The recent renewal of interest across the UK in commercial property is going to benefit Glasgow in a big way. Investors seem to be keen on breaking free of the austerity induced by the recession and making new investments to capitalize on the reviving economy.
Property consultants in Glasgow are predicting a steady increase in the number of new investors who will shift their attention to good office spaces in Glasgow in the near future. Millions of pounds have been invested in making existing locations in Glasgow suitable for business needs.
With prime office space available, many businesses are turning to Glasgow to establish their centre of operations. There is also some interest from overseas investors like Israel. In fact, Cushman & Wakefield recently signed off on a 44,400 sq ft deal, wherein prime desk space on West George Street was purchased by clients based in Kuwait. The office
space was priced at £16.1m.
This deal is said to be the largest in Glasgow this year and is believed to have removed the inhibitions in the market, encouraging fresh activity and investment in the city’s real estate market.
Steven Newlands of C&W stated that property deals in Glasgow were not that impressive during the first 6 months of this year. However, now the market is definitely looking up, with investors becoming more confident and willing to capitalize on the reviving economy. Especially favoured are office spaces with dependable, trustworthy tenants who will ensure a long term and safe return for the investor. Ideal tenants are believed to be public sector organisations.
With the rekindling of interest here, big investors such as life insurance companies and pension fund managers are starting to follow developments here quite keenly for making future investments. This is boosting the growth in this sector, thus encouraging economical growth across the UK.
Bookmark:
These icons link to social bookmarking sites where readers can share and discover new web pages.
This entry was posted
on Friday, November 13th, 2009 at 12:15 pm and is filed under Doing Business, Great Real Estate Tips, Plugs.
You can follow any responses to this entry through the RSS 2.0 feed.
Both comments and pings are currently closed.
