Despite reports that commercial property investment in the UK fell last year, Midlands property consultants D&P Holt are predicting a more profitable year for the commercial property market in 2013, identifying the recent bounceback in the manufacturing sector as key for growth.
“Demand for commercial property in the manufacturing, automotive and supply chain markets definitely improved throughout 2012 and it is within growing industries like these that the market will continue to grow throughout 2013. By supporting the needs of potential tenants and re-modelling property where necessary, the commercial property market has real potential for growth throughout 2013,” said David Holt, Director, D&P Holt.
D&P Holt experienced great success in 2012 in both industrial and office property. Two major industrial deals achieved towards the end of the year include a five-year lease of Vanguard House on Coventry Business Park, to automotive composite manufacturers MultiMatic who were able to take occupation of the well specified 53,579 sq. ft. Industrial building within seven weeks of agreeing terms with the Landlord.
In Dolomite Avenue, D&P Holt introduced the Sprint Point Building to global hygiene manufacturers Abena UK; a six-year-old building, with 10 metre eaves height and comprising 10% office space. This 48,700 sq. Ft. building was singled out by the company as an ideal location for expansion after viewing properties in Leicester and Birmingham.
Success was also achieved leasing office space including 28,050 sq. ft. to Impello PLC taking a sublease from telent who D&P Holt had previously let the refurbished grade-A 85,000 sq ft office property in Warwick to. D&P Holt additionally acquired the 15,000 sq ft office building ‘2020’ in Meridan on behalf of British Show Jumping and also agreed a deal with Study Inns for 100,000 sq. ft. of office space in Corporation Street Coventry which will be converted into student accommodation.
The surge in demand for commercial property experienced by D&P Holt highlights that Coventry and the Midlands remain attractive areas for relocation and expansion.
“We definitely saw an improvement in the commercial property market during the latter end of 2012 in both industrial and office space and expect this to continue throughout 2013. What we have found is that modern facilities, when made available on the right terms for businesses, will always attract interest and achieve sales or lettings as required and we are not expecting this to change,” said David Holt, Director, D&P Holt.