Director Tom Holloway and
Associate Director Craig Powell of Holloway Iliffe & Mitchell have been
quoted in the latest issue of the RICS UK Commercial Market Survey (Q4 2012).
This publication is widely read by commercial property investors and occupiers
looking to gain an insight into the regional views of RICS Commercial Property
Chartered Surveyors in their local region.
Tom Holloway, Holloway Iliffe
& Mitchell (Portsmouth) said:
“Landlords who have previously let space at low rates are now becoming less flexible, particularly where these deals will have a negative impact on estates with rent reviews and lease renewals looming!”
“Landlords are starting to take a
firmer line with tenants, particularly on multi let estates. Accepting low
rents and flexible terms are now becoming less desirable as the impact on the
overall investment value is becoming more important than just getting space
let.”
Craig Powell BSc (Hons) MRICS, Holloway
Iliffe & Mitchell commented:
“As many retailers with high
street stores expand their online presence prime retail tenants paying turnover
rents are keen to ensure landlords only benefit from the slice of turnover
generated by their bricks and mortar stores. Xmas 2012 was another record for
online sales and landlords have to consider rent payment terms to incentivise
larger retailers to retain their existing number and size of stores instead of
moving to smaller formats that simply allow customers to collect online
purchases.”
To request a copy of the latest RICS UK Commercial
Market Survey please contact us.
