With the UK finally coming out of recession after the first double-dip downturn since the 1970s, organisations are turning their minds to the future rather than consolidation and digging in. Property prices have levelled off across the country, although commercial property in london has appeared comparatively resilient – it has pushed up the rest of the country’s property figures over the last few months, though the average is still broadly flat. Now, shops to let in north London provide an opportunity for companies looking to take advantage of improving economic conditions as well as the rather depressed property prices that are still evident. Alternatively, a shop for sale in London may prove a good investment if you are in it for the long term, since prices can in the long run only lift.
The relative lack of space and limited new development suggests that competition will only get harder in the long term. In the near-term, however, there are still a slew of pressures on the market. Continued economic uncertainty – partly around Greece and the Eurozone, but more recently on the looming spectre of America’s ‘fiscal cliff’, which could throw the US and the rest of the world back into recession – means that fluctuations are to be expected for the foreseeable future. Job losses in the public sector and scepticism for the financial sector are not balanced smoothly by the optimism of the private sector and, in any case, the ‘rebalancing’ of the economy means that different sectors are experiencing growth and suffering cutbacks.
All of this means that commercial property in london is in a state of flux, and probably will continue to be for some years. Shops to rent in north London come in all shapes and sizes, suitable for all organisations, and there are plenty of bargains to be snapped up for the company that has the cash to invest at this critical watershed. Alternatively, a shop for sale in London may be a better prospect for some – particularly those with deep reserves who have a business model that is sustainable over the long term. It is worth consulting with an experienced estate agents to make sure that your needs will be met in line with your budget, since the exact location of a shop or other property can make a massive difference to footfall and consequently the success of your enterprise.
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