CAN Mezzanine charity property portfolio protects sector from market increases of 60% over last eight years
The most recent Commercial Marketing Survey from RICS, (The Royal Institute of Chartered Surveyors) has predicted that the demand for commercial property will increase for the 10th consecutive quarter, with office space remaining the most buoyant. This has led to a number of industry publications commenting on the demand and supply in London’s commercial property inevitably due to move further apart.
Andrew Croft, Chief Executive of CAN has commented on how the CAN Mezzanine charity office space has bucked these market increases. He says,
“The RICS Commercial Market Survey shows that we continue to see an increase in costs of commercial property within all London sub-markets. This is due to a number of reasons, demand outstripping supply which is partly due to the financial crash which slowed development; partly due to the conversion of office space to residential property, and partly due to an increase in requirement.
Those office buildings that are available in a market that is perceived ‘as stable’, makes UK commercial property very attractive to overseas investors seeking a safe investment in turbulent global financial markets.
All of these factors mean rents are moving inexorably upwards. This has vindicated CAN’s strategy to have a mixed portfolio of freehold and long leasehold premises and allows us to insulate the sector from these market increases.
This is most clearly evidenced in Southwark where rents have risen in excess of 60% between 2007 – 2015, while our pricing in our most mature building has risen only 7% during the same period. We have also recently launched a building in Borough at the same price as our CAN Mezzanine in Southwark. ”
CAN Mezzanine is a registered charity and has been operating in the sector for over 11 years. Its charity office space portfolio currently includes six buildings across the London Boroughs of Southwark, Hackney and Hounslow and Bristol, housing over 120 charities and social enterprises.
If you would like to find out more about CAN Mezzanine charity office space contact Gary Phillips firstname.lastname@example.org, or would like to speak to Andrew Croft for more commentary, please contact Helen Boyd email@example.com.