After an active summer, momentum has been maintained into Autumn with significant business activity continuing, in positive contrast to gloomy media headlines. Whilst markets and values are constantly changing in response to interest rates and the general economic environment, clients of Hyatt continue to be positively engaged in a wide variety of property issues.
Demand for roadside sites continues to be high not only from occupiers and investors for leisure type uses, but also from non leisure businesses where good site profile and the communication benefits of arterial route locations are required.
Completed roadside investment - Downham Market, Norfolk - typical of current demand.
Office to residential conversion - Manchester - completed Autumn ‘23
Achieving income growth in the retail sector continues to be challenging in general, but location and unit type show considerable variation.
This is also evidenced in the investment market where higher interest rates have rendered those relying on third party finance uncompetitive against the still considerable demand from cash buyers which underpins the market.
Hyatt has significant involvement (on behalf of clients) in office to residential conversions. It continues to seek such opportunities as demand is strong in spite of the reported slackening of the residential market and where opportunities to acquire “tired” assets are greater than for some time.