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Record year for our Commercial team!

Record year for our Commercial team!

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Fenn Wright’s Commercial Agency team have reported record results for 2017.

Over the 12 months to December 2017 a total of 270 offices, industrial/warehouse units, shops and development sites were either sold, let or acquired, equating to an increase of 40% on the previous year’s total of 192. 

The combined sales value of all properties sold was £40,225,597, an increase of 8.7%,  whereas open market lettings generated a combined rental income up by a staggering 143% to £7,213,435 from the previous year’s total of £2,977,505 per annum.   Total floor space was also up by 12% to 1,030,079 sq ft.
Lewis Chambers, Head of the Commercial Division commented that the superb results were due to a combination of a general improvement in the quality of instructions,  bolstered by Newman Commercial and Taylor & Co joining the Fenn Wright Group in the summer and a great deal of hard work by all the team. 
Alistair Mitchell of the Ipswich office explained that going into 2018/19 there is strong demand for freehold commercial property from investors, owner/occupiers and developers. "We continue to generate good levels of competition for nearly every property offered for sale, which in turn produces excellent results for clients, achieving high sales prices with the minimum of delay".

There is also a good level of tenant demand in the warehouse/industrial and prime office sectors with competing interest for the best space.  Some sectors, specifically high street retail and the secondary office market, are tending to be more challenging although innovative and flexible approaches are proving to be successful. 
Fenn Wright offer a full range of commercial property agency and professional services and please get in touch with any of the team for further advice.

Contact our Commercial team

Available commercial property in Essex & Suffolk

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