Land and buildings off Wills Road, within Totnes Industrial Estate has been sold off an asking price of £495,000 by commercial property specialists Charles Darrow.
A great deal of interest was received following the launch of the large commercial site at the tail end of 2018. The site received multiple bids in excess of the asking price before terms were agreed to a local commercial investor.
The versatile freehold commercial site of around 0.6 areas comprises of 6,000 sq ft warehouse, 1,200 sq ft office accommodation and a large car park, was formally used by Kingfisher Print and the purchaser, Mr Dean, already has a tenant lined up for the industrial space.
Associate director, James Sanders commented: “Following instructions to market the site, we were inundated with interest which resulted in a best and final bids process, eventually seeing the site sell for a figure in excess of the asking price”.
“The competitive bidding process was a good reminder that light industrial and commercial premises remain a desirable investment asset for investors and occupiers alike”
“With increasing requirements for industrial space in the South-West, coupled with high occupancy rates, demand is outstripping supply for good quality freehold industrial units”
“The competitive nature of purchasers is leaving our clients with multiple options, and very robust premiums are being achieved”.
Should you be considering the sale of your commercial asset in 2019, Charles Darrow would be delighted to introduce a database of active buyers to your site.
