Posted by Gareth Williams, Partner
On 1 September 2016 Withy King LLP merged with Royds LLP. The trading name for the merged firm is Royds Withy King. All content produced prior to this date will remain in the name of the firms pre-merger.
Another good year ahead for capital’s commercial property market
London is set to continue leading the way on commercial property rental growth in 2015, according to an industry expert.
Duncan Owen, head of real estate at global asset management specialists Schroders, said UK commercial property looked set for “another year of solid performance”, with total returns of between ten and 12 per cent.
He said: “We expect that total returns will remain in double figures but that rental growth will make a larger contribution. The balance between demand and supply is now swinging in favour of landlords and we anticipate that rental growth will accelerate.
“London experienced the strongest rental growth in 2014 and we expect it to stay in the lead over the next 12 months.
“In the office sector, the emergence of central London as a powerhouse for international accountancy, law, media and technology companies has pushed vacancy rates back down to pre-crisis levels, not just in the prime locations of the City and West End, but also in less established areas such as Farringdon, Kings Cross and the South Bank.
“Similarly, retail rents in many parts of London are rising on the back of strong population growth.”
At Royds, our Commercial Property team are available to advise individuals and businesses on lettings, leases and all aspects of property transactions. For more information please visit our website or contact Gareth Williams or Bharat Nahar.