Demand for commercial property in the UK is growing close to its fastest pace since 1998 and, along with a surge in investment, reflects the widening economic recovery according to RICS.
In Q1 2015 the UK saw its 10th consecutive quarterly acceleration of demand for commercial properties, with 46% more respondents seeing greater interest. Interestingly, this points to stronger increases in employment with this series providing a two to three quarter lead on official jobs data compiled by the ONS (Office for National Statistics). Continue reading →
The London office market produced its best performance since 2000 last year with take-up of office space in central London rising by 16% to 15.9 m sq ft, according to new figures from Knight Frank. This is well ahead of the ten year average figure of 13.0 m sq ft.
Tenant demand for commercial property rose, across all sectors, for the seventh consecutive quarter according to the latest RICS UK Commercial Market Survey, with 40% more surveyors also reporting greater investment interest.
In the occupier market, expectations remain generally buoyant. Across the whole of the UK, a third (33%) more respondents expect commercial rents to increase. Continue reading →
Today, Monday 26th January 2015 sees the launch of controversial new property portal OnTheMarket.com
Founded by; Savills, Knight Frank, Strutt & Parker, Chestertons, Douglas & Gordon and Glentree Estates this new entrant is their attempt to break the duopoly currently held over estate agents by Zoopla & Rightmove. Continue reading →
A new in-depth study into the state of British high streets has revealed how town centres are adapting to meet the changing demands of the nation’s consumers.
Researchers at the University of Southampton have revealed how ‘fundamental’ changes to Britain’s ‘convenience culture’ are transforming the way we shop and bringing new business into town. Continue reading →
Demand for retail premises saw sizable increases right across the UK towards the end of last year as economic recovery began to gather pace.
However, with the reading of the Water Bill (27 January) determining that commercial property in flood risk areas will soon not be entitled to compulsory insurance cover, only time will tell what impact this has on regional recovery. Continue reading →
According to the latest research from Savills, shopping centre investment volumes in 2013 reached £4.58 billion, which is an 70% increase on the £2.7 billion traded in 2012.
The international real estate advisor also notes that this increased weight of capital attracted to the sector resulted in average initial yields in Q4 2013 moving in significantly to 7.6% compared to 8.94% during the same period in 2012. Continue reading →