The UK economy grew by 7.5% last year – the fastest annual growth since World War 2. A much smaller than expected Omicron impact on economic output, with December GDP falling 0.2%, is something else to be grateful for. However, 2022 looks set to be the year of inflation and the cost of living squeeze.
Graves Jenkins are regularly asked how the economic picture is affecting the commercial property markets - to which, of course, there is no simple answer. The commercial property markets are varied and often specialist.
Like many other regions, the Gatwick market has seen a boom in values in the industrial/warehouse sector. Commercial land values in Manor Royal have reached record highs. The office market has been understandably quieter however demand remains for smaller stock and values for the best quality office accommodation have sustained well. High Street retail has suffered for obvious reasons in particular larger prime town centre units, but diversified demand across a wide range of retail, restaurant, service and studio sectors had been fuelled by a relaxation of the Use Classes Order.
At Graves Jenkins, our agents are experts in the industrial, office, retail, occupier, investor and development markets. Please contact David Bessant (07767 422530 or email@example.com) and Stephen Oliver (07786 577323 or firstname.lastname@example.org) for any more information on the markets and how we can improve the performance of your commercial property.
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