October 24 2014 Latest news:
Wednesday, April 2, 2014
Commercial estate agents in a Suffolk market town say retail demand is outstripping supply as businesses clamour for space in prime locations.
Oliver Johnson, who heads up the residential, development and commercial team at Clarke and Simpson in Framlingham, has reported “high demand” in the Market Hill area of the town.
“The deal is done as soon as a unit goes on the market –that’s where the demand is, that’s were the footfall is,” he said.
Mr Johnson said the retail interest was less pronounced in other areas of the town and suggested the creation of another “shopping hub” to spread the demand.
Christopher Hudson, a district councillor in Framlingham, also reported a booming retail market.
“Since we started slowly creeping out of the recession, there’s more activity and a growing demand in Framlingham,” he said. “I’ve spoken to various agents in the town and it seems there are a lot more commercial opportunities being looked into.”
Mr Hudson said many people in the town had been speculating over whether a new supermarket would be forthcoming and felt that there was “increased pressure” on the“infrastructure retail”.
The Neighbourhood Plan Steering Group, which carried out a recent residents’ survey, will be conducting another study looking into the town’s retail market, having heard similar comments about demand exceeding supply.