Real Property Beyond London

In the UK, London has long been at the center of the international investment and the national commercial real estate market. The commercial real estate marketplace is still seeking firm ground after being rocked in 2008. The global real estate appetite has been abnormally low as property owners scramble to regain some of their equity after suffering devaluations as high as 40 and even 50 percent at the recession’s outset.

The instability of the London commercial real estate market has caused diminished investments from international investors. Simply put, demand for commercial real estate is low and supply is high in every sector of the industry.

London Weighing Heavily

Unfortunately, the lack of demand in London has caused a nationwide malaise that has presented major challenges for commercial brokerages that specialize in areas outside London. As in London, outlying UK commercial agencies traditionally handle a number of important functions.

  • Office property
  • Retail property
  • Industrial properties
  • Warehousing
  • Research and development properties
  • Land development
  • Mixed use properties

Prudent commercial agencies have been successful partnering with Business Rate specialists. These Business Rate specialists bring viable financial solutions to commercial property owners. Working in concert with the property owner, the broker and the rate specialists can help to lower existing business rates and have had success procuring refunds dating back to 2005.

Outlying Areas Coming Back

Although below pre-recession levels, commercial real estate activity beyond London has begun to see upwards movement. Many commercial real estate brokerages have been called upon for feasibility assessments for property development purposes and for analysis regarding the acquisition of strategic commercial properties.

Due to the 2008 devaluations, experienced commercial brokerages have been called upon to review portfolios and appraise the values of real property in the individual or institutional portfolios. The importance of these valuations is critical for clients who need to understand the value and diversity of their real property holdings.

One sector of commercial real estate that has bounced back is the leasing market. UK commercial brokers are actively negotiating new leases with landlords and tenants. Additionally, there is great demand for renegotiations of existing leases prior to renewal dates. Lease restructuring has been especially active since immediately after the recession began as companies large and small scurried to reduce costs and pare employees.

Commercial real estate brokers outside London have remained active as they help clients navigate through the nation-wide challenges of the economic downturn. Now that the haze of the recession is beginning to lift, these brokers have numerous appealing properties for businesses and investors alike.

Image source: http://upload.wikimedia.org/wikipedia/commons/6/63/Bloomsbury%2C_Doughty_Street%2C_WC1_-_geograph.org.uk_-_667848.jpg

Please visit the website of Meeson Williams if you wish to learn more about commercial property in Oxford and beyond

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