Recent research has shown that all major cities have seen a drop in commercial rents except Manchester and London. The gap betweenLondon and the rest of the country is becoming further pronounced.
London still managed to show great demand and positive rental growth in 2010, while Glasgow, Edinburgh, Leeds and Birminghamlagged behind.
One inside source said, “the research has shown that every large city, except Leeds, have had a greater amount of leasing activity year on year despite the low levels of occupational demand’.
London has recorded the highest growth in rental levels with strong growth in the West End. Manchester has been one of the few Cities to record a stable rental growth outside the capital.
2012 is said to be the year of improvement because of the lack of speculative development and existing space being taken up quickly.
This should create a platform for rental growth in around 24months. London is expected to show positive growth with all the other regions stabilising over time.
“2011 will be all about gearing up for the expected rental growth next year” one source has said.
LondonCommercial Property
Recent research has shown that all major cities have seen a drop in commercial rents exceptManchesterand London. The gap betweenLondonand the rest of the country is becoming further pronounced.
London still managed to show great demand and positive rental growth in 2010, while Glasgow, Edinburgh, Leeds andBirminghamlagged behind.
One inside source said, “the research has shown that every large city, except Leeds, have had a greater amount of leasing activity year on year despite the low levels of occupational demand’.
London has recorded the highest growth in rental levels with strong growth in the West End. Manchester has been one of the few Cities to record a stable rental growth outside the capital.
2012 is said to be the year of improvement because of the lack of speculative development and existing space being taken up quickly.
This should create a platform for rental growth in around 24months. London is expected to show positive growth with all the other regions stabilising over time.
“2011 will be all about gearing up for the expected rental growth next year” one source has said.
2.
Office space in Croydon bought for £78 Million!
Clal and Harel have bought two commercial properties in Croydon, with both firms now having two properties in the UK.
Apollo House andLunar Houseare now under Israeli ownership after they took over the running of the buildings from Green Property.
There is a combined total of 440,000 square feet of office space and it comes as no surprise, that there has been a long history of interest in these buildings due to covenant strength.
The buildings are situated towards the North of Croydon’s town centre and are fully let until 2023, as the UK Borders Agency has taken up residence there. The lettings have been booked without any breaks, offering superb value.
3.
Central LondonOffice Market
The demand for commercial property in thecentral London marketremains strong leading to low vacancy levels. Construction ofSt MartinsSquare Courtyard is complete. This is a joint venture betweenShaftsburyand the Mercers Company. They have declared that 94% of the commercial space is now either let or under offer.
Shaftsbury said investment activity in the west end was returning to normal levels. Since 1STOctober the Shaftsbury Company has spent £30m on purchases “all of these properties are producing satisfactory initial income”
These are encouraging signs for anyone involved in commercial property. This upturn in the market also further increases the necessity and utility of movehut, as we bring interested parties together, and lower transaction costs. If you are looking for the perfect commercial property or serviced office then take a look at our website,www.movehut.co.uk
Previous Post
Route confirmed for Olympic cycling road races
