The recent press article in the Yorkshire Post, charting the pent-up demand for industrial accommodation contrasting with the decline in demand for retail premises, is not surprising to read.
There is a well-known shortage of industrial premises in and around Bradford, both for smaller and larger sized units. Increasingly, we at Andrew idle Associates are finding that firms are having to compromise on location to obtain something that meets their requirements.
Operating within a huge conurbation whose road infrastructure is lacking, journey times are an important factor in locating premises in relation to where various key staff in the business live.
Andrew Idle Associates are currently marketing industrial premises to let in parts of Bradford and are experiencing high levels of interest. This even applies to those that are split over two floors and amount to tens of thousands of square feet – one or two viewings per month is now becoming quite usual.
The retail situation is a phenomenon which isn’t peculiar to West Yorkshire. It is well covered in economic commentaries that, since Brexit, import prices have risen substantially in some cases and it is costing more for the majority of people to buy basic provisions than it was two years ago, whilst wages have not kept pace with this factor.
There is also the continued growth in online shopping. Some consumers will now view an item they are interested in at a traditional store and then go away and buy it on Amazon for a lot less.