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A dirth of new business space development leaves occupiers frustrated

A dirth of new business space development leaves occupiers frustrated

Continuing improvements in economic conditions have resulted in a steady stream of enquiries from industrial/warehouse occupiers in the Salisbury and Shaftesbury areas reports Rob Horton in the Commercial Agency Department.  And with interest rates at an all time low it is hardly surprising that many of these enquiries are from owner occupiers.

The last new scheme of any size to come out of the ground in the Salisbury area was Glenmore Business Park which is situated off Telford Road on the Churchfields Industrial Estate and while some of the units have been offered for re-sale since, the numbers have been insufficient to meet the current level of demand.  Furthermore, many come back to the market in a very bespoke form, perhaps with a high office content which for many occupiers will be surplus to requirements.  

This lack of supply is, of course, having an upwards pressure on prices as there are often several purchasers chasing an individual property.  However, given the lack of potential development sites in the locality and with long lead-in times for new schemes, the situation is unlikely to change in the foreseeable future.  For any advice on your commercial property contact Rob Horton on 01722 330333.

 
Rob Horton
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Rob Horton

Associate

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