According to recent reports and statistics, the demand for commercial property is really starting to see increased improvements with activity in the UK commercial property sector rising from 5.1% in April to 5.8% in May. The main reason for this is down to the improving availability of finances. Many believe that the debt which was held against commercial property in the UK has fallen so significantly in 2012 that banks have now finally been given the opportunity to start to grow their balance sheets again, which has led to increased lending.

Both development companies, HFD Group and Ediston Properties were unsuccessful bidders for the prime redevelopment of Aberdeen city council headquarters, St Nicholas House and are both now ready to challenge Aberdeen’s city council’s process on selecting development companies to partner with on this project.

Hong Kong, for the third consecutive time has topped the list for the most expensive office space in the world with rents achieving as high as £152 per square foot. Londons’ West End has managed to sneak in second with rents achieveing in the high £120’s per square foot. Unfortunately for Europe the next 4 slots are Asian cities, meaning five out of the top 6 most expensive office areas in the world have been achieved in Asia.

When we think about travel around London what inevitably comes to mind is the London Underground and the hectic rush-hour commute. However, a recent study has highlighted how many Londoners are choosing to travel above ground, yet still avoiding much of the travel chaos – by travelling on a bike. 

The latest report by CBRE Global Research and Consulting highlights the huge difference in rental costs across the world as well as measuring the rise and fall of rents in comparison with earlier years. 

Following our recent news articles that a new financial business district is to be constructed at the Royal Albert Docks, the announcement that the first Chinese luxury hotel to be opened overseas will be in London, indicates that Chinese investment in the capital’s property may be becoming a trend. 

Morgan Pryce is regularly updating its followers and readers on the current situation of office space in London. At the moment we have been advising our readers that there is a sever lack of office supply in the market at present, due to many different reasons, such as the halt in developments over the past years since Lehman & Brothers fell into bankruptcy in 2008.

Morgan Pryce recently acquired office space in the heart of Westminster for a newly developed financial business. The client came to Morgan Pryce seeking an extremely specific office requirement; having searched themselves for several weeks they unfortunately came to a number of dead ends due to the specific nature of their requirement.

The London Mayor, Boris Johnson, has recently announced plans to build upon the London Docklands in a deal worth £1 billion to the UK economy. The development at the Royal Albert Docks aims to establish a third business district in the capital and forge new trade links with the Far East, particularly China.

If you work as a commercial property agent you will quickly learn that the original brief that a client gives you will often twist and change before you start negotiating and secure a space.  These changes can vary from the size of the space required, to the budget, to the location of the space and even the length of the term a client can commit to.