During the second half of 2013 there was a marked increase in enquiries for acquisitions as some banks began to relax funding criteria in relation to property transactions. Equally noticeable was tenants becoming more willing to commit to new leases as confidence in the economy overall improved. These factors led to an uplift in the numbers of both office and industrial transactions being completed across the M27 corridor, particularly towards the end of the year. Independent surveyors, Holloway Iliffe & Mitchell also enjoyed a buoyant 2013 with enquiry levels and transactions being substantially ahead of 2012 even though many deals were below 5,000 sq ft. Its performance was recognised in the in autumn when it was included, for the first time, in the Estates Gazette regional office research league table in fifth position.
The firm completed a number of notable deals during the year including advising Johnston Press on the relocation of The News to 1000 Lakeside and the sale of Compass House in Kingston Road.
Tom Holloway, Agency Director comments: “The increase in transactions, particularly in the last quarter, demonstrated that SME corporates are proactively seeking well priced space where the landlord is prepared to offer flexible terms to secure tenants. Looking ahead we see continuing growth in confidence in the commercial property market.”
For more information contact Tom Holloway on 02392 377800 or via email - tom@hi-m.co.uk.
