This report is based on a survey of Propertymark commercial agents reviewing the third quarter of 2024. It is further addended with an analysis conducted by Propertymark of key statistics relevant to the commercial property market.
"We have witnessed the resurgence of brand enquiries in prime retail. Lots of these brands are the ‘new kids on the block’ – brands with great covenants and a significant number of branches in the UK already, but not necessarily as recognisable as those that have been here for a decade or more.
This is a necessary reminder of the fluctuation of the fortune of brands and that many new chains arrive on the scene at the same time as older ones either stagnate or are just not on a path of expansion.
The evidence of all this resurgence comes from the lets we are completing; the increasing number of enquiries and the ever-growing requirement lists from brand surveyors and agents both in-house and not.”
Economic outlook
In December 2024, inflation dipped slightly to 2.5%, although it does sit above the Bank of England target rate of 2%.
Rent levels
Members continue to be optimistic about rents in both the Takeaway and Class E Sectors. However, sentiment in the Pubs and Restaurants Sector remains negative and agents remain pessimistic about rents in the Leisure Sector.
Office sector
27% forecast an increase in supply, whereas 45% foresee them remaining constant.
