Consumer Escort

Town Centre Securities has predicted that the Piccadilly Basin, Manchester will soon be a sought after location for retailers as interest in properties here is seen to be picking up. The company has significant interests here and has made some good deals over the past few months leading to the positive view.

There is about 115,000 sq ft of office space here in Piccadilly Basin area which is ideal for retailers. Of the available spaces here, about 15000 square feet is set to be occupied by the food store Aldi. This will include shared office space, which was occupied by Ilva prior to the recession.

TCS, which recently sold two of its assets, is expecting its finances to look up and its portfolio to show a positive growth too by year end itself. When compared with previous negative figures this will indeed be a huge boost to the company’s image and standing in the market.

The sale of a studio and offices brought in 9% of a £6.9m deal into the TCS books. The Deansgate office block sale where top floors where sold for £1.7m, brought in 7%. Lower floors here are still tenanted by Staples UK and Cotswolds Outdoor. Speaking about the current trends and future expectations, TCS spokespersons said that the economy is still quite volatile and the company will definitely not choose to be complacent now even if the profits are coming in. While the time is right for acquiring new business space, it is also going to be a prime concern of the company to keep existing tenants paying rents consistently and accurately.

This entry was posted on Friday, December 4th, 2009 at 12:47 pm and is filed under Biz Ops, Plugging, Real Estate Info. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.