During recent months we have experienced an increased level of enquiries for all types of commercial properties including the office, industrial and retail sectors. However, the most significant improvement has been the increased interest in development opportunities.
Developers who have been reluctant to acquire new sites are now keen to build up a portfolio of development opportunities, particularly residential developers whose confidence has returned as the residential market continues to improve.
As a result, many of the residential development sites that we have been handling are either under offer or have been sold.
We anticipate that, across all sectors, the commercial property market will continue to strengthen as the year progresses and we expect to see more activity in the investment sector as investors can benefit from rental income and, after a period of stagnancy, capital growth.
For further information, please contact our commercial property team on 01522 556088.