Christie + Co, one of the leading property agencies working in Scotland has launched its 2013 Business Outlook with a claim that the market is finally emerging from “the trough” with prices having “hit the bottom of the valuation curve”.
Overall transaction values were down 0.9% in retail (versus -3.6% in 2011) with the convenience industry bucking the trend in 2012. However there were 9.7% more transactions recorded by Christie + Co.
In the last five years only 2010 saw an increase in the prices of business property sales and 2012 saw a dip of 2.48% on average.
The report says that while convenience operators continue to be threatened by supermarkets seeking a foothold in small premises, a shift towards symbol groups will see the independent sector strengthened.
The company predicts that this migration will continue in 2013 while it also suggests that one major retailer will trial the post office local format.
The report also highlighted continuing difficulties for forecourt retailers as supermarkets reaffirm their commitment to using fuel incentives to lure grocery shoppers.