tag:blogger.com,1999:blog-691671699575405507.post2420247545387182932..comments2024-03-10T22:25:07.539+00:00Comments on Wrecsam.news: Market forcesPlaid Whitegatehttp://www.blogger.com/profile/05757898330400853732noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-691671699575405507.post-37061507421556932852009-12-17T08:50:51.282+00:002009-12-17T08:50:51.282+00:00Again the letter i send to wrexham council asked h...Again the letter i send to wrexham council asked how are you helping the shop keepers in wrexham and the rise in rents, Mr Bayley avoided the questione totally, the email recived is mainly for new tenants of shops,D,DEhttps://www.blogger.com/profile/14958250105012034667noreply@blogger.comtag:blogger.com,1999:blog-691671699575405507.post-42548055096990152692009-12-17T08:47:00.055+00:002009-12-17T08:47:00.055+00:00With regards to rents, a few people i no have said...With regards to rents, a few people i no have said there have been 3 ret increases in less than a year, and was complaining the council are not helping them,<br /><br />Thank you for your e-mail. You asked about rent increases and I can<br />give you information about the average rent per square metre paid in the<br />markets and how it has changed during this financial year: February 2009<br />= £ 123.03 /m per annum and November 2009 = £ 117.27 / m per annum. As<br />you can see, rents have declined slightly this year, partly as a result<br />of temporary rent concessions granted to new tenants entering the<br />market. The recession has resulted in increased 'tenant churn', with<br />more businesses coming and going. This in turn results in more new<br />tenants (as a proportion of total tenants) who may be paying low initial<br />start-up rents, leading to a lower average rent figure.<br />The Council's own shops (we have 24) are fully let at present. We have<br />one shop which is due to become vacant, and if you want the details of<br />this, please contact Claire Jones. We also have a list of shops that<br />are privately owned, available to rent, and if you would like details of<br />these properties, telephone 366366. We have an action plan for the town<br />centre which seeks to promote trade generally for the benefit of all<br />commercial operators but we have no control over privately owned shops.<br /><br />I can explain what we have done in response to the recession on the<br />retail front. All our commercial properties are subject to periodic rent<br />review. At the time the recession took hold we were engaged in a<br />programme of rent reviews on about 40 commercial properties. We<br />cancelled the rent review programme. When we have a prospective new<br />tenant, the terms we negotiate reflect current market conditions, so the<br />rent concessions on offer to assist in a new business start-up now are<br />generally more advantageous than they were say 18 months ago. Sometimes<br />we are approached by someone who has no track record in business, with<br />an idea that is untested. In these situations we may offer a unit at a<br />favourable rent on a fixed term licence. This gives the applicant an<br />opportunity to try out the idea without the burden of a long-term<br />financial commitment. It also gives him / her the opportunity to<br />establish a good payment record that will in turn lead to the offer of a<br />tenancy with security of tenure, if the business is a success. In this<br />way we can help new businesses to establish and grow. <br />We always try to fill our empty units as soon as we can, and when (as<br />now) we have an over-supply of empty space we can offer units rent free<br />on a temporary basis to charities, provided their goods for sale do not<br />compete with our other tenants. We try to help our existing tenants, if<br />they are in difficulty. We can offer business advice, and may offer<br />financial assistance if it is justified. <br /><br />The Council itself is not immune from the financial pressures of the<br />recession. Our own income has dropped, this in turn has put pressure on<br />our budgets, and limited the scope for offering financial concessions.<br />So we must try to strike a balance, having regard to all these pressures<br />and that means we cannot offer across the board rent concessions to all<br />our commercial tenants. I hope that explains the challenge we have and<br />how we are trying to tackle it and I hope it answers your question.<br /><br />If you have an interest in taking a retail unit, can I suggest that you<br />contact our commercial surveyor Claire Jones on 297258.<br /><br /><br />Stephen Bayley.D,DEhttps://www.blogger.com/profile/14958250105012034667noreply@blogger.comtag:blogger.com,1999:blog-691671699575405507.post-81593989582932906542009-12-16T11:16:36.501+00:002009-12-16T11:16:36.501+00:00The problem with Wrexham's markets is that the...The problem with Wrexham's markets is that the quality and price of goods can often be matched better elsewhere by retailers such as TJ Hughes, TK Max etc. The supermarkets are also becoming leaders in providing a range of products under one roof.<br /><br />The best thing Wrexham can do is modernise the Peoples market to encourage more people of all ages to use them. The Butter market could be transformed into a high quality specialist food outlet.<br /><br />The Welsh Assembly Government and Wrexham Council need to work up a proposal to enhance the existing markets which cannot remain in their current format.<br /><br />Young people are not attracted by markets and that is their greatest challenge.Be Realnoreply@blogger.com