Cheshire, United Kingdom 19th April 2013 / PLS SolicitorsWhile all indicators point to a volatile economy in the UK, this offers an excellent opportunity to venture into commercial property investments given the right help.
The law firm PLS Solicitors, which specializes in commercial transactions, is optimistic that the commercial property industry is on the upswing and the stagnant activity will likely bottom out this year.
Robert Thomas, Director of Commercial & Residential Property, said that although the UK is still hounded by the laggard economy as well as growing jobless rate, it's still relatively better off compared to its European neighbors.
"A good chunk of the credit goes to the government's deficit reduction program and the fact that business leaders and financing institutions are already buying into the plan," he said. "While the August riots seemed to underscore the risk of social unrest, things are looking up."
In fact, he said, commercial property in the UK is the safest bet compared to government bonds and equities, particularly in the Euro zone which taken a hit following the rejection of the austerity measures in Greece and France. The rejection could very well spell the death knell of the euro as a single currency.
The prices of commercial property, particularly in affluent neighborhoods, are going up even if experts believe that it will only be felt substantially in the later months of 2013.
The real estate company, Deloitte, is also optimistic about the forecast for UK's property sector in the near future. In its report entitled "UK Real Estate Predictions 2013" prepared by Andy Rothery, head of Deloitte Real Estate, and Anthony Duggan, head of Real Estate Research, the company believes that 2013 will be the year when UK will finally see a light at the end of the horizon after the double dip recession in 2012.
Several indicators were cited by the report to support its thesis such as the rising prices of secondary stocks "to a level where investors are willing to transact." Also, there’s a real dearth in new or Grade A quality stocks along with the positive forecast for the rental market in some locations. Finally, the high price of prime stock in addition to the "increasing confidence in the occupier markets" will prompt investors to venture into other property acquisitions.
Thomas said that when you talk about commercial property, you are actually referring to London and the rest of the UK. While London continues to post positive growth—albeit negligible—the property prices in the rest of the UK is down 2.5%.
“But this is a good opportunity to buy because buyers are in a good bargaining position and thus, can dictate the price," Thomas said.
About PLS Solicitors
PLS Solicitors is one of the most respected Conveyancing and commercial Law firms in the UK. Among its services are property development, leases and rentals, commercial property acquisitions, lease contracts, bridging loans and business sales and purchases.
Visit its office at 2 Broomfield Lane, Hale, Altrincham, Cheshire.
Also, customers can contact telephone number: 0161 941 7449 or fax at 0161 941 4078 for consultation and Email at: info@pls-solicitors.co.uk