POST COVID-19 BOUNCE SEES DEALS BOOST

Commercial agents are reporting a hike in enquiries

COMMERCIAL agents are reporting a surge in demand for units as North Wales enjoys a post-lockdown bounce in activity.

The market ground to a near halt in the depth of lockdown – although enquiries continued – and now deals are being made across the region.

One agent covering north west Wales said they were being “inundated” with calls – with a trend in retail for independents to target sites left by national chains.

In north east Wales there is reported bounce in any sites with easy access to the A55 and A483.

In Conwy county, St Davids Commercial has seen numerous deals get over the line since lockdown eased – in contrast to the UK picture being reported.

Legat Owen director Stephen Wade said: “As you would expect the market virtually ground to halt during lockdown but we are definitely seeing a post Covid bounce in those areas that are well located with easy access to the A55/A483.

“Connectivity is undoubtedly the key to success. Stray even a few miles from the major arterial routes and demand weakens.

“Our enquiry levels for industrial floorspace are actually above pre-Covid levels and occupiers are struggling to find existing units to occupy.”

As an example he said at Llangefni Trade Park – now under construction – four of the eight units are already under offer. He said it was now vital the North Wales Economic Ambition Board use the Growth Deal to help bring more schemes forward – or risk losing jobs to other areas.

He added: “North Wales planning authorities should prioritise planning applications for employment related uses. North Wales needs jobs, jobs, jobs more than ever and developers need planning permission.”

Dafydd Hardy, from Dafydd Hardy estate agent, said: “During lockdown, whilst our teams worked from home, we continued to receive a number of enquiries on commercial units and even agreed a number of leases and sales (subject to a viewing) without any physical appointments.

“The trend we saw then continues today with a shift away from the national brands taking up commercial spaces, and more independent local businesses opening up instead. As a passionate advisor to a number of local businesses, it’s brilliant to see new and growing local businesses during what is a strange period in our lives.”

He said for the long term, business rates – on hold for now – remain a barrier.

But he added: “That being said the commercial market, much like the residential one, appears to be very busy and our teams are inundated with calls, emails and enquiries which we’re dealing with as promptly as possible.”