Reports are emerging that bank lending conditions for some commercial property ventures are showing the first signs of improvement.
Reports from the infamous “Golden Triangle”, around York, Harrogate and Ripon suggest the limiting factor for many deals may not be commercial property bank financing rather the shortage of available prime stock. Many commercial surveyors agree that commercial and business financing has showed signs of dramatic improvement over the last few months. The limiting factor is available property, with many vendors concerned that it is still a buyer’s market, but agents and surveyors are starting to warn buyers that vendors may well have several interested parties. Some of the most well thought of surveyors in the area are calling a recovery, and say although commercial property buyers are opting for top end prime property with long leases and robust income. The rest of the market is looking to follow as in most property market recoveries.