Category Archive Commercial Conveyancing

ByMichael Morrison

London First for Property Investment Purchases whilst Restaurant Insolvencies Rise 20%

London is first for commercial property investments followed by Paris largely due to the expanding tech sector.

The UK restaurant sector however is facing uncertain times with nearly 1500 insolvencies in the year to July due to the large volume of establishments, poor customer attendance and increasing costs.

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ByMichael Morrison

Prime Central London Property Prices are on the UP whilst Businesses Migrate from Mayfair to the City

Property prices in prime central London have recovered to that seen a year ago. Gazumping is also on the increase due to competition.

Mayfair has seen the largest increase in residential sales whilst losing the biggest number of commercial tenants to the City.

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ByMichael Morrison

Commercial Property Surge in Central London

Central London has seen a large uptake in office space over the past four weeks. This has been dominated by the creative industries such as advertising and public relations agencies and fintech firms. Figures are up by almost one third on October last year. Off plan leasing deals have also increased dramatically with more than half of the buildings currently being built having deals undergoing due diligence by London solicitors.

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ByMichael Morrison

Special Offer On Conveyancing

Due to the recently recorded fall in established landlords entering the property market making buy-to-let investments there are unrivalled opportunities for new entrants. This has been perceived by a drop in serial investors mortgage approvals by more than half over the last quarter.

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ByMichael Morrison

Commercial Solicitors Merge

Two international substantially commercial firms are likely to merge that if successful would create the largest listed firm of solicitors in the country. Further details will be divulged if and when it completes.

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ByMichael Morrison

Property Buyers are Returning to the City

Just under £1.4bn has been invested in commercial property in the City’s square mile from January to July this year which was practically the total invested in the area last year. Significant deals in the range of £250m have been completed amid a general air of confidence. Much of this purchasing activity has been carried out by UK fund managers.

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ByMichael Morrison

Commercial Property Sales Remain High

Growth, in flexible working space is continuing apace and also in warehouse facilities; the latter being the conduit of distribution for the burgeoning internet market. These storage edifices are reported to be best sellers especially in the home counties including London. Space being at a premium, may well see these commercial facilities appearing adjoining residential homes.

Current currency rates ensure commercial property in London retains its appeal to investors especially to those of Asian decent.

 

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ByMichael Morrison

Retail Property Purchases Will Add Fuel to Strengthening Employment Market

Commercial property solicitors in London have ‘inboxed’ their employment departments to brace themselves for a substantial increase in contract work.

Purchasers have spent £1billion on retail space in central London in the first six months of this year originating particularly from Singapore and Hong Kong. The City unfortunately is not faring as well due to the Brexit vote and the uncertainty of its position with the European Union.

 

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ByMichael Morrison

Commercial Property Rents Up 7%

Commercial conveyancing solicitors in London are reporting strong rental growth rates and no significant evidence of any downturn.

Areas such as Covent Garden and the streets to the north of Oxford Street near Selfridges are booming. Developers who have invested heavily in these locations also set their sights on for example Earls Court for its redevelopment potential and London’s Tech City near Shoreditch.

The rising rents of properties in these locations have seen more than a quarter increase in their freehold values.

Solicitors in London who have clients in Mayfair with commercial property portfolios have noted a slowdown in sales, however, as their clients enjoy the security of the yields from their investments made over the past ten years.

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