The analysis by Alan Boswell Group assessed 31 major UK cities on various metrics, including business closure rates and crime statistics.
Bradford ranked ‘third most challenging’, with a score of 3.34 out of 10.
The city has a ‘high business closure rate’, with 144.46 closures per 1,000 businesses, and a ‘significant’ crime rate, with 9.5 shoplifting incidents and two non-residential burglaries per 1,000 businesses.
Leeds was placed seventh, with a score of 3.97 out of 10.
The city has a business closure rate of 130.43 per 1,000 businesses and a crime rate of 9.5 shoplifting incidents and two non-residential burglaries per 1,000 businesses.
Wendy Burgess, from Alan Boswell Group, said: “The UK’s commercial property market is undergoing a complex recovery, with investor interest growing in certain regions, while challenges persist in others.
“Cities like Leicester and Bristol benefit from strong retail sales and appreciating property values, while cities such as Cardiff and Birmingham face significant hurdles, including high business closures and stagnant property value growth.”
The study found Cardiff to be the most challenging city for commercial property investment, with a score of 2.72 out of 10.