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  • Creating certainty in an uncertain retail property market

Creating certainty in an uncertain retail property market

04 Jun 19

The retail sector is currently going through unprecedented levels of volatility. The economic downturn saw us lose household names Woolworths with more recent losses including BHS, Toys R Us and Maplin, to name a few. The recent pre-pack administration of Debenhams was a stark reminder that the sector is still massively disrupted by changing shopping patterns.  Convenience retailing via out of town schemes and online traders offer people the ease of buying from their couch 24/7 and have led to an ongoing decline of the high street.

It’s not all doom and gloom however, many retail centres are now reinventing themselves as leisure destinations. One particular success story in Ipswich is the Buttermarket shopping centre, which once saw high vacancy rates and low footfall.  Now rejuvenated as a leisure destination and approaching full capacity, the centre has become a magnet for lunchtime visitors and evening cinema goers alike.

John Birchall, MRICS, Associate Partner, gives us his insight into the retail sector.  “Fenn Wright have seen similar stories across a wide variety of retail instructions; by thinking outside the box we’ve secured occupiers for a number of what were retail shops, now occupied for alternative lifestyle leisure uses, including nail bars, coffee shops and cafes. Understanding the aspirations of occupiers through an extensive database of applicants ensures that we mitigate voids as best as possible.

Alternatively, uncertainty may present itself in the form of an impending lease expiry. This uncertainty can be alleviated through sound lease renewal advice. Be it negotiating a lease regear to remove breaks or extend the term via a reversionary lease, to advising upon an expired or expiring lease renewal on your behalf. Market knowledge will give you the edge to ensure you achieve the best possible deal.”

We would be pleased to provide advice on a case by case basis if we can be of any assistance, please get in touch.

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Letting and estate agent in Woodbridge

Nunn's Mill, Quayside, Woodbridge, IP12 1BN Email: woodbridge@fennwright.co.uk

Opening hours

Monday - Friday08:30 - 18:00
Saturday09:00 - 17:00
SundayClosed

Our agents

Woodbridge estate agents01394 333346
Woodbridge letting agents01394 382263
Suffolk Farms & Estates specialists01394 446550
Signature property specialists01394 330990
Commercial property agents01473 232701

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01394 333346

Letting and estate agent in Kesgrave

127 Main Road, Kesgrave, Ipswich, IP5 1AB Email: kesgrave@fennwright.co.uk

Opening hours

Monday to Friday08:30 - 18:00
Saturday09:00 - 17:00
SundayClosed

Our agents

Kesgrave estate agents01473 358400
Signature property specialists01473 358400
Suffolk commercial property agents01473 232701
Kesgrave letting agents01473 417711

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01473 358400

Letting and estate agent in Ipswich

1 Buttermarket, Ipswich, IP1 1BA Email: ipswich@fennwright.co.uk

Opening hours

Monday to Friday08:30 - 18:00
Saturday09:00 - 17:00
Sunday10:00 - 13:00

Our agents

Ipswich estate agents01473 232700
Signature property specialists01473 232700
Ipswich letting agents01473 417711
Commercial property agents01473 232701
RICS Surveys01473 417718
Suffolk Farms & Estates specialists01394 446550

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01473 232700

Letting and estate agent in Manningtree

2 Station Road, Manningtree, CO11 1AA Email: manningtree@fennwright.co.uk

Opening hours

Monday to Friday08:30 - 18:00
Saturday09:00 - 17:00
SundayClosed

Our agents

Manningtree estate agents01206 397222
Manningtree letting agents01206 585400
Essex commercial property agents01206 216565
Signature property specialists01206 397222

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01206 397222

Letting and estate agent in Sudbury

26 Market Hill, Sudbury, CO10 2EN Email: sudbury@fennwright.co.uk

Opening hours

Monday to Friday08:30 - 18:00
Saturday09:00 - 17:00
SundayClosed

Our agents

Sudbury estate agents01787 327000
Signature property specialists01787 327000
Sudbury letting agents01787 327010
Commercial property agents01206 216565
Farms & Estates01206 216550

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01787 327000

Letting and estate agent in Colchester

146 High Street, Colchester, CO1 1PW Email: colchester@fennwright.co.uk

Opening hours

Monday to Friday08:30 - 18:00
Saturday09:00 - 17:00
Sunday10:00 - 13:00

Our agents

Colchester estate agents01206 763388
Signature property specialists01206 507607
Colchester letting agents01206 764499
Essex commercial property agents01206 216565
Essex new homes agents01206 763388

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01206 763388

Letting and estate agent in Stanway

Head Office, 1 Tollgate East, Stanway, Colchester, CO3 8RQ Email: stanway@fennwright.co.uk

Opening hours

Monday to Friday08:30 - 18:00
Saturday09:00 - 17:00
SundayClosed

Our agents

Stanway estate agents01206 216543
Stanway letting agents01206 764499
Commercial property agents01206 216565
RICS surveyors01206 245895
Farms & Estates01206 216550
Water & Leisure01206 216555
Lettings maintenance team01206 245888
Finance department01206 245894

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01206 216543

Letting and estate agent in Witham

64 Newland Street, Witham, CM8 1AH Email: witham@fennwright.co.uk

Opening hours

Monday to Friday08:30 - 18:00
Saturday09:00 - 17:00
Sunday10:00 - 13:00

Our agents

Witham estate agents01376 516464
Witham letting agents01245 491111
Commercial property agents01376 530135
Signature property specialists01376 516464

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01376 516464

Letting and estate agent in Chelmsford

20 Duke Street, Chelmsford, CM1 1HL Email: chelmsford@fennwright.co.uk

Opening hours

Monday to Friday08:30 - 18:00
Saturday09:00 - 17:00
Sunday10:00 - 13:00

Our agents

Chelmsford estate agents01245 292100
Signature property specialists01245 292100
Chelmsford letting agents01245 491111
Commercial property agents01245 261226

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01245 292100

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