The total value of commercial property investment transactions across Yorkshire and The Humber increased in Q1 2012 to £123m from £54.8m in the previous quarter, according to our latest UK Investment Transaction (UKIT) quarterly bulletin.
Investment activity still down on 2011 levels
Across the Yorkshire region, £123m of transactions were recorded during Q1 2012; an increase of 124% from Q4 2011, but still well below Q1 2011 level of £263.3m.
Office deals dominated the quarter
The most significant deals to take place during Q1 included Liberty Living's acquisition of Clarence Dock student housing in Leeds for £23m, and an undisclosed investor's acquisition of buildings in Fargate, Sheffield for £22m.
Office sector accounted for 46% of total investment in Q2
The office sector, which accounted for 24% of total market in Q4 2011, rose to 46% of total Q1 investments in Yorkshire with £56m worth of transactions. The industrial sector accounted for 22% of the market at £27m, and retail fell slightly to 4.9% at £6m.
Sales in the pipeline
Abid Jaffry, Northern Head of Capital Markets, commented: “The office sector remains the most appealing to investors with sporadic investment in industrial and retail. This trend is likely to continue. There are signs that further sales are in the pipeline on the back of a stronger investor market and potential add-value opportunities.”
REGISTER FOR UPDATES
Get the latest insight, event invites and properties by email