Southwest property consultants Vickery Holman enjoyed a successful end to 2014 with over £7 million worth of transactions completed in the final two months of the year.
The deals included the sale of Plymouth’s Tamar House, Royal Building and Kinterbury House for £3 million, £2 million and £350,000 respectively. The St Ives Factory at Langage was also sold for £1.8 million.
Finally, the year ended with the £290,000 sale of units 2A and 2B on Lee Mill Industrial Estate alongside the A38 Devon Expressway. The 2,400 sq ft units benefit from extensive car parking and yard space and currently deliver a rental income of £26,000 per year.
The flurry of deals left Vickery Holman’s investment consultant, Mike Oldrieve, anticipating a ‘cracking’ start to 2015, before an anticipated slowing of the market in the run-up to May’s General Election.
“There are still plenty of cash purchasers which are now being supplemented by the major banks who are once again lending on commercial property,” he said.
“As demand picks up however, supply of new investment stock is becoming limited and prices will certainly rise.”
Mr Oldrieve advises anyone considering the disposal of commercial property to act in the window of opportunity that exists in the early part of the year. After this, he cautions, the market may not return until later in 2015.
For a free appraisal, contact Mike Oldrieve on 07747 842543 or moldrieve@vickeryholman.com
The picture shows left to right Alan Treloar, Mike Oldrieve and Joanne Harwood of Vickery Holman.
Story: Neil Bird
Photo: Vickery Holman
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