The retail sector of the property market is faced with the challenge of evolving as quickly as the shift to e-commerce. Weakening demand and increasing costs has pushed many retailers to close stores and rationalise their estates.
We work for owners, occupiers, investors, and funders, providing technical due diligence, dilapidations, and project management. We pride ourselves on both the quality and speed of our service and are acutely aware of the need to minimise void periods for our landlord clients and get the wheels of business turning for our tenant clients.
Within the retail sector, we have provided services for the following industries asset types;
- Shopping centres
- Retail parks
- High-street shops
- Car parks
- Pop-up shops
- Education
The high street has been devastated in recent years by online platforms and the covid-19 pandemic. Whilst the customer experience of physically sampling products in person will remain integral to many retailers’ strategies, there has been a fundamental change in the amount of space retailers are prepared to take, opting for a ‘sample selection’ of stock as opposed to an entire range. The challenge for retailers is to rationalise their estates back to essential space only. The challenge for owners of retail properties is to convert surplus space into a use that will compliment retail. This has accelerated a change of use trend from retail to hospitality/leisure and residential.Daniel Leaf – Director