海角视频

The market for empty shops in the South West鈥檚 well-heeled seaside towns is booming as businesses look to move out of London and profit from a potential 鈥渟taycation鈥� bonanza, a leading expert says.

Zach Maiden, senior surveyor in the Exeter office of property consultants Vickery Holman, said demand for small retail premises is growing in 鈥渁ffluent鈥� parts of Devon and Cornwall, as store bosses predict consumers will open their wallets post-lockdown.

He said roadside units are also being eagerly sought too, potentially for restaurants and takeaways, and predicts a shift towards more unusual independent stores as 鈥渂land鈥� chains struggle in towns and cities.

And despite the move towards online shopping and the problems caused to the retail sector by repeated pandemic lockdowns, Mr Maiden is confident the high street will 鈥渆volve鈥� and have a bright future.

Delivering a report to Vickery Holman鈥檚 Spring |Market Update, Mr Maiden said: 鈥淒espite the doom and gloom the retail market in the region has slowly but steadily started to recover since the initial shock and uncertainty of the outbreak of the global pandemic.

鈥淣aturally, there were signs of cracking in the lead-up but we are now seeing an acceleration of growth and activity in this market due to interesting opportunities that are presenting themselves.

鈥淭here is good demand for small retail units, especially 500-1,500sq ft in prominent positions in affluent towns, especially coastal in South Cornwall and Devon.

鈥淚n these coastal towns we are experiencing high demand for retail space due to a rising confidence and view that people will come out of the lockdown keen to spend their saved cash.鈥�

And and he added: 鈥淒emand from road-side occupiers especially food and drink, is accelerating. Takeaway food outlets such as Papa Johns and Domino鈥檚 Pizza are actually continuing to take space, especially in this sector which has had a surge in activity over the various national lockdowns.鈥�

He said some occupiers are concerned about staff and other costs, especially while shops remain closed, and that flexible leases with lengthy rent-free periods, are expected, though will reduce as the economy starts to recover.

But Mr Maiden predicted retail will 鈥渞eposition and reinvent itself鈥� and said: 鈥淭here will be more leisure and mixed use in the high street and towns and cities will need to diversify.

鈥淩egional towns will benefit from London fallout and retailers will be attracted by lower rents and better opportunities to take prominent space.

鈥淲e will see an invigorated and thriving retail scene that will create an experience for consumers, certainly an opportunity for value-added propositions from regional investors.

鈥淪taycations will promote regional towns and retail will recover well with more people choosing to holiday closer to home.鈥�

And he said independents are seen as a better bet than multiples, for property owners, and especially with the threat of CVAs for larger 鈥渂ut more bland鈥� retail brands.

鈥淔reehold space is actually highly desirable for owner-occupiers at this moment, looking to reinvest the capital into their businesses,鈥� he said. 鈥淚n such an uncertain market occupiers are looking to take control of their assets and avoid lease commitments and rental payments.

鈥淲e expect mixed uses which will increase footfall and complement existing businesses. High streets and shopping precincts are expected to evolve to include independents and less generic operators which will create a better consumer retail experience and really boost local economies in the region.

鈥淥verall we strongly believe the regional retail market will recover well and there will be good opportunities for smaller businesses to gain a prominent position on the high street or even just be able to upgrade their business premises.

We believe the requirements will come back strongly over the coming months and high streets will welcome new and exciting occupiers which will benefit the consumer retail experience. This is certainly a time to reinvent the sector and the wheels are already in motion.鈥�