The retail property market in Henley is outperforming that of similar towns, according to a new report by consultants and Thames Tap partner Hicks Baker.
Its Market Commentary bulletin by retail director Fiona Brownfoot says the town has benefitted from its rents being 30 per cent lower than in Marlow, yet while the Buckinghamshire town has experienced a rental decline in the last 18 months, those in Henley have remained stable.
Ms Brownfoot said: “Competitive rents have meant that it is more affordable for tenants when they have to navigate their way through a turbulent trading period.”
Although rents are stable, yields in Henley are increasing and Ms Brownfoot says investors which already own property in Henley are seeking to buy more. Four out of five bidders on one property Hicks Baker is marketing in Reading Road, are owners of other sites in the town.
She said the town is a desirable trading and investment location.
The report goes on: “It is too early to see the impact of Harrods opening on Market Place, however the launch of the café in October was their first standalone café outside London and will no doubt bring both an excellent customer experience and a USP to the town centre.”
Further positive signs for Henley include the return to the town of Paperchase, which left its Bell Street unit this year, and a new steak and seafood restaurant called Shellfish Cow which opened on December 18 in Reading Road. The Monsoon Accessorize unit on the corner of Bell Street and Hart Street is under offer to Côte Brasserie.
You can download the report here.
* Image: Google.
© Thames Valley Property No 192 (tvproperty.co.uk)