Garston Park Parade – the resilience of the secondary retail market

The subject parade provides 16 shops to the local community, holding a good retail mix. As asset managers, it is our role to manage the complexities of the landlord and tenant relationship through good estate management, whilst also maximising the rental incomes and capital values of the freehold asset.

Over the past 12 months, our graduate surveyor Alex Mason carried out various transactions within the subject parade, including open market letting, rent reviews and lease renewals. Through negotiations with the tenants and their appointed surveyors, Alex managed to set a strong benchmark for the tone of rents, achieving a growth of 30% within this short period of time, whilst maintaining the good retail mix.

This growth in secondary retail rents shows that when we put our asset management skills in use, no matter what the news may say, we can help the economy, independent business owners, and landlords.

Day and Bell manages a large portfolio of secondary retail parades and neighbourhood centres, as well as other type of commercial property. We are happy to confirm that steady growth in rents and capital values over all commercial property, whilst supporting the commercial tenants cash flow.