Commercial property prices around the UK

When you look at the market for commercial property in the UK, it has continued to change and evolve in recent times. A representative from Alchemis, who are based in the London, said that prices have continued to rise in the capital, which is little surprise as London remains a hotspot for some of the leading businesses in not only the UK but the world. The question then arises, has it been a similar story around the rest of Britain?

There has been much change in the market in recent years. Much of this has been based around Brexit, as businesses have been going through uncertain times and whether they should look to move overseas. This initially resulted in a much slower rate of property rentals but the demand for them has now started to rise again. Although, the UK continues to see office closures for businesses due to the continued growth of online offerings.

Since the vote to leave the EU in June of 2016, it appeared this was going to have a long standing negative effect when it comes to the UK commercial property market. It saw the construction sector decline and rentals decreasing greatly. Statistics backed this up, showing that since December of 2017, UK commercial construction work had declined each month. Rental growth was still up but was much lower than the previously expected figures. This brings us back to the previous rise and fall of the market, with the peak in 2007, before this then falling drastically.

However, industrial property rental has continued to steadily rise, as one of the remaining positives in the market. Office space rental was the big fall initially but is another to have been rising by small amounts each year since. Another positive has been that off industrial properties such as factories, that have been outperforming all the rest in the market since the referendum vote back in June of 2016.

There are now also many trends when it comes to the UK commercial property market. These include:

  • Retail Space

One common trend has been businesses moving away from high street stores to just online. This sees them using the previous shop space for storage or converting these into housing for example.

  • Share of office space

Another growing trend has been businesses looking to use more flexible office space with shorter term leases on them.

  • Interest rates

One of the long standing issues at hand is the high interest rates being offered. This doesn’t appear to be changing and is going to continue to be a threat for businesses until this is changed or updated in the future.

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Breaking News

How much will a Halloween Castle set you back

The latest research from Enness Global has revealed that, for those looking to follow in the footsteps of Count Dracula this Halloween, the average castle on the UK market will set buyers back around £2.2 million, requiring a deposit of £332,609 and a monthly mortgage repayment of more than £10,000. Enness Global analysed current castle…
Read More
Breaking News

How much is a Halloween home from Hell?

Halloween homes from Hell will cost you an average of £448k The latest property market insight from Yopa reveals that Hell is the most expensive Halloween-related road name in England, but those living on a road with Lantern in the name have seen an almost paranormal property price increase of 44.8% in the past year.…
Read More
Breaking News

Halloween house price drops hit 1 in 4 areas

The latest research from The Property DriveBuy has found that the vast majority of homeowners are in for a treat this Halloween, with just 24% of local authority areas across the UK seeing house prices fall since last October. However, homeowners in Westminster, Kensington and Ceredigion have seen the most haunting house price drops in…
Read More
Breaking News

Nine in 10 young flat sharers say they’ve lived with a ‘housemate horror’

Leaving dirty crockery in the sink and blasting music or the TV at antisocial hours top the list of most common ‘housemate horror’ traits New types of frightful flatmates have emerged including ‘Nocturnal Gamers’, ‘Persistent Puffers’ and ‘WhatsApp Micromanagers’ 64 per cent of house-sharers say ‘horror housemates’ have cost them money by not paying their…
Read More
Estate Agent Talk

How Local Market Trends Affect Your Home’s Selling Price

Introduction When planning to sell your home, understanding local market trends is crucial. Whether you’re working with estate agents in Selby or estate agents in Leeds, these professionals emphasize the importance of market dynamics on your home’s selling price. Local factors such as supply and demand, interest rates, and economic conditions influence property values. These…
Read More
Breaking News

The biggest Halloween rent hikes

Revealed – Where tenants have been haunted by the biggest Halloween rent hikes The latest market analysis from London lettings and estate agent, Benham and Reeves, has revealed which areas of the rental market are haunting tenants this Halloween, having seen the largest increase in the average monthly cost of renting since this time last…
Read More