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
Bristol has seen and increase in investment and development which is likely to continue, especially along the prime business spots located along the main motorway access routes to the South West. The demand should spread 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.
Looking Forward For 2014
Now would also be a good time to purchase a freehold interest as prices are likely to steadily increase with the growing confidence in the investment market. With lending receiving a boost towards the last quarter of 2013, funding is more possible to make 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
Bristol has seen and increase in investment and development which is likely to continue, especially along the prime business spots located along the main motorway access routes to the South West. The demand should spread 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.
Looking Forward For 2014
Now would also be a good time to purchase a freehold interest as prices are likely to steadily increase with the growing confidence in the investment market. With lending receiving a boost towards the last quarter of 2013, funding is more possible to make 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:
To find out more from a reputable company regarding commercial property sales in Devon, visit Charles Darrow's website. This is an independent commercial property agency with agents having 30 years of experience in commercial property sales in the South West.
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