The UK is the one of the world’s deepest and most liquid pools of investable real estate and has long been regarded a safe investment environment by investors. Mirroring the improvement in the UK economy as a whole, the pace of the UK’s commercial real estate (CRE) market picked up significantly throughout 2013 and exceeded many of the forecasts that were made at the start of the year.
THE INVESTMENT LANDSCAPE IN THE UK -
The UK’s CRE market is vast, valued at £569bn in the British Property Federation’s Property Data Report 2013. Retail and office sectors comprise approximately a third of the market each (valued at £207bn and £157bn respectively) with warehousing, factories, hotels and other commercial property accounting for the remaining £205bn.
The UK real estate market was heavily impacted by the financial downturn. Only London, seen by investors as a safe-haven investment destination, was relatively unaffected, with a negligible difference in West End prime yields between mid-2007 and 2013. The past year has seen a change in both activity and confidence. Throughout 2013 improvement in the UK economy has gathered pace and is expected to continue on this upward trajectory through 2014.
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