Sirius Property Finance have a report on the UK’s regional hotspots for commercial real estate, and the North West comes top.
1. The Overall Picture: Across England, there are about 9,000 commercial properties up for grabs right now. The North West of England is leading the pack, with the most commercial properties on sale. Think of it as the hotspot where everyone wants to set up their businesses right now.
Breakdown of the Hotspots:
- North West: 16.6% of all properties
- South West: 15.7%
- West Midlands: 11%
2. Let’s Dive Deeper: Specific Sectors:
- Offices: If you fancy investing in office spaces, London’s the top pick, hosting 21.1% of available offices. But the West Midlands, especially Birmingham, isn’t far behind with 12.7%.
- Retail Shops: Looking to own a shop? The North West is your best bet with 17.4% of all retail spaces. London, however, is a close second with 13.4%.
- Leisure & Hospitality: Think hotels, restaurants, and such. The South West is the king with 22.4% of these properties. But, the North West (yes, again!) is hot on its heels with 18.5%.
- Warehouses & Industrial Spaces: North West leads (surprise, surprise) with 15.4%, and East Midlands takes the second spot with 14.2%.
3. Expert Opinion: Kimberley Gates, from Sirius Property Finance, has some thoughts – “Depending on what type of investment you want to make will influence where you need to look, but the North West looks like a really good investment location with every base, from shopfronts to warehouses, covered. Why is the North West so hot right now? It’s because cities such as Manchester, Liverpool, and Salford are syphoning an awful lot of organisations and businesses away from their traditional London bases due to having more affordable markets.”
Why the North West? Cities like Manchester, Liverpool, and Salford are becoming the new business magnets. They offer more affordable markets, which means businesses are moving there from pricier areas like London. Basically, London’s not the only cool kid in town anymore, and other regions, especially the North West, are getting a bigger slice of the business pie.