Within the commercial property sector there has been a lot of discussion about the effects that Brexit will/is having upon the market. It is well known that a number of high profile companies plan to leave London once the Brexit process has been finalised, and that has had a negative effect upon the demand for commercial premises.
Whilst London in particular has seen a marked decline in interest, this isn’t the same across the entire UK.
Online commercial estate agent, Virtual Commercial, recently conducted research into the availability of commercial properties across 20 of the UK’s major cities to determine what proportion of the total property stock listed is selling.
Their results indicated that there are only four cities that are currently less appealing to buyers on the commercial market than London: Cardiff, Portsmouth, Swindon and Oxford.
While London continues to struggle with sales of commercial real estate, there are a number of other areas of the UK seeing strong gains in the commercial market. The top five of these are: Southampton, Aberdeen, Cambridge, Brighton and Bristol.
If we focus on the capitol the picture looks gloomy, but with Southampton managing to shift 43.8% of all properties listed online as sold subject to contract or under offer, the overall picture for the UK’s commercial market appears more rosy.