Now could be a good time for investing in the UK commercial property, as new research has revealed prices have recently dipped.
According to the IPD UK Monthly Property Index, the cost of commercial property in Britain fell by 0.5 per cent during May 2012, the most significant decline since November 2011.
It takes costs down to 35.3 per cent lower than they were during the height of the property boom in June 2007.
However, income return stayed steady at 0.5 per cent last month.
Peter Knight, Managing Director of Manchester based Knight Site solutions said: “Despite the uncertainty caused by wider economic factors, it’s not all doom and gloom. This may be the ideal time for investors to step in and buy commercial property, particularly when office building sites are expected to outperform other buildings over the coming years.
Peter continued: “We are continuing to see positive levels of activity for commercial properties although the market remains challenging”.
“Rates are extremely competitive in the North West and there are some excellent deals to be had, which is fantastic news for new or expanding businesses and individuals looking for property as an investment.
“In recent months, we’ve helped many businesses to secure new properties and take advantage of the value in the market.”
