insideKENT Magazine Issue 27 - June 2014 | Page 100
COMMERCIAL
Sales & Lettings
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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.”
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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