Weekly Market Update #4
Last week's surprise drop of 0.1% in UK GDP probably came as no surprise to anyone who runs a business and knew that delaying the budget would just mean many (larger) companies putting off their business decisions.
However, that is not the case with many firms I speak to and there are several looking for new space at the moment. With supply still relatively restricted, this means commercial rents are generally increasing - useful to help pay the extra 2% levy on property income being introduced from April '27.
Current requirements include (but not exclusive to):
3 - 4,000 sq.ft storage premises within 8 miles of Potters Bar for high end car sales (visits by appointment only and no repair/mechanical work). An unfulfilled requirement.
C4,500 sq.ft workshop within 15 miles of Royston for well established metal spinners (no outdoor space required).
1,000 sq.ft workshop for specialist wheel refurbishment company - as close to M25 as possible.
Last weeks enquiry rates and sentiment level:
Average of 2 enquiries a day - great for this time of year.
Sentiment level - good. SMEs are working harder to pay their ever increasing tax bills!
Recent letting/re-letting of note:
High end joiners/house refurbishers - some people still have money to spend on nice things.
If you have any space that you think could suit the requirements above, or just to find out more, please don't hesitate to get in touch.