Northern property reports solid performance - commercial mortgages

16 April 2008

In news which may interest those with commercial mortgages, it has been stated that the level of lettings demand is holding up well in business parks.

GVA Grimley''s bi-annual Business Parks Review for spring 2008 has stated that in 2007 the level of occupancy reached a total of 5.4 million sq ft around the country, adding that the sector continues to hold up well, the Liverpool Daily Post reports.

Director Simon Reynolds said the current economic situation may have led some to expect the business parks sector to be performing badly.

"However, the outlook is positive with increased levels of demand", he stated, adding that rental growth was forecast to be 2.9 per cent this year and 2.5 per cent on average per year over the next four years.

Meanwhile, property consultancy Lambert Smith Hampton has predicted that Yorkshire and the north-west of England will be the "next big thing" in the commercial property sector, with major growth in locations such as Sheffield, Stoke-on-Trent, Doncaster and Warrington, reports the Sheffield Star.