Yorkshire bucking trends says RICS - commercial mortgages

28 May 2008

In news which may interest those seeking commercial mortgages, the Royal Institution of Chartered Surveyors (Rics) has said that many sectors in the commercial property market in Yorkshire and the Humber are doing better than the rest of the country.

Rics stated that the fall in overall demand was less than elsewhere and that the region was the only one in which the number of occupier enquiries has been increasing, the Sheffield Star reports.

In offices, the number of new enquiries remained the same as the last quarter of 2007.

Richard Corby, a spokesman for Rics in Yorkshire, told the paper there had been a dip in new development as a result of the credit crunch.

However, he said, this had some advantages, noting: "Therefore an oversupply of new space in all sectors will be largely avoided in most of Yorkshire and Humberside."

In one new development in Yorkshire, transport firm National express has just taken up 22,000 sq ft of space in York.

The Bus and Train operator has taken out a lease on Albion Wharf in the city centre, the Business Desk reports.