New study predicts UK property boom

Small and medium sized businesses are set to drive a commercial property boom in the next two years, according to a new study.

Research from by finance specialist Together shows nearly six out of ten SMEs (58 per cent) – nearly 3.4 million across the UK – say a boost in business is driving a need to move or extend their existing site for additional staff and equipment as well as space for storage.

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Among firms with property plans, 30 per cent are looking to move to bigger premises while one in six (16 per cent) aim to extend their existing facilities. Another one in eight (12 per cent) will buy additional buildings or construct them from scratch.

However, some businesses fear their ambitions to expand could be hampered by a shortage of suitable property.

Nearly three out of four SMEs in London (73 per cent) and 71 per cent in the North East are planning to grow their premises over the next two years. SMEs in Wales (64 per cent) and the North West (63 per cent) are also focused on growth.

However, the survey revealed that about 29 per cent of SME bosses say there is a real estate stock shortage in their area, with the South West facing the biggest shortfall.

Around a third (35 per cent) of companies are worried about the costs of moving while 27 per cent are concerned about the potential disruption. Around a fifth (19 per cent) say they are nervous about the process of moving.

Finance is also a concern for business owners, with around 200,000 SMEs saying they are worried about lenders not understanding their business, while nearly 300,000 are concerned about the speed of decision making by banks.

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Thinking of buying a property?

Need help with residential and commercial property purchase/finance in the UK from start to finish, Please Contact me

Selling or renting your property in Greater Manchester? Get same day EPC for £45 only

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

How to know a good building contractor

One of the most important decisions you are likely to make when undertaking a building project of any size is that of employing the services of a building contractor or property professionals such as electricians, plumbers, gas engineers, etc.

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Before making the all-important decision of awarding the contract to a specific builder or professional, it would not be unreasonable to as to see work on which they are currently engaged or recently done. Seeing at first hand and speaking to the client on how they treat the client’s property and how they work will give you an idea of what to expect if you decide to employ them.

Below are some tell-tale signs of good building practice and responsible behaviour:

  • vehicles associated with the site are parked sensibly
  • the site on first appearance is clean, tidy and organised
  • roads and pavements are not damaged or muddy
  • where appropriate, suitable fencing is available
  • the site facilities are appropriate for the project
  • workers’ appearance is in keeping with a professional outfitSee the source image
  • equipment is clean and in good order
  • no trailing leads are evident, except in close proximity to the work
  • standard of work appears to be good
  • workers are polite
  • noise levels are acceptable (no loud radios)
  • security and health & safety signs are evident, ie visitors to report to site office, there are warning signs for pedestrians that construction work is in progress, standard health & safety signs.
  • workers are wearing Personal Protection Equipment
  • the company vehicles are well presented
  • a company sign is on display
  • where appropriate, material is neatly stacked and protected

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Thinking of buying a property?

Need help with residential and commercial property purchase/finance in the UK from start to finish, Please Contact me

Selling or renting your property in Greater Manchester? Get same day EPC for £45 only

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk