December 11th, 2013.
The best UK spots for property investment
Whether you’re looking to start up your own business or relocate an old one, it’s essential to get your location right. But which areas in the UK are best for business? Take a look at our guide:
Property in the capital city of Scotland is set to boom in 2014 when the tram project to the airport opens. This will reduce congestion in busy areas and make the city more attractive to businesses that are looking to relocate – potentially boosting commercial property prices and offering an opportunity for investors. As a result, experts predict that prices are set to rise by up to 10% in 2014.
Cambridge has always been a popular location for commercial investment and is home to companies such as Microsoft and Sinclair. As well as its famous university which employs thousands, the town is home to many high-tech businesses and is often referred to as ‘Silicon Fen’. What’s more, with some of the UK’s brightest youngsters graduating every year, it’s not hard to source a first-class workforce.
Investors love Cambridge for its great transport links to London, and major developments are planned for the city – including: a £750 million redevelopment of its rail station, 1,000 new homes, a brand new hotel and a conference centre. It’s no surprise that businesses love the city and that property prices are set to rise 10% in the next three years.
Bristol is a growing city. In 2008 a new £500 million shopping centre named Cabot Circus opened and the harbourside development is currently being redeveloped. The Temple Quarter near Bristol Temple Meads railway station is also being transformed into becoming an enterprise zone.
Although the port city has a long history in trade, in recent years it has cemented its position in the aerospace industry as well as markets such as IT and finance. If you are looking for commercial premises with great links to the South West and to supply space for these industries then Bristol may be the perfect setting for you.
It may not have the glamour of some of the UK’s more famous northern cities, but Leeds’ office market is considered to offer the best value for money in the whole of Europe for commercial investors. It’s currently the UK’s largest centre outside of London for business, legal and financial services; and a brand new trolleybus scheme will improve transport links for this ambitious Yorkshire town.
The English capital is one of the few places in the UK that’s weathered the storm of the economic downturn and investments continue to rise. Unfortunately, this means that property prices remain high and you’ll need plenty of funds in order to invest. Certain areas of London are doing particularly well such as Islington, Camden, Hammersmith and Fulham, Kensington, Chelsea and Westminster, where prices could rise 25% in the next five years.
Now you have read about some of the best places to invest in property across the UK where will you be locating your business? Whichever city you choose, be sure to consult with your commercial mortgage brokers to ensure you get the best possible deal.