01480 213811

INDUSTRIAL MARKET SHOWS SIGNS OF STABILISATION AND OF PRE-RECESSION VALUES RETURNING

Barford + Co are reporting a good number of recent industrial transactions that are supporting the view that values are stabilising and returning to the level last seen before the recession took hold.

In just the last few months alone, a 2,500 sq ft industrial unit at Orion Court, Eaton Socon has been let to the YRG Group, an open storage site of approximately 0.5 Acres at Little Staughton has been let to a furniture wholesaler, a business unit at Croydon Hill has been let to an artist, a 4 acre development site just off the A1 at Girtford has been sold to an international company, an industrial unit of approximately 3,500 sq ft has been let to an electrical installer in Sandy, a warehouse of approximately 1,500 sq ft at Croxton has been let to an online retailer, a depot site comprising approximately 10,000 sq ft of units on a site of 0.86 acres has been let to a storage company and a tenant has been secured for a 15,000 sq ft factory on Thorby Avenue in March. All of these transactions have been concluded at or very close to the guide rents/prices. However, the pinnacle of Barford + Co’s plethora of recent deals is the sale of Ascension House, Eaton Socon where this high grade industrial unit of approximately 9,000 sq ft has just been sold for a rate equating to almost £71 per sq ft.

Howard Westgate, Associate Director at Barford + Co dealt with all these deals and remarked “It is very encouraging to see so much activity in this sector of the market. The sale of Ascension House represents the highest freehold value achieved for an industrial unit in the area since 2007”.

Mr Westgate continued “Throughout the recession we have seen evidence of a two tier market created as a consequence of some owners/landlords who were coming under pressure from lending institutions and/or burdened by empty property rates agreeing deals at low levels in order to mitigate their liabilities whilst others were able to hold out for higher values. The trend in recent transactional evidence is showing a waning of the two tier market and improving values”.

Barford + Co have extensive knowledge of the Huntingdonshire, Bedfordshire and Cambridgeshire markets and welcome speaking to anyone with commercial property requirements or surplus accommodation which they would like advice on or assistance disposing of.

 

Click to go to topTOP