Commercial Property North London – Not A Homogeneous Picture
Commercial property in north london does not follow the same rules as elsewhere in the country. In the UK, property prices are more or less flat. In the six months between November 2011 and May 2012, prices saw an average fall across the board of 1.1 percent – the market falling every month. But, of course, these averages are blunt instruments and hide vast regional variation. The capital has experienced slightly improved fortunes, partly due to the bottleneck in supply. However, even London itself is complex, with Central London providing a quite different picture to Greater London and the rest of the country. Office space, retail and industrial property in the centre have remained strong – at least, far stronger than elsewhere in the UK. Look for a shop for sale in London and you could find a very mixed picture. The rental market has experienced some variation as a result, with shorter leases favoured by occupiers but long-term buyers and tenants rewarded for their foresight. Those looking for shops to let in north London or industrial space on the outskirts can find some amazing deals, since landlords are themselves under pressure.
In other words, this isn’t a bad time to be looking for new properties in London. There is a great deal of choice on the market, which is increasingly separating into two extremes. In many areas it’s a buyers’ market, meaning that there are some real bargains to be had. Anyone with some spare cash on the balance sheet might consider whether now is a smart time to invest, since the long-term investor is likely to pick up a good deal. (It was this dynamic that propped up the floundering London office space market in the wake of the nose dive back in 2008, when prices plummeted 50 percent in some areas and sectors, only to soar back up when a wave of foreign money flooded in.) When the market recovers – which it inevitably will, even if a strong economic recovery is still elusive at present – they will be vindicated. This is a time to be laying down strong foundations for the future of your business.
Shops to rent in north London present a different set of opportunities to prime office space in the City or industrial space on the outskirts. Each of these offer possibilities for those in the right position, whether it’s a long-term let or a short-term stop gap while you wait for a better bet. commercial property london is in flux and it’s a mixed picture. A shop for sale in London, an office to rent in the Square Mile… do your research and make sure that now is the right time for your circumstances.
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