Research released this month reveals that UK consumer confidence is peaking at a three year high. Many of the UK’s retailers are already basking in the glow of a successful summer trading season, boosted by the scorching weather. And for the autumn, there are numerous indications that the economy is on an upward path. Commercial property specialists Pearl & Coutts say they’ve had steady interest in shops to let despite many previous months of gloomy headlines. The company are not expecting demand to reduce but warned retailers will still need to search carefully for the right deal on any shop to rent.
The national media has reported research demonstrating that consumer confidence is at its highest level for some three years now. This has been attributed to all manner of reasons, ranging from the weather to current affairs. Pundits have suggested contributing ‘feel good factors’ from the UK’s success in sport over the summer months to the arrival of the Royal Baby. The retail surge enjoyed by many shop keepers has also been put down simply to good weather. It has been suggested that the sunny days have brought a new mood of spontaneity across the nation, in contrast to a previous more ‘austerity based’ mindset of carefully planned purchases as the rule. Whatever the reasons, GDP had already increased by 0.7% during the second quarter. If trends continue, more shoppers will feel positive about the economic outlook by the crucial Christmas trading period than those who will not. Consumer research also showed that over half of UK families surveyed expected house prices to rise over the next 12 months. The Confederation of British Industry is reporting an improvement in the ‘optimism levels’ of UK small and medium-sized manufacturers. Their research showed that these respondents were also expecting demand to rise over the coming few months. Organisations like the EEF representing UK manufacturing have now increased their forecasts for growth for 2013. Then the Institute of Chartered Accountants has been quoted in the press as predicting growth may reach 1% next quarter. And the number of companies now confident about economic recovery has doubled in size according to surveys from within the insurance industry.
Commercial property specialists Pearl & Coutts cautioned would be retailers and those looking to relocate or expand their retail unit to still seek reliable expert advice. Although the coming months look to bring better trading conditions, the location and amenities around each potential retail premises remain vitally important.
“We can match retailers to a suitable a shop in many UK locations now, as well as London. The key is to take the time to talk to our clients and find out exactly what kind of business they want to be running in a year’s time - and sometimes what kind of business they are operating now. We can talk to them about what is around the location, for example, what are they near for extra passing trade when the weather picks up? What are their advantages for the Christmas season? We help them to avoid paying for a shop which has an uncompetitive rent but offers little in the way of trading benefits”
To find out more about Pearl & Coutts commercial property services for UK retailers, speak to their team on +44 (0) 20 7843 3788.
Their available shops to rent can be browsed online across the UK at http://www.pearl-coutts.co.uk/
