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The changing face of business property, according to Wiggins Lockett

wantspacegotspace.co.uk - The changing face of business property, according to Wiggins LockettAnthony Wiggins, Partner at Wiggins & Lockett, Commercial Chartered Surveyors in Staffordshire and Shropshire reports a commercial property market resembling a roller coaster ride.   

Anthony Wiggins, Partner at the firm who have just entered their sixth year of trading said,

“The enquiries for property rise and fall in more and more dramatic fashion every month.  From a period where enquiries seem to be impossible to create, we have had periods of intense interest making our general marketing programmes more and more difficult to judge.  We spend a great deal of time ensuring that our client’s properties are found by anyone looking using any media.

Boards on property remain massively important but we have also embraced social media and enquiries from this increase weekly.”

Availability of business property in Telford and Shropshire as a whole has had to improve as tenant demands for “plug in and play” space has naturally increased and we can highlight several examples where refurbishments have led to lettings and sales of property that has stagnated in poor condition.  It doesn’t always mean that a higher price is achieved but the fact is that a satisfactory sale has occurred where others fail.  We have been careful to ensure our advice has kept pace within an ever changing market.  

Estates where units have remained vacant for some time are now starting to see movement.  Hortonwood 32 remains fully let with tenants re-gearing rents and signing longer leases in return.  We have just let two units at Hortonpark, Hortonwood, Telford after a longer period of inactivity showing demand for higher bay units of this nature returning.

The small office market also remains buoyant but we’ve had to be tenacious and persistent in chasing enquiries down and the choice being offered is wider than ever.  Rental levels here have dropped but again it is the quality and flexibility of space that is winning occupiers.  We have completed more lettings on office this year than ever before.

Posted by The Editor (wantspacegotspace) on 6th April 2013 (updated 09/04/2013)

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