Property Investment News - February 2012
22/02/2012BRC finds rise in retail footfall
There was an increase in the number of people who visited retailers from November 2011 to January 2012, compared with the same period 12 months earlier. Analysis from the British Retail Consortium (BRC) and Springboard revealed a 1.8 per cent year-on-year rise in footfall, although during the previous three months there was a 2.3 per cent decline...
21/02/2012PwC finds drop in retailers during 2011
An average of 14 shops closed every day during 2011, research conducted by the Local Data Company (LDC) on behalf of PwC has revealed. In 2009, there was a net increase in this class of commercial property of 1.2 per cent, but last year a drop of 0.25 per cent was recorded, the study found. Travel shops, electrical goods retailers, off-licences,...
20/02/2012Commercial real estate investors 'should improve sustainability'
Commercial property investors should consider how to improve the sustainability of their assets, an expert has said. British Property Federation director of policy Ian Fletcher explained buildings with Energy Performance Certificate ratings of F and G will become unlawful to rent out from 2018. Therefore, landlords of business real estate should...
17/02/2012Vacant commercial property 'has residential potential'
Empty commercial properties on the UK's high streets could help alleviate housing problems in some areas of the UK, it has been suggested. According to the National Association of Estate Agents, retail units lying vacant as a result of the current economic climate can be converted to residential space, but not all sites will be suitable. Chi...
16/02/2012Commercial property optimism 'returning'
Some "hotspots" are emerging in the commercial property industry, which has endured a tough start to 2012 after values slid toward the end of last year. Partner at Knight Frank's commercial research team Darren Yates explained the market has experienced difficulty due to the ongoing economic uncertainty in the UK abroad, with occupi...
15/02/2012UK commercial property values dip again
Falling demand for commercial property pushed values of UK real estate down again last month, new Investment Property Databank (IPD) figures have revealed. Average values of all types of business property dipped 0.2 per cent year-on-year during January, while total return dipped to 0.4 per cent - the lowest figure since June 2009, the research fi...
08/02/2012UK towns 'have shop vacancy rate of 14.3%'
During the second half of 2011, the vacancy rates for retail spaces in town centres stabilised, trending at 14.3 per cent. This is according to a report from the Local Data Company, which revealed core areas in the centres of urban districts were generally healthy, but stores in outlying locations struggled. Furthermore, a marked regional divide...
06/02/2012Fall in Scottish commercial property deals recorded during 2011
The value of deals in Scotland's commercial property sector declined by 25.5 per cent in 2011, data published by the Scottish Property Federation and reported in the Scotsman reveal. During the year, the total price of all deals was £1.9 billion, although figures were buoyed by a late rally focused on Aberdeen in the final quarter. Fur...
03/02/2012IPD: London and UK property value discrepancy will widen in 2012
There is likely to be a widening in the difference between commercial property prices in London and those in the rest of the UK in 2012, a leading organisation has said. Reuters reports that the Investment Property Databank's (IPD) UK and Ireland managing director Phil Tily predicts a "growing divergence between the best and weaker perfo...
02/02/2012Stamp duty cut 'halts fall in Irish commercial property prices'
A cut in stamp duty has resulted in the decline of commercial property values in the Republic of Ireland stopping temporarily. This charge was reduced from six per cent to two per cent, which resulted in the price of this asset class increasing by 0.2 per cent during the fourth quarter of 2011, the Ireland Quarterly Property Index from the Invest...