Office interior market 'looking optimistic'

Office design news from Morgan Lovell

Published on 03-08-2009

There is a present optimism surrounding the commercial office interior market in some areas of the UK, it has been claimed.

Steve Georgiou, director at Property Executive, said that in the north of England particularly there is a "sense of optimism" and also a feeling that the market has "suffered long enough".

As a result, Mr Georgiou feels that many companies are looking for a swift economic recovery in order to make their business models more viable.

He commented: "It is well documented that the investment market is set to do extremely well and I think a lot of investors are already starting to purchase and buy portfolios."

According to the latest quarterly property index report by Jones Lang LaSalle, rents on commercial property fell by 3.1 per cent in the last three months, while capital values diminished by 3.7 per cent.

PricewaterhouseCoopers also recently reported that many overseas buyers are presently put off from investing UK modern office design projects due to the instability of the market.