Yorkshire commercial property deals second to London
Figures released by property data organisation Datscha showed that Yorkshire commercial property deals totalled over £829 million in the first six months of 2018. This is the largest total of any region outside of London. Datscha says that a lot of property deals were made by North American Investors looking for better performing commercial property than in London.
Notable property deals include Doncaster’s Tesco Extra, sold for £53 million, and the Pinnacle, Leeds, which achieved a sale value of £65 million.
Investors have also bought student accommodation and private rented accommodation in Yorkshire.
The head of research at Datscha, Lesley Males said that there is no sign of the property market in Yorkshire slowing down. She predicted that the commercial property market will continue to be very active for the rest of 2018 and will probably continue to grow in 2019. She dismissed fears over Brexit by saying:
“Even with all the negativity that surrounds Brexit, there is still a real appetite to invest into the UK. Sheffield as an example has already seen two deals worth more than £100m. It is a great location for investors at the moment.”
Compared to London, commercial property in Yorkshire and other Northern regions is competitively priced and can achieve good rental yields and capital growth.
Not all commercial property deals are worth multi-million pounds. There are plenty of opportunities for smaller investors to purchase property using commercial mortgages which are available at historically low interest rates.