Happy new year to one and all!
Reeves and Co. are starting the year with big plans for 2011. The final quarter of 2010 finished strongly for us with numerous deals being concluded before the year end. The recent success we have been having is due to being realistic in a difficult market place, this means asking achievable rents and being open to offering incentives to potential clients/purchasers. We do not foresee a noticeable pick up in demand for early 2011 however by being proactive we can still make deals happen.2011 will not be plain sailing, especially with termination of the government empty rates allowance for small properties which is going to have a major impact on the industry. Many landlords will be reviewing their portfolios to decide if it is even possible to continue to hold a building. The irony being that to justify the decision the government proclaimed that this was a way to enforce commercialism, to spur on landlords into getting new tenants by offering flexibility and value. The reality is quite different as there is a strong possibility of supply simply drying up in the medium term due to increased demolition and a severe lack of supply coming through the development sector.Reeves and Co. are keen to assist landlord with their property strategy. If you have vacant accommodation please get in contact and see if Reeves and Co. can be of assistance to you in 2011.