It has been a fairly wet summer in beautiful Scotland! With a few days away to sunnier climes we still managed some deals in between everyone’s holidays. Doing business at this time of year seems to get increasingly challenging – are we all taking more holidays than before?!
Our retail clients T.K. Maxx, Home Bargains and Warren James are still busy expanding their portfolios and have no sign of stopping. Retailers focused on ‘brands for less’ and those who know how to bring value to the high street are still succeeding with shoppers and show no signs of slowing down.
Deals are taking longer to happen. It could be the summer factor but it does feel as if there is a little nervousness due to a multitude of ‘excuses’. Whether it’s a botched election, Brexit, or the threat of another Independence vote… footfall has been impacted everywhere in Scotland. Even when deals are agreed, lawyers do seem to be dragging out matters beyond even what used to be the norm, so things that used to take weeks now sometimes take months!
The Scottish planning system is almost bust, through understaffing and under-resourcing (and it makes the Northern Irish system look like a well-oiled machine!), which leads to more delay and frustration on all sides. None of the above looks like it is going to change in the near future.
However, it is not all doom and gloom! Fortunately there are exceptions to the general trend and there are those developers still looking for investment and deals still to be done. I am very blessed to act for clients that do buck the trend on both the retailer and landlord side.
Here’s to a sunnier autumn!
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