05 Sep 2013 Back

COMMERCIAL PROPERTY MARKET REVIEW

In London availability/office supply is largely influenced by strong global demand from both internationals and international businesses. Why invest in London? Politically London is very stable and is safe. For example landlord's in London cannot lose their property to the government which surprisingly can happen in other countries for example countries which are not ruled by a democratic power.
 
Office rents in the West End are influenced by the demand in residential dwellings this is because landlords increasingly are looking to convert office buildings into residential use schemes to benefit from greater returns. Over the years this has led to a decline in office availability which has pushed rents up. Rents have in the West End only changed slightly in comparison to the "twilight years in 2007". Top rents in Mayfair have dropped since then from in some cases £130 per sq ft to a level of £90.00 per sq ft currently. Another reason is the consistent rising prices especially in sort after locations such as Mayfair, Holland Park and Chelsea. This is naturally led because of the lack of supply in both office and residential properties.
 
To achieve attractive terms Victor Harris Commercial advise that tenant's look to take longer lease lengths or look for short term options. Taking a short term option is sometimes not advisable.When businesses or individuals look for property they should consult with a property advisory.


Victor Harris believe given the global demand Central London is to continue to attract interest no matter what the market conditions. Using our systems we are able to ensure clients are kept completely up to speed over market intelligence, office availability along with effective marketing ensuring disposals are let quickly.
 
Victor Harris provide services to those who want to have complete coverage of office supply along with advantageous terms after negotiations. Our involvement in the process alone is important, not only does it show the landlord your serious at committing we too are a party you can use to simply extract more attractive terms from the other side.





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Victor Harris Commercial Limited

 




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