Brighter prospects for commercial property, says Ramsdens Solicitors

Oct 13 2009 by Henryk Zientek, Huddersfield Daily Examiner

THE worst of the commercial property downturn may be over.

Paul Joyce, managing partner at Ramsdens Solicitors, said an increasing appetite from private investors may signal a return to boom conditions.

Commercial property has been badly hit – with prices falling by more than 40% since June, 2007.

Mr Joyce said latest research showed that the “free fall” may be over.

But he stressed: “Clouds hanging over unemployment and credit availability still shadow the commercial sector – and with the rental market predicted to fall by 20.5% this year, celebrations are being put on hold for a few months yet.”