Despite uncertainty surrounding Brexit, Stratton Creber Commercial (SCC) is bucking the trend and reporting its busiest new year trading period for more than ten years.
The company’s agency department has received an overwhelming level of enquiries from buyers and prospective tenants seeking retail, office and industrial premises across all sectors in Devon and Cornwall.
Already this year, the sales of industrial units 6 and 7 Jon Davey Drive on the Treleigh Industrial Estate in Redruth and 11 Strashleigh View, Lee Mill, were agreed off asking prices of £1.15 million and £620,000 respectively.
Former Plymouth doctors surgeries at Chard Road, St Budeaux, and Tothill Avenue, St Judes, also proved popular, both attracting multiple viewings and proposals and highlighting the shortage of freeholds available.
Previously part of Plymouth Arts Centre, 37 Looe Street is also under offer, achieving in excess of the £200,000 guide price.
Agency surveyor Gavin Sagar says: “High demand for freeholds is outstripping supply and, as a result, sales are being agreed within a matter of weeks.”
The lettings market is also buoyant, with national outdoor clothing retailer Trespass UK snapping up an opportunity to trade within walking distance of the beach at 4 Belle View, Bude.
Other recent retail deals include lettings at 160 Armada Way and 92 Cornwall Street in Plymouth city centre, 56 Notte Street and 7 Stokes Lane in Plymouth’s historic Barbican, and secondary pitches Devonport Road in Stoke, Mutley Plain and Woolwell Crescent.
Elsewhere, activity has been brisk in the South Hams, with units at 22 Glanvilles Mill in Ivybridge, 3 The Anchor Centre in Kingsbridge and 7-8 Union Street in Salcombe all now under offer or completed.
Within the industrial sector, 3 Burraton Road, Saltash, was let to manufacturing company Future Composite while tenants for River Court, Saltash, and 7 Wall Park Close were found within weeks.
Gavin adds: “There has been a surge in retail, office and industrial lettings with start-ups seeking premises and more established businesses expanding and requiring more space as a result.
“Industrial requirements remain buoyant due, in part, to a lack of stock throughout the region.”
The SCC agency team offers advice on the acquisition and disposal of all kinds of commercial properties, ranging in size from the largest buildings, sites and development schemes in the region to some of the smallest.
Managing director Chris Ryland is upbeat about the weeks and months ahead: “We are marketing some fantastic space at landmark city locations, including the Royal William Yard and Plymouth Cross, the site of former department store Derry’s.
“We’re also excited about some heavyweight investment opportunities – at Vision in Devonport, Gordon Terrace off Mutley Plain and Pennygillam Industrial Estate in Launceston. With asking prices from £500,000 to £1.25 million and attractive yields these are, not surprisingly, attracting national interest.”