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Empty Commercial Property On The Increase - Opportunity Is Here

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    Rob looks into the topic of commercial property and discuss an interesting article about London's office market, highlighting that London's office space is currently experiencing its highest vacancy rates in 30 years, with a 20% contraction in office usage due to post-pandemic hybrid working and a preference for greener buildings in the suburbs.

    Rob discusses the fact that this trend presents significant opportunities for investors and developers, as commercial property giants like land securities are downgraded by analysts. 

    KEY TAKEAWAYS

    • London's office market is experiencing a rent recession, with the highest levels of empty space in 30 years. This is due to a 20% contraction in office usage, driven by post-pandemic hybrid working and a preference for greener buildings in the suburbs.
    • Commercial property giants like land securities have been downgraded by analysts, indicating the negative impact on the market.
    • The upcoming years will see a significant amount of commercial real estate in the US and UK needing to be refinanced. This presents opportunities for investors to negotiate deals and acquire assets from financial institutions looking to offload liabilities.
    • Despite potential higher interest rates in refinancing, as long as the return on investment (ROI) remains higher than the expenses, investors can still be in a positive position.

    BEST MOMENTS

    "London's office market is in a rent recession as volumes of empty space across the West End, City and Canary Wharf hit a 30-year high." 

    "People are starting to figure out that actually working from home isn't the worst thing in the world to do, depending on what job you're doing."

    "They have, I believe they've got trillions, certainly billions, possibly trillions of real estate that needs to be refinanced at some point." 

    "The mainstream media are now starting to pick up a lot more on the fact that commercial property space is becoming emptier in and around London." 

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    ABOUT THE HOST

    Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.

    BOOKS 

    Property FAQs = https://amzn.to/3MWfcL4  

    Buy To Let: How To Get Started = https://amzn.to/3genjle  

    101 Top Property Tips = https://amzn.to/2NxuAQL  

    WHERE TO FIND US

    https://linktr.ee/thepropertynomadspodcast

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