By Laurence Grahams
What has fuelled the commercial property recovery?
The thirst for this can be largely attributed to the growth in the British economy. In January 2014, the Confederation of British Industry (CBI) said business is enjoying its strongest growth since the financial crisis. This news was swiftly followed by positive statistics from the Royal Institution of Chartered Surveyors, who said in the final quarter of 2013 demand for shops and industrial units rose at their fastest pace for at least 15 years.
How is London performing?
Estate agents in London are reporting a rise in demand for both office space and retail units. As UK companies regain confidence and global businesses continue to choose London as their base, the desire for new, state-of-the-art offices is picking up pace. The City remains a firm favourite with businesses, developers and landlords, and some of London’s most prestigious buildings – such as The Shard and 122 Leadenhall Street (informally known as the Cheese Grater) – are back on the radar in terms of occupation rates. Although activity is brisk in the City, there has also been renewed interest in commercial space in outlying London suburbs.
The retail arm of the London commercial market is also experiencing a renaissance. Closely linked to the economy and people’s disposable incomes, the more positive financial outlook is stimulating optimism among shoppers, retailers and investor. In fact, RICS saw a rise of 46% in enquiries about retail space in the last quarter of 2013.
Interested in commercial property for sale or to let?
It is a niche market and anyone thinking of buying a property for sale should seek a specialist agent. London commercial estate agents can advise you when to buy and sell this type of property for maximum returns; can advise on rent reviews, negotiate lease renewals and help guide refurbishment plans so they add the most value.
It is likewise for commercial property to let. Landlords and prospective tenants should look for an agent with a strong history in this type of property, especially in their chosen location.
There are lots of most respected estate agents operating in South West London, where demand for commercial property is high. The commercial premises in SW19 and surrounding areas provides high-quality, flexible accommodation in a well-located part of London. These commercial property estate agents hold a number of properties for sale and to let, including retails units, serviced office, warehouse space and light industrial premises.
Laurence Grahams is a London-based property consultant, specialising in commercial property in South West London and Surrey. He speaks regularly with London Commercial estate agents about market trends and available commercial property for sale in London and Home Counties.
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