The completion of an office sale in Plymouth underlines increased investment interest across the city says Glenn Kelly of Bruton Knowles.
The freehold sale saw a private investor snap up 210 Exeter Street (pictured) in a deal worth £415,000. The two storey property offers 3,818 sq ft of modern office accommodation along with seven external parking spaces, and is currently occupied by GP Strategies Training.
Mr Kelly, who earlier in the year brokered the sale of a number of industrial units and the Brownston Gallery, believes the increase in activity – which has also been reported by other agents in the South West – demonstrates growing investor confidence.
He says; “We have seen a number of headline deals going through in the past few months and the market is keen to acquire investments that can offer asset management opportunities which add value to an investor’s portfolio.
“210 Exeter Street is a great buy and has a number of angles which I am sure will be explored by the new purchaser.
“Enquiry levels remain strong particularly within this sub-5,000 sq ft category – this, combined with a chronic shortage of stock, is good news for the vendor.
“For the buyer, it’s a much different story; these days they have to keep their ear much closer to the ground if they are to have any chance of success.”
Story: Kirsten Kennedy
Photo: Bruton Knowles