The year has started off full steam ahead with both lease and sales enquiries coming in strong for the NAI Harcourts Aspley business. Phil Grant, Director of Sales and Leasing says “We are seeing enquiries converting to commitment which is fantastic as most of last year people were indecisive and unwilling to commit in a short period of time. We have a number of great sites that will be hitting the market very shortly from ex church sites, to service station sites to large residential development sites”.
Grant believes now is the optimum time to sell properties with business confidence seeing an uplift since the start of the year. “We are seeing large enquiries across the board for all types of commercial property. My advice to buyers would be make sure you do your research and speak to an experienced agent in the area you are looking. With differences in online and physical availability being at the highest it has ever been, it is vital to get the right advice early in the buying process.”
The current leasing market Grant believes is a tenant’s market. “We are seeing a shortage of new premium stock available with secondary stock being leased albeit at slightly lower rates with incentives on offer for most lengthy tenures”.
The investment market is going strong with large levels of enquiry for good quality investment property. Most investments with four years or longer remaining on the lease are in high demand.
“Main road properties for owner occupiers are always in high demand,” says Grant. “Investment stock with national tenants are in high demand with most investors lining up for them. Through proactive canvassing we are continuing to generate new listings and have a large number of listings for both sale and to lease”.
“New development has been fundamental in driving continued interest in our markets. We have seen a lot of secondary stock purchased or leased due to value seen between the prime and secondary properties. There has been a strong drive from developers to build spec buildings given the shortage of good quality well positioned properties - and the demand keeps continuing,” says Grant.