Optimism after a slow summer

PREDICTIONS that this summer's bonanza of national events would bring big benefits to businesses have in part been a bit of a damp squib.

Yes, the nation had a grand time waving their flags for the Jubilee and the Olympics but even businesses in the capital reported problems as tourists bypassed them and headed straight to the Olympics Park.

But what has been the effect on the local commercial property market?

Scotts Property LLP said activity had not differed from the traditionally quiet summers of years gone, but said it was now receiving increased enquiries at both its Hull and Grimsby offices from those seeking opportunities or those contemplating disposals.

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Partner Tim Powell said: "The current signs of increasing activity are very encouraging.

"To help with business generation and promotion of client properties we have invested in a new website which has been well received both by clients and enquirers searching for property across the Humber region.

"The signs are positive for the final quarter of 2012 and beyond as the renewables industry and focus on the Humber region continues to gather pace."

Nick Pearce, partner at PPH Commercial said: "There has obviously been the Olympics and other distractions, however there has been less people going away this year, so for us it has not been as slow as usual in August.

"I think we will see a steady increase in activity in the next quarter, but not the sharp increase we saw last year when we had three or four big deals complete in a matter of weeks.

"There was a bit of a space race towards the end of 2011 as there was limited supply of grade A office space, so businesses had to move swiftly."

Carl Bradley, of Clark Weightman, said: "Normally in September people come back from holidays refreshed and with an appetite to get on and do things.

"I think it will be similar this year, though I do think people are looking for strong leadership and good news from the Government to give them motivation for doing business."

David Garness, managing director at Garness Jones, said he expected activity to return to levels similar to those seen in 2011.

"Decisions about property are often big decisions, and require a number of parties to come together.

"Summer is always a quiet time for the market, but this has been affected somewhat by the Olympics and other events, so coupled with holidays it is has often been difficult to get everyone in the same room at the same time.

"However, in the last few weeks we have seen a surge in demand for reasonably sized office requirements. We were extremely busy from last Autumn up until Christmas and I expect this to happen again this year."