Lamport Bassitt Solicitors - Legal News - Commercial property rents 'likely to rise'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Commercial property rents 'likely to rise' Commercial property rents in the UK are likely to increase, it has been suggested. According to Digby Flower, executive director and head of CB Richard Ellis, a reduction in the amount of office space available in some areas will result in such rises. He claimed that the main reason for the fall in availability of commercial property is the lack of finance available for new developments in the wake of the collapse of Lehman Brothers. His comments follow the release of a report by NB Real Estate, which revealed that the amount of commercial property floor space in Britain has decreased for the first time since records began in 1998. A fall of 1.2 million square metres occurred in 2008, the organisation said. Mr Flower remarked: "There has been no new development because the development pipeline was switched off in October 2008 following Lehman [Brothers' collapse] when debt finance for property development ceased to be available." Related Articles: 30/3/2012 - EPC changes to affect buy-to-let landlords 27/3/2012 - Rent increases drive strong buy-to-let yields 27/3/2012 - Property industry welcomes 'sensible' planning reforms 2/3/2012 - Arla advises landlords to 'invest wisely' 1/3/2012 - Basel III could hit commercial property lending More Property Law News