Commercial property momentum increasing, says Innes England
An East Midlands property expert has said that “momentum is building” in the commercial property market following the axing of the Building Schools for the Future (BSF) programme. Tim Garratt, director of property consultancy at Innes England’s Nottingham office, made the claim as it was announced the company had valued more than £655m worth of educational property so far this year.
The valuations have been carried out for universities, colleges, schools and student accommodation.
Garratt said: “It’s been a busy year so far and the momentum is increasing against the backdrop of spending cuts and the government’s decision to axe the Building Schools for the Future programme.
“This sort of specialist work has become a significant part of what we do now. Clients are requiring valuation work either for accounts purposes or more usually to inform future accommodation strategies. It is an area that is fast-moving – especially with the imminent cuts to budgets.”
