Good news for the commercial property market

The impact on residential property, particularly in London’s most exclusive suburbs, was immediately apparent – with a flurry of transactions once the result became clear.

But experts believe that there are also encouraging signs for retail and office premises.

James Roberts, chief economist of real estate firm Knight Frank, said: “There is good reason to now suppose the UK economy, that appeared to slow in the run-up to the election, can now resume a strengthening recovery. This will be good news for both the commercial leasing and investment markets,”

However, Mr Roberts warned that future uncertainty may yet lead to ups and downs in the market over the course of the next five years.

The two factors which could have the greatest impact are the growing possibility of a second vote on Scottish independence, made more likely by the SNP’s landslide north of the border, and the separate plan to hold a referendum on the UK’s EU membership before 2017.

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.