Retail & Leisure Market Update
Wednesday 27 September 2023
Flude Property Consultants are delighted to share with you the most recent retail and leisure market update prepared by our dedicated retail and leisure agents; Will Thomas, Sebastian Martin and Alice Masterman.
From our own data, we have seen the number of enquires increase annually over the last five years. However, despite the average size of requirement historically remaining relatively consistent, it is evident that we are receiving a higher number of enquiries who are looking for smaller premises.
In addition, we have seen a dramatic shift in the number of enquires being received for retail properties from non-retail occupiers (such as Class D1, D2 and office). This really follows the changes in the planning system in 2020 and the introduction of “Class E”, which has been helpful in terms of generating and letting traditional retail units.
Over the last 24 months, we have found that Food and Beverage enquires have almost halved when compared to the previous few years. Many occupiers have cited the increase in utility costs as one of the biggest factors, together with the increases in raw ingredients.
This year we have seen the biggest shift in terms of a reduction in enquires from traditional retail occupiers (Class A1/2), which is down by around 25% when compared to previous years and amounts for around 50% of the total number of enquires.
Click on the link below to view our market update flyer.
