Portfolio professional landlords in the United Kingdom see opportunities despite a tough economic climage with a majority planning to acquire at least one new asset in the next 12 months according to research commissioned by Handelsbanken.
The Handelsbanken Professional Landlords Survey was conducted by PureProfile in March 2023 and involved a sample of 200 professional property investors with an average portfolio of 29 properties valued individually at £14 million. It involved investors from across the country.
James Sproule, UK Chief Economist, at Handelsbanken plc, comments: “The bottoming out of commercial property prices in Q1 2023 corresponds with reasonably positive sentiment expressed towards the sector in this survey.
“Commercial property values saw a major correction in the second half of 2022 as a direct impact of the higher interest rate environment. Average retail property prices were down by 15%, office prices were also down by 15%, and industrial unit prices were down by 25%.
“In addition, there are the ongoing considerations around post pandemic working practices and retailing habits which, until they are more settled, will be weighing on commercial property valuations.”