Commercial Property - Investment Market
March 19, 2015
WIW members were recently given a brief update on the commercial property investment market and its resulting effect on the local market, our speaker was Paul Bird of Joscelyne Chase.
Paul explained that the London investment market had overheated with strong demands in 2014 and as institutional demand had pushed down yields on industrial property in London investors have been considering opportunities outside London, particularly in Essex. While large lots such as head offices, and massive warehousing attracted major institutions, property companies and high net worth individuals the demand for modest properties for smaller investors has returned. Paul confirmed that there is now a market for good quality investment property with financially sound tenants, long leases and well maintained properties in Essex.
Witham industrial estates encompass a wide range of large, medium and moderate size premises, some modern and some that could be improved with a modest investment. While the estates have many thriving businesses there are still opportunities for investment for expanding businesses to move to Witham and for existing businesses to develop close to their current source of employment.