Cardiff and Birmingham named as top performing cities | 14 November 2011
Birmingham and Cardiff have named as the top performing cities for commercial property investment in the last quarter.
A report by commercial property advisers GVA has revealed that these two cities were the most responsible for the huge recent spike in property investment over the past few months.
The report reveals that 1,940,000 square feet worth of British property changed hands in the country’s nine most active cities during Q3 2011, which is 22 per cent above the quarterly average.
Ben O’Connor, who is regional head of office agency at GVA’s Cardiff office, was keen to highlight the city’s achievements in helping to spark the economy into life.
He told Wales Online: “Cardiff city centre, along with Birmingham, has been performing particularly well over the past quarter. The city is demonstrating its strength, particularly in the call centre and professional services sectors. Occupiers benefit from the excellent buildings, as well as a strong workforce in the city.”
A report from the Birmingham Post has suggested that the city’s spike in activity is due to investors focusing on a different area of the market.
Speaking about the changes, Lambert Smith Hampton’s associate director. Adam Ramshaw, claimed: “We are seeing a move towards non-traditional areas of the market, such as leisure.”
Written by Jo Elvin on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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