The safest freehold on the parade isn't the busy café — it's the dull office above it.
A private CRE acquisition team was screening a London freehold and asked one question — of the units in budget, which is the safest place to put the money? The instinct says the trophy café or restaurant parade: you can see the queue. Read by tenant type, the consumer-traffic and tenant-formation signal pointed the other way — and then added a twist the category rule alone misses.
Commercial property means retail and F&B. A busy café parade is the safe buy — you can see the queue.
Read by tenant type, F&B premises re-let three to four times faster than professional, medical and personal-care units — and the worst F&B formats nearer ten. The steadier, lower-churn tenants are the unglamorous ones: the dental clinic, the accountant, the barber. They also carry the lightest fit-out on each change.
True annual re-letting frequency by tenant type — Greater London, latest 12-month window, measured as closures against the active base. A restaurant re-lets roughly twelve times as often as an accountant and eight times as often as a dental clinic — the demand-side risk a yield or a footfall count can't see.
The tenant-type rule still holds inside any borough — but whether the use-class is filling or emptying is set by the catchment, not the category. And where it fills, consumer experience quality runs higher too. Realytics reads both; your advisers overlay the rents, yields and valuation.