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.
Record year expected for the UK’s commercial property
The UK’s commercial property market is all set to register a record-breaking year, new figures suggest.
It emerged earlier this month that deal volumes at the end of the third quarter had already passed the £50billion mark.
If, as expected, investment in the final three months of the year follows a similar trend, then the market will break the £70billion barrier for the first time ever.
Savills Estate Agents said that commercial property continued to outperform expectations, although they warned there were factors that could have a possible influence on the market.
Kevin Mofid, the firm’s research director, said: “Investors should consider the potential impact that the extension of commercial to residential permitted development rights could have on rental growth and vacancy rates in regional office and industrial markets.
“Nonetheless, given that investors currently place UK property head and shoulders above other asset classes, we don’t envisage that these measures will materially affect investment activity going into 2016.”
The most popular sector for investment remains retail and leisure, accounting for 57 per cent of transactions.
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 or contact Gareth Williams, Bharat Nahar or Susan Voice.
Commercial property and premises are a vital part of most businesses.