Bruton Knowles Plymouth is dealing with a renewed spate of disposals and acquisitions on behalf of more than a dozen clients.
Mark Slade from the Lockyer Street office said he has a similar number of deals about to go over the line.
He explained: “Leases taken out in 2005 and 2006, when there was more confidence in the economy are now coming up for renewal and businesses are looking very carefully at what they require.
“Tenants are on the move but they are finding quality accommodation hard to come by because of the general undersupply over the last 12 months.
“Units are not staying on the market long and tenants should be realistic on terms. Everybody is interested in newly available stock.”
Mark said people were keeping a close eye on what is coming to market.
“When a unit does come up we are immediately inundated with enquiries. I have a dozen units under offer but these are open market deals rather than distressed sales.
“Given the lack of stock I anticipate that we are going to see rental levels rising over the next 12-14 months.
“There is also significant demand in and around the city for commercial investments but there is a shortage of stock coming to the market. This is proving to be a hurdle in satisfying these enquiries.”
The market requires more investment properties.
Bruton Knowles, however, has acted recently on behalf of the purchaser of Drakes Court, Langage and the firm has confirmed it has been appointed to manage the asset on behalf of the new owners.
Property Management specialist Ian Le Grice said: “As well as being delighted to have been able to act on behalf of our client in securing the acquisition of Drakes Court, we are looking forward to continuing that relationship with the ongoing management of the estate.”
This instruction follows closely on the heels of another management instruction recently awarded.
Bruton Knowles have been appointed on behalf of a local investor to manage a multi-let investment in Torpoint. Ian Le Grice added: “Our client has owned this asset for in excess of 20 years and we are delighted to have been asked to look after his interests going forward.”