The commercial property market has had many influences over the last 12 months, to include both Brexit and Covid-19, as well as historically low interest rates. The effect of lockdowns has accelerated the change in our retail habits and many high streets are now unrecognisable from before the pandemic. Where national retail chains once occupied, there are new business and enterprises, sadly amongst many empty shop windows. Our high streets are set to evolve with more residential accommodation, meeting and leisure spaces.

Nick Jethwa says:

“Through my involvement with ReWyre I have been fortunate to work alongside Wyre Forest District Council who have been incredibly successful in attaining Future High Streets funding of £20.5m, in addition to which a further £17.9m from the levelling up fund. This is set to transform underperforming areas of the town, increase circulation, enhance the cultural offering and in turn attract private sector investment.

On a similar basis Worcester has benefited from £17.9m of FHSF grant funding to be focussed on improvements to the Scala Theatre, Corn Exchange and Angel Place. The industrial sector has been growing in strength for many years and as a consequence of the home delivery revolution, demand and values have continued to climb. Supply chain issues in bringing forward new developments have further exacerbated this. As a firm we are involved in sale and management of industrial investments, lease consultation and construction management.

We continually give advice on how to optimise rental and capital performance of assets. The office market has remained surprising robust, in particular out of town offices are performing at pre pandemic levels. The exact influence of the work from home culture will slowly show its hand at lease renewals. We expect at the very least, a reshuffle amongst occupiers whose requirements have changed. It is important for Landlords to ensure their assets continue to offer good quality working environments and also to be increasingly mindful of how the net zero ambitions of their tenants can be met, with a combined approach. As a firm we have been actively involved with substantial sales and acquisitions on a nationwide basis. We are actively seeking new asset management opportunities, with a view to formulating strategies with clients to maximise returns.”

Nick Jethwa MRICS