Hello again and a Happy New Year to you all.  Let’s hope things are not going to be all doom and gloom and that new businesses will continue to set up and some even expand!  We are of course forever hopeful that property prices will increase but for the time being we should just hope that they remain static rather than dropping.

Commercial Lettings

The lettings market has been a bit patchy but we have had some good deals go through, still as we have said before some exchanges are taking longer than usual but they are happening which is a good sign for the climate.  Here is a little précis of deals that have recently completed.

Maidstone Road, Rochester - We have just completed a lease on this shop.  The new tenant is a physiotherapist and achieved planning permission himself so he can operate from the unit.  The shop is in is a good local parade and has a good mix of retailers which should bring him new business as well as his established client base.

Manor Road, Chatham – we have recently let a large redundant NHS building that was used as a drug rehabilition clinic by Medway Council, they closed this last year but the building is going to have a new lease of life so to speak. A company currently based in Strood are expanding and moving in here this month.  They are a lovely company who run a day care centre teaching life skills to disabled adults.  This unit let so very quickly in a matter of weeks proving there are the right people out there for your property.

Church Street, Chatham – A client came to me with an empty shop that he had been marketing elsewhere for the last couple of years with no interest.  We went down to have a look around and couldn’t see why no one wanted this unit.  In less than a year we found a tenant and they are now in and about to open their doors.  They are a hairdressers/beauty salon opening as their first shop but they have big plans and already are looking for their second and third units in the Medway Towns.  So watch this space and all the very best to the tenants.

One thing I will say about these deals, landlords are still having to be very flexible in this climate as we are finding rent incentives are being given in the form of stepped rents and rent free periods but only to the right tenants who are looking to stay for the longer term and create and operate a good business from the premises.

New Shops/Offices available -

There has not been so much new stock coming onto the market at this time of year but I have just been to see a shop in Dalston Lane, London E8.  This shop is close to the junction with Amhurst Road in a small parade of shops next door to a sub post office.  The shop is over ground floor and basement and would suit various retailers. 

Shop units in Tottenham seem to change hands fairly regularly but we have a small unit in Philip Lane which is a busy local shopping area and caters for the large residential catchment around. 

Moving South of the River now, we have today been instructed on a former florists in Sydenham Road, SE26.  Sydenham Road is a busy road and this unit is bang next door to Lidl so is in a prominent position.  All details will be on our website in the next day or two.

Please enquire about these and our other units available or just have a look on the properties to let section on the website and you will see the current stock available.

We subscribe to two websites, namely Showcase Property which is part of the Shop Property Group and also EGIPropertyLink (part of the Estates Gazette).  These sites are a good marketing tool for putting properties out to everyone and they also advise us as agents how many people have looked at your property so it gives you a good idea of initial interest.

Auctions –

The first round are due in February and it will be interesting to see how things fare.  December sales were not particularly strong which could be that people are still hesitant to buy or still looking to see whether prices will drop, overall I don’t think this is the case and as we always say properties in good locations will always hold their price.

Maybe now is the time to consider the auction route, which is a good place to buy or sell as long as you have done your background checks.  If you are looking to buy at auction, let us help you, we can look for properties, research their values/viability, read the legal documentation and even attend the auction on your behalf to acquire that property.

Shop Rentals -  

There are plenty of applicants looking for a shop or office building, whether they are setting up a new venture, expanding to larger premises or looking for additional premises.  If you have an empty shop or office, why not see whether we can find a tenant for you.  We know Landlords can benefit from empty rates for a short period but wouldn’t it be better to have someone in your premises and you have a regular income?

We hope you have enjoyed reading this and if we can help you with your property or you are thinking of looking for premises, then please do not hesitate to give us a call.

Contact:  Paula Horton

Horton Property Solutions Ltd

Admirals Offices

The Historic Dockyard

Chatham Kent ME4 4TZ

Tel:               01634 817 222

Fax:              01634 849 010

Mobile:         07795 385 479

Email:           paula@hortonproperty.co.uk