Freehold industrial properties in Worcestershire are on the market for less than three months before they are sold and the pandemic has had no impact on sales values according to one of the county’s leading commercial property agents.
A year-on-year comparison of GJS Dillon’s data from August 1 to October 31 this year and last year reveals that the number of transactions in the industrial market has remained consistent. Despite Covid restrictions, enquiry levels remain the highest they’ve ever been and the agency’s website has seen a surge in traffic indicating that interest in industrial property remains high.
‘There is no impact on sales values either’ says Andrew Lewis, Associate Director at GJS Dillon ‘At Saxon Business Park, which is one of Bromsgrove’s prime out of town business parks, values close to £130 per sq ft are still being achieved.’
‘There are a number of reasons why demand for industrial property remains strong across the county’ continues Andrew ‘E-commerce businesses are springing up across the UK and these entrepreneurs need storage for their stock. Developments such as Sapphire Court in Bromsgrove and the Enterprise Centres at Blackpole, Worcester and Pershore provide some of the newest units, hence their popularity. These provide good justification for more commercial space to be built’