Mon 16 May 2022
The Royal Institution of Chartered Surveyors (RICS) has published its latest quarterly UK commercial property market survey covering activity during the first three months of this year (January, February & March 2022).
Commenting on the RICS survey, Harry Baines, Partner & Head of Commercial, Shouler & Son, said, “Our experience of the market echoes that of commercial agency peers in the East Midlands who are quoted in the survey.
“That being the scarcity of industrial supply - both in the availability of built units and also commercial land in the development pipeline.
“Looking deeper at the land supply issue, the gap is narrowing between values for land suitable to bring forward for future residential or commercial development uses.
“Indeed, in selected locations across our area of operation, we are seeing land commanding significantly higher values for industrial commercial development potential than for residential - even where both are viable options.
“Albeit in particular locations, presently, this is quite a reversal in recent trends when it comes to land values.
“It’s definitely a trend to watch in the remaining quarters of the year.
“On the high street, ours is a shared experience of a hardening market.
“The majority of our new lettings in that setting are short term leases to, mainly, food and beverage occupiers.”
To download a copy of the RICS Q1 2021 UK Commercial Property Market Survey, follow the link rics.org/uk/news-insight/research/market-surveys/global-commercial-property-monitors.
For more information on the commercial property market in Melton Mowbray and the surrounding East Midlands area, contact Harry Baines at Shouler & Son, email email@example.com, tel 01664 560181.