Notwithstanding the recession in the economy throughout the world London continues to be an attractive place for business and commerce. Before economic downturn hit the capital, prices of commercial property were sky high and almost unreachable as far as small businesses were concerned. But once the recession set in property owners including freeholders had no option but to reduce prices. As a result the opportunities of buying property brightened for small businesses. Today the ground situation is that in London property investment is turning lucrative.
There’s hardly any doubt about the fact that operating a business with a London address offers certain distinct advantages that outweigh those offered at other places in UK. Having your business address in London gives you an edge over others. London boasts of 5 international airports that offer business owners the convenience of flying anywhere in the world within a short notice. The London Tube is an efficient transportation system that allows commuting from one edge of the city to the other in just one hour. The extensive motorways in the capital have the capacity to facilitate easy running of haulage vehicles to different locations across UK.
Most private investors are of the feeling that buying commercial property in London holds promise. The prices have dropped substantially in recent years, prompting small businesses to cash in on the opportunity, to own a little space in the business hub of the country. The prices have reached a level that they have come within the range of small businesses. Since prices of property are at an all time low this is the right time to invest. Private investors can buy property and wait for recovery of the property market, which is expected to occur within a few years.
Investors with a motive to earn rent are also at an advantage if they buy property now when the prices are extremely low. In the coming years there will be no shortage of tenants in London. If you buy property now it will give you substantial gains few years down the line.
But don’t rely solely on your own knowledge when you set out to buy commercial property in London. You must seek the advice of an expert estate agent. As they hold plenty of local knowledge about London property they’ll help identifies the best places regarding investment. On top of that the estate agent will negotiate on your behalf to help obtain the most favorable terms. The estate agent will also help locate areas ideally suited to investment and avoid areas with no potential for growth.
The economy of London is improving steadily. According to a latest market survey done by local property experts, office space in London is likely to witness an increase in value in a couple of years from now. It is an indication that landlords will be able to increase the rents they charge. To sum up London property investment sounds promising provided the investor is ready to wait for a while to see profits.