With the UK Commercial Property market in a constant state of evolution, it is worth noting some of the interesting trends emerging which are likely to have a significant impact on the way the industry operates in the coming 12 months:
Repurposing retail space: Aware that high streets and shopping centers will never be the same again, more companies are starting to convert this idle space for new uses, particularly for housing.
Retail shops to retail warehousing: High street stores continue to shut as a result of more and more people opting instead to shop online. This has led to numerous stores being shut although there has been an increase in the number of warehouse openings as online sellers expand their logistics and delivery networks.
Devaluation of the pound is a boost for industrial sectors: The fall in the pound has increased demand for British exports and led to higher demand for industrial space.
Shared offices and shorter leases: A gradual shift to more flexible, shorter-term office leases has prompted several companies to introduce new concepts which rival newer competition that has found success.
Alternative commercial property attracting attention: The fundamentals for alternative commercial property such as student housing and self-storage remain strong and offer the most growth potential still.
Brexit and higher interest rates pose biggest threat: Although the structural changes impacting the retail sector will continue, the two most immediate threats to the UK commercial property sector are the uncertainty resulting from Brexit negotiations and the likelihood of higher interest rates being introduced over the coming years.
I specifically focus on General Practice Surveyors (L&T, Disposals, Acquisitions, Investment, Development, Strategy, Asset Management) in both the Public and Private sector across the UK.
Whether you are passively or actively seeking a new challenge or responding to influences within your business, I am positive that a confidential conversation with me will be an investment in your future. Here are some of the live opportunities available at the moment:
- Senior Surveyor/Associate - Corporate Real Estate
- Commercial Property Surveyor - East Anglia
- Senior Surveyor
- Commercial Property Surveyor - North London
Please feel free to contact me directly on 020 7048 3304 or Yohann@gkrlondon.com
