Lending to Milton Keynes commercial property customers has increased this year when compared to 2010 and to date more than £35 million has been committed to the sector during 2011.
This message was delivered at the Lloyds TSB Annual Property Forum held on September 28 2011 at the Hilton Hotel, Milton Keynes, and even supported by agents Aitchison Raffety.
The event brought together more than 100 businessmen and women, all with an interest in property, from across the region to hear the bank’s view on the economic outlook and how it could affect the local market.
Jon Pulford, area director for Lloyds TSB Commercial, said: “I was pleased to see such a strong turnout which shows property businesses in Milton Keynes are working together to do what they can to bring some life back into the market.
“We have seen the desire to develop and build is strong. Investors and developers should remember that funding is available for viable businesses and it is important never to assume you will be unable to secure the financial support you need.”
Adam Chester, head of UK Economic Research for Lloyds TSB, said: “The outlook remains clouded by the degree of economic uncertainty. It seems residential property values are no longer stretched, but the commercial property market is vulnerable to slower rental growth and weak business investment. A fall in inflation which is looking likely in 2012 should help stimulate growth.”
In addition to Aitchison Raffety, the Forum was supported by accountants MacIntyre Hudson and Franklin solicitors as well as the National Landlords Association, RICS and Willis Insurance Brokers.