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North West businesses face further rental increases over next 12 months

BUSINESSES in the North West are predicted to face further financial pressures, with commercial rents expected to rise by 4% on average over the next 12 months, RICS (Royal Institution of Chartered Surveyors) warned.  The quarterly RICS UK Commercial Market Survey (Q3 2015) reveals that North West businesses, within the office and industrial sectors, are likely to experience the most significant rental increases over the next 12 months, at around 4.3% and 4.6% respectively, with London being the worst hit region (6%). A lack of available leasehold commercial space in the North West combined with rising demand for such property is placing upward pressure on rents. Demand for commercial properties in the North West; from both renters and investors; rose during the ⅓ quarter of the year (Q3), with 32% of respondents reporting a rise in demand for retail space (up from 28% during Q2), whilst 61% saw an increase in demand for offices (up from 40% in Q2). Demand for industrial properties also rose considerably, with 61% of respondents reporting a rise in demand; up from 46% during the previous quarter. Consequently, commercial property values are expected to continue to rise relatively strongly over the next 12 months. A busier month after a very quiet summer. The level of enquiries has increased. The main issue is now lack of stock.

Mike Redshaw, FRICS of Nolan Redshaw said:- "After a strong first quarter, the general market seems to have plateaued, however investment activity is increasing. The continued success of the Logistics Northsite in Greater Manchester is restoring confidence in the commercial market and mirrors the increase in activity within the logistics sector nationally."

Sarah Lewisbriggs of AMCAT UK Ltd in Whitehaven said:- "The market in Whitehaven has been depressed for years, but has been positively affected by the nuclear sector in the past 5 to 10 years. This effect is likely to continue over the next 5 to 10 years, with the development of the new nuclear plant. Whitehaven is likely to feel the main benefits from this, although there could be spin off residential market benefits in other Towns in the borough, as well as for Towns in neighbouring boroughs such as South Lakes and Allerdale as a lot of the nuclear workers may choose to live within the Lake District National Park area rather than the coastal areas."

RICS Chief Economist, Simon Rubinsohn said:- "While for individual businesses, the rise in rental values might not be particularly welcome, as a bellwether for the UK economy, the survey highlights some very reassuring growth patterns. Nationwide, we're seeing a solid increase in demand for commercial properties across retail, office and industrial sectors. In other words, at the moment, however badly rental costs might pinch, they do not appear a barrier to growth."

Appeal for Information following criminal damage to cars in Sefton

MERSEYSIDE Police Detectives, in the Sefton area, have arrested 2 males, both aged 20, from the Vauxhall area, following a number of incidents of criminal damage against cars on Monday, 2 November 2015. The 1st incident took place just before 10pm, when officers were called to Sankey Road, Maghull to reports a Ford Fiesta had been in collision with a wall. There was no 1 injured during this incident and officers believe the car was damaged by a 2nd vehicle. A short time later, just after 10pm, officers received a report that a BMW, parked on Dodds Lane, Maghull, had also been damaged by another car. Again no 1 was in the car at the time and no 1 was injured. Then at around 10.15pm on Sherwoods Lane, Fazakerley a 3rd car was damaged, again this appeared to have been damaged by a another vehicle whilst it was empty. Officers were then called to Whitefield Drive, Kirkby, at around 10.55pm, to reports a Ford Fiesta had fireworks had been thrown at it. No damage was caused to the vehicle and no 1 was injured. The final incident took place at around 11.40pm, officers were called to reports of a Ford Kuga being set alight on Satinwood Crescent, Melling. No 1 was injured during the incident, but extensive damage was caused to the car. At this stage detectives are treating all 5 incidents as linked and believe them to be targeted. Enquiries are on going at this time; crime scene investigators have been in attendance at each of the scenes, CCTV is being sought from across the area and house to house enquiries are on going. Detective Inspector Jimmy Belmar said:- "We are appealing for anyone who was in the area of any of these incidents to come forward. A car being deliberately damaged by another car or indeed set alight, is going to make some noise and I'm sure if you saw or heard anything suspicious you'd remember it. Thankfully no one was injured during these incidents, but this could have been more serious, especially the incidents where the cars have been fire damaged. We are particularly keen to speak to anyone who saw a Ford Kuga or a Mercedes car in the areas where the incidents took place. Anyone with any information, no matter how small, is asked to contact Sefton CID on:- 0151 777 3823 or Crimestoppers anonymously on:- 0800 555 111."