The number of offices being sold with development rights
for conversion into homes is leading to a shortage of commercial property, the
Royal Institution of Chartered Surveyors has warned. The trend is most apparent
in London and the south but nationwide availability of commercial property is
declining at an alarming rate. RICS says the lack of stock is pushing investors
away from prime location and into ‘B’ grade commercial investments. In its
latest survey of chartered surveyors, RICS reports that 49% of respondents said
'office to homes' activity was having a ‘moderate’ impact on the commercial
market, while almost one in five said it was having a ‘substantial’ impact.
Read more on the RICS website.
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