London’s commercial property market seeing “unprecedented” demand | 23 July 2013
London remains one of the world’s premier spots for living and working, which is driving up demand – and price – in the capital, stockmarketwire.com reports.
his is the condition that FTSE 250 property company Shaftesbury PLC has claimed London currently finds itself, especially in the West End where demand is even higher still. Shaftesbury claimed that London’s “flourishing” conditions mean that the number of investors turning their attention there have reached “unprecedented” levels.
The property giant went on to claim, however, that despite high demand pushing up prices, investors were often finding themselves struggling to find the right place as owners are unwilling to sell. Whilst not ideal for investors, it does hint at a market that is not only strong now but could continue to grow further still over the coming years.
With buyers not willing to move, this could start a trend for redeveloping properties in order to get as much out of them as possible. Existing properties in popular locations such as Carnaby Street now look set to undergo large-scale amendments to make office, residential and retail spaces.
Commenting on the trend, a Shaftesbury spokesperson told guardian.co.uk: “London continues to attract unprecedented levels of interest from across the world from businesses choosing to locate and invest here, from visitors seeking to experience its unrivalled variety of attractions and from those who live and work here.”
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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