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MORGAN & CLARKE SEPTEMBER 2014 NEWSLETTER NO. 35
Pigeon House, The Broadway,
Oakridge Lynch, Stroud, Glos. GL6 7NU
September has been a month of mixed messages with no great consistency within the general tenancy / leasehold market. Recent figures issued by the giant multiple operators does indicate – as outlined in previous Newsletters – that there is a continuing but small, year-on-year expansion in their market penetration. Value for money does appear to be a substantial market force, with meal deals – especially at lunch time and early evening – being extremely well-received. The ability of individual tenants or small multiple tenants to keep up with the obvious success of the large, high street branded operators, is not an easy task. To our continued wonderment, central London forges ahead of the rest of the UK with general trade levels still apparently increasing. We are not doom and gloom merchants, but the overheating of the London market cannot surely continue at the same pace year-on-year. This is with the exception of the tourist perception of value for money which, of course, is linked with the Sterling Exchange Rate and the current “considerations” milling around the currency market over the stability of the UK economy. Morgan & Clarke do not ‘do’ politics, although the next few months in the run-up to the General Election in May 2015, looks like being challenging if interest rates ease upwards. MORE