Independent Chartered Surveyors &
Commercial Property Agency

Regulated by RICS

Yorkshire sees retail rents rise for first time in 10 years

Written by: Andrew Idle

18/07/2016 15:30

This study, recently published in the Yorkshire Post, makes for interesting reading. The results are very patchy, with the City of York leading the revival followed by Scarborough, Whitby, Leeds and Sheffield.

Apart from being a popular student and tourist centre, York is centrally located for commerce, in addition to having no major competing retailing centres geographically nearby. Some of these locational factors are also true of the North Yorkshire coast; and it may well be that some holidaymakers have chosen to stay in the UK with the aftermath of Brexit, the declining value of the pound, concerns about terrorism and superbugs. Equally some visitors to the UK from overseas will have recently benefitted from the weakness in sterling against their own currencies.

It is a pity that our weather is so unpredictable, but without all the rainfall our countryside would not be as verdant as it is!

Other Centres in the Colliers International study just remained stable whilst some such as Keighley and Rotherham lost ground.

Andrew Idle Associates have just re-let a long-vacant retail unit in Castleford. The new occupier, who are selling discounted sofas based upon a model already tried and tested elsewhere, report a good start to sales there.

Andrew Idle Associates also let two retail units in central Bradford, one of which had been vacant for over two years. One unit was let as a hot food takeaway run by a former chef at a well-known Indian restaurant; the other sell nutritional aids.

Andrew Idle