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Commercial News
Commercial property is so much part of our everyday lives it's easy to take it for granted, and forget the key role it had in contributing to a dynamic and growing property economy.
Whether it's your office or factory at work, the supermarket you shop in, or the cinema, hairdresser or clothes shops you visit, commercial property is a vitally important part of a country's economy. Commercial property is the main vehicle for urban renewal. Over £52bn was invested in commercial buildings in 2004
- Commercial property has been the best performing asset class over the last 3, 5 and 10 years (to end of 2004).
- Commercial property made up 6.2% of the UK's GDP in 2004, six times the size of agriculture, more than twice the size of the oil industry, and larger than the banking, transport and communications sectors (and even larger than the financial services industry.)
- Commercial property constitutes 35% of the productive assets of the economy, and contributes over £40 billion to the exchequer in taxes
- Employment in commercial property in the UK is nearly 1.2 million - 54.2% greater than the number of people employed in the residential property sector (778,100.) Employment in commercial property alone exceeds by 400,000 that in the whole motor industry and is twice the size of the postal and telecommunications sector.
- According to information published by the Office for National Statistics in the Blue Book, the value of commercial, industrial and other buildings (i.e .other than residential buildings and agricultural assets) in the UK was £623.5 billion in 2004 - the latest available year [SOURCE: Industry Economics and Statistics Directorate 3, DTI)
According to information published by the Office for National Statistics in the Blue Book, the value of commercial, industrial and other buildings (i.e .other than residential buildings and agricultural assets) in the UK was £623.5 billion in 2004 - the latest available year [SOURCE: Industry Economics and Statistics Directorate 3, DTI)