West Midland commercial property market remains resilient

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Commercial Real Estate agents, Cushman & Wakefield, at a presentation held in Birmingham in May 2017, said that the West Midland property market is resilient despite fears that Brexit would negatively impact commercial property.

The head of national logistics at Cushman & Wakefield, David Binks, said that 34% of UK commercial property transactions in 2016 were for commercial property in the Midlands. Much of the demand for property was from the growth of online retail and ecommerce. Some of this growth has been at the expense of retail shops, but there are still successful retail parks and prime shopping centres in the area.

Since there has been less new development since the EU referendum vote, the demand for existing property has been high.

The other growth areas is due to firms relocating their offices to the Birmingham area. David Tonks of Cushman & Wakefield said:

“The impact of the major infrastructure projects recently seen in central Birmingham and beyond have served to make Birmingham one of the few credible relocation or consolidation options for larger employers that are reshaping their footprint.”

He added that there is a large talent pool in the Midlands and there have been improvements in the communication infrastructure. This has made Birmingham an attractive city for property investors.

Many commercial landlords are careful to invest in the best investment areas. Cushman & Wakefield believes that the outlook for property investing in the Midlands is positive for 2017.

Commercial mortgages are available at low interest rates to help finance commercial property investments.

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