Another Year of Commercial Success
May 2025
Last year our firm’s commercial department had another record year, with transactions completed throughout Somerset, Devon and Dorset, despite enthusiasm from investors and the property market tending to follow the health of the economy. This shows that our expertise across the West Country continues to attract demand from investors and occupiers, regardless of the market conditions.
In total around 187 lettings and sales transactions were completed in 2024 across a wide range of different commercial properties. These included investments, shops, offices, industrial premises, HMOs, storage yards, development land and many others. Additionally, our valuation, landlord and tenant departments have been particularly busy providing advice to clients as they plan for the future and negotiate new leases.
It is unfortunate that the office market in the South West has not seen significant rental growth for a number of years and prime retail has struggled for a number of reasons. Values within the industrial sector appear to have levelled off following strong growth over a number of years and it seems that the challenging market conditions are likely to continue during the course of this year. However, as last year has already shown we are still attracting buyers and tenants alike. This shows that no matter the market conditions businesses are continuing to look towards the future, whether this is for short or long term expansion or consolidation.
Among some of our successful agreements secured in 2024 was the letting of a number of buildings to a range of occupiers at Wellington Business Park adjacent to Junction 26 of the M5 motorway, totalling 90,000 sq ft, achieving as much as £9.50 per square foot.
We also sold two large industrial investments at Cheddar Business Park totalling 20,000 sq ft for £1,665,000, let units at Crown Industrial Estate in Taunton, sold buildings in Minehead and completed sizeable landlord and tenant instructions in Yeovil.
Duncan Brown, Partner in charge of the Commercial department, said, “With 2023 having been a record year for transaction numbers, we are delighted to have significantly improved upon this in 2024 and look forward to a similarly busy 2025. Winning EGI’s Most Active Agent Award for 14 years in a row, based upon the number of completed transactions, stands us in good stead and we can continue to look after the interests of our clients going forward.”
Our long-established, successful commercial property department and our experienced teams of qualified commercial surveyors operate from hubs in Taunton, Yeovil and Dorchester, supported by a number of property valuers and property managers across the firm.
If you are thinking of renting your commercial premises, or you are looking for an agent to take over the management of your property or property portfolio, find out more about our commercial services or contact your local GTH office.
In total around 187 lettings and sales transactions were completed in 2024 across a wide range of different commercial properties. These included investments, shops, offices, industrial premises, HMOs, storage yards, development land and many others. Additionally, our valuation, landlord and tenant departments have been particularly busy providing advice to clients as they plan for the future and negotiate new leases.
It is unfortunate that the office market in the South West has not seen significant rental growth for a number of years and prime retail has struggled for a number of reasons. Values within the industrial sector appear to have levelled off following strong growth over a number of years and it seems that the challenging market conditions are likely to continue during the course of this year. However, as last year has already shown we are still attracting buyers and tenants alike. This shows that no matter the market conditions businesses are continuing to look towards the future, whether this is for short or long term expansion or consolidation.
Among some of our successful agreements secured in 2024 was the letting of a number of buildings to a range of occupiers at Wellington Business Park adjacent to Junction 26 of the M5 motorway, totalling 90,000 sq ft, achieving as much as £9.50 per square foot.
We also sold two large industrial investments at Cheddar Business Park totalling 20,000 sq ft for £1,665,000, let units at Crown Industrial Estate in Taunton, sold buildings in Minehead and completed sizeable landlord and tenant instructions in Yeovil.
Duncan Brown, Partner in charge of the Commercial department, said, “With 2023 having been a record year for transaction numbers, we are delighted to have significantly improved upon this in 2024 and look forward to a similarly busy 2025. Winning EGI’s Most Active Agent Award for 14 years in a row, based upon the number of completed transactions, stands us in good stead and we can continue to look after the interests of our clients going forward.”
Our long-established, successful commercial property department and our experienced teams of qualified commercial surveyors operate from hubs in Taunton, Yeovil and Dorchester, supported by a number of property valuers and property managers across the firm.
If you are thinking of renting your commercial premises, or you are looking for an agent to take over the management of your property or property portfolio, find out more about our commercial services or contact your local GTH office.