Want Space Got Space - Offices, retail and industrial space Want Space Got Space - News about how to find and advertise commercial property to let, rent or sell in England, Wales and Scotland including Offices, Warehouse, Commercial, Manufacturing, Shops and Retail.

 

Categories:

Tim Andrews of Hollywood Monster provides his view of the current property market for 2013

When asked for my opinion and to give a comment on the property industry I found myself thinking momentarily, what do I know about the Property industry? And actually, I would never pretend to know much in truth. You will also be forgiven for thinking the same of me. But in reality, our business is a great barometer on the industry and what sectors appear to be busy or at very least where green shoots are beginning to show.

I am close to lots of surveyors and developers, both personally and professionally, whether it be in marketing meetings, general bar chit chat, pounding the streets running or burning rubber on our bikes, one thing is for certain, everyone in the property sector I come across seems to be very busy in comparison to this time last year. Some sectors busier than others, but a common belief is that there is a real shortage of good quality properties coming to the market. Ok, so this is perhaps nothing ground breaking, however this must result in some speculative development in the second half of 2013. Speculative development is great news for our business, because of course, developers need our product to help sell the property.

We have seen a huge increase in new boards being erected for housing developers in 2012. The likes of Barratt homes, Redrow, Taylor Wimpey  seem to be going from strength to strength. In truth we did not see a downturn in this sector quite the same and depth as the Industrial and office sectors but its comforting to see such an uplift. This has to start having positive effects in other domestic related markets in 2013, and of course the knock on effect into other sectors.

The downturn in both the Industrial and office sectors would have been catastrophic for our business had it not been for a relative buoyant retail development sector. Westfield, our largest retail development client developed the two largest retail outlets in Europe, these being White City, London and Westfield Stratford adjacent to The Olympic park. The latter opening in time for the Olympics created £1.8m of graphics and signage work this year alone to Hollywood Monster.

We are getting a much higher level of requests for large scheme signage on new sites coming to market, Prologis Park, Ryton and Roxhill’s Invicta Riverside site in Aylesford, Kent are both great examples. Other existing developments are having their signage refurbished, in readiness for a new push on marketing, giving us an indication that developers are becoming more active on site and are ready to kick on with new phases. Blythe Valley is a great example to this. Another barometer to the market is the level of signs being removed having being sold, many boards having being up for five years or more in some cases. All giving hint that times are changing. And so hopefully this will yield a successful 2013 and beyond.

I cast my mind back to 2008, our business was predominantly property focussed. In fact around 80% of our sales ledger was property. Twelve months ago this reduced to less than 40%. It is currently standing at 55% and increasing monthly. There is a long road ahead, but I think there is a light at the end of it!

Have a great 2013

Posted by The Editor (wantspacegotspace) on 18th January 2013 (updated 16/02/2013)

Back to news list

 Surrey  Leeds  Leicester  Derby  Nottingham  Birmingham  Manchester  London  Essex  Milton Keynes  Northampton 
 Kettering  Cardiff  Basingstoke  Dorset  Shrewsbury  Bristol  Southampton  Reading  Bolton  Coventry  Swansea  High Wycombe 
 Corby  Rugby  Worcester  Chelmsford  Lincoln  Bedford  West Sussex  Doncaster  Wolverhampton  Telford  Croydon  Slough 
 Cornwall  Solihull  Sittingbourne  Luton  Watford  Portsmouth  Ashford  Greater Manchester  Fareham  West Malling  Kings Hill  Middlesex