Prideview team hosts an exclusive, investors-only, commercial property seminar

For the 9th consecutive year, the Prideview team hosted their exclusive, investors-only, commercial property seminar on Thursday, 29th September 2022 at The Royal Society of Medicine in Marylebone.
Over 100 investors attended the event with many more streaming it live, which covered a number of key topics including online auctions, long-income investments, and adding value to commercial property and finance.
In the context of the media hype around Liz Truss’s budget announcement, which had reached fever pitch in the lead-up to the event, it was of no surprise that 55% of all attendees stated that their main objective in attending the seminar was to get an update on the market rather than actively buy or sell.
Nilesh Patel began the event, introducing the Prideview team and reassuring the audience that with ca. £300m of property deals across all sectors done since Covid-19, operating in a crisis is nothing new to Prideview.
The special guest this year was David Margolis, Partner and Auctioneer at Acuitus Auctions who provided an auction market update, noting that more £1m + deals have been selling in the auction in 2022 compared to the previous 10 years before analysing deals done in various subsectors of the market including the London area, Parades, Developments and Trade Counters. He then walked through the rather troubled lending environment looking at 5 fixed year fixed rates and the issue of falling LTVs as interest costs rise. Interestingly in a poll of the audience, 33% believed Developments may represent the best opportunity in 2023, as developers look to offload sites in the face of increasing finance and build costs.
He was followed by Mark Hoffman, Director at Prideview, who was quick to point out that cash is (and always has been) king in the commercial property sector, and this is where opportunities are expected to abound in the near future – especially in the £2m-£5m sector debt finance is more common. Mark walked through the areas expected to be most popular in 2023 such as the traditionally low yielding ‘hassle-free’ investment sector where yields may well rise and High Street Retail where properties whose rents have already fallen sharply post-Covid could now be picked up at very attractive yields. Mark mentioned that with £126m of deals done at an average of £2m per deal, Prideview will actively be seeking to help buyers seek opportunity in the coming months whilst also assisting sellers exiting assets of all sizes.
It is possible to watch the full recording of the seminar by registering on Prideview’s website or by reaching out to Sejal Kamani at [email protected]. As always they remain on hand to discuss any property investment matter in confidence and host breakfast seminars at their brand-new Stanmore offices on the last Tuesday of every month.