit from our commercial property expertise, why not get in touch! It could be just the kick-start your business needs.