AS we approach the half way point of 2017, we reflect on the commercial property market for the half year. Without doubt the market has been buoyant, although we have experienced a decrease in occupational enquiries, the trend for income producing investments continues.
Evidently, all markets depend on the business confidence of occupiers and we would expect that once the UK has understood the impact of Brexit, this confidence will return.
Base rates remain relatively low and the cost of commercial lending attractive against possible commercial returns from non-prime investments. We continue to experience a range of retail and commercial investments being offered to the market, with still a significant shortage of industrial stock, retaining high prices for secondary industrial stock.
Recently, we have introduced to the market two new investments in the Kettering area. Firstly, 3 Cherry Hall Road on North Kettering Business Park and secondly, Nene House on Pytchley Lodge Road.
3 Cherry Hall Road is a modern office unit comprising approximately 2,196 square feet (204 square metres) arranged over ground and first floors. The property is producing an income of £30,000 per annum exclusive and is being offered at a price of £399,000 exclusive.
Nene House is mixture of offices and a workshop unit with a large secure yard at the rear of the offices. The property is multi-let to two tenants on three commercial leases and is producing an income of £111,300 per annum exclusive. The freehold investment is being offered to the market at a price of £1,250,000 exclusive.
Berrys Commercial Agency team are looking for more commercial or mixed use investment properties as we continue to see investors seeking a variety of opportunities. If you have commercial investments or vacant property where we can assist you to let, please do contact us.
Further information on the properties identified within this editorial contact Simon Parsons, MRICS from the sole agent, Berrys, on 01536 213169.
