News: Strong start for commercial property investment in Yorkshire
Total commercial property investment for Yorkshire reached £665.48m during the first half of 2014, which is a 56% increase on the corresponding period last year and close to the figure for the whole of 2012.
Commercial property consultancy Lambert Smith Hampton (LSH) tracks the region's deals in its UK Investment Transactions report.
The latest report also reveals a marked difference between the two quarters: £185.5m of investment transactions was reported between April and June, which is a 60% drop on an extremely strong first quarter.
Investment within the office and industrial sectors in Yorkshire rose compared to Q2 2013. Office investment has increased by 23.8% and industrial the greatest increase at 31%.
Investment across all regions hit £9.5bn during the first six months of the year compared to £5.9bn in the first half of 2013.
Significant regional transactions in the first quarter of 2014 include Aviva Investors' Lime Property Fund purchasing the long leasehold interest in Capita Park at Manvers, Rotherham for in excess of £30.5m from a private investor and Rotherham Council concluding a multimillion pound forward-funding deal that enabled development to begin at the R-evolution @ The AMP scheme.
Significant transactions in the second quarter include F&C UK Real Estate acquiring a 51,000 sq ft retail warehouse unit let to B&Q at Northfields in Rotherham for £10.5m and LondonMetric Property Plc snapping up the massive new Parcelforce distribution centre at Templeborough in a £10.3m deal.
Abid Jaffry, director and regional head of capital markets at LSH, said: "We've seen a fundamental change in the market. Deal volumes are up more than 50% from this time last year and investors are much more active in the regions. Although we have seen a drop in the total value of deals for Yorkshire this quarter, compared to an exceptional Q1, we expect overall volumes for 2014 to surpass those of 2013."
Lambert Smith Hampton website
Images: CPP
Commercial property consultancy Lambert Smith Hampton (LSH) tracks the region's deals in its UK Investment Transactions report.
The latest report also reveals a marked difference between the two quarters: £185.5m of investment transactions was reported between April and June, which is a 60% drop on an extremely strong first quarter.
Investment within the office and industrial sectors in Yorkshire rose compared to Q2 2013. Office investment has increased by 23.8% and industrial the greatest increase at 31%.
Investment across all regions hit £9.5bn during the first six months of the year compared to £5.9bn in the first half of 2013.
Significant regional transactions in the first quarter of 2014 include Aviva Investors' Lime Property Fund purchasing the long leasehold interest in Capita Park at Manvers, Rotherham for in excess of £30.5m from a private investor and Rotherham Council concluding a multimillion pound forward-funding deal that enabled development to begin at the R-evolution @ The AMP scheme.
Significant transactions in the second quarter include F&C UK Real Estate acquiring a 51,000 sq ft retail warehouse unit let to B&Q at Northfields in Rotherham for £10.5m and LondonMetric Property Plc snapping up the massive new Parcelforce distribution centre at Templeborough in a £10.3m deal.
Abid Jaffry, director and regional head of capital markets at LSH, said: "We've seen a fundamental change in the market. Deal volumes are up more than 50% from this time last year and investors are much more active in the regions. Although we have seen a drop in the total value of deals for Yorkshire this quarter, compared to an exceptional Q1, we expect overall volumes for 2014 to surpass those of 2013."
Lambert Smith Hampton website
Images: CPP
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