insideKENT Magazine Issue 27 - June 2014 | Page 100

COMMERCIAL Sales & Lettings Tel: 01322 524425 E-mail: [email protected] Commercial Property Sector going from strength to strength In London, the South East and especially the Bexley Borough, the commercial property sector appears to be clawing its way back to prerecession yields and rents. Clear signs of improvement are evident. According to Dr. Jak Kypri, Director of Harpers & Co Residential & Commercial Agents in Bexley, “Our Commercial Agency is fielding a significant increase in enquiries from people wanting to rent and or buy commercial units and offices in the area and appetite for Commercial seems to be back. In fact, in the last month alone we have seen an increase in our enquiries go up by 68% which is a clear indication of new activity in the Commercial property sector.” Register online at: www.harpersandco.com Whereas the housing market is compressed with demand outstripping supply resulting in high residential prices, the Commercial market until now has remained subdued. This is clearly changing though. Momentum in the boroughs and especially Bexley, Dartford, Greenwich and out towards Kent is improving with increased take up, more optimism in the market and better rental yields. Harpers and Co Director emphasises that “we are seeing more and more enquiries from national retailers and solid covenants wanting to re-enter into the High Street and begin trading again. A positive sign”. Dr. Kypri also stresses that “one of the key factors is that Banks and lending institutions are also beginning to look more favourably on lending again on Commercial property. Whereas Banks seemed to have almost closed their books to Commercial lending during the recession, they are now seeing increased value in this once sidelined asset class. Certainly, over the last 18 months it appears that Banks have significantly reassessed their lending criteria in a positive way and look more favourably upon lending with Loan to Value Ratios coming down to more sensible levels. In fact, a growing part of Harpers & Co business is pairing up clients with our in house and independent Commercial Broker who does a superb