PRLog - Jul 29, 2013 - Recent reports of rising consumer confidence have been welcome news to London businesses and shopkeepers in particular. However closer inspection of the most recent figures from the Office of National Statistics reveals an interesting pattern which will be welcomed across the UK. According to the latest figures from the ONS, over a quarter of a million Londoners left the capital last year alone, to go and live in other parts of the UK.
This movement in the population is distributed unevenly across the country, with 40% of those leaving the capital staying in the South East and a further 25% and 8% heading to Eastern England and the South West respectively. The influx of population from London looks set to fuel growth and opportunities for retail businesses outside of London. People moving into areas poorly served by the commercial sector are stimulating demand in the regions. Local businesses are stepping up to the plate, looking to expand and diversify as they compete for regional business premises to rent.
Proof of this is seen in commercial property prices which had previously been in a slump. Having seen something of a plateau following the credit crunch, rents, leases and sale prices of business premises in the regions is starting to reflect a healthier business climate. Business owners thinking about moving or expanding out of London are facing a race to secure the best possible properties at competitive prices as the recovery starts to get into full swing.
This exodus and rise in consumer spending nationally is fuelling a growth in opportunity for retail businesses outside the capital. With pricing for commercial property in the regions at attractive rates, many are looking to the regions for expansion and growth opportunities.
“It really was only a matter of time before consumer confidence began to return to the retail market” said a spokesman from Pearl & Coutts commercial property experts. “We’re seeing significant movement in the regional retail property market thanks to the outflow of consumers from London and recovery within the economy as a whole. Business owners need to get rapid help to take advantage of lower rents before they miss this opportunity altogether. Our team aim to make finding the right shop to rent a fast, efficient process at every stage,”
Pearl and Coutts offer shops and commercial premises located in strategically desirable and well-connected locations through England, Wales and Scotland. Their seasoned team can help you find the right premises whatever the market is doing. To speak to one of their multilingual staff, simply call 020 7843 3788. www.pearl-coutts.co.uk
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Shops Outside London Are Ideal For Businesses Looking To Serve Customers Leaving The Capital
July 29, 2013 at 07:10 AM EDT
