Europeans investing in UK commercial propertyOctober 19th, 2012 Category: Building Management
Investors from many European countries are snapping up office space and other commercial premises across Britain.
According to Savills, the UK has traditionally been a popular hotspot for European investment and this remains the case today.
As a result, many are continuing to purchase business property in key cities such as London.
Mat Oakley, director of European commercial research at Savills, commented: "Generally, like all cross-border investment, the capital city is the first port of call without a shadow of a doubt."
However, he stressed that European investors are also looking for opportunities in other parts of the country, with places such as Birmingham, Manchester, Edinburgh and Glasgow attracting lots of attention at the moment.
Bristol was identified as another hotspot of activity, along with Sheffield. In fact, he pointed out that only recently, an investor from Norway purchased a stake in the Meadowhall shopping centre.
"The shopping centre market is increasingly attracting some non-domestic investor interest around the UK," Mr Oakley said.
This means there could be plenty of new opportunities for contract cleaners opening up across Britain in the next few months, as occupants of these premises will want to keep them safe, secure and well looked after.
Mr Oakley noted investors from Europe invested about £4 billion in the UK market during 2011. This put them well ahead of investors from places such as the Far East, the Middle East and the US.
"That consistently has been the story – they invested a lot in the good old days," he observed.
Indeed, Mr Oakley pointed out that when the boom was at its peak, European investment volumes were typically around £8 billion per year in Britain.
While the current figure is much lower as a result of the economic crisis across the continent, it demonstrates the UK still remains a popular market to those who are still choosing to tie up their money in commercial property.