Commercial Property News

GVA Grimley sees commercial property market improving

There are signs some parts of the commercial property sector in the UK are improving, one real estate agency has suggested.

GVA Grimley has indicted the decline in rental values of offices is beginning to level off, with business property in the capital leading the trend, the Western Mail reports.

Speaking to the news source, James Petherick of GVA Grimley's Cardiff office noted there has been a "major improvement" in the central London office market in recent months.

This, he added, indicates "trading conditions are back on their feet and a resumption of rental growth is anticipated this year".

However, office business parks are lagging behind, he continued, meaning tenants wanting to take space at these-out-of-town sites are in a more powerful negotiating position than those who are seeking offices in cities.

CR Richard Ellis noted earlier this week that the supply of commercial property in London is on the decline, with demand from tenants remaining strong during February.ADNFCR-2842-ID-19687409-ADNFCR

Wed, 24th Mar 2010

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