Howells was recently featured in the most recent edition of Wales Business Insider. In a piece written by Geoff Wright about the rising confidence of property investors in Wales, Mark Hobbs, Managing Partner of Howells, provided his opinion on the sector.
The article documented the large increase in businesses and individuals looking to invest in the Welsh property market over the previous 6 months. In particular, industrial units are proving popular with investors while increasing amounts of people are choosing to invest in land. Many people are also targeting property to be used by government departments, utility companies and housing associations.
What’s more, with the property market in London and the South East already looking buoyant, and because it’s possible to buy buildings for less than they cost to build in some areas, other experts are anticipating that growth will spread across the country.
In the article, Mark agrees the sector is doing well with large transactions occurring in the last 6 months but stresses that investors still need to take a long-term perspective when they’re looking at commercial property.
He added: “There is an appetite to spend. The banks are more willing to lend and some properties are being bought off-plan. If people want something, the ability to do a deal is there, especially if the price and location are right.
“Investors must look long term. Don’t just assume that property is a hot ticket for capital growth. You must look out for environmental factors, red tape and changing building regulations.”
Read the article in full here -Wales Business Insider.jpg (1.13 mb)
Whether you’re buying, selling, renting or leasing commercial property, our expert property team at Howells can help. With extensive local property knowledge and decades of legal experience, we’re on hand to ensure your experience is as smooth as possible. Call us today on 02920 404027, email commercial@howellslegal.com or fill out our online enquiry form.
by Tristan Lewis
