High streets are still suffering

Sell My Commercial Property > Commercial Property > High streets are still suffering

The UK’s high streets are still suffering.  You will have noticed the recent disappearance of the likes of Victoria’s Secret, Debenhams, Peacocks, Thomas Cook, Top Shop, Dorothy Perkins and many more.  Although some existing retailers have opened new stores, and some new names have appeared, the net number of high street shops continues to rapidly fall.  Is this a consequence of coronavirus, inflation, job losses, the end of furlough, the threat of interest rates rising, changing shopping habits or the growing popularity of online shopping?  The answer is probably all of these things.  Whatever the reasons may be, the fact remains this is having a devastating effect on commercial property values.  We at Sell My Commercial Property have noticed the increase in the number of landlords who wat to sell, or who need to sell, but many are still holding out for prices they will never achieve.  How can a vacant shop be worth more today than it was worth two years ago when it had a tenant in occupation paying rent and before any of us had heard of Covid19?  The answer is, it can’t!  I urge all those people who want to sell, or who need to sell their high street shops to be sensible and realistic about what their properties are worth.