Retail property in the spotlight

It’s RECON week (Global Retail Real Estate Convention), and whilst we’re not in Las Vegas (yes, it’s being held in the hub of glitz and money) we thought we’d talk about Retail.

It’s a nice change to read on the EGI blog positive news from RECON – talk of growth and investment, something that the retail sector radically needs. There is  no denying that the high streets and shopping centres are still facing the dark depths of the recession, yet it feels like there is change afoot.

Only recently did we start to notice vacant signs in local towns being replaced with retailer hoardings and ‘coming soon’ boards. It’s a refreshing scene and hope that the market is in recovery mode.

There is however the fundamental need for retailers to look at how they sell. The demise of stores like HMV are a stark reminder of the changing face of retail. Whilst consumers will continue to shop online, retailers need to review the number of stores and retail space, and at the same time, ensure that their current and future stores are engaging places that people want to visit.

Retailers can not solely rely on either having just a shop front, or just online. We are also seeing online retailers demanding retail units and consumers are part of this demand – not everyone wants to shop over the net, so there is hope across the board.

Whether you need help with selling your retail space, want advice on ‘change of use’, or looking to invest in an area – talk to our team, call us on 0845 680 5357 or email us enquiries@nationalpropertyconsultants.co.uk.

If you want to read more from the EGI retail blog – click here