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Retail market buoyant

28th July 2004 | back to article listings BACK    print this article PRINT

Spiralling demand for retail properties is far exceeding available supply, according to industry experts.

A report by business surveyor Christie & Co says the soaring demand has led to price increases, with retail property prices rising by 18.4 per cent in the last year.

Tony Evans, head of retail at Christie & Co, believes the substantial discrepancy between demand for buyers and the number of properties for sale is likely to see an ongoing rise in retail prices.

He said: "We should see high prices for good businesses stay with us for the time being.

"However, it is unlikely that this situation will last forever - firstly, given the actual and expected increase in interest rates, making borrowing money to fund acquisitions more costly over a period of time; and secondly, the bigger the repayments the smaller the profit margin.

He said that "as a result, now is an excellent time to sell a retail business".

Mr Evans said the convenience store sector remains in high demand, with established retailers looking to expand their portfolio.

He added: "Independent operators have found there are plenty of areas where they can establish strong local businesses, such as neighbourhood parades.

"However, we suspect that it will not be long before the supermarkets drop both their size and their demographic profile to bring even the smallest neighbourhood centre into their sights."

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