The number of independent retailers wanting to acquire a second site is on the rise, according to commercial property agent Christie & Co retail managing director Steve Rodell.
Speaking to Better Retailing at the Nisa Expo last week, he said: “We saw so many retailers enquiring about buying another site, which reinforces how robust the convenience market is right now. Independents are able to adapt quickly, and bring services to their stores that their customers want.”
Rodell advised store owners to take the right steps to ensure they are an “attractive applicant”. “My top tips for instructing an agent would be get them around to have a look; get on personally with the person who’s dealing with the property; and make sure you agree on the commercial terms,” he said.
When asked what advice he has for retailers on how to be a “good” applicant, Rodell explained: “Register with an agency and express interest. This shows us that you are serious about buying, and we are likely to communicate opportunities with you directly. Providing honest feedback is vital, as it allows us to negotiate with our client and manage expectations.”
He added: “Knowing what you can afford is important, and understanding budgets, so the agent can select you possible options.”
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