max temp: 12°C

min temp: 2°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.”



Elaine and Nigel Bowen of Vanguard Communications.

Two businesses which receive support from Suffolk enterprise agency Menta have received Small Business Sunday awards from entrepreneur and former BBC Dragons’ Den star Theo Paphitis.

Wayne Seddon from The Bridge House in London receives his Adnams Pub of the Year award from chief operating officer Karen Hester.

Southwold-based Adnams has named The Bridge House, near London’s Tower Bridge, as its Pub of the Year.

A file picture of the Sanofi factory in Haverhill.

More than 50 jobs are to be axed at the Haverhill site of pharmaceutical group Sanofi.

Georgi Rollings, left, and Emma Lawrence of Starfish Accounting.

An Ipswich based provider of online company secretarial software has reached the landmark milestone of having 10,000 users.

Robert Hughes, managing director of Hughes Electrical, and Andy Yallop, store manager, at the company's new branch in Bury St Edmunds.

Hughes Electrical has opened the doors of its new store in Bury St Edmunds following a £200,000 investment which has also created six new jobs, doubling the size of its workforce in the town.

Barclays has been fined £72m by the Financial Conduct Authority.
Photo: Jonathan Brady/PA Wire

Banking giant Barclays has been fined £72million by the City watchdog for failing to handle potential financial crime risks relating to a £1.88billion transaction for ultra high-net-worth clients.

Ipswich council leader David Ellesmere at the former sugar beet factory site off Sproughton Road.

A new Enterprize Zone involving 10 development sites across East Anglia, with the potential to create 18,500 jobs, was announced by Chancellor George Osborne today.

Natalie Moloney, of Woodbridge events firm Pink Lemonade Productions.

An entrepreneur is up for a fifth business award since her event planning company launched last year.

The Chancellor of the Exchequer, George Osborne, delivering his joint Autumn Statement and Spending Review to MPs in the House of Commons
Photo: PA Wire

The Chancellor’s Autumn Statement and Comprehensive Spending Review today divided opinion between unions employers.

Tony Willson, managing director of Helmsman Services.

Colchester-based training specialist Helmsman Services has secured the largest contract in its 17 year history, for its construction-specific e-learning health and safety courses.

Most read

Most commented

Topic pages

Local business directory

Our trusted business finder

Property search

e.g. Oxford or NW3
Powered by Zoopla

Digital Edition

Read the East Anglian Daily Times e-edition today E-edition

Great British Life

Great British Life
MyDate24 MyPhotos24