Farm land among 'most resilient' East Mids property assets
Farm land, prime residential property and potential sites for food, value and luxury retailers remain the "most resilient" property assets in the East Midlands, according to Savills.
It comes after 200 property professionals including some of Savills top experts came together to air their views at The Council House in Old Market Square this week.
Victor Ktori, head of office at Savills Nottingham, said: "We are experiencing one of the most challenging markets in history and we aim to keep clients informed and help them identify where the opportunities are to add value."
Mat Oakley, commercial research director at Savills, said "snow, riots and a lack of consumer confidence" were factors for "restricted growth" in the sector.
Jonathan Morgan-Smith, head of the rural team at Savills, highlighted how the farm land property market has "considerably outperformed all expectations over the last decade". He questioned whether "refurbishment could be the next redevelopment" for offices and commercial space in the region.
Lucian Cook, Savills residential research director, cited a lack of available finance as causing problems for first time buyers, while equity rich areas were helping to keep house sales figures buoyant.
