Latest RICS UK Commercial Property Monitor: Shoulers comments

Wed 08 Feb 2023

The Royal Institution of Chartered Surveyors (RICS) has published its latest quarterly UK Commercial Property Monitor covering the final three months of last year (2022).

Commenting on the report, Harry Baines, Head of Commercial, Shouler & Son, said, “Our view is, broadly, in line with those expressed in the monitor by peer agents in the East Midlands.

“The industrial unit sector is holding its own while retail remains rather stagnant.

“The office agency market is not so influential for us.

“We are fortunate, at Shoulers, to have rural diversification projects in our patch continuing to bring forward attractive industrial scheme development and agency opportunities.

“The picture in the final quarter of last year was, undoubtedly, coloured by the political and resulting economic events of September.

“This is having a new year hangover affecting commercial property market churn in this initial first part of 2023.

“But, thankfully, financial markets appear to have passed through their correction phase and we are definitely in a phase of economic adjustment with investors exploring their best options.

“Bricks & mortar always remain an attractive asset class to investors looking to long term values and steady enough returns.”

Download a copy of the latest RICS UK Commercial property monitor, Q4 2022, here.

For more information on the range of Shouler & Son’s commercial property services, see shoulers.co.uk/pages/commercial-services#/.