The West Country
Investment Demand In Southwest Property Remains Strong Reports Nick Wheeldon Waycotts Torquay
Despite the unprecedented market conditions brought on by Covid and the recent adjustment brought about by interest hikes there is still a large appetite by investors to buy investments throughout the Southwest says Nick Wheeldon MRICS Director Waycotts Chartered Surveyors
As with all market readjustments it is always a question of finding the appropriate yield that matches not the covenant strength but also the location and longevity or ease of reletting.
So, would we say that in economic terms is investment property an elastic or inelastic commodity?
As with such an inexact science given that the answer only reflects the criteria considered we suggest that although in certain circumstances it may prove to be inelastic, in general terms Investment property is an elastic good as it can see significant shifts in demand when economic factors change.
This is best demonstrated by the effects of recent interest changes on the buy to let market.
The closure of the reverse yield gap bubble has seen many investors being caught out and exiting the market probably never to return.
As an investment the only action available was to either increase the rental to a level to restore the reverse yield gap or sell. Most probably in most circumstances this higher rental was just simply unaffordable with little or no help available.
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If the investment were sold with the passing rent, the revised yield required by newcomers to the buy to let market would have seen a sizable chunk of the open market value with vacant possession being written of so many tenants have now had to move out following the Bank of England’s policy.
Investment management is the term for professional asset management used by many to describe their operation whether it be managing, buying or selling for example securities, shareholdings, or bonds as well of course property.
We manage a very varied portfolio of property related interests on behalf of both private and cooperate clients including the The Cary Estate’s Torre Abbey Estate which were mainly developed from 1850 onwards when Torquay’s popularity was growing, and which includes extensive rent charge collection and restrictive covenant management as well as a mixed portfolio of retail office industrial and residential properties.
As Property investment managers we need to understand and provide strategy to meet specified investment goals tailored to meet the needs of each investor client.
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The goal of asset management is to maximize the value of an individual investment or portfolio over time while maintaining an acceptable level of risk.
Asset managers have a fiduciary responsibility to their clients to act in their best interests and to quantify and agree that risk.
They are there to advise and or make decisions on behalf of their clients as agreed within negotiated and documented terms of business.
We are always pleased to talk to new clients about our property management and investment services including sales and acquisition which are all regulated by the RICS
Clare Powlesland BA (Hons) Senior Negotiator
Email:
property@waycotts.co.uk Tel: 01803 403060
Teignmouth
G/F Retail let to Ladbrokes + local trader 12 Self-contained apartments over
Newton Abbot
Large retail unit let to Specsavers 2 S/C residential long leases above
Newton Abbot
Retail Unit 103.55m² let to Consol Tanning Southwest Ltd 4 S/C residential long leasehold flats above
Gross rental £97,100 Guide Price £1.25m
70
Gross rental £32,350 Guide Price £375,000
Gross rental £20,400 Guide Price £240,000
COMMERCIAL PROPERTY MONTHLY 2024
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