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Should we fear for Manchester s commercial property market in 2008? |
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HOME >> NEWS >> Should we fear for Manchester s commercial property market in 2008? |
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 Micheal Mercer, head of professional services at CVS.
MAYBE: The fall in the Investment Property Database index since November, together with stricter lending criteria, will adversely affect the investment market. The occupational market is robust. Doubt lies within the industrial sub-market, where investors could lose when Empty Property Relief legislation comes in April. Some landlords are using lower levels of headline rent to attract occupiers, which could have an effect on the market.
Jonathon Dover, comercial property partner at Berg Legal.
MAYBE: A few areas of the market give cause for particular concern, such as the city centre residential market. Hopefully, the retail sector will bear up, and industrials and warehousing remain steady.But there are opportunities, even in these hard financial times. There is always hope that the office market will boom, with all the space insolvency practitioners will need!
Irene Thomas, operations manager at Auction Finance, Manchester.
NO: The commercial property market in the north west remains robust. Developers continue to build their portfolios with commercial property and are now seeing it as a long-term investment rather than a way of making a quick buck. In the rental market we continue to see a steady increase in the number of buy-to-let investors. We lend money to property professionals buying at auction, and we've never been busier. Property will continue to be seen as a safe house for cash in 2008.
Anne Dobie, property partner at Weightmans
YES: Scottish Widows lock-in of investors' money in their commercial property fund for a six-month period shows they are trying to prevent a `fire sale'. Friends Provident's six-month lock-down bears this out. And major institutions may not now be looking for as much commercial space as six to eight months ago.This might be the time for cash-rich investors to look to expand their portfolio.
David McKee, managing partner at Stevens Scanlan, Manchester.
NO: We're quite confident that the commercial property market will hold up at least as well as, if not better than, other sectors during 2008.Residential property has shown a downturn over recent months, and the huge drop in share prices last week has spooked investors. Couple that with likely falls in interest rates that will put off cash investors, and it is really only commercial property that offers a port in a storm for investors looking for a profitable home for their money.
Mark Barker, commercial property partner at Cobbetts in Manchester.
NO: Given that Manchester compares very favourably with a number of other European cities in respect of transport infrastructure, professional and financial services sectors, and its highly skilled employment pool, it will continue to attract corporate occupiers. If the occupiers are there, then the commercial property market will continue to prosper. There is something to suit everyone's taste and pocket, which a number of other regional cities in the UK fail to offer.
Source: http://www.manchestereveningnews.co.uk/ |
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International Corporate Governance
This issue explores how governance attributes are directly related to the substantial variation - across both countries and companies - in ownership, investment and valuation. |
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