Most, if not all, businesses will at some point find themselves presented with a grievance by an employee. It is […]
Recently released figures have shown that commercial property lending in the UK saw a substantial increase in the second half of 2017, with new commercial property lending reaching £26.8 billion for this period. This marks a significant improvement on figures previously released for the first half of 2017, which had shown that lending in this sector had dropped by 24 per cent. But research conducted by the Cass Business School, one of Europe's top business training institutions, demonstrates that this trend has been reversed.
Commercial property lending for the whole of 2017 was shown to total £44.5 billion, equalling the total figure for 2016. Across the property sector as a whole, the Cass findings established that lending increased by 4 per cent in 2016, the total value of loan books reaching £199 billion. This research also reveals that the source of capital in property transactions has seen a shift, with non-bank lenders being particularly active in 2017. These types of lenders now hold a 14 per cent market share when it comes to new loans, up from 10 per cent the previous year.
In more good news for those in the UK's commercial property sector, it has also been revealed that commercial property rental values have increased by 0.6% in the first quarter of 2018. These figures are being driven, the CBRE'S report showed, by continuing outperformance in the industrial sector, with prime rental values in this sector increasing by 2.3 per cent over the first quarter of this year.
This is a trend that has been ongoing for the past 18 months, Quarter 1 of 2018 being the sixth consecutive period of industrial outperformance. Strong performance in this sector has been shown throughout the UK, with substantial growth recorded in London (3.8 per cent), the South East (2.9 per cent) and Eastern (3.5 per cent) markets, with Scotland showing growth of 2.8 per cent. These figures are seen to demonstrate the continuing resilience of the UK's prime commercial property market, with experts suggesting they expect this performance to continue throughout 2018.
Wilford Smith provides high-quality expert property advice to those seeking to invest in commercial property, whatever the nature of your business. Finding the right commercial conveyancing solicitor is essential to ensuring that your commercial objectives are pursued in a clear, practical and focused manner.
As well as representing clients in the purchase and sale of property, Wilford Smith's team of expert commercial conveyancing lawyers can provide top-level legal support on matters such as the purchase of land, construction, alterations and repairs, leases and break clauses. We are experts at negotiating and preparing contracts, and reaching binding agreements on our clients' behalf so that you are free to concentrate on running your business.
Our solicitors are based in London, Sheffield and Manchester and service clients throughout England and Wales. Contact us today on 0808 168 5813 to find out how we can help.