Commercial property advisors can tell you that there is no sign of a post referendum commercial property apocalypse.
Post Brexit vote there was a rash of statements from media, business experts and commercial property consultants which would have led you to believe, beyond doubt, that the markets in London and Manchester particularly were on the verge of collapse.
Add to this the tumult caused by assertions that many businesses, large and small, would surely flee the non-EU Britain and the ensuing Brexit seemed to mean ruin was nigh. Here we are, almost 18 months later, vital, prosperous and far away from those claims which made us uneasy. Statistics show that there has not been an exodus.
One thing that leading commercial property advisors like John Parkinson, who works independently and with the Thames Valley Business Advisors, appreciates is that predictions can often bear no relation to reality. The post referendum commercial property market is performing excellently.
John has forty years of experience in property construction and development in the UK and overseas. John managed and owned a construction and development company for 25 years and he has witnessed the highs and lows, obstacles and critical factors in commercial property, including this post Brexit vote era. He feels that the media doom and gloom did not hit investor confidence, quite the opposite.
His focus is on commercial property consulting for SME’s and corporations across the Thames Valley, London and the south east with legal property advice and process guidance.
His message is: Do not fear expansion or relocation. If you need more space to realise potential, let’s find it or build it.
Did you know that since the Brexit result in June 2016 foreign investors have flooded the UK with billions of pounds and are set to continue this trend?
Business Insider recently reported that in the first half of 2017 foreign investors spent £12 billion in the commercial property sector. That’s an increase of 24% on the same period in 2016.
Some iconic buildings are included in the list of commercial property acquisitions including the Walkie Talkie and Cheesegrater buildings in London.
The investors haven’t made an error of judgement.
Business Insiders says the deals average at 13 years in the Walkie Talkie and it’s 100% leased. At the Cheesegrater the average is 10 years, again 100% leased.
These leases will run long in to the post Brexit negotiation era and illustrate that foreign investors have confidence. Shouldn’t we embrace it too?
Inevitably, there is still disagreement between commercial property consulting service providers about life after Brexit, however, there is agreement that the worst-case scenario has not occurred and there is no suggestion of collapse.
John Parkinson feels that commercial property is robust, there’s no need to doubt it and if you have commercial property goals to achieve, now is an excellent time to act. The pound is relatively weak, the market is stable; great commercial property deals are available.
Contact him or his commercial property consulting colleagues to gain legal property advice today.