Tue, 01 Nov 2011 | COMMERCIAL PROPERTY
According to new research, investment in commercial property in the north west of the country has skyrocketed of late.
Property firm Lambert Smith Hampton said that investment has more than doubled, with transactions rising by 158 per cent over the last three months.
The total level of commercial property investment in the region currently stands at £306.5 million, a large jump from the £118.87 million recorded in the previous quarter of this year.
The most popular commercial investment was office blocks, which accounted for 50 per cent of all investment buys. Hotels, restaurants and shops were also extremely sought after by investors, making up 39 per cent of transactions.
Amongst the highest value deals recorded over the last three months included Europa Capital Partners' acquisition of One Piccadilly Gardens in Manchester, for which it paid £67 million, and the sale of an 84,000 square foot office block to Scottish Widows for £30 million.
The northern head of capital markets at Lambert Smith Hampton, Abid Jaffry, told The Manchester Evening News, “The investment market is still continuing to demonstrate an enthusiasm to acquire appropriate opportunities.
"There are signs that investors are moving up the risk curve but the precursor to the majority of buys is largely quality led with assets which do not deviate from core fundamentals," Mr Jaffry added.
The property firm also revealed that commercial property transactions across the entire UK rose by 22 per cent over the last three months when compared to the previous quarter, totalling £8 billion.
The subjects benefit from an enviable and extremely prominent trading position on the corner of Hyndland Street and White Street, within the area of Glasgow’s bustling and trendy West-End.
FREEHOLD
The subjects benefit from a prime trading position in the heart of Glasgow City Centre. The subjects are in the middle of one of the busiest commercial areas of the city with a high volume of offices, businesses, hotels, restaurants and bars in close...
LEASEHOLD
A 4* hotel within picturesque location surrounded by many world-renowned whisky distilleries and golf courses. The site includes two employee apartments and a delightful cottage.
FREEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.