Brexit effect on the fisheries market
Prior to the vote we, like everyone else, were unsure as to exactly how the wider property and niche leisure and fishery markets would be affect by either result.
Since the 23 June, we have had an increase in viewings of approximately 30% and there appears to be more buyer activity. Three fisheries exchanged and completed simultaneously in the first week after Brexit. It is early days but this sector of the market does not yet appear to be significantly affected by the vote for the UK to leave the EU.
We have visited over 70 fisheries in 2016 and the majority report that business is better than in previous years, even taking into account the distraction of the UEFA Euros 2016 and, at times, far from ideal summer weather.
The number of enquiries from proceedable purchasers has also increased over the last three months so we are now seeking new instructions to meet this demand.
Financing a fishery
Interest rates are at their lowest historic levels and we have carried out a significant number of valuations so far in 2016 for various banks. The majority are for property purchases, but others relate to tax planning and rent reviews. If you are looking for finance to either purchase or develop a fishery please contact us and we can put you in touch with specialist commercial financial advisers.
For a chat about selling your fishery please get in touch with Martin Freeman or Tom Good.