According to Shawbrook, within that proportion, over a third of those who are planning to do so say diversification is the key driver.
Landlords who already own commercial properties are planning to grow further in the sector, with 35 per cent looking to invest more in this area in the near-term.
Around 36 per cent of landlords said that they had seen an increase in demand for commercial property and saw it as a “good investment opportunity”.
A quarter of landlords said there was a lack of good quality properties for businesses, meaning that there could be a possible need for development or conversion work.
Nearly a third of landlords said that branching into commercial property was a good way to support their local community, with a further third looking to invest in small and large retail space respectively.
Approximately 28 per cent of landlords said they planned to diversify into industrial or manufacturing space and factories or distribution space respectively.
Emma Cox (pictured), managing director of real estate at Shawbrook, said: “Fluctuating prices and high borrowing costs are hampering confidence in the residential property sector.
“As a result, landlords are looking for other ways to diversify their portfolios and cater for current demand. The increase in workers returning to offices and the evolution of local high streets are two examples of areas where landlords will be seeking opportunities to invest, and those who already own commercial properties will be looking to add more.”
She added: “Landlords could become the unsung heroes of the high street, with many planning to support their local communities by injecting new life into commercial properties and retail units.
“Commercial property is certainly a good prospect for those who have typically specialised in the residential market and are looking to adapt their strategies now or in the near future.”
