Those with the cash to buy commercial property as an investment have been advised by one expert that there has never been a better time to do so.
Darren Owen, director at Property & Finance Solutions, explained that snapping up a commercial property for the purpose of renting it out is a profitable option, even in the current economic conditions.
Owen said that there has never been a more lucrative time to do this, providing buyers have the cash available to them. However, the industry chief added that people must appreciate that buying commercial property is a long-term choice, not a short term fix and their money will not be freely available immediately. ‘Once you buy a property, that money is tied up; you really have to appreciate that the money is gone and you can’t really pull it out for 12 months realistically,’ Mr Owen noted.
Barratt East Midlands recently revealed that an increasing number of people are showing an interest in investment property.
This advice seems to be reinforced by foreign investors who are presently snapping up huge amounts of commercial and office properties, particularly in Wales, according to some reports, with cities in the South of Wales, such as Cardiff, being cited as popular. Research conducted by the County Homesearch Company, found moneymen from countries such as China and Russia, as well as the Middle East, have been active in the region’s property market.
In addition to the surge in foreign investment arriving into the UKs commercial property market, there has also been an upturn in local purchases. Which, coupled with a shortage of stock, has meant many commercial properties in South Wales are achieving their asking price shortly after going on the market.
Carol Peett, director of County Homesearch West Wales, said: ‘The area’s recent rise to fame in blockbuster films including Harry Potter and Ridley Scott’s Robin Hood, has seen a number of buyers from across the globe being won over by the stunning scenery and are looking at it as a place to work from.’
