Commercial Property Market Review – March 2023

Our property market review is intended to provide background to recent developments in the commercial property market as well as to give an indication of how some key issues could impact in the future.

Inside the March report:

Spring Budget Investment Zones announced: On 15 March, Jeremy Hunt delivered his “Budget for Growth” focusing on four pillars ‘Everywhere, Enterprise, Employment and Education.’

Capital values decline in February: UK commercial property performance measured by the latest CBRE Monthly Index for February 2023, highlights that capital values fell by 0.5% in the month, with rental growth registering a very small gain of 0.2% and total returns flat at 0.0%.

Industrial and logistics sector – a ‘significant amount of investment capital is sitting on the fence’: Take up of industrial and logistics space in 2023, according to Colliers recent UK Market Pulse, is predicted to fall to around 30m sq. ft, down from 36.9m sq. ft. in 2022. Colliers are attributing this predicted contraction to occupier cost pressures and depressed retail spending.

Commercial property currently for sale in the UK – data, (Source: Zoopla, data extracted 22 March 2023).

Commercial property outlook: (Source: RICS, UK Commercial Property Market Survey, Q4 2022).

Click on the button below to read or download our Commercial Property Review for March 2023, it is in pdf format.

We are not authorised to provide advice on investment decisions concerning property, only for the provision of mortgage advice. Commercial lending is available by referral to a master broker.

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