the south west |
KURT WYMAN REPORTS C
ommercial property specialists Kurt Wyman Surveyors are looking forward
to an exciting and busy 2018 after a record year in 2017. The agency side of the business has performed particularly well with highspots, including the sale of a 6.5 Acre site and buildings in The Forest of Dean, the sale of a 3 Acre Development Site on Spinnaker Park in Gloucester and the acquisition of a substantial haulage depot, warehouse and offices in Cheltenham on behalf of clients. The firm have also seen an increase in levels of investment sales and acquisitions. Company Director Kurt Wyman noted, ‘We acted on behalf of a local business in the sale and lease back of a 9,600 sq.ft industrial unit in Gloucester which was sold to a local investor. We also assisted in the acquisition of ‘The Opus’, a modern multi let office building on Waterwells Business Park in Gloucester’.
Kurt Wyman
Kurt added , ‘In the summer, we were pleased to be
instructed by Space Business Centres to market their schemes in Gloucester and Cheltenham. The sites comprise modern ‘start up’ units from 255 sq.ft and units are available on a freehold and leasehold basis. The schemes are also attracting interest from investors looking for an affordable entry into commercial property as well as more seasoned investors.’ The firm has taken on experienced
surveyor Sean Williams to lead its property management and professional team. Kurt commented, ‘It is great to have Sean as part of the team. We have a number of high profile management instructions and this is an area of the business that has grown over recent years’. The firm provides a proactive and hands on approach to management and acknowledge that each site brings its own challenges. Looking forward to 2018 Kurt added, ‘It is interesting times; we are already noticing an upsurge in demand within the Forest of Dean which can perhaps be attributed to numerous factors including planned dropping of toll charges on the Severn Bridge and also commencement of the long awaited Northern Quarter Scheme in Cinderford. In Gloucester, the Quays continue to perform well and the current redevelopment
of Bakers Quay will help to retain critical mass in this area. The pedestrianisation and landscaping of the former Cathedral Car Park, Project Pilgrim, is nearing completion. The Cathedral has always been the City’s ‘Jewel in the crown’ and it is hoped this along with the redevelopment of the Bus Station will start to attract more investment into the city centre’.
The retail and office market continue to perform well in Cheltenham. There is a severe shortage of good quality office accommodation within the town which has caused rentals to strengthen with record levels now being achieved. The firm recently brought a modern 3 storey office building to the market in the town and received an offer at the full asking price within a week of marketing commencing! There also continues to be strong demand with limited supply for industrial stock. This again has caused rental levels to increase, particularly for the smaller industrial units. All in all it has been a busy year in Gloucestershire, with agents reporting positive activity across all sectors. A shortage of stock has however hampered the market and this is certainly having a negative impact on firms seeking to expand and take on new business premises.
For local market knowledge and a fresh approach to commercial property matters
Rent review & lease renewal Development
01452 380 064
www.kurtwymansurveyors.co.uk COMMERCIAL PROPERTY MONTHLY 2017 71
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