We are a dedicated team within the retail department advising developers, building owners and occupiers throughout the United Kingdom and Europe. Advice is given in all sectors of the leisure market including cinemas, bars, cafes, restaurants, health clubs, hotels, resorts, bowling, nightclubs and speciality shopping. The team buy and sell investment properties, advise on developments, act as letting agents and provide consultancy advice. Whether we are acquiring, disposing, valuing or advising on development it’s always our aim to exceed our client’s expectation and maximise the value of their property to their business.
In this note, we set out the key issues which Brexit is already raising for retailers. Migration controls and currency movements may mean workers are less ready to work in the UK retail industry, which may increase time and cost. Currency devaluation will also generate more general cost inflation, though not everyone is a loser from these effects, and cost increases may spur yet more innovation in an already dynamic sector. The good news is that this year isn’t all about Brexit. The bad news is there are other more pressing concerns in 2017, with the rating revaluation and apprenticeship levy among the factors which retailers will have to grapple with. As always in retail, the winners will be the most agile and forward-thinking.