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The IPD UK Property Index is showing continued positivity in London in terms of property investment, particularly commercial property, demonstrating it as a popular choice of investment often over and above other options such as equities.
There are ever more start-ups on the scene while well-established and burgeoning businesses are taking on more staff – which mean they need more space.
London’s flexibility in terms of area, variety of buildings, and wide-ranging, accessible infrastructure and transport links, means that the city has been able to largely accommodate the changes in demand, fashion, construction needs and new sectors such as Fin Tech.
Despite the Gherkin having gone into receivership, the commercial property sector is doing well; the events surrounding the Gherkin are the exception rather than the trend, and it is clear to see that the building is not standing empty.
IPD figures show that commercial property was able to provide returns of over 12% during the last year, a better figure than for many other areas of investment.
Experts and forecasters also remain optimistic about the coming twelve months, with even retail showing signs of bouncing back in the capital. While the rocketing house prices in London show its separation from much of the UK, the investment and confidence felt currently in the capital mean that the regions could easily benefit in their own right. Cities such as Birmingham and Leeds are already noticing increased investment and higher demand, while Liverpool is hosting the International Festival of Business.
Funds that invest in property, either directly in the real estate itself or indirectly in the shares of property companies, are proving optimistic about the year ahead for the UK as a whole, with healthy predicted returns, and it is likely that trusts combining these investments will continue to form a vital part of portfolios this year.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.