By Andrew Kilpatrick BSc FRICS ACIArb IRRV, Partner of Thompsons

Whilst the recession is undoubtedly posing some very difficult questions and making trading conditions challenging for all of us, at least the weather has improved! Spring is on the way at last and hopefully that will lift a little of the gloom, whilst we grapple with new phrases like ‘Credit Crunch Aftermath' and ‘Quantitative Easing'.

Whilst conditions in Swindon's commercial property market continue to be challenging, deals are still happening, albeit often frustratingly slowly. Recent successful deals by Thompsons include the letting of a shop in Havelock Street, the acquisition of a pub in Old Town, Swindon, the letting of a shop in Maidstone (on a 35 year lease, which must be a record in the current conditions!). We have also sold a restaurant investment in Cirencester. Thompsons also have under offer shops in Gorse Hill and Old Town, Swindon, a shop in Cirencester and a unit at Malmesbury Town Hall.

A short stroll through Swindon town centre will show the recession is affecting Swindon, just as in many towns across the country, with an increase in vacant shops. Swindon's casualties include shops once occupied by Woolworths, Adams, Zavvi, Whittards and Officer's Club. The future of the Woolworth's warehouse at Greenbridge is also uncertain as is MFI's retail warehouse at Mannington.

Thompsons' new instructions include a sandwich bar in Swindon, a restaurant in Cirencester, a shop in Wootton Bassett and an investment property in Cirencester. We are still looking for new properties to market, so if anyone has surplus property to sell or let, please ring Stephen Brickell on 01793 643101.

Thompsons have also been busy successfully concluding rating appeals, rent review and lease renewals in various locations, including in Chelmsford, Croydon, London, Marlborough, Reading and Swansea, in addition to a number around the Swindon area. Our dispute resolution service is also being kept busy with Andrew Kilpatrick having made arbitration awards on properties in Reading, Salisbury, Oxford and Cheltenham since Christmas, with 3 more under preparation.

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