Commercial Property In NW 'Booming'
Monday March 24th 2008
A commercial property magazine has highlighted the relative boom in the market in the north-west of England.Property Executive says that while many parts of London and the south-east are struggling with an economics downturn, the north-east commercial property market remains strong.
It says that some companies in Scotland are investing in towns in the north of England which was adding to the demand for commercial property loans.
Steve Georgiou, joint director of Property Executive, said: "Property investment is still pretty big in London, but as far as development goes it's very restricted."
He added: "There are some Scottish companies ... opening up in the north of England.
"There's definitely a cross-culture between the north of England and Scotland."
Birmingham is also expected to see a rush of people applying for commercial property loans after officials announced that a massive £17 billion is to be spent on developing the city.
The decision is likely to open up a huge amount of office space as well as increase the number of visitors heading into the city.