INSIGHT: Commercial Property Market Performing Well In North West
A recent survey of commercial property has indicated a rise in activity in the first half of 2016 in comparison to last year, and whilst the North West did not perform well at the start of the year in Q2 it has outperformed other areas, making it the third most active region after London and the South East.
Activity in the commercial property sector showed an increase of 9.3% across England & Wales in the first half of 2016 compared with last year - but according to the survey by Groundsure property experts there are huge differences in the pace of change across the regions.
Commenting on the news, Pearson’s Head of Property Solicitor, Karen Piontek said: “It’s been business as usual for our clients post Brexit. Many commercial clients are continuing with their expansion plans and as Landlord’s in particular want to get the properties leased there are some great incentives which our clients are negotiating when offering on rental properties.
"2016 has been a great year so far for our commercial property team with further growth on last years’ figures with a steady stream of new instructions earlier in the year and a considerable influx more recently, as a result, we have expanded the team further to continue to be able to deliver the high level of client service required.," she added.
Using HMRC data alongside commercial sales volumes and location intelligence from Groundsure regional commercial property performance can be forecasted months ahead of the official statistics.
Dan Montagnani, Managing Director of Groundsure said:
“One surprising aspect of the analysis is that activity in the market as a whole appears relatively unaffected pre-Brexit, but watch this space for regional impacts on the referendum result.”
This feeling is borne out in HMRC data which shows that Q2 of 2016 – the quarter that encompassed the climax of the referendum campaign and vote itself - actually saw the second highest level of non-residential transaction volumes for 8 years (since Q2 2008, pre-recession).
Commercial Property Specialists can help your business make it a smooth move. Call Pearson Solicitors on 0161 785 3500.
Also in this issue:
- Can an employer ban Islamic headscarves at work?
- Pay Gap Gulf in Employment
- Unlawfully Dismissed Football Manager Wins Compensation
- Being savvy when buying a commercial property
- Commercial Property Market Performing Well In North West
- ICO Warns Rogue Directors Not to Expect an Easy Ride
Please note that the information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Pearson Solicitors and Financial Advisers Ltd or any of its members or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.
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