Commercial Property Remodelling in the UK - Market Research Report (2014-2029)

Building up: Businesses are turning to low-risk remodelling instead of investing in new property, driving growth

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Companies in the commercial property remodelling industry refurbish, maintain, repair, alter and retrofit commercial property and real estate. Before the pandemic arrived and disrupted the broader UK construction sector, the commercial property remodelling sector ebbed and flowed in tandem with the business cycle. Post-referendum market uncertainties limited the propensity of businesses to commit sufficient funds to property improvement projects. Meanwhile, lacklustre occupancy activity in the retail and office markets diluted and prevented any would-be growth over the two years through 2019-20. Over the five years through 2023-24, the commercial property remodelling industry is expected to expand at a compound annual rate of 2.7% to £6.7 billion.

Companies classified within this industry remodel commercial property and buildings. By definition, remodelling includes renovations, alterations, retrofit, maintenance and repair work. The industry comprises general commercial contractors operating across the building construction value chain and specialist remodelling design-and-build companies.