Tracking the movement of the Commercial property market adds value to the argument for using property Guardian Companies to secure your investment between lease agreements.
On reviewing the latest quarterly review by Graham Shone on EGI. It could be said a more stable property market that is adopting a considered approach to idetyfying and secruing new poeperties is emerging.
Having said that, on closer investigation of individual London Boroughs for example. The figures do indicate that patterns of some types of property lettings are slowing down, as in the West End of London whilst other boroughs are moving faster.
The West End, for example, endured its quietest quarter for lettings since 2009, with just 448,000 sq ft let across the three months – 40% below the five-year average.
Elsewhere, the Docklands market has seen one of its most active periods for some time, with nearly 290,000 sq ft of space transacted – higher than eight out of the previous 10 quarterly figures for take-up. From EG
There is however a consistent flow of properties being exchanged. They are just moving at a less fluctuating rate.
This might indicate that the wild west days of ‘any property at any cost’ are subsiding. It has become more important to take a balanced approach to letting, securing and managing property portfolios.
Add to this slower burn, the reality for the UK’s exit from Europe looming on the horizon and professional property management (incuding reducing overhead) will become more important as the time a property can be empty is likely to increase.
One theme which has been consistent throughout the compilation of this quarter’s LOMA is how there’s an acceptance that the next six months will be fairly subdued across the London office market while we await the result of negotiations to complete the UK’s withdrawal from the European Union. From EG
This evidence supports the economic argument to place vacant properties with ‘Property Guardianship Companies’ such as Umbrella Guardians.
Your building needs to be in good shape to attract new landlords that are taking a more considered view. To compete, your vacant property must appeal to any new landlords whilst keeping it secure, free of vandalism and in a ‘ready to view’ condition just makes sense.
See what Umbrella Guardians can offer you by downloading our brochure here