Retail investment sales tell a different town centre tale

Retail investment sales tell a different town centre tale

The recent sale to two retail properties on Huntingdon High Street reinforces the position that town centre bricks and mortar still retains appeal to property investors.

That’s the view of the Huntingdon office of Eddisons incorporating Barker Storey Matthews who, as the sole selling agent on each property, has confirmed the completion of the sales of 34 and 87/88 High Street to new owners while tenants in situ and trading on current lease terms.

The restaurant premises of 1,580 sq ft (146.8 sq m) at 34 High Street were offered for sale with a published guide price of £245,000.

The retail element of the 1,461 sq ft (135.73 sq m) premises sold at 87 and 88 High Street is occupied by a florist and has three single bedroom flats too.  It was marketed for sale at £425,000.

While the prices achieved on sale remain confidential, the agent confirmed that that the properties’ new owners will achieve net rental yields reflecting the current local – and national – retail market picture.

Speaking on behalf of Eddisons incorporating Barker Storey Matthews, Matthew Hunt of the Huntingdon office said, “Media headlines about high streets, understandably, focus on retailers’ operational difficulties in the present climate but property investors always look to the long term.

“There is movement in the retail investment market and as retail operators focus their attention on the immediate and also post-pandemic trading conditions, it’s a boost for Huntingdon to know that the right premises in the right location still offer returns as an attractive investment.”

For more information on retail property opportunities in the Huntingdon area, contact Matthew Hunt at the local office of Eddisons incorporating Barker Storey Matthews, tel 01480 451578 or see eddisons.com/barker-storey-matthews.

Suffolk Chamber set for 2021

Suffolk Chamber set for 2021

Simon Burton, Director, Eddisons incorporating Barker Storey Matthews is Chair of Suffolk Chamber of Commerce in Bury St Edmunds.

The following article is reproduced here by kind permission of Suffolk Chamber of Commerce and a version recently appeared in the Bury Free Press.

As this is being written the UK and the European Union (EU) are in the final days of their negotiations over a trade deal.

Soon, we will all be, hopefully, clearer as to whether the UK has a bespoke arrangement with the EU or whether it will trade with the 27 countries under World Trade Organisation (WTO) rules.
In either case, things will be different for both businesses and individuals with regards to their interactions with the EU.
For Suffolk businesses, navigating the new arrangements will be made somewhat easier thanks to two trade business advisers who sit within Suffolk Chamber’s new policy directorate.
Koyas Miah and Mike Chapman have been employed by Suffolk Chamber of Commerce with funding from the Suffolk Public Sector Leaders’ (SPSL) group.
The SPSL has just confirmed that it will both continue with this important relationship and expand upon it as we enter a post-transition environment.
Over the next three years, this arrangement will allow Suffolk Chamber to support the continued strategic growth of Suffolk’s economy and business community and to support future local and regional business interests.
It will also allow the Chamber to expand the breadth and depth of what it can do to help Suffolk businesses and ensuring the team supports local businesses and fosters relationships with international markets.
They will also identify, encourage and foster relationships with EU businesses, provide tailored advice and support to Suffolk businesses looking to enter international markets, and protect local business interests which need to operate under the new rules following the UK’s exit from the EU.
In short, this opportunity will help the Chamber’s trade team promote and enhance Suffolk’s offer to the world, drive growth and investment and help local businesses navigate the new norms ahead.

Chamber research to date indicates that Suffolk exports nearly half a billion pounds per annum and it is therefore vital that we continue to support businesses from 2021 onwards.
For more information about Eddisons incorporating Barker Storey Matthews in Suffolk, contact Simon Burton, [email protected] and for Suffolk Chamber of Commerce see www.suffolkchamber.co.uk.

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For any press queries, please contact:
Richard Jones, Eddisons incorporating Barker Storey Matthews, 01733 897722, [email protected]

Eddisons donate £2,500 to the ‘Variety’ children’s charity

Eddisons donate £2,500 to the ‘Variety’ children’s charity

It’s been an unprecedented year in so many ways and whilst the health and wellbeing of our Eddisons friends and colleagues has been at the forefront of our minds throughout these challenging times, we are also aware of the bigger picture in relation to others less fortunate than ourselves. As we are unable to hold our much loved ‘Christmas Do’ this year, we have instead made a donation of £2,500 to the ‘Variety’ children’s charity.

Variety bring a little bit of magic into the lives of disabled and disadvantaged children and their families over the festive season and throughout the year. We look forward to the time when in the (hopefully) not too distant future, we can all get together again and raise our glasses to a happy and healthy 2021 for everyone.

To find out more about the wonderful work that the Variety charity do or to make a donation please visit: https://www.variety.org.uk/ 

Industrial property leads the way for Huntingdon

Industrial property leads the way for Huntingdon

Strong interest in industrial premises and business units has characterised the Huntingdon commercial property market this year (2021) and has remained consistent in the final months of the year, according to the local office of Eddisons incorporating Barker Storey Matthews.

Richard Adam, who is head of the firm’s office in the town, has been speaking about the local market for business units in considering how Huntingdon and the district’s other towns, including St Ives and St Neots, can meet future demand.

He said, “Commercial property moves in the industrial sector of the market, in particular, have certainly bucked the trend when set against wider business trading conditions over the last few months.

“Demand for business units has been strong throughout the whole of the year and we are always seeking new instructions to satisfy the property requirements of a mixture of tenants and occupiers.

“While all property sectors have faced difficulties – most obviously the office and retail markets have been under the most pressure – the adaptability of light industrial units for business use sees these types of property holding up well.

“Such industrial units offer flexible accommodation for use in manufacturing or storage and distribution. Some also suit R&D use and others can be adapted in part for office-type occupiers.”

Eddisons incorporating Barker Storey Matthews acknowledged that the A14 upgrade has improved access throughout the district this year and helped to profile new commercial locations in the area, as well as reinforce the desirability of established trading areas of Huntingdon, St Ives and St Neots.

In addition, Richard Adam pointed to the role that brand new, small industrial schemes have played in underpinning this property sector in the local market.

“We have been actively involved in the promotion and sale of two new schemes in St Ives, at the Lakes Business Park, adjacent to the A14 (now the A1307 local road) and all units there have now been secured by buyers and tenants,” he said.

In explaining the success of these schemes, Richard Adam confirmed that these types of units have attracted particular interest from owner-occupiers seeking to purchase such industrial units through their own private pension funds and then occupy via their trading businesses.

Looking to activity in the year ahead (2021), Richard Adam concluded, “To meet ongoing demand in this sector of the market, we have several clients who are actively looking to develop further sites in the Huntingdon, St Ives and St Neots area.

“This, in turn, should create further availability of such light industrial units for flexible business use towards the end of the coming year.”

For more information on the commercial property market in Huntingdon and the surrounding district, contact Richard Adam at the local office of Eddisons incorporating Barker Storey Matthews through eddisons.com/barker-storey-matthews.

 

Find out more 

For any press queries, please contact:
Richard Jones, Eddisons incorporating Barker Storey Matthews, 01733 897722, [email protected]

Suite suits healthcare manufacturer’s office needs

Suite suit healthcare manufacturer’s office needs

An office suite in Newmarket has been let by Eddisons incorporating Barker Storey Matthews to Nitritex Ltd – a manufacturer of healthcare and cleanroom materials.

Eddisons’ Bury St Edmunds office acted as sole agent in the letting of the 2,018 sq ft (187.47 sq m), modern ground floor office suite at 15 Kings Court on Willie Snaith Road in the Suffolk.

The new tenant joins a range of office, service and retail occupiers in Newmarket’s main business district on the edge of the town, close to the junctions of the A14 and the A142, with onward access to Cambridge and the M11 and also the East Coast ports.

Emma Allen, of the Ansell Nitritex group, said, “Nitritex Ltd has operated from Newmarket for more than 20 years and we are so pleased that we have found a new home at Kings Court in which to continue our journey.

“As a Life Sciences Solutions business our UK sales and support team are approaching a very exciting new period in our company’s history, so we are all looking forward to having a lovely office space to enjoy whist we continue to grow and support our customers.”

For more information on similar office suites to let in Newmarket, contact Simon Burton tel 01284 702655, [email protected] or see eddisons.com/barker-storey-matthews.

Industrial & logistics are the unsurprising stars in 2020’s year of commercial property moves

Industrial & logistics are the unsurprising stars in 2020’s year of commercial property moves

The industrial and logistics sector remains the unsurprising star turn in the commercial property market in the Eastern region in 2020, with other sectors falling away largely due to the prevailing drift of already established global trade trends and reinforced by the obvious impact of the Covid-19 pandemic.

That, in summary, is the experience of the past twelve months by leading chartered surveyors and commercial property experts, Barker Storey Matthews – whose integration with Eddisons completed last month (November) following acquisition last year (2019).

In reviewing the activities of its agency reach across the Eastern region from offices in Peterborough, Huntingdon, Cambridge and Bury St Edmunds, Eddisons incorporating Barker Storey Matthews (as the firm is now badged) points to the leading role the industrial sector, in which logistics sit, has played in being fuelled further by business lockdown phases which have characterised all quarters of the trading year.

The phases of lockdown resulted in huge surges in online orders and deliveries which has also led to enhanced investor appetite in the industrial sector.

Investors seeking freehold opportunities have focused even more attention on the industrial sector this year as the appetite for retail investments and offices wanes.

The regional sense of the market in 2020 has been reflected in the micro-markets in which its local offices are so active.

Industrial stock levels remain at an all-time low in Peterborough.

Eagle Business Park in Yaxley continues to perform in meeting demand in this sector with the new build schemes of its second development phase.

Heron Court has been completely let and sold in 2020 and Slater Court is 90 per cent under offer prior to practical completion before the year’s end. Many units at two schemes coming on stream in 2021 are already reserved off-plan.

While the office market has slowed, office occupiers reviewing their requirements have made the 1,500 sq ft market a little more buoyant than pre-Covid-19.

The year has seen a number of small new industrial development schemes serve the local markets around Huntingdon and the local office is instructed on a number of similar small schemes set to be underway for occupation at the end of 2021.

The completion of the A14 upgrade sees improved transport links between Huntingdon and Cambridge now affording a viable opportunity for technology and R&D occupiers to take advantage of relatively competitive rents in this important corridor. There are a number of active enquiries from technology firms looking for such opportunities.

Investor appetite remains in Cambridge – evidenced by a number of current ‘live’ deals where achieved prices are 10-20 per cent above asking prices and that range is not untypical.

Prime office areas are holding up as supply is tight but occupiers are looking for more flexibility. Unsurprisingly, smaller serviced offices look set to come in to play more in the coming year (2021).

Equally unsurprising is the resilience of the laboratory market, with the traditional science park locations in and around the city as in demand with niche occupiers as ever.

Across the whole Eastern region and to date, deals concluded with occupiers across this year are down on 2019 by around 15 per cent.
Notwithstanding the problems in the wider economy caused by the pandemic, the figure represents a resilient property sector. More remarkable is that prices and rents have continued to rise, largely as a result of a chronic shortage of space in the market.

How long this will continue remains to be seen but the Eastern region, as a whole, has not yet seen large scale vacancy issues – albeit the retail sector will, inevitably, give rise to more concern in the coming months as we enter 2021.

Before faced with problems caused by lockdowns, many occupiers were reluctant to cite BREXIT as an explicit reason to abort a move. But the inevitable end of the transition phase of BREXIT – and whatever follows – will remain an influence on some business occupiers’ decision making in looking to the other side of the pandemic.

The chorus of high street chain failures will continue to affect retail property fortunes and, unfortunately, this may well be joined by the leisure sector as many firms are struggling with the impact on trading.

In general, the office market has turned from a ‘patchy’ performance, in to one of uncertainty as firms get to grips with shifting patterns of work, primarily working from home (WFH).

Interestingly, however, Eddisons incorporating Barker Storey Matthews is seeing more enquiries in the Eastern region as companies consider relocation from larger, metropolitan cities. This is a trend expected to continue forward to 2021, at least in the short term.

Larger companies are also focusing on adapting offices to provide more conferencing and meeting room facilities. They are also looking to host reduced desking to allow for the WFH environment but, in doing so, want to offer staff better quality facilities for the reduced hours expected in the corporate facility.
In saying that, there is the expectation of some migration back to office space in the coming year, especially to cater for younger workers who see the office environment as a good place for social interaction, mentoring and training.

In summarising the Eddisons incorporating Barker Storey Matthews’ 2020 market view and in looking ahead to the coming twelve months, Stephen Hawkins, Partner at Eddisons, said, “At this time last year, we said that 2020 would have similar economic and geopolitical forces bearing down as those of 2019.

“We pointed to the steadiness of investment in bricks and mortar in retaining its long term investment appeal – no matter how much of another rollercoaster ride the month to month experience of 2020 was sure to be.

“We stand by both forecasts.

“But 2020 has been one hell of a year and we are still not out of the woods yet – albeit the welcome promise of national vaccine roll-out. But its fulfilment will be critical.

“The commercial property market will, inevitably, have its issues but we are confident that, in overall terms, our region will emerge out of 2021 in pretty good shape.

“There will be casualties but we are probably in one of the best, if not the best, region in which to be located as this unprecedented year turns.”

Find out more 

For any press queries, please contact:
Richard Jones, Eddisons incorporating Barker Storey Matthews, 01733 897722, [email protected].

Town centre retail premises for animal charity

Town centre retail premises for animal charity

The latest retail letting by the Bury St Edmunds office of Eddisons incorporating Barker Storey Matthews sees animal charity Wood Green Animal Shelter in premises in the town centre.

Number 8 Brentgovel Street gives the charity two floors of open plan retail space – totalling 3,505 sq ft (325.7 sq m) – in a corner position and with return frontage, situated on the thoroughfare from Risbygate Street to Buttermarket. Other nearby retail occupiers include Sports Direct, Greggs and Boots Opticians.

Speaking about the new premises, Jake Hornsbury of Wood Green Animal Shelter said, “We are delighted to have secured the shop on Brentgovel Street.

“Wood Green has been looking to open a shop in Bury St Edmunds for a while and this unit presented the perfect opportunity. We look forward to welcoming customers into the refitted shop.”

Simon Burton of Eddisons added, “We are delighted to welcome such a high profile charity as Wood Green to Bury St Edmunds.

“It adds another new occupier to the town in taking up these attractive and substantial retail premises.”

For more information on retail premises to let in Bury St Edmunds, contact Simon Burton at the local office of Eddisons incorporating Barker Storey Matthews tel 01284 702655, [email protected] or see eddisons.com/barker-storey-matthews.

 

Find out more 

For any press queries, please contact:
Richard Jones, Eddisons incorporating Barker Storey Matthews, 01733 897722, [email protected]

Freehold fires gas service company’s interest

Freehold fires gas service company’s interest

An independent gas services firm has purchased the freehold of a business unit at Eagle Business Park, Yaxley in a deal which saw the Peterborough office of  Eddisons incorporating Barker Storey Matthews act as sole agent on behalf of the vendor.

The freehold of 14 Talon Court at the business park sees local firm, Mark Abraham Gas Services Ltd, make the transition from a ‘work from home’ base in Yaxley to its first, formal company premises since being established in 2004.

Unit 14 Talon Court is a 1,479 sq ft (137.4 sq m) terraced unit which was offered for sale or to let by Eddisons incorporating Barker Storey Matthews.

With CCTV, the fenced and gated unit gives the new owner-occupier plenty of space for vehicle parking too.

The new freehold owner-occupier, Mark Abraham, said, “Trading for 16 years and with seven employees, the time had come to invest in stand-alone premises in order for the business.

We wanted a local base from which to serve our existing residential customer base, plus look to future growth.

“With Eagle Business Park on our home doorstep, we knew it was the right time in the company’s lifecycle and the right premises for making a freehold purchase.”

Eddisons partner, Richard Jones added, “Mark Abraham’s company joins a number of local owner-occupiers who have freeholds at Eagle Business Park – at units on the established schemes of the park, such as Talon Court, and also at the development’s new-build courtyard schemes.”

For more information on business premises at Eagle Business Park and in the Peterborough area, contact the local office of Eddisons incorporating Barker Storey Matthews, tel 01733 897722, or through eddisons.com/barker-storey-matthews.

Four in a row for landlord and web design co

Four in a row for landlord and web design company

A Peterborough property agent and its landlord client are marking the fourth successive property letting in a decade to the same city-based web design and marketing company whose property requirements have grown in tandem with the business’s success.

As the agent acting on behalf of the private landlord client, Eddisons incorporating Barker Storey Matthews, whose office is on Thorpe Road, has recently let a 3,740 sq ft unit at Papyrus Road to Geek Designs who will move in to the new premises before the end of the year (2020).

The agent and the same landlord have helped Geek Designs with each of their property moves into larger premises.

The web design company’s commercial premises started with a 350 sq ft shared office in the Peterborough city centre, followed by a move to their own 540 sq ft premises at Tesla Court then expansion into a 1,350 sq ft office at Papyrus Road and now into their new, larger offices on the same development.

Ian Bridgestock, Director and Co-Owner of Geek Designs, commented, “We have seen a steady growth over the past eight years. Not only have we seen this as a business, but also within the city.

“Year on year, we have watched new companies establish themselves in Peterborough, and it is clear to see the city is thriving.

“Consequently, as Geek Designs has grown, it has been a natural progression for us to expand our team and office space.”

According to Julian Welch, who has worked with both landlord and tenant on all four lettings, the property moves of Geek Designs this past decade are typical of many Peterborough businesses whose first move is often from a home-office base.

He commented, “It is always gratifying to chart the business success of any SME (small to medium enterprise) and see this reflected in such companies’ increased property requirements as they grow from strength to strength in the city.

“This is not an uncommon story on Peterborough’s business scene.

“Additionally, what is of note in this instance, is that our client – the landlord – has been a constant feature too in the company’s property moves and growth in meeting their successive requirements for larger premises from his Peterborough property portfolio.

“This latest letting transaction at Papyrus Road is a testament to the benefits of an ongoing three-way working relationship between all parties – landlord, tenant and agent.”

For more information on offices and commercial premises to let in Peterborough, contact Julian Welch at the city office of Eddisons incorporating Barker Storey Matthews, tel 01733 897722, [email protected] or see eddisons.com/barker-storey-matthews.

New business unit developments now completed

New business unit developments now completed

The Huntingdon office of Eddisons incorporating Barker Storey Matthews has confirmed completion of the sale of all the units at Oak Court at The Lakes Business Park in St Ives where its companion development, Chestnut Court, is almost fully occupied with just one unit remaining.

The two schemes total 14 brand new business units and range in size from 1,300 sq ft to 3,400 sq ft. The units have been taken by a mixture of local and regional occupiers as well as some private investors.

The new operators add to the complementary blend of occupiers at The Lakes Business Park. Small and medium businesses there have been attracted by the site’s excellent location, the ‘de-trunked’ former A14 which now operates as the A1307 and provides good access to the surrounding area.

Oak and Chestnut Court follow on from the success of Willow Court within the setting of The Lakes Business Park development which is now fully let.

Eddisons Director, Richard Adam, who handled the sales and the lettings, commented, “Oak Court and Chestnut Court have been shining examples this year in reflecting ongoing activity and sales completions.

“The units have proved popular because they are, relatively, affordable for small companies and can be adapted to suit individual requirements, including extension of office space.

“There is a single plot remaining at The Lakes Business Park site which the owners intend to develop next year (2021).

“We are already in conversation with a number of local companies who are wanting to plan forward for their business growth.

“And while the market is, undoubtedly, going to be a tough one in the coming quarter, we are sensing that 2021 will be brighter for business and, hopefully, lead to continued activity in the industrial unit sector.”

For more information on industrial property availability in the Huntingdon area, contact Richard Adam at the local office of Eddisons incorporating Barker Storey Matthews here eddisons.com/barker-storey-matthews.