Overcast

Overcast

max temp: 17°C

min temp: 9°C

ESTD 1874 Search

WIN A NEW HYUNDAI i10 - See the EADT on June 8 for full details

East Anglia: Town centre rental values ‘to carry on falling’

06:00 28 November 2012

The speakers at the PKF, Birketts and Fenn Wright Property Seminar at Trinity Park, Ipswich, from left, Mark Sargeantson. consultant surveyor at Fenn Wright, PKF partner Peter Harrup and James Dinwiddy, a partner at Birketts

The speakers at the PKF, Birketts and Fenn Wright Property Seminar at Trinity Park, Ipswich, from left, Mark Sargeantson. consultant surveyor at Fenn Wright, PKF partner Peter Harrup and James Dinwiddy, a partner at Birketts

Archant

AROUND 250 delegates filled the Trinity Park Conference Centre in Ipswich for the annual Property Seminar hosted by chartered surveyors Fenn Wright, law firm Birketts LLP and accountants PKF (UK) LLP.

shares

The objective of the wel-established event is to bring the East Anglian business community up to date with all significant commercial and residential property issues and related legal and tax topics.

Market research carried out at the seminar shows that when asked if the Government is doing enough for the property sector, 63% of delegates said no compared with last year’s seminar when 51% said no. In response to the question, how long before the commercial property market fully recovers? 56% last year thought it would be three to four years whereas this year 69% said it would be three or four years.

When posed the question, have residential property prices bottomed out? last year the majority were undecided, while this year just under 50% thought that prices had reached their lowest.

Fenn Wright consultant surveyor Mark Sargeantson said: “Maintaining economic and political stability are key factors for a sustainable and steady residential and commercial property market.

“The retail sector is facing unprecedented changes and revitalising town centres is a huge challenge for local authorities. Rental and capital values will inevitably fall in some town centres.

“Restructured and profitable house builders have funds available to purchase sites but limited stock to choose from.”

James Dinwiddy, a partner at Birketts, said: “Over the last year we have seen the property market become more argumentative from a legal perspective.

“Due to the nature of the market, landlords and tenants have been involved in increasing numbers of litigation cases as they seek to protect their investments or divest themselves of unnecessary liability.

“In order to increase their chance of winning these disputes vendors and purchasers, landlords and tenants need to be more aware of the legal detail of transactions.”

PKF Partner Peter Harrup said: “Our market research this year shows that there is still uncertainty in the sector although there is some encouragement in the residential property market.”

shares

0 comments

Retail sales are

Retail sales are “bounding ahead” as falling prices and a boost to consumer spending power is giving retailers the most upbeat outlook for 27 years, according to new figures.

A Ryanair passenger plane after take off from Stansted Airport.

Budget airline Ryanair saw profits growth take off last year as a revamp designed to improve its image and attract business customers sent earnings soaring by 66%.

The New Anglia Growth Hub team, including its business growth advisers who offer free support to businesses in Suffolk and Norfolk.

New Anglia Growth Hub has beaten its target of providing support for 3,000 businesses in its first year.

Andrew Rowe, managing director of Concertus.

Andrew Rowe, managing director at Ipswich based Concertus Design & Property Consultants, has been appointed as finance director for SPACES, the new society that has been formed from a merger between SCALA (Society for Construction and Architecture in Local Authorities) and SCEME (Society of Electrical and Mechanical Engineers serving Local Government).

Greene King apprentice Tamara-Leigh Kirkham.

Greene King has been named VQ Large Employer of the Year for 2015, in recognition of its support for members of its workforce undertaking vocational qualifications (VQs).

Sizewell A and B

Staff at the redundant Sizewell A nuclear power station will have to wait to find out if their jobs are safe from planned redundancies.

The opening of Precision Marketing's new headquarters in Bury St Edmunds.

An expanding marketing services firm celebrated the official opening of its new head office in Bury St Edmunds yesterday.

Abby Curtis who is opening Pump and Grind coffee shop in Great Colman Street with Tom Kerridge

The business team behind a new cafe have said they are disappointed they will not able to serve alcohol when opening for the first time on Saturday.

Arlingtons new art exhibition, Liz and Ken Ambler at the launch

Music, art, wine and a great deal more

Steven and Debbie Morgan pictured when they took over The Royal Oak earlier this year

Firefighters were called to a pub last night following a water leak which caused flooding.

Most read

Most commented

Topic pages