Partly Cloudy

Partly Cloudy

max temp: 16°C

min temp: 9°C

ESTD 1874 Search

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


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.


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.”



Bristol Pier, Shotley is for sale, by auction

A rare opportunity to buy a Victorian pier at auction

The Haven Power team who play in the Suffolk FA Monday night Football league

Business electricity supplier Haven Power is once again sponsoring the Suffolk Football Association (FA) Monday Night Football League in Ipswich.

Suffolk Yacht Harbour is celebrating the launch of its new workshop

An independent marina on the River Orwell is celebrating a major expansion.

Peter Osborne, General Manager, Brudenell Hotel, Aldeburgh.

A privately-owned hotel on Aldeburgh seafront is celebrating after it was awarded a coveted AA Silver Star Award for 2015.

Delegates from the ABP Marine Conference at ABP, Old Custom House, Port of Ipswich.

Some of best marine minds in the country were in Ipswich this week as harbour masters, dock masters and marine managers gathered for an annual conference.

DFS is celebrating record results.

Sofa chain DFS Furniture has hailed a record set of results as Britain’s buoyant housing market and growing consumer confidence boosted sales.

The Bank of England Monetary Policy Committee is expected to keep interest rates at 0.5%.

The Bank of England is expected to keep interest rates on hold today amid mounting concern over a slowdown in the economy.

Owner and head chef of Sweet P's, Pierre Rollins.

Soul food restaurant Sweet P’s is due to reopen next week after a devastating kitchen fire six months ago.

The new board members at employee-owned social enterprise Leadiing Lives who were elected at its AGM.

More than 50 jobs have been saved in Suffolk and north-west Essex following the closure of care support charity Crossroads Care East Anglia.

The Great House in Lavenham has been awarded three rossetts from the AA. Left to right, Martine and Regis Crepy, Enrique Bilbault, Swann Auffray, David Castro, Guillavme Dericq.

An award-winning Suffolk restaurant has officially been recognised as one of the best in the country.

Most read

Most commented

Topic pages