The UK’s commercial property market stood strong in the face of adversity throughout 2016 and is “looking healthy” into the beginning of this year, according to estate agents.
The comments come from Martin Clark, managing partner at South East England commercial estate agents, Stiles Harold Williams.
Mr Clark says that demand remains high, but that investors should proceed with “cautious optimism”.
His comments echo the sentiment of fellow estate agents Savills, which recently suggested that demand – in particular from overseas investors – is likely to remain high this year, but that political uncertainties associated with Brexit could give way to turbulence in the market.
Mr Clark said that an “assessment of demand” across the sector at Stiles Harold Williams has revealed that “things are far rosier than many expected when they woke up on the morning of 24 June”.
He added: “2016 was a memorable year – although some will want to forget it. But as it ends, we are fortunately still in a state of favourable market activity, despite some unexpected political outcomes both sides of the Atlantic.
“2017 is already looking healthy, with a flurry of occupier and investment deals under offer and new schemes coming to completion.
“We continue to lease high-profile developments … [and] a decent volume of commercial property managements are being taken on by the day”.