As the UK economy continues to flourish will confidence and investor interest in the commercial property sector continue to grow? Spring is almost upon us, the sunshine has made an appearance clearing the grey skies of February and we can look forward to bursts of colour on the horizon this month. The economy continues to flourish but will the commercial property sector grow with it?
According to a report issued by Schroders(*), London experienced the strongest rental growth in 2014 and they expect another solid performance from the UK commercial real estate this year as low levels of development means that the balance between demand and supply is now swinging in favour of commercial landlords.
Commercial real estate advisors CBRE(**) also predict a return of confidence and investor interest in prime commercial and industrial property.
CBRE is the world’s largest commercial real estate services and investment firm. They do warn however that the prospects for retail property remains uncertain which would appear to be an accurate forecast considering the blight currently faced by the larger grocery retailers with the planned closure of many stores.
Overall, the commercial property market seems to have sprouted new life in 2014 and continues to grow. Last year was certainly an exciting and busy year for our Commercial Property Department and we hope that the market continues to bloom in 2015 and beyond.
If you want to join the investment property revival make sure you have an experienced commercial property lawyer in your team. Our Commercial Property Department is recommended by The Legal 500 UK and would be happy to discuss your needs.
(*) Outlook 2015 UK Commercial Real Estate
(**) CBRE Outlook for 2015
This article was written by Keeley Miller, Associate Solicitor in the Commercial Property Team at Pinney Talfourd. This article is only intended to provide a general summary and does not constitute legal advice. Specific legal advice should be taken on each individual matter. This article is based on the law as at February 2015.