Welsh offices ''bucking national trend'' - commercial mortgages

01 February 2008

In news which may interest those with commercial mortgages, it has emerged that commercial office development in mid and north Wales is performing better than elsewhere in the UK.

Although a survey by the Royal Institution of Chartered Surveyors (Rics) found that demand for commercial property fell in this area as elsewhere, work on creating new offices rose by a third, the Daily Post reported.

This may create a number of investment opportunities for buyers to acquire commercial property ahead of a market recovery.

A major factor in the building of new offices has come from the creation of regional offices by the Welsh assembly in locations such as Llandudno Junction, Rics said.

Earlier this week consultancy Sanderson Weatherall found that the city of Leeds has been enjoying a boom in demand for commercial office space in the last year, with demand rising to 590,000 in the last quarter of the year from 507,000 in the equivalent period of 2006.