Leading players in the UK real estate sector say the UK commercial property market is recovering after COVID-19 affected demand.
Commercial property activity on the Rightmove website rose 6% year-on-year in May 2020, while international agent Knight Frank is also seeing the market recovering and demand growing.
It’s a trend we have also seen on European Commercial Property Marketplace, Consorto.com.
Consorto Chief Executive Officer Philip Verzun says, “Consorto is now seeing rising demand for commercial property investment in Europe, particularly for industrial properties. We are also receiving inquiries for value-add office buildings and hotel properties.”
Rightmove also suggests demand is led by industrial buildings, followed by land and development opportunities and retail and offices.
The condition easing of lockdown announced by Prime Minister Boris Johnson in mid-May, boosted real estate lead generation rates.
Alex Solomon, Director of Rightmove’s commercial real estate portal, says, “It’s good to see all sectors recovering following the dramatic fall in demand during March. The relative recovery also makes sense as we see demand for industrial leasehold properties that help service the retail warehousing sector forge ahead at the fastest rate as home delivery makes a huge contribution to the UK population during lockdown.”
The analysis shows the UK commercial real estate sector is intact and demand is expected to rise throughout the year, says Knight Frank.
Long-term inquiries in the industrial and logistic sector are increasing across all sizes of property. UK retail and leisure property is also attracting more interest.
More than half of 300 investors polled by Knight Frank intend to make commercial property investment during the next three months.
The pick-up in the UK commercial real estate sector is mirrored by other professionals across the country.
Read more about logistics being the top market performer.