News

A Bright Start to 2019

Stratton Creber Commercial (SCC) is reporting a bright start to the new year, despite mixed industry forecasts.

In a week when global property firm Savills said it expects property sales to fall due to Brexit uncertainty, local property consultancy SCC is reporting a buoyant trading period.

The agency team says demand for commercial property is strong, particularly for freehold opportunities across all sectors.

Already this month, the sale of Lee Mill industrial unit, 11 Strashleigh View, has been agreed off an asking price of £620,000. The 7,000 sq ft of open plan space with access to the A38 was snapped up in less than a week, highlighting the shortage of freeholds available.

Industrial space to let is also in high demand with modern units at River Court and Burraton Road in Saltash now under offer.

Activity in the Plymouth office market continues with freehold sales of the Devon Chamber building in Lockyer Street and the former Plymouth Arts Centre achieved at the end of last year.

The previously vacant office building 7 The Crescent is now almost fully occupied, with one suite remaining after lettings to Plymouth Defence Solicitors and Colin Brazier Psychotherapy.

Elsewhere, a flurry of deals in the South Hams contributed to a prosperous end to 2018, with a sale of the former Sea Chest in Salcombe completing. The ground floor remains as retail space available for occupation in April with a number of interested occupiers, while the first floor is undergoing a residential conversion.

The firm was also behind the opening of one of Aldi’s large outlets in Bodmin, Cornwall where a local developer’s site was introduced to the retailer by Stratton Creber Commercial.

Managing director Chris Ryland says: “While we are in uncertain political times, I am pleased to report a great start to the year for Stratton Creber Commercial and some exciting projects on the horizon in 2019.”

Stratton Creber Commercial is involved in a number of landmark initiatives including the launch of retail and leisure opportunities at the £50m Plymouth Cross development which will be open for business later this year.

The mixed-use redevelopment of the former Derry’s department store includes a range of units, from 1,300 to 4,000 sq ft, that are expected to attract shops, cafes and restaurants.

The firm is also marketing commercial space at Royal William Yard on behalf of award-winning developers Urban Splash.

In Cornwall, new recruit Joseph Rea has been instructed to market an exciting industrial opportunity in Redruth for Severn Subsea Technologies, part of the Severn Glocon Technologies Group at £1.41m.