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Trade News Archive April 08 March 08 February 08 January 08
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17th April 2008
Retailers property prospects not harmed by crunch
Retailers and wholesalers looking to obtain commercial property are unlikely to be affected by the credit crunch, experts have claimed.
According to the National Federation of Enterprise Agencies (NFEA), the commercial property sector is different to its residential counterpart and is not undergoing the same level of turmoil.
George Derbyshire, the chief executive of the NFEA, revealed that renting was a particularly viable option for retailers looking for business space.
"We are not aware of any great level of concern at the present time," he said. "For those renting their properties, the upward pressure on rents we have experienced in recent times will have reduced, which will be welcome news."
Meanwhile, while retailers have received a property boost, they could face an increase tax burden this year.
The Confederation of British Industry claim that recent tax changes, such as the abolition of empty property relief, could hit companies in the pocket.
(c) 2008 Adfero Ltd
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