Humberts Commercial have seen an increase in demand for commercial investments within 2019 which is not being slowed down by the current uncertainty of Brexit.
There is excess demand for investments at this time in the market and many local and regional investors are looking to take advice to make sure that they make the right investment and do not regret their purchase. The changes in taxation for residential investments is pushing people into the commercial market and many purchasers are looking to buy an investment within their pension funds.
Recently Humberts have sold two investments in the local property market including a Lloyds Bank investment in Shepton Mallet which had a guide price of £240,000 with a passing rent of £20,000 equating to a yield of 8.3%.
Currently they have Unit 14 Millwey Rise under offer above its current guide price of £115,000 which has a rent of £8,000 per annum showing the demand for investments at this time in the market. They have seen in the last 2/3 weeks gazumping happening which is due to the lack of supply of good quality commercial properties on the market.
Humberts are currently marketing an investment in Minehead on The Avenue which has a current passing rent of £64,200 and is available at a guide price of £750,000 equating to a yield of 8.56%.
Stephen Richards, Head of Commercial at Humberts comments “Over my 20 year period in the property market I have never known such a demand for commercial investments and have a ready database of purchasers looking for suitable commercial properties in all sectors of the commercial property market including retail, offices and industrial.”
