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The South West Weston Super Mare Area Market


and surrounding area due to both the effect of the internet and rates payable. The result has been a tendency for rents to fall away and for there to be vacant space. Hopefully this will improve with the Government's stated intent to assist High Streets by reducing rates significantly from the 1st April 2019 albeit this does not help in the meantime.


The Office market remains much the same with limited demand and static rental levels albeit latterly there has been some increased level of enquiry which hopefully bodes well for the future and the development of this sector. The stock particularly above shops has significantly reduced due to an increasing level of residential conversions.


Michael Ripley


It seems incredible a year has passed since my last article. 2018 saw considerably changes in the market in the Weston-


super-Mare area particularly as far as Retail was concerned with an increasing number of empty shops in the High Street


However the Industrial Warehouse market is bucking the trend. The demand has been good with the level of enquiries being sustained into the New Year. A number of lettings have been concluded particularly on the Weston Industrial Estate where rents are rising.


Elsewhere the limited availability of space ensures that properties let readily providing the rents remain competitive.


There are few freehold premises available and these when offered result in considerable interest which is leading to increasing prices. Purchasers remain positive utilizing the potential rent to pay for a freehold which makes very good sense with longer term growth in capital value.


All this has been occurring during the Brexit debate and the uncertainty in 2019 as to when and how Brexit is to take effect will undoubtedly be a consideration taken into account by both Tenants and Investors alike. Hopefully this will soon be cleared and will enable the market to move forward.


The nearer to Bristol the better the level of enquiries for Offices in particular which is affected by the rental levels in the City. The effect of Hinkley Point is positive particularly on the market south of Weston- super-Mare where there is significant movement in Bridgwater which is gradually percolating up the MS towards Highbridge and beyond.


Despite the difficulties in the economy generally the market remains active particularly on the Industrial/Warehousing front and if manufacturing goes forward this must be a positive sign for other areas of the Commercial Market. All is not therefore negative and hopefully we will see improvement during the year.


54 COMMERCIAL PROPERTY MONTHLY 2019


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