The demand for retail property will remain strong in 2008, despite the many challenges facing the convenience store sector, according to forecasts by property agents Christie & Co.

Speaking at the unveiling of the group's Business Outlook 2008, director and head of retail Tony Evans said he was confident that "quality businesses in key locations would continue to sell this year". He added that leading retailers would continue to review their estates during 2008, prompting further disposals and creating acquisition opportunities for independent retailers.

The Business Outlook publication added that, despite a reported crisis in the financial markets, average retail property prices rose by 5.6% in 2007. 

"Despite a number of challenges during 2007, we are pleased to report that buyers are still responding to opportunities and deals are still being done. The UK economy has demonstrated its resilience many times in the past and we don't doubt that it will continue to do so during 2008," Evans said.

Christie & Co continued to sell a number of post offices across the UK in 2007, despite the threat of closures, and Evans added that available properties had continued to court interest at the start of 2008.

Topics