Manchester and Bristol have been tipped as the next commercial property hotspots as investors look beyond London for better returns.
A new report by CBRE said investors were wanting to see “what life outside of London offers”.
An analysis of expected economic drivers of various towns and cities, such as income trends and demographic predictions, as well as factors such as supply pipelines, universities and housing affordability, has led CBRE to conclude that Manchester and Bristol will be the standout locations for commercial property investment over the next ten years.
Both rank among the cities with the highest growth potential in sectors including office, retail, student accommodation, build-to-rent and senior living.
Outside Manchester and Bristol, Birmingham is expected to experience the biggest growth in the retail real estate market, given that it lags behind most other areas in shops per capita. Belfast, which tops the table for expected consumer spending growth, is set to be the top destination for investment in leisure properties such as bars, restaurants and cinemas.
Cambridge is forecast to have the most laboratory space built over the next decade.
Brighton topped CBRE’s tables in two sub-sectors: senior living developments and hotel investment.
