Written by Richard Farnworth
The North West has seen a significant rise in demand for commercial property, with demand across the UK standing at its highest since 1998.
The recent figures were provided by the latest Commercial Market Survey from the Royal Institution of Chartered Surveyors (RICS).
A considerable upturn in the demand for office space
The RICS says that the North West has seen a considerable upturn in the demand for office space in the first three months of the year. This comes as 38% more respondents reported seeing more prospective interest.
Since the end of 2012 the demand for commercial property in the North West has continued to rise. The data indicates that as investment into the commercial property sector has increased, so have employment and GDP growth in the UK.
Simon Rubinsohn, RICS chief economist, said of the rise in demand: ‘The strength of the latest commercial property survey suggests that the underlying momentum of the economy will continue to accelerate through the course of the year.
‘What is particularly encouraging is that a better tone to the results is visible in all parts of the country and increasingly in secondary as well as primary space. It is hard not to be encouraged by the conclusions.â?
Helen Robinson, Head of Conveyancing at Commercial Matters, commented: ‘It is encouraging to see such positive figures in the North West. The expectation that this upturn will continue as the year progresses is also particularly pleasing.
‘Whether you are seeking to purchase or lease a commercial property, you can contact Commercial Matters to receive expert legal advice and representation.â?
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