According to Kames Capital’s head of property investment Phil Clark, this uncertainty has led to investors lacking the confidence to invest in anything but the best commercial premises in London and the south-east, to the detriment of the rest of the UK market.
“Last year, the UK commercial property market started with some signs of renewed optimism but in truth, by the mid-year, the only question on our minds was whether the euro would survive, and if not, what impact would that have on the UK, commercial property values and our industry. It is still not clear what the future of the euro will be although it seems increasingly likely to involve some members leaving the eurozone,” he says.
