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.
Rush for London’s commercial property
The city’s property bubble shows no signs of bursting, with one young entrepreneur having highlighted the fierce competition that businesses face to find a suitable premises.
Charlie Gilkes, who founded a company which runs a number of popular nightspots, has claimed that every business owner looking for an appropriate site in prime central London can expect to face competition from more than 100 rivals.
Mr Gilkes told the Daily Telegraph that it was a scramble to secure a premises which will deliver high footfall.
His comments about increasing demand would seem to be backed up by the latest figures from the Royal Institution of Chartered Surveyors (RICS).
Enquiries about office space and the investment market were up 79 per cent and 70 per cent respectively, with a particularly high volume of enquiries coming from overseas.
RICS chief economist Simon Rubinsohn said: “The results of the latest survey suggest the price of commercial real estate will continue to move higher over the next 12 months and quite possibly by another 10 per cent.
“The feedback we are getting tells us that the economic expansion is continuing to broaden out with tenant demand and, just as significantly, investor interest, rising in all areas.”
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.