Jun
26
Credit crunch commercial property successes
By
The UK recession isn’t easing. Unemployment has officially overshot the two million mark, redundancies have reached a record high and the value of the pound is plummeting fast.
Despite these gloomy statistics some industries are literally thriving as a direct result of the adverse economic conditions. The budget sector in particular is enjoying record growth with companies such as Travelodge planning massive commercial property expansion. The budget hotel chain has exchanged on twelve new hotels recently and is expanding into prime locations that pre recession would have been unavailable to them.
Poundland, Aldi, Lidl and Cost Cutter are also amongst the credit crunch winners. Consumers are naturally looking for ways to make their lowering disposable income go further and are turning to budget providers. Aldi in particular are experiencing record growth and have extensive commercial property plans in place, with the aim to open hundreds of new stores throughout the UK over the next five years.
The recession has led many people to make lifestyle changes. Consumers are still looking for the same end result for example, a night off the cooking, but are now going for a cheaper alternative such as a takeaway pizza rather than a fancy meal out. Fast food takeaway providers are thriving as people opt to have a cosy night in with a takeaway over a night on the town. McDonalds alone have plans to open ten new stores in the UK in a big commercial property deal and DVD rental providers and board game suppliers are seeing unprecedented sales increases. At a time when fifty seven pubs are closing every month businesses such as DVD rental company The Movie Booth are looking to cash in on the new staying in culture. Introducing options such as the “great night in” package to their DVD rental range.
In another behavioural change consumers are helping to boost the sales of cheese and other sandwich fillings as they look to save up to £5 a day by preparing their own packed lunches, rather than buying prepared shop brought sandwiches.
Businesses that are in the commercial property industry are looking to cash in on these credit crunch success stories.
Repossession
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