Bradford enjoys commercial property boom - commercial mortgages

16 January 2008

While the commercial property market has seen a recent downturn, the city of Bradford has been enjoying a boom, a local legal firm has said.

Gordons, which has its own property department, said the commercial property sector in the Yorkshire city had grown by 36 per cent last year and the company forecast that 2008 would also see a healthy situation.

Paul Young, a commercial property partner at the firm, told the Bradford Telegraph and Argus: "The last 12 months have seen substantial growth in the number of property transactions undertaken by the team and we see no sign of this slowing down."

The company believes the situation in Bradford is due to the economic revitalisation of the city, which may encourage investors in the area considering taking out commercial mortgages.

News of Bradford''s success comes as Citywire reports that the Investment Property Database recorded the largest December fall ever in commercial property returns at 3.7 per cent.