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January 2015 - A month in the life of a Commercial Manager

January 2015 has started full of energy and positivity in our commercial department, following on from a great 2014. We have had four retail/ catering units let agreed in the first four weeks of the year and three high street/ secondary parade shops go under offer.

A1 Retail units continue to prove their popularity, followed closely by A3 takeaways, with demand soaring as the economy continues to recover. A particularly hot property we have been working on, was a unit on Acton High Street, previously marketed with a commercial agency based in Central London. Within short period of time from instruction, we had two formal offers, one from a dental practice and one from Estate Agency with four offices in North and East London. The Landlord was happy to proceed with the the offer from the Estate Agency and we are now nearing completion.

Within few days of being instructed on an A3 unit in Isleworth, currently being run as a take away, we had an offer from a well-known American Franchise based in the local area. An offer including a substantial premium for the goodwill was accepted with a target completion date of 30 days.

With good all-around consumer confidence and healthy spending patterns on the high street, there is evermore demand for new start-up business premises. With the high street out of reach for many start-ups, secondary parade units are proving very popular as well as office premises. We have certainly seen a surge in the sector over last four weeks and expect this continue to steadily rise throughout 2015.

We are looking forward to a great year ahead in our commercial department here at Thorgills