While the recession is undoubtedly causing problems for industries and businesses across the country, it is also providing commercial property investors with an unprecedented opportunity to buy property at prices that have not been seen for around 5 years. The current situation has seen the prices of commercial property in London drop to an all-time low.
Balancing the cost of borrowing against return is the key to successful commercial property management. A recent survey by a well known property firm , suggests that the cost of commercial property in London has dropped by as much as 44% in some areas. Due to the recession, many of these offices are left standing empty, costing freeholders money and forcing them to drop prices even further. As a result, new and small businesses have taken the opportunity to expand and buy London commercial property that they simply wouldn't have been able to afford during the preceding property boom.
In addition, the survey seems to indicate that more businesses are taking advantage of the reduced rents that have been introduced as a by-product of the current financial downturn. London has always been the central hub for most of the UK's industry and commerce. It offers more to businesses than just low prices: it offers them the chance to innovate and grow. The available pool of talent in the capital has widened and deepened, with lots of highly qualified people ready to take on new challenges. More and more companies are recognising that this is the time to inject fresh talent into their business.
The opportunities for private investors looking to buy
commercial property to lease in London have also grown.In addition, the price of London commercial property is predicted to begin an increase at some stage during the course of 2010; investors will be able to increase rents accordingly and see a profit on their initial investment. As the price of property increases, investors will also see themselves in a position to make further profit from the sale of these buildings.
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Shivani Gurtu-Louth - Operations Manager of Devono Property Limited. Devono are the only
commercial property estate agents in London to exclusively represent tenants looking for office space and
commercial property in London. We can also help you find serviced offices in London. Our aim is to secure the best commercial property at the best price.
For interviews, quotes, images or comments contact:
Shivani Gurtu-Louth
Devono Operations Manager
Tel(DDI): +44 (0)20 7096 9911
E-mail: sg@devono.com
