Stirling Ackroyd gave their advice for businesses looking for new Commercial property in Clerkenwell following news of soaring demand for commercial property in Central London.
(1888PressRelease) April 08, 2011 - Figures released by the Royal Institute of Chartered Surveyors (RICS) show that surveyors reported property demand shot up by 25% in central London during the final quarter of last year. Office space was the strongest performer and confidence among surveyors was at its highest level since 2007.
During the final three last months of the year, 18% more surveyors anticipated new sales and lettings to increase up to March this year. There was an 8% rise in enquiries from businesses already occupying commercial premises, reversing the negative trend seen from July to September. From the perspective of businesses looking to rent, the outlook appeared mixed. The number of available offices correspondingly fell to a net balance of zero surveyors with available premises. This was the lowest figure recorded by the RICS since 2007. Stirling Ackroyd let Commercial property in Shoreditch, Hackney and Clerkenwell including office space. Their commercial property team gave their reaction:
"We have seen a surge in enquiries for our commercial property in Clerkenwell, especially for office space. We also have premises to let in other central and London wide areas, and again, demand has recently been very strong. But if you're looking to find new premises, we're reassuring our business customers they're not necessarily going to have huge problems right now. There has been all the media coverage about a shortage of good quality commercial property during the last year. However day in day out, we are still showing business customers around good quality commercial property in Clerkenwell and beyond. It is a good time to make the move providing you're getting the expert local support you need, despite the jump in demand".
The RICS indicated the outlook for rents fell in line with other London property trends. Whereas rents were expected to continue to fall in other areas of the country, London is predicted to see them rise in the coming year. The capital's rental trend stands in sharp contrast to the final overall figure of 7% of surveyors predicting rents to fall. Again, the team offered reassurance for business customers:
"We have been working in commercial property since 1987 and we have always taken a very different client centred approach. We work closely with businesses to match their needs to a local property that is going to really serve their business in the long term. We have a very wide scope in the type of premises we work with. For example, for retail commercial property in Hackney we have some interesting opportunities for tenants interested in fully functional shell condition properties to put their own stamp on. Equally for corporate clients, we have offices like St Marys Axe, with 2,500 feet of extremely well appointed office space in a central prestige development. So while there's increased demand, we are still able to source the better quality properties to meet a very diverse range of business needs".
Stirling Ackroyd work throughout the city with commercial premises in Shoreditch, Hackney, Clerkenwell, Bankside and Southwark, Islington, central London, North, South East, and East London. To speak to their dedicated Commercial team call 020 7729 7763. Their current selection of premises can be viewed at http://www.stirlingackroyd.com/commercial-property.aspx