Commercial property lets continuing strong

Posted on Posted in INDUSTRY NEWS

Commercial letting agents in London and other parts of the country are continuing to fare well, with occupancy rates growing at a healthy rate during the middle two quarters of this year, a new study suggests.

A report from international property consultants King Sturge shows that the commercial lettings sector continued with strong performance – despite the uncertainty caused by the global credit crunch.

Property hotspots included city offices in London, as well as commercial property lets and sales in Bristol and Glasgow.

"This volume of transaction and take up is encouraging and flies in the face of the current credit crunch, though in fairness there may be a time lag and the next set of statistics in spring 2008 will be very interesting," Huw Thomas, a King Sturge joint managing partner, told Business in Wales.

"What is noticeable is the reduction in take up from the public sector, and reflects a general squeeze on public spending at the moment."
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