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27/11/2008
Commercial property market 'recovers' |
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An expert has suggested that activity levels are picking up in the commercial property market.
Miranda Munn, managing director of commercial property search engine NovaLoca, claims there was a 27 per cent month-on-month fall in enquiries for all types of commercial property in October but November enquiries have "returned to near-normal levels".
With the majority of enquiries originating from occupiers, the numbers are an indication of the mood of occupiers, Ms Munns suggested.
The search engine has revealed that 35 per cent of leads generated for clients are for buildings of 4,000 square feet or larger, with the remaining 65 per cent of enquiries going to agents with instructions for smaller properties of less than this area.
A spokesperson for the Forum of Private Business has indicated that a "major reason" for the commercial property sector's woes has been "inflexible" contracts as this can lead to firms vacating properties.
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