It seems some years now that one could put a commercial property on the market and it would be let or sold within months.
In recent years it has not been uncommon for a property to remain on the market for well over a year, sometimes two, with the owner having to pay a heavy sum in business rates on empty property.
But, according to Ian Archer, director of commercial property agents, Aitchison Raffety there is now real evidence of properties moving faster.
He said: “In the depths of the recession, in 2008-2010, the supply of premises far exceeded the demand from local and regional basis but the supply and demand level is now evening out, resulting in properties being sold or let more quickly. Some premises have even been let/sold after a marketing period of only three months”
Mr Archer gives some examples, including the sale of a two-storey 2,000 sq-ft workshop and office in Hemel Hempstead for £200,000 after just three months on the market and a 12,000 sq-ft warehouse in Chesham after just two months.
Freehold properties are still more popular than rental units, especially industrial units. Aitchison Raffety are even in discussion with a purchaser on a pre-sale basis for a 5,000 sq-ft warehouse in Hemel, which is unheard of, but is a sign of the fact that there are no units available in the town for sale.
l Contact Aitchison Raffety on 01442 220800, or email: firstname.lastname@example.org or visit www.argroup.co.uk