Jetev Weblog

Commentators in the Glasgow area believe that the commercial property market of the region is recovering from the recession, due to the millions of pounds of investment money that has been used to provide the area with excellent office space.

A partner in the division of property consultants at Cushman & Wakefield, Steven Newlands, stated that city of Glasgow could not offer much in the way of deals during the initial six months of the year, but now investors are able to splash their cash around a little more.

C&W was responsible for a recent deal that involved the purchase of 44,400 sq ft of office space on West George Street by Kuwait clients, for the total of £16.1m.

According to Newlands, this one of the largest office deals to be completed since the beginning of the year, and that since then a large amount of businesses has come under offer in the Glasgow region.

He continued to say that investors are looking for office relocation properties that have secure tenants with the potential to be long term, such as organizations which are based in the public sector.

Newlands also stated that a pension fund managers and big life insurance companies were returning to the marketplace again, which is helping to fuel the economy of Glasgow and other regions in the UK.

Other forms of investment interest are coming from overseas from countries such as Israel. Due to all of these factors he stated that there is now a large demand for excellent properties that are considered prime.