Is The Recovery Really Underway?
Well according to latest reports it would seem that business confidence is at its highest level since 2007 with the British Chambers of Commerce suggesting that the UKs economy is strengthening together with a reported increase in UK construction.
What does this mean for the commercial property market? Well there are signs that occupiers are coming out of hiding and are expressing interest in purchasing offices and industrial buildings.
Certainly, as reported in our news section we have seen an uptake in office space in Huntingdon with a good take up at Ramsay Court, Hinchingbrooke Business Park and there are a number of new office building developments in the pipeline in Peterborough.
We are also seeing signs of improvement in the demand for industrial units. Again in Peterborough we have seen an increase in the number of offers being put forward. Is the bottom of the commercial property market behind us? Well it may be a little early to confirm for sure but with (believe it or not) an increasing bank appetite to lend perhaps now is the time to grab a bargain – if you are a purchaser of course!