Huge Increase In Office Rents Forecast For Croydon
Those property developers considering investing in commercial property with a view to generating investment income from rentals may be interested to read what Savills are forecasting may happen to office accommodation rental income in Croydon over the next couple of years.
It is their opinion that office rental income is set to increase by as much as 63% over the next 24 months. That is a very large increase. Currently average office rentals in Croydon are £263 per square metre (£24.50 per square foot) but this could rise to as much as £430 per square metre (£40 per square foot).
According to Savills, this rise would be the biggest of its kind in the UK mature property market.
Apparently, over the last couple of years, there have been a lot of new offices built in Croydon with more to come next year. The rental cost of office accommodation in Croydon is still a considerable amount less than in Central London so it is forecast that interest in such accommodation in Croydon is likely to increase.
Whilst there is no guarantee that such an increase will be seen as so many factors can affect such things it is certainly something that some property developers may wish to research further.
If you are considering purchasing a commercial property such as an office development whether it has yet to be built or is an existing property then you may well be looking for finance to help fund the purchase. In that respect, you may wish to get in touch with us here at Commercial Mortgage Link and we can put you in contact with a specialist who will be able to discuss your borrowing requirements in this respect. With access to an extensive panel of lenders at their disposal, this provides every opportunity of sourcing a competitive development finance package that is tailor made to meet your exacting requirements.