Despite the current economic situation, interest in commercial property in East Yorkshire is actually quite stable. Investors who are not getting a income from investing their money in regular financial products are increasingly looking at commercial property. Simply leaving money in a bank or savings account that is not gaining any interest does not make sense. Investment funds are not performing as well as they once were, so people are looking elsewhere.
Why Interest in Commercial Property East Yorkshire is Remaining Stable
They are not however simply rushing in and buying without research. They are looking for value for money and they are frequently finding it in the north of the country. In the south, the price of property has not dropped off as quickly as it did in the north. It is happening, but more slowly. In the north, prices dropped steeply and have recently begun to stabilise.
This means that commercial property in East Yorkshire represents remarkably good value for money. You get far more for you money than you do in the south, a fact that investors appreciate because it allows them to build a portfolio of different commercial properties.
In the south, you may be stuck with buying only one building. Should the market not be good for that particular type of building it can be difficult to lease out and make money from your commercial property. In East Yorkshire for the same money, you could potentially own several commercial properties. By varying your property portfolio, you can usually make money from at least one of the building types you own. For example if there is not much demand for retail units, there may still be demand for offices. If you have both in your portfolio, you can still make money by leasing out your offices and mothballing your retail buildings.
When it comes to commercial property, East Yorkshire has plenty to choose from. The city of Hull and the surrounding area is a good place to look. You will also find plenty available in the county’s larger towns of Goole, Beverley, Bridlington and Hornsea.
To gain access to a portfolio of the best commercial property East Yorkshire has for rent or for sale, speak to Garness Jones.