Property dealmaker Duncan posts strong year end
Duncan Willey, chartered surveyor with PPH Commercial.
By Scunthorpe Telegraph | Posted: 16 Apr 2019
A RECORD number of industrial property transactions have been recorded by one of the region’s biggest commercial property agents in the opening quarter of 2019 – despite the ongoing Brexit uncertainty.
From January 1 to the end of March, PPH Commercial has helped 600,000 sq ft of existing industrial property to successfully change hands in the Humber region, with the South Bank seeing 248,444 sq ft of industrial premises acquired by new owners. A further 26.3 acres of industrial development land was also snapped up.
It follows a strong 2018 that saw Duncan Willey, divisional director for Scunthorpe and Grimsby, crowned trade publication Estates Gazette’s most active dealmaker for 2018.
He said: “It’s been the end of the financial year and people often invest at this time as part of their overall growth strategy. But the general feeling seems to be that business owners are fed up of hearing about Brexit. They don’t want to miss out on a perfect property so they’re being proactive and that’s a very promising sign for the local economy.
“We’ve been dealing with a real mix of SMEs and major nationals, who are making bold decision and pressing ahead with their plans regardless of the Brexit decision.
“The commercial property market in the area has shown encouraging signs of improvement over the past year, with increased transactional activity recorded throughout all sectors.
“In particular, the industrial sector has performed very strongly and, as a result, occupation levels now exceed 95 per cent. This has put huge pressure on existing stock levels, resulting in prices / rents rising and we are now starting to see speculative development take place, which had previously been very limited over the past decade.
“The region benefits from its accessibility to the Humber Ports of Immingham and Grimsby, which are valuable attributes to employment in the region and the wider area.”