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Property transactions double but still lag behind

Investors have almost doubled the value of commercial property transactions in Yorkshire, according to property consultants Lambert Smith Hampton.

However, the level of deals is still slightly below the level at the same time last year.

LSH says the total value of Yorkshire investment deals in the third quarter of 2012 rose to £303 million from £172 million in the previous quarter, but was below the £306.5 million total for the third quarter of 2011.

The vale of retail deals rose to represent 83.5 per of the total in the third quarter while the value of office deals fell dramatically.

LSH northern head of capital markets, Abid Jaffry, said: “Investor demand within the region remains focused on the retail sector with appetite for office and industrial stock continuing to be limited.”

Group chief executive, Ezra Nahome, added: “Overall, investors continue to be wary of regional investment due to the depressed occupier market.

“However, one trend that emerged this quarter was that when large, modern and well-let regional shopping centres and retail warehouses come to the market they attract purchasers, mainly because of the secure income they offer.

 

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