Halfway through February and our Hertfordshire Agency team reports a significant interest in not only industrial but retail premises across the county.
Halfway through February and our Hertfordshire Agency team reports a significant interest in not only industrial but retail premises across the county.The retail market in certain areas and towns in Hertfordshire continues to go from strength to strength. Our team reports that it is second only to the industrial market in terms of activity and enquiries from potential occupiers.
The vacancy rate within St Albans is at historically low levels particularly in secondary and tertiary locations. Whilst the larger prime retailers may still not be looking to take new stores, there is a growing demand from small and medium sized operators. In addition from those setting up new businesses.
Matt Bowen, Director & Head of Commercial Agency, commented “Whilst economic news in the press may be negative, this isn’t translating to what we are seeing in the marketplace. Any void periods are short and often we are finding occupiers before existing leases end. Rents are at pre pandemic levels and in some cases with the lack of availability and high demand, there is an upwards pressure on rents. The hottest part of the retail market is for takeaways with any property being deluged with enquiries as well as coffee shops and restaurants. There is a sense of real optimism from retailers and we hope this continues through 2022. This is further assisted by workers returning in greater numbers to their offices in urban centres.”
For advice on your current or future property requirements, call our Commercial Agency team on 01727 843 232.