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.
Renewed optimism about the UK’s commercial property
The number of commercial property deals taking place across the UK has reached its highest level since the credit crunch, according to the latest figures.
Data from HM Revenue & Customs (HMRC) shows that the number of transactions is up 24 per cent, to 115,4000 in the last financial year.
This is considerably more than the 92,900 in 2008/2009, when the country was in the depths of recession. Although the number of deals is still well down on levels before the financial crash.
Stephen Rees, Coutts Bank’s head of real estate, said that the market still exerted a powerful influence on foreign investors.
“Overall, we still see UK commercial property as an attractive asset class,” he wrote on his blog.
The Royal Institution of Chartered Surveyors (RICS) was also optimistic and suggested in its recent Commercial Property Market Survey that the prospects for 2015 looked very healthy.
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 or Bharat Nahar.