Commercial Property Market Review | February 2024
21/02/2024
The recently released UK Commercial Market in Minutes from Savills has identified 2024 as a pivotal year for the commercial property investment market, with positivity about the year ahead grounded in expectations that Bank Rate will reduce as the year progresses and beyond. This could be an encouraging sign for those looking to obtain a commercial mortgage or property development finance. In the last quarter of 2023, Edinburgh and Glasgow are showing signs of recovery, marked by substantial space requirements from large corporations and a rising demand for flexible office setups, as reported by CBRE. Colliers Industrial and Logistics Team’s latest analysis reveals that prime rents for large distribution warehouses (100,000+ sq. ft) in the UK rose to £11 per sq. ft, marking an 8% year-on-year increase. Read latest commercial property news in our Commercial Property Market Review | February 2024.