SMEs ‘not worried’ about commercial property

Posted on Posted in INDUSTRY NEWS

Small and medium enterprises (SMEs) are not worried about the commercial property market and some are finding it easier to rent, the National Federation of Enterprise Agencies has said.

"We are not aware of any great level of concern at the present time," said George Derbyshire, chief executive.

He noted that businesses looking to buy commercial property will find it harder to get funding, as lenders will be more cautious.

SMEs who rent their properties, however "may benefit from the lessening of upward pressure on rents", Mr Derbyshire observed.

Commercial property developments fell for the fourth consecutive month, according to Savills Total Commercial Development Activity Index, although the decline in February was half of the previous month, Reuters has reported.

Owners of commercial property may find it more difficult to increase rent, Mr Derbyshire noted and will be concerned about a "potential reduction" in new businesses coming through.

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