Commercial property sector is "evolving", says Trafford
The economic downturn means the East Midlands' commercial property sector is going through a process of "polarisation", according to Charles Trafford of Nottingham-based property agent Trafford Oliver. Trafford told Insider: "The landscape of the property market is changing – firms are evolving."
He said: "We have also seen the various mergers and takeovers and with it the ongoing demise of the old-fashioned partnership. There is definitely truth in the phrase ‘safety in numbers’. In a tough market, partners of firms are at a greater personal financial risk, and a way to lessen this burden has been to join forces with other agencies."
He added that although large-scale mergers like Jones Lang LaSalle and King Sturge were likely to continue going forward, there was enough room in the market for all players.
He said: "There is room for everyone. We are already starting to see the polarisation of firms in the regions where we have large corporate agencies coming together on one hand and independents on the other."
Trafford set up Trafford Oliver in Nottingham earlier this year after a spell as a director in Birmingham with Bartlett Property. Before that he worked for Innes England for six years.
"I have experienced the corporate world, which has its advantages, but comes with plenty of different issues. My long-held ambition was to set up on my own," he said. "It was impossible to judge the ideal time to do this, but I think if I can make it when the market is tough, then when things do recover, I will be well placed to do really well.
"I am keeping my overheads down, concentrating on looking after my existing clients as well as generating new business. I am confident I will be able to weather the storm and turn Trafford Oliver into a success."
