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COMMERCIAL property in the south is showing ‘signs of life’, according to a Portsmouth property firm.

Tom Holloway and Craig Powell, from surveyors Holloway Iliffe & Mitchell, said the retail sector is showing renewed life in particular, as highlighted in the latest report from the Royal Institute of Chartered Surveyors.

Mr Holloway said: ‘The south coast office market is showing signs of life under the 5,000sq ft bracket, with the industrial sector starting to see growth. However the condition, specification and location of buildings are becoming more important to occupiers.’

Mr Powell added: ‘There are a number of encouraging signs in the market with enquires increasing, tenants with more confidence committing to longer term leases, banks starting to finance loans for owner occupiers with a sensible deposit and lettable properties.’