Business Insider/Andy Hallett – 9 December 2018 This year, the UK’s commercial building industry saw a record £20.7bn of new residential investment. That’s a £2.5bn increase on last year and a record-breaking year for the sector, which employs almost 1.4 million people.
This boom in the industry has also been fuelled by a surge in online commerce.
It was also fuelled by the launch of Airbnb, the popular accommodation and travel service, which offered people the chance to stay in their own homes.
However, with the advent of the internet, it’s increasingly becoming harder to build and manage residential spaces on a small scale.
“It’s becoming increasingly hard to maintain a large number of commercial buildings in the UK,” says Simon Wicks, chief executive of the Property Investors Association, which represents landlords and developers.
“With the internet making it easier to move stuff around quickly, it means that you’re not building enough commercial buildings.
The average commercial building has about 500 rooms.”
With so many commercial buildings out there, it might not be practical for anyone to manage them.
But for some developers, it is.
And while it might be tempting to look at the numbers as a negative, it can also be an opportunity.
“I think a lot of developers are trying to use the opportunity to create more opportunities for their clients,” says Wicks.
“That’s what the internet has done.
It’s made it easy to get information about what’s available and how it’s going to work, but it’s also enabled developers to do things like hire more staff.”
The rise of commercial space In the UK, commercial space is the second biggest industry after tourism.
That number is expected to rise to $10.9bn by 2020, according to an analysis by the UK Property Investor Association.
But there’s a catch.
While that’s a huge increase, the number of spaces has also risen, by about 12% in the last 12 months alone.
And that growth has come in the wake of a number of changes to the way commercial buildings are built.
The rise in the number Ofsted inspections and inspections by developers is one of the reasons why commercial space has become a more popular building type.
According to the Association of Builders and Builders, inspections and inspection reports have risen by about 50% over the last three years.
In recent years, there’s also been a boom in online commercial spaces.
With the rise in internet connectivity, commercial developers have been able to use Airbnb to set up and manage spaces for tourists.
Airbnb has been able create an online booking portal that allows developers to book and manage their spaces.
“The growth of Airbnb is really a response to the changes that have occurred to the commercial space industry,” says Chris Anderson, CEO of the building trade body.
“They’ve recognised that commercial spaces are really important and they want to be able to offer a service that they can offer to people.”
This has enabled developers and owners to create a number commercial spaces that are smaller and more flexible than traditional residential ones.
For example, the company has a new residential property that can be rented out for £150 a night.
But it’s a smaller, less formal version of the standard residential space, which can only be rented for a maximum of £500 a night and only at a certain location.
In addition to Airbnb, developers are also making use of other services like Couchsurfing, where people can stay in apartments and share rooms, for example.
This type of space is ideal for people who want to stay close to home but want to have a bigger, more informal space for socialising.
But the biggest change for developers has been the advent that Airbnb has brought to the market.
It allows commercial developers to rent out large commercial spaces to tourists.
The company also offers a website where developers can set up a business, and allows them to make money from rental income.
“This is really the new frontier for commercial building,” says Anderson.
“For developers, this is a way to get the revenue that they need to operate and grow.”
The new boom in commercial space A new generation of developers is now taking over commercial space.
And it’s not just in London.
In Wales, for instance, there are now over 4,000 residential buildings that are currently being built by developers, up from about 400 in 2016.
And developers are now also being able to lease commercial space for short-term periods.
“There’s a new generation that has a much more relaxed approach to commercial development,” says Graham Taylor, head of commercial development at Lending Club.
“You’re starting to see that a lot more of the projects that are being funded by the commercial sector are going to be smaller, much more short-lived.”
In a recent report from the Institute of Economic Affairs, the Government said that the commercial building sector is the fastest-growing sector in the country.
That means that it’s one of only three sectors where a record