Back to listing
ALL I WANT FOR CHRISTMASâ€¦
Publish Date: December 06, 2019
Clarity, certainty and a decisive General Election result – these are top of Mark Robinson’s Christmas List. The uncertainty over Brexit has dragged on the commercial property throughout this year, and, although Cambridge lives in its own bubble, demand has slowed in most categories.
Mark, a director at Robinson Layer, said: “The main hotspots, CB1 around the main station and Cambridge Science Park, have defied this trend, but overall investment and expansion has drifted down. Interestingly, at Robinson Layer, we have seen greater interest in the purchase of commercial property than renting. Also, quite a few investors seem to be cashing in, selling some of their property assets.
”On the whole, rental levels have not declined, as might have been expected, although retail property has taken a well-publicised hammering. On my wish list is decisive action on Business Rates. Having increased from about 25 per cent of rental level 20 years ago to almost 50 percent, their effect on larger retail trading in particular can be catastrophic. The one bright spot, for smaller qualifying firms, is the Small Business Rates Relief Scheme which means that if your property’s Rateable Value is less than £12,000 and your business only uses one property, the premises will be rates free, with pro rata discount between £12,000 and £15,000.
“One of our clients, a building surveying practice, relocated to smaller premises mid-year and made a major saving, both on the rent and business rates. It all goes to the bottom line to boost profits.”
Mark added that in such a challenging year as 2019, there has continued to be high demand for secondary shop units. “We get an amazing number of applications both from established traders as well as start-ups. In Fenstanton in July we sold a shop unit to a ceramics artist wanting to expand her business. Around the same time, we let a former sweet shop in Ely High Street to a convenience store operator, and on the opposite side of the road a former wine merchants shop was let to a vaping firm. A unit in Cherry Hinton Road recently went to an established trader for a beauty salon, and elsewhere, in Newmarket and other towns, small shops have attracted good demand.”
If a firm direction can be set by a new, majority government, Mark is confident that the Spring will see more than a sprinkling of new shoots.
FOR FURTHER INFORMATION PLEASE CONTACT MARK ROBINSON AT ROBINSON LAYER ON 01223 346195 OR EMAIL: email@example.com