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Commercial market overview

18 Feb 21

Over the past year, like all businesses, Fenn Wright have had to adapt as the first lockdown brought about big changes to our daily working lives.  With the vast majority of us leaving our desks behind and working remotely, the process of decamping from our 10 offices went remarkably well.  With investment in technology which allowed for agile working and the addition of Zoom and Teams, we have been able to function effectively throughout the pandemic.  Alistair Mitchell, Partner, provides an update on the commercial property sector in our region.

The warehouse market has certainly been the most robust sector and as we went into the pandemic there was huge demand for storage of PPE equipment.  With the closure of non-essential shops, there was a surge in online shopping and demand for logistics space became insatiable.  At one time we were receiving enquiries literally on a daily basis for warehouse requirements for anything between 10,000 and 200,000 sq ft. and the demand is most definitely still there.  Fulfilling all of these requirements has been impossible – if only there was enough available shed space in the region!

The demise of high street retail is well publicised and dealing with lease negotiations under CVAs has often been a depressing experience.  However, we have seen a number of smaller retail units being taken up by start-up businesses or those seeking to upgrade their premises from home working.

Changes in planning have also assisted and the new Class E use, combining offices, retail, restaurants as well as parts of D1 and D2 uses, has opened the door for some interesting opportunities.  For example, we are dealing with a variety of enquiries for the former Mothercare premises at the Copdock interchange for a number of uses including a regional clinic, out-of-town call centre and various leisure concepts – all of which are now within Class E and therefore permitted without the need for a further planning permission. We are also in the process of letting a 7,000 sq ft office building in Ipswich for conversion to a specialist medical facility without the usual delays and costs associated with obtaining planning.

My colleague, Jeremy Newman, has written about the changes in working practices and how this will impact on the demand and use of offices in the future.  ‘Hub and Spoke’, ‘Hub and Club’ and ‘Telecommuting’ are all new concepts we have got used to over the past year but the extent to which they will impact the office market remains to be seen. You can read the article here.

We will continue to be faced with restrictions and challenges until the pandemic is behind us and how much this will affect working practices in the future and what new markets will emerge remains to be seen.  However, the commercial property market is known for its resilience and adaptability and those that adapt with it will always succeed.

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Branches in: Branches in:
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Woodbridge

Nunn's Mill, Quayside, Woodbridge, IP12 1BN Email: [email protected]

Opening hours

Monday 08:30 - 18:00
Tuesday 08:30 - 18:00
Wednesday 08:30 - 18:00
Thursday 08:30 - 18:00
Friday 08:30 - 17:30
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Woodbridge estate agents 01394 333346
Woodbridge letting agents 01394 382263
Suffolk Farms & Estates specialists 01394 446550
Signature property specialists 01394 330990
Commercial property agents 01473 232701

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01394 333346

Kesgrave

127 Main Road, Kesgrave, IP5 1AB Email: [email protected]

Opening hours

Monday 08:30 - 18:00
Tuesday 08:30 - 18:00
Wednesday 08:30 - 18:00
Thursday 08:30 - 18:00
Friday 08:30 - 17:30
Saturday Closed
Sunday Closed

Our agents

Kesgrave estate agents 01473 358400
Signature property specialists 01473 358400
Suffolk commercial property agents 01473 232701
Kesgrave letting agents 01473 417711

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01473 358400

Felixstowe

120 Hamilton Road, Felixstowe, IP11 7AB Email: [email protected]

Opening hours

Monday 08:30 - 18:00
Tuesday 08:30 - 18:00
Wednesday 08:30 - 18:00
Thursday 08:30 - 18:00
Friday 08:30 - 17:30
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Felixstowe estate agents 01394 548700
Felixstowe letting agents 01394 382263
Commercial property agents 01473 232701
Signature property specialists 01394 548700
Suffolk Farms & Estates specialists 01394 446550

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01394 548700

Ipswich

1 Buttermarket, Ipswich, IP1 1BA Email: [email protected]

Opening hours

Monday 08:30 - 18:00
Tuesday 08:30 - 18:00
Wednesday 08:30 - 18:00
Thursday 08:30 - 18:00
Friday 08:30 - 17:30
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Ipswich estate agents 01473 232700
Signature property specialists 01473 232700
Ipswich letting agents 01473 417711
Commercial property agents 01473 232701
Suffolk Farms & Estates specialists 01394 446550
RICS Surveys 01473 417718

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01473 232700

Manningtree

2 Station Road, Manningtree, CO11 1AA Email: [email protected]

Opening hours

Monday 08:30 - 18:00
Tuesday 08:30 - 18:00
Wednesday 08:30 - 18:00
Thursday 08:30 - 18:00
Friday 08:30 - 17:30
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Manningtree estate agents 01206 397222
Manningtree letting agents 01206 585400
Signature property specialists 01206 397222
Essex commercial property agents 01206 854545

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01206 397222

Sudbury

26 Market Hill, Sudbury, CO10 2EN Email: [email protected]

Opening hours

Monday 08:30 - 18:00
Tuesday 08:30 - 18:00
Wednesday 08:30 - 18:00
Thursday 08:30 - 18:00
Friday 08:30 - 17:30
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Sudbury estate agents 01787 327000
Sudbury letting agents 01787 327010
Commercial property agents 01206 854545
Farms & Estates 01206 216550
Signature property specialists 01787 327000

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01787 327000

Colchester

146 High Street, Colchester, CO1 1PW Email: [email protected]

Opening hours

Monday 08:30 - 18:00
Tuesday 08:30 - 18:00
Wednesday 08:30 - 18:00
Thursday 08:30 - 18:00
Friday 08:30 - 17:30
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Colchester estate agents 01206 763388
Signature property specialists 01206 507607
Colchester letting agents 01206 764499
Essex commercial property agents 01206 854545
Essex new homes agents 01206 763388

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01206 763388

Stanway - Head Office

Head Office, 1 Tollgate East, Stanway, Colchester, CO3 8RQ Email: [email protected]

Opening hours

Monday 08:30 - 18:00
Tuesday 08:30 - 18:00
Wednesday 08:30 - 18:00
Thursday 08:30 - 18:00
Friday 08:30 - 17:30
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Commercial property agents 01206 854545
Stanway estate agents 01206 216543
Stanway letting agents 01206 764499
Lettings maintenance team 01206 245888
Farms & Estates 01206 216550
Water & Leisure 01206 216555
RICS Surveyors 01206 245895
Finance department 01206 245894

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01206 216543

Witham

64 Newland Street, Witham, CM8 1AH Email: [email protected]

Opening hours

Monday 08:30 - 18:00
Tuesday 08:30 - 18:00
Wednesday 08:30 - 18:00
Thursday 08:30 - 18:00
Friday 08:30 - 17:30
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Witham estate agents 01376 516464
Witham letting agents 01245 491111
Commercial property agents 01376 530135
Building Consultancy in Essex 01245 211990

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01376 516464

Chelmsford

20 Duke Street, Chelmsford, CM1 1HL Email: [email protected]

Opening hours

Monday 08:30 - 18:00
Tuesday 08:30 - 18:00
Wednesday 08:30 - 18:00
Thursday 08:30 - 18:00
Friday 08:30 - 17:30
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Chelmsford estate agents 01245 292100
Commercial property experts 01245 261226
Building Surveyors in Essex 01245 211990
Chelmsford letting agents 01245 491111

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01245 292100

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