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Industrial Deals
Down but not out
delivered a candid summary of the
commercial property market, he said: "While Exeter
Conditions in the commercial property
we expect downward pricing adjustments to
market remain challenging, according to
An industrial/warehouse unit in the Marsh
continue in the near term, we anticipate this
a mid-year review provided by CB Richard
Barton area of Exeter has recently been
will trigger greater investor demand.
Ellis.
let by Stratton Creber Commercial.
Debt finance will remain tight but there
The forecasts were unveiled at a seminar
Unit 7, Budlake Units, Budlake Road,
will be improved scope for equity-based
in the first week of July, in Bristol that provided
Marsh Barton (pictured below)
investors.
the local business community with detailed
comprises 2,121sq ft of industrial/
We expect overall performance to be
insights into current market conditions plus
warehouse space. The Budlake Units
dependent on rental growth which, in the
forecasts on likely outcomes.
development comprises two terraces of
regional markets, is likely to remain steady.
Attended by senior representatives from
units built in the late 1980s.
It is our view that by the end of next year,
the property sector, including representatives
The property has been let off an
we should see the beginnings of a recovery
from local authorities and regeneration
initial rent of £12,750 pa, for a term of
and the market will resume positive returns."
agencies, plus bankers, solicitors,
five years on a fri lease to Silverdell (UK)
accountants, investors and developers, the
Ltd.
seminar was led by Dr Peter Damesick, head
of UK Research at CBRE.
Missing out on online sales
Andrew Sayner, head of investment south A recent survey into online marketing
west, spoke about Bristol's office market shows that many property and
while James Broome, who heads up the construction companies could be
residential team, spoke about the challenges missing out on sales by not maximising
facing the residential market. their websites or online marketing
According to the firm, the biggest problem campaigns.
facing the sector has been the limited The survey, commissioned by Crafted
availability of bank funding – a direct result of Media, a full service creative and marketing
the credit crunch. This funding is also costing agency, reveals that the vast majority of
more and is only obtainable on tighter terms. those surveyed (89%) believe online
As a result, investors, particularly those marketing to be either very or quite important
in the retail sector, are pulling back, prices – more than traditional print or advertising.
are being adjusted and property values are
Swansea
Despite this, however, almost two thirds
falling, although according to the firm's latest (60%) of companies said they spend less
Cooke & Arkwright and Lambert Smith
figures, the rate of decline is easing. than 25% of their overall marketing budget
Hampton have let unit 41, Cwmdu
The good news, according to their online marketing techniques.
Industrial Estate in Swansea to
Monthly Index, is that while capital growth is The survey also shows that whilst most
Amalgamated Construction Ltd.
declining, rental growth across all sectors is people (84%) think their website is an
The 7,874 sq ft unit was let on a fri
holding its own, albeit at a slacker rate. effective marketing tool, only around half
lease to 2016 for £25,590 pa. The
In the office sector, it believes the regional (55%) said they monitor traffic to their
landlord is IOG Properties.
markets are likely to be less volatile than website and only 42% optimise their
London and the regional rental market should websites using Search Engine Optimisation
Swindon
remain quite steady. In the medium term, it is (SEO) techniques.
predicted that regional rental values will
Whitmarsh Lockhart, acting on behalf of
A mere 8% said they implement Pay
increase by 2-3%. Bristol's headline rent
Interserve plc have announced that they
Per Click (PPC) advertising campaigns,
currently stands at £27.50 psf. with a third (32%) doing neither – meaning
have sublet Unit 8, River Ray Industrial
The firm says that prospects for the retail
Estate, Barnfield Road, Swindon to PT
they could be missing out on website sales
sector are mixed. While retail sales growth is
Profiles Ltd for a three-year sublease
and/or enquiry opportunities.
predicted to slow, it expects main shopping Brad Warwick, co-founder and business
agreement at a quoting rent of
locations to hold their own with retailers keen
£13,700 pa.
development director at Crafted Media, says
to be in these key locations. The pressure
Unit 8 comprises a mid-terraced clear
that online marketing doesn't need to be
will be on the weaker players. expensive to generate targeted enquiries
span portal frame property with large
The view of the investment market is that
vehicle access door. The unit extends to
and sales.
although this sector will continue to be
approx 2,487 sq ft.
"In the current economic climate, where
affected by the credit crunch, there is still every marketing penny needs to be spent
selective demand from a diverse range of wisely, many companies underestimate the
Exeter
sources, primarily equity rich foreign power of an effective website or online
Stratton Creber Commercial were
investors. marketing campaign.
instructed by AM Micro to assign the
These potential investors are looking for But you don't have to spend a lot of
lease of Unit 3 Manaton Court in Exeter.
good deals but are being hampered by a money to generate online sales and
The unit has been let to the Schools
current shortage of motivated sellers. enquiries. We have helped a number of
Health Education Unit who have taken
However, the firm's view is that by the end of property and construction clients increase
an assignment of the current lease
2009, investment yields across the retail, their online sales and/or enquiries, with
expiring 31 March 2009 at a passing
office and industrial sectors will firm up and minimal online marketing spend."
rent of £13,500 pax.
the market will improve as a result. Brad believes that the key to online
The firm's view of the housing market is marketing success is to first make your
one of concern by the downturn in the number website as accessible and easy to use as
Bridgend
of mortgage approvals. possible, and them implement and monitor Units 2320 and 2330 Central Park
It believes that to make the residential targeted SEO techniques. Industrial Estate, Bridgend have been
sector of interest to investors, considerations Online marketing can be perceived as a sold freehold by Cooke & Arkwright and
should be given to new initiatives such as a dark art but understanding your customers' Alder King on behalf of Robert Hitchins
new planning classification for build to let requirements and directing both them and Ltd, to Ebtek for £440,025. The units
properties available on a 10 year tenancy. search engines to the most relevant content comprise 6,587 sq ft.
In conclusion, Dr Peter Damesick of your website produces results."
4 Property News August 2008
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