General

Half-year report: Richard Sutton, Managing Director

As we enter the second half of the year, we’re taking a look back on the first six months in the commercial property world by asking our team how they’ve seen the market.

First up is Richard Sutton, Managing Director.

What’s your name and speciality at NG?
Richard Sutton- bringing on the talented people we have

How was the first six months of the year in commercial property for you?
Not too bad, it felt a bit like 2018. It’s just we had a relatively strong period 2020-22.

What trends are you seeing emerging?
Working from home is still having an impact on companies’ property strategies into 2023-24. There is a trend for less but better space whether in the city core or on the fringe. Smaller companies are favouring less central locations

What are the biggest opportunities and challenges facing those with a property portfolio at present?
It’s all about balance; look after your office occupiers and don’t screw over the industrial and retail ones. New opportunities are few and far between so be creative and work with what you have. Don’t be afraid to call time on some investments and trade them.

How do you see the second half of the year progressing?
I think slightly stronger than the start – don’t be afraid.