Galliard Group has launched Evolve, a new £100m commercial property business, which will develop affordable workspace schemes offering lifestyle amenities across London and the south east. The new operation will offer units for sale or rent to SMEs and, significantly, to buy to let investors.
The first Evolve developments will be in Colchester where units start from £99,000, followed by sites in Milton Keynes and Watford. Further locations are projected for London and the Home Counties over the next five years.
Stephen Conway, Executive Chairman of Galliard Group says: “This launch of Evolve moves our buy to let investment work into the commercial property sector, providing investors with a value for money opportunity to acquire units for rental investment, alongside enabling small firms wanting to rent or buy work spaces to get onto the commercial ladder and move into a vibrant business community complete with lifestyle facilities.”
Investment into commercial property can offer a number of benefits which residential property does not including tax efficiency and, crucially, the opportunity for company directors to hold property within a Self Invested Personal Pension or SIPP. The starting price of £99,000 seems designed to pitch Evolve fairly and squarely at the smaller property investor or landlord who would normally invest in residential buy to let.