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26/05/2009
Commercial property decline 'coming to an end' |
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The commercial property rental sector is bottoming out, with the market set to begin its recovery, it has been stated.
Head of office agency in Leeds for public-private partnership facilitators GVA Grimley Dan Hodges said: "In terms of office markets it's slowly but surely getting better."
Leasehold sales and lets are improving and the underlying factors such as developments in equity, investment markets and banks are all heading in the right direction, he noted.
"We've not yet turned a corner but we've seen the worst of it," Mr Hodges concluded.
Such comments may be of interest to those interested in leaseholds or lease extensions, for whom consulting a solicitor may be the next step.
This month's CBI/GVA Grimley corporate real estate survey revealed that nine per cent of firms were taking up more office space and 26 per cent less, but this balance of minus 17 was better than the minus 24 that had been predicted.
Written by Pauline Adams
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