Insurance News Archive
Commercial buildings insurance holders see regions performing better
People seeking commercial insurance quotes should bear in mind that the gap in performance between central London and the rest of the UK is beginning to close, according to Savills.
This month, the Royal Institution of Chartered Surveyors (Rics) said London's commercial real estate strongly outperformed other areas of the country during the second quarter of the year.
However, Mat Oakley, director of commercial research at Savills, said there is definite evidence of a pick-up in activity among the best regional office and retail markets.
"The rest of the UK is probably coming into the first year of its recovery," he explained.
"There are leaders and laggers in the UK retail estate market and London tends to recover first and then the recovery trickles out of London."
The Rics report also showed strong differences in the levels of available floor space across the UK, with far higher availability in the north of England compared with London.
Posted by Dan Winters
29 Jul 2011
