Top Commercial Property Locations in the UK
Investing in commercial property is the perfect way of solidifying your position within the property industry. The benefit of commercial property is that it’s regularly in demand and leases usually lasts for long periods, giving you that extra level of safety.
On top of the security that commercial property can offer, analysis of 2017 figures has indicated that 2018 is the best year to invest in office space and trade property so it’s a good idea to start exploring your options now rather than later. To help you in this endeavour, we have compiled a list of some of the best commercial property locations across the UK, based local trends and figures.
London has always been a powerhouse for property sales, drawing attention both nationally and internationally. Despite concerns around the effects of Brexit, and plenty of predictions for the fall of commercial property in London, there has been no clear hit to the market in recent months. London continues to hold its position as a global hub for trade and with over 205,000 new companies forming in the city last year, there is bound to be demand for commercial property.
Cambridge has seen a huge surge in successful businesses over the past 6 years as well as an influx of larger companies setting up offices there. Since 2012, annual turnover of Cambridge-based businesses has increased from 26 million to 43 million leading to brilliant citywide growth in addition to increased demand for Cambridge office space.
On top of the statistical backing, the city has also established itself as a hub for the growing UK games market, attracting multiple international game development studios throughout the city. With this fairly young industry growing exponentially, it seems that there is a strong likelihood of even more international businesses joining the ranks of Cambridge’s elite.
With the city going from strength to strength and continually gaining attention, now is the perfect time to investigate the commercial property for sale in the area.
Potentially a surprise name on this list, Glasgow has come seemingly out of nowhere and exhibited the highest new business growth across Scotland, contributing to a huge influx in Scottish company formations; this is perfect for a budding investor. By following the path of growth, it’s easy to find tenants for your property and you can expect its value to continue increasing as long as this new business trend lasts.
In addition to new business growth, Glasgow is also seeing a significantly higher number of tourists this year. The increased tourist levels could potentially be the reason for the previously mentioned increase in new businesses, as tourism is often a catalyst for city growth and company formations. This drastically increases the likelihood of Glasgow’s business boom continuing, as well as further increasing property prices and value.
Glasgow seems to be displaying all the signs of a good investment opportunity. Do some research and you might find your next high-profit deal waiting.
With Birmingham implementing their business growth programme earlier this year, you can expect SMEs to start growing much more quickly around the Birmingham area. The programme offers £33 million in grants to businesses as long as they meet specified criteria, with the intent of encouraging growth and creating jobs. This, in turn, means an increased need for commercial property and office space. Particularly with the grants only becoming available this year, the effects of the programme have yet to fully show themselves, giving you time to invest and take advantage of the coming growth.
With these top locations in mind it should be easy to locate a perfect commercial property to invest in; simply do your research, investigate the trends of the area and opportunities will reveal themselves.