Commercial property sales in Devon are starting to look promising as we go into 2014, meaning that we may finally be see the most positive outlook going into a new year since the recession. Devon and indeed the South West has a lot to offer commercial businesses in terms of diversity and cost. The care sector in particular has always been resilient in the area and has shown the most robustness for both corporate and private operators when compared with the rest of the UK. The greatest advantage the South West has is that it is cheaper than London and the South East which is enticing commercial businesses to the area. Add to that the lower staff costs, there is even greater incentive to look at commercial property sales in Devon.
Investment And Development Increases In The South West
An increase in investment and development has been noted in Bristol and should continue to spread throughout the South West, with the most attractive business locations being along the main M5 motorway access route down to Exeter and beyond.
When the recession hit, it started a long period of stagnation for investment and for lending. This had a particular effect on A1, A2 and B1 commercial properties as the lack of finance and low demand meant little development. Business and property owners can now look forward as commercial property sales in Devon have received a boost as lending has increased to small and medium businesses.
Opportunities In The Rental Market
A reduction in stock has been noted and some A class premises are being converted to meet the demand for residential accommodation. However, interest in refurbishing existing stock, largely from corporate operators, has created opportunities. This in turn appears to be impacting upon the rental market where price increases could occur as a result of the lack of stock. There are positive opportunities for tenants though as now would be a good time to negotiate fixed rate terms for the next three to five years, as deals are unlikely to be as appealing in 12 to 16 months time.
A Positive Outlook For 2014
Purchasing a freehold interest is an attractive option currently as growing confidence in the investment market means prices should see a steady increase. Lending received a boost towards the end of 2013 meaning funding is also increasingly possible for these purchases.
It is recommended that you get expert advice from a professional commercial property agent regarding commercial property sales in Devon. It is worth making sure they have specialist knowledge regarding a variety of business sectors as well as the specific locations in which you have interest.
Investment And Development Increases In The South West
An increase in investment and development has been noted in Bristol and should continue to spread throughout the South West, with the most attractive business locations being along the main M5 motorway access route down to Exeter and beyond.
When the recession hit, it started a long period of stagnation for investment and for lending. This had a particular effect on A1, A2 and B1 commercial properties as the lack of finance and low demand meant little development. Business and property owners can now look forward as commercial property sales in Devon have received a boost as lending has increased to small and medium businesses.
Opportunities In The Rental Market
A reduction in stock has been noted and some A class premises are being converted to meet the demand for residential accommodation. However, interest in refurbishing existing stock, largely from corporate operators, has created opportunities. This in turn appears to be impacting upon the rental market where price increases could occur as a result of the lack of stock. There are positive opportunities for tenants though as now would be a good time to negotiate fixed rate terms for the next three to five years, as deals are unlikely to be as appealing in 12 to 16 months time.
A Positive Outlook For 2014
Purchasing a freehold interest is an attractive option currently as growing confidence in the investment market means prices should see a steady increase. Lending received a boost towards the end of 2013 meaning funding is also increasingly possible for these purchases.
It is recommended that you get expert advice from a professional commercial property agent regarding commercial property sales in Devon. It is worth making sure they have specialist knowledge regarding a variety of business sectors as well as the specific locations in which you have interest.
About the Author:
For an example of a trusted independent commercial property agency with expertise in commercial property sales in Devon, visit Charles Darrow's website. Their agents have specialist knowledge and experience of commercial property sales in the South West.
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