Director Tom Holloway and Associate Director Craig Powell of
Holloway Iliffe & Mitchell have been quoted in the latest issue of the RICS
UK Commercial Market Survey (Q2 2013). This publication is widely read by
commercial property investors and occupiers looking to gain an insight into the
regional views of RICS Commercial Property Chartered Surveyors in their local
region.
Tom Holloway MRICS, Holloway Iliffe & Mitchell (Portsmouth)
said:
“Where price expectations have been dropped, cash rich investors
are starting to consider purchasing buildings that are either generating little
or no income. Investors are taking longer term views on re-letting and returns as they look to build their portfolios. This is a
potentially positive sign for the market.”
Craig
Powell BSc (Hons) MRICS, Holloway Iliffe & Mitchell commented:
“All sectors are struggling to obtain finance at competitive rates
and a change is being seen where older buildings that may have been demolished
and rebuilt are now being extensively refurbished and offered at lower rents
than a new build. A landlord sees a dated building given a new lease of life
and saves the often high costs of redevelopment. Occupiers can often gain the
same benefits as new build such as energy efficient fittings and open plan
space at an affordable rental level.”
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