Survey Reveals Increasing Demand For Commercial Property
If you are considering buying office, retail or industrial premises for your business to occupy or as an investment to generate rental income and require commercial finance to help fund the purchase then you may find some of the information in the RICS Q3 2015 UK Commercial Property Market Survey of interest. Below we highlight some of the interesting parts to the survey that has been put together taking into account, amongst other things, the views of chartered surveyors from around the UK.
There is a good demand for such property but, unfortunately, there is an ever-decreasing supply of such premises. In fact, it is the tenth consecutive quarter that the availability of commercial leasehold property has gone down. This has the effect of increasing the value of such property as well as meaning that commercial rents are on the increase. This pattern is likely to continue for a minimum of 12 months.
The number of people from overseas interested in buying commercial property in the UK continues to go up. Perhaps this is one of the factors that results in property prices increasing.
Across the UK, of those taking part in the survey, 85% were of the opinion that commercial property values were either less than or at an acceptable level. Interestingly, in London, there was a slightly different view in so much as 62% felt properties were becoming too highly valued. In Central London, 37% were of the opinion that commercial property prices were almost at their maximum whereas throughout the UK only 8% of people taking part in the survey shared this opinion.
You can read the survey by registering for free on the RICS website.
If you are looking for commercial finance to buy such premises then you will no doubt be aware that there are an awful lot of lenders. In this respect, why not let Commercial Mortgage Link put you in touch with a specialist who can help you source a competitive commercial lending package tailor-made to meet your requirements.