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Simon Patrick, Partner and Head of Commercial Property at Robinson and Hall comments on the Bedford market

wantspacegotspace.co.uk - Simon Patrick, Partner and Head of Commercial Property at Robinson and Hall comments on the Bedford market“The commercial property market in Bedford is steady! We are seeing a high level of enquiries and many deals being agreed, in particular on industrial units and prime and secondary retail. The market for offices, however, is very quiet due to the over supply of second hand lower quality offices in the town.

New commercial developments are also very hard to find as developers are struggling to obtain funding at sensible levels, coupled with not wishing to start works until a tenant or purchaser is secured at levels that do not compromise their profit margins.

On the flip side though, there are many attractive investments to purchase in the area for investors with access to funds, although at slightly higher yields of 8% to 10%. We are seeing lots of interest from investors for multiple retail and industrial units. There are also attractive properties to purchase for owner occupiers with access to funds, from landlords who may be struggling to secure suitable tenants. In fact, we have recently purchased an office for an owner occupier client from a landlord that has been trying to let the property for the past year!

Within the range of departments at Robinson and Hall when leases come to an end our dilapidations team are on hand straight away to ensure the properties are returned to the landlord in accordance with the lease terms and we can start marketing the properties again to limit void periods.

Posted by The Editor (wantspacegotspace) on 30th October 2012

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