The Retail and Restaurant Market in Oxford, by Tim Norris-Jones

The ongoing pandemic is affecting all areas of the property market, none more so than the retail and restaurant sector. However it should be remembered that the bricks and mortar retail market was facing serious challenges long before anyone had heard of Covid 19, due principally to the relentless rise of internet shopping and the burden of property costs, particularly business rates.

However we believe that there are grounds for cautious optimism going forward. Oxford is an internationally known City which will continue to attract students and tourists and as a result, demand will remain strong for ground floor premises. We have secured occupational lease deals on 3 of the vacant units in Golden Cross Court, off Cornmarket Street, with interest in the remaining 2.

The recent introduction of Use Class E whereby uses previously in different classes such as non- residential medical and retail are now amalgamated in a single class should help to bring a more diverse range of occupiers to high streets in general.

The Jesus College owned redevelopment in Cornmarket Street will restore some much needed vibrancy to this pivotal thoroughfare in the City Centre and the outdoor restaurant seating now available in George Street due to social distancing measures, gives a welcome boost to the atmosphere in the City.

It is our view that the City Council should engage with property owners in Cornmarket Street with a view to roofing over the street in order that this outdoor trade could flourish all year round.