Shops to let in North London have, like all commercial property London, suffered in recent years. The credit crunch and following recession hit properties hard in capitals across the world. In many of these, prices have still not recovered. In London, however, the picture is rather different. Commercial property took a real hammering as the economy nosedived, and prime office space in particular was badly hit. That meant a couple of things. Firstly, yields rose quite markedly as sale prices fell but rental prices dropped less sharply. Secondly, there were significant opportunities for outside investors who recognised a bargain when they saw one – which is what happened a while afterwards. The relative strength of the Euro against the pound meant that investors on the continent (as well as further afield) made the most of the depressed prices. Whether it was a high-rise development in the Square Mile or a shop for sale in London, it could be seem as a potentially lucrative buy.
This dynamic led to a strong bounce back in property prices in the capital. This was supported by a relative dearth of fresh development. As the long-awaited recovery appears on the horizon – subject to further shocks from the Eurozone – the bottleneck this will cause is expected to push prices even higher once again. Things in London aren’t exactly ‘business as usual’ but the picture there is far better than in other regions of the country, which helps as well. The GDP figures that the nation awaits from quarter to quarter are not a reliable local indication, since they are not uniform; London and the southeast, in particular, are in a much stronger position economically than elsewhere.
Shops to rent in North London can consequently be seen as an investment opportunity. Property has fallen from grace as an investment in recent times, being blamed as a key strand of the global economic problems that are still working themselves out. Commercial property London doesn’t play by quite the same rules as property elsewhere – office space, industrial, retail or otherwise. This means that, assuming you’re able to be in it for the immediate future, you can expect to make a profit on your purchase. A shop for sale in London might not have the prestige of a skyscraper on Canary Wharf, but with a little research you could find it bringing the same kind of return on investment.
Please visit https://www.claridges-commercial.co.uk