Kings & Co Lettings + Local Property Developers Make a Winning Team

March 4, 2012 - PRLog -- With the social trend moving ever further toward internet and supermarket shopping the demographic of the city centre in Norwich and indeed other citys across the country is changing.  Exacerbated by the recent economic downturn, a gradual evolution in the high street has been forced to gather pace.  Presently many smaller retailers and even some of the larger chains face bigger challengers due to customers migrating to the web or choosing to shop out of town at retail complexs or shopping malls.

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For the city centre this poses several commercial challenges... Can commercial landlords continue to rely on retailers being able to afford their rents, rents which are premium priced based on location?  Certainly the trend seems to be that of those shops vacated, not all are re-let and if they are then often not at the same letting rates as before.

Aside from business and commercial aspects there's also a social trend developing, the public do still want to be in the city centre and that feeling of being at the centre of a collective hub is all pervasive and unlikely to ever change.  The retail industry is now not one of those drivers, in future you can expect the attractors for the city to be ever more the service and entertainment industry rather than things retail related.  For example, the rise of the coffee shop society and an increase in restaurant numbers are two examples we can observe today and we can also expect a growth in more recreational facilities in future.  It is this trend which is most interesting and offers some respite to commercial property owners.

In changing times there is always opportunity and savvy property developers are recognising this, spotting opportunity to either re-invent commercial property or turn it into character residential property for letting.  For example redundant pubs can make a great residential home or tired retail premises can be converted into multiple offices to launch new entreprenurial businesses.

Kings & Co Norwich is working hand-in-hand with several property developers in Norfolk to assist with this evolution.  Norwich is a fine city and by making best use of the property that constructs it we can rejuventate our environment both materially and socially.

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Lettings and Property Management agent in Norwich. Servicing landlords for full management and tenant find. Kings & Co is family of landlords bring their experiences to help other landlords.