Confidence ''returning to Welsh commercial property market'' - commercial mortgages

08 March 2007

Investors are demonstrating increased confidence in the Welsh commercial property market, pointing towards a potential increase in the uptake of commercial mortgages in the coming future.

Millions of pounds worth of investment is being channeled into the commercial property development in Wales as investors look towards regenerative schemes and new developments in various areas.

The Julian Hodge Bank Commercial team is one example of positive developments in Welsh commercial property, having written 95 deals during 2006 at a total value of £300 million. Team director Peter Stoneman explained that the market is more settled, fuelling investor confidence.

"Things appear more settled now and we are seeing the wraps come off development opportunities in Wales and elsewhere as confidence returns to the market," he told the Western Mail.

Other property developments in Wales include a £37 million development scheme in Swansea, earmarked for the next 25 years. The project will ultimately create some 3,000 jobs and provide 2,500 homes.