M40 GENERATES DEMAND FOR INDUSTRIAL PROPERTY PURCHASES
A severe shortage of smaller industrial buildings along the M40 has resulted in White Commercial receiving substantial interest in 2 small units in Banbury known as Kingfisher House and Thorpe House, both situated just off junction 11 of the London to Birmingham M40 motorway.
Kingfisher House comprised a detached industrial building of
3,220 sq ft with an asking price in the region of £222,000 with
Thorpe House comprising a detached single storey office/industrial
unit totalling 4,337 sq ft. White Commercial advise that they
achieved prices well in excess of the quoting values – a sign that
with the availability of relatively cheap finance and a severe
shortage of supply that there is a healthy appetite from industrial
companies for smaller units.
Harvey White, Commercial Property Negotiator of White
Commercial Surveyors, said “The current economic climate and
lack of new development of smaller units on viability grounds has
resulted in an increase in value of existing smaller industrial units
when these properties come to the market. The substantial
development of the northern part of the London to Birmingham
M40 is also seeing an expansion of many companies’ business and
this latent demand has resulted in a us achieving excellent results
for the previous owners of the buildings but offering expansion
opportunities for the purchasers”.
White Commercial continue to dominate the industrial property
market in their region and have a substantial number of registered
parties looking to purchase and lease industrial and office
accommodation along the northern part of the M40.