Accrington is a small town in Lancashire, tucked away between Blackburn and Burnley. It is a typical old mill town with rows of terraced houses and shops, it also has many very imposing former mill buildings scattered around the area. Many of the old mill buildings have now been modernised, mostly into commercial accommodation and some into apartments.
In fact, if you exclude the new out of town shopping complex, the majority of the commercial property (real estate) in Accrington was built in Queen Victoria’s reign. There are many very magnificent buildings including the old Town Hall and the Market Hall, both of which are situated in the centre of town on one of the main thoroughfares, Blackburn Road. The newer pedestrianised area and covered precinct known as the Arndale Centre are the exception to the rule as they are far more ‘modern’, these areas are now the main shopping area for the town. By comparison to bigger towns and cities, Accrington’s heart is quite small but very well formed. There is however plenty of room for expansion and the local council have been looking into how they can incorporate larger shops into their precincts.
Accrington has many wealthy people who live in its catchment area and these people are not very well catered for in the shopping precinct. There are a few specialist shops in the trendy Warner Street area, including local celebrity hairdresser Paul Freely, who has coiffured the hair of many ‘A’ list ‘celebs’ both sides of the Atlantic, but there is still a definite shortage of niche shops and businesses.
Instead of following every other town centre with their rows and rows of the same old shops that are in every other town centre, I believe Accrington should embrace it’s roots in smaller shops and aim at being the Covent Garden of the North. Manchester is only 22 miles to the South of Accrington and Preston is 20 miles to the West. So there is no shortage of large shopping precincts for those that crave retail therapy.
In conclusion, Accrington is a quaint town with its roots well established in history, a history that should be embraced and used to make it stand out from the crowd. The town is surrounded by beautiful countryside in all directions and lovely villages with cosy pubs just waiting to feed and water tired shoppers on their way home from shopping. Accrington is the place to be if you have an idea for a niche business, whether in the retail or manufacturing industry, Accrington would welcome you with open arms.
The Caribbean continues to be a booming market for real estate, in general, owing to the steady influx of tourists and immigrants who stream into this exotic group of islands year in and year out. Home of many beautiful beaches, the countries of the Caribbean attract thousands upon thousands of people every year to their beautiful shores.
The commercial real estate industry in the Caribbean is currently very strong. Analysts predict that the said market can only get stronger with time. Commercial real estate in the Caribbean is readily available for investment purposes. An individual can choose to invest in an established location and be sure to receive large returns. On the other hand, one can also choose to buy in bulk, and receive large returns when reselling the property.
At present, the cost of commercial properties in the Caribbean remains low. This is especially true in the Caribbean coastal regions of Central America, such as Costa Rica, Panama and Honduras. Also, other countries in the Caribbean are becoming hot property, including Grenada, Belize and the Dominican Republic.
Although the costs of these properties are low, their values are gradually appreciating. As such, one can opt to invest in a small piece of land at present and receive a large return of investment in the future.
There are also several areas in the Caribbean that already have an established commercial real estate industry. The more expensive markets in the Caribbean include Puerto Rica, the U.S. Virgin Islands and Jamaica, to name a few. Commercial real estate in these areas generally cost more than the rest of the Caribbean countries because they tend to attract more tourists throughout the year. Also, more affluent travelers tend to frequent the areas. For this reason, these areas have high-end accommodations and five-star hotels scattered throughout.
The Bahamas remains to be one of the hottest areas for the commercial real estate industry in the Caribbean. Rest houses and vacation rentals are almost always filled to capacity throughout the year. At present, there is a growing number of the retiring population interested in residing in the Bahamas. This adds another group to the already large market for commercial real estate in the Caribbean.
A number of investors bringing their money into Caribbean commercial real estate are getting attracted, not only by the gorgeous beaches, but also by the tax policies in certain Caribbean countries. Take, for example, Belize. Belize has a taxation framework that aims to promote international business and trade. No inheritance taxes or capital gains are required in the country.
Another attractive fact about commercial real estate in the Caribbean is that certain countries, such as the Commonwealth of Dominica, allow investment for environmental purposes. The lush surroundings allow this specific form of investment. In the Commonwealth of Dominica, investors can opt to buy certain rainforest land, which may be used for environmental and tourism-related projects.
The natural beauty of the Caribbean and the large market that it serves ensure that Caribbean commercial real estate industry will not slow down any time soon.
Both Gary Marshall & Seth Willis Jr. are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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