Retail buildings in London fuelling UK commerical property growth | 14 July 2011
Growing demand for retail buildings in London is becoming the main catalyst for the growth of the UK commerical property industry.
Cityam.com reports that investors are very excited by the prospect of booming tourists levels during the London Olympics next summer, and are falling over themselves to get their hands on retail buildings in the capital.
However, a lack of opportunities in the prime areas of London has meant that many investors are having to bid extensive premiums to take leases off their current owners’ hands. This surge of activity has left prime rents skywards over the last couple of months, but many commercial property owners have decided to keep hold of their investment as they anticipate further rental growth.
Furthermore, a new poll featured on propertywire.com indicates that the commerical property market in London appears to be far stronger than in any other areas of the UK.
The survey of British property surveyors by the Royal Institute of Chartered Surveyors revealed that those with buildings in Greater London were more confident of rent increases than those with properties in any other UK region.
Written by Joe 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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