Commercial Property End of Summer Review – Ciara Aiken, Commercial Property Director, Best Property Services.
“With summer drawing to a close and the clamour of Back to School week settled, it’s a good time for us to reflect on market performance for the last quarter.
Traditionally summer is a time when the commercial property market experiences a lull in activity..holidays, employee leave and the season of autoresponders mean major decisions on buying a commercial property, valuing a commercial property or even selling a commercial property are often put on the long finger.
The sales pattern in recent years usually dictates business calls begin in earnest in early September and that’s when we feel the Commercial Market awakes from its Summer slumber with a burst of activity in the last quarter of the year.
Summer 2019 has not followed the trend.
This summer we’ve seen a complete 'about change' in seasonal property trends.
The Best Property Services Commercial team have secured six Commercial lettings in the first six weeks of the summer – these include a mix of commercial property types from retail units and retail warehouses to offices and restaurant premises.
Three of the six properties were agreed within two weeks of coming to the market – no sign of any summer lull.
It is also good to note that three of the lettings were to existing Newry businesses expanding in the City while the remaining three were to newly established businesses.
In both circumstances the investment in commercial property signals a green light for the Newry business community.
It’s also tangible vote of confidence in the commercial property market in the City and Best Property Services are very pleased to be part of contributing to the growth of Newry as a great place to do business.”
About the Author:
Ciara Aiken, FRICS, is Commercial Director with Best Property Services and is primarily involved in Commercial transactions to include sales, lettings, valuations and acquisitions.
Ciara is a Fellow of the Royal Institution of Chartered Surveyors, a professional accolade, demonstrating the highest standard of professionalism for members with over 20 years' expertise.
She also heads the Landlord and Tenant Department which specializes in providing advice on lease renewals, rent reviews, break clauses etc in addition to advising Corporate & Private clients on all property matters.