Has the Office Market Been Affected by the Credit Crunch?

The credit crunch has had a deep impact on the office market across the UK and especially in London as it is the financial capital. A huge drop in real estate investment became a trend as people tightened their purse strings. However, many researchers say that the UK has a knack for rapid repricing and hence won’t face a huge loss. The newly built swanky offices throughout London, speak for themselves. A few of the snazzy modern office buildings that came up in the last few years lay half empty as businesses were unsure whether a pretty building with a fancy atrium was a better choice over saving that extra bit. Cutting corners seemed the logical thing to do when the future of your business was at risk.

London, being the financial sector has been more vulnerable as the estate market relies on financial and business sector for leases. Leasing levels in 2008 and 2009 fell by 15% to 50% in London itself but more recent reports show a small growth in the office leasing industry. An average increase of 6.9% was seen in the value of offices. Several construction sites were put on hold which in turn led to a rise in the demand for office spaces and a hike in their prices.

Still, all is not well in the office leasing industry. Severe and fast budget cuts may mean that many new office spaces lie empty as employers throughout the country may be forced to make redundancies. The full effect of the situation will be evident once the effects of the budget cuts set in late this year or early next.

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How to Make Money in Self-Storage

Most Americans have more stuff than they know what to do with. As a result, they need extra space to store their stuff in. This basic need is the back-bone of the self-storage industry. But just because the demand is there doesn’t mean that making money filling that void is simple and guaranteed. The self-storage industry is more complicated than it looks, and there are many important issues to understand and address.

The Right Type of Facility

There have been a number of different types of self-storage facilities built over the last four decades. However, the profitable ones are among the first variety – they are called “Generation One” or “Generation Two”. The important component is that they have all rentable units located on the ground floor, and in a manner that a car can drive right up to the roll-up door. Why is this? Studies have found that self-storage tenants want to be able to drive right up to their self-storage unit door, roll it up, throw their stuff into it (or pull it out of the it), close the door and drive off. What’s not in demand are units that are located on a second floor or higher, or that you can only reach on foot. Nobody wants to have to take an elevator to their unit, or walk down a hallway with their stuff in tow. There never really was a demand for these type of facilities – it was more a fabrication by self-storage developers trying to rationalize building facilities on more expensive land, which required a greater number of units on that “footprint”.

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Real Estate Website Builder

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