Fri, 03 Dec 2010 | COMMERCIAL PROPERTY
The commercial property market in London is likely to suffer the impact of business failures, which could lead to empty offices and buildings in the capital city.
A survey carried out by the Office for National Statistics (ONS) has shown that there were 55,100 business closures in London in 2009, an 8.9 per cent increase on the previous year which saw 50,575 closures.
A massive 13.7 per cent of London businesses closed down in 2009 due to the harsh economic climate, with the rate of closures at over 150 per day.
The rate of new businesses opening, on the other hand, has not been sufficient to make up for the closures. Therefore, it is likely that commercial property management firms will struggle to fill empty commercial space in the capital.
The worst affected area in London, according to the ONS data, was Westminster, with 6,475 failures reported in 2009. Camden came in second with 3,140 business closures.
Despite these figures, a recent report in the European Evaluation Monitor by CB Richard Ellis, stated that the UK commercial property sector is leading value recovery in Europe.
The company is a vehicle accident repair centre offering general bodywork repair and other related services, including wheel alignment, air conditioning re-gas and windscreen / glass replacement. Repairs are completed to manufacturer standard by trai...
The company is a furniture and equipment hire company catering to the events industry, offering a vast stock portfolio of tables, chairs, table linen, crockery, cutlery, glassware and kitchen equipment.
Established mechanical services contractor offering a variety of HVAC, plumbing and renewables services, including heat pump installation and heat recovery ventilation.
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
25
|
Apr
|
Tile business old to management team by Norcros | MBO/MBI
Johnson Tiles UK, a tile business based in Stoke-on-Trent, h...
25
|
Apr
|
New private equity owner for fleet hire firm | BUSINESS SALE
West Lancashire-based fleet hire business NRG Riverside has ...
25
|
Apr
|
New private equity owner for fleet hire firm | BUSINESS SALE
West Lancashire-based fleet hire business NRG Riverside has ...
25
|
Apr
|
Tile business old to management team by Norcros | MBO/MBI
Johnson Tiles UK, a tile business based in Stoke-on-Trent, h...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.