Pandemic has had no impact on property sales values in Worcestershire

Published by

Nicky Godding

Freehold industrial properties in Worcestershire are on the market for less than three months before they are sold and the pandemic has had no impact on sales values according to one of the county’s leading commercial property agents.

A year-on-year comparison of GJS Dillon’s data from August 1 to October 31 this year and last year reveals that the number of transactions in the industrial market has remained consistent. Despite Covid restrictions, enquiry levels remain the highest they’ve ever been and the agency’s website has seen a surge in traffic indicating that interest in industrial property remains high.

Andrew Lewis, Associate Director at GJS Dillon, said: "There is no impact on sales values either. At Saxon Business Park, which is one of Bromsgrove’s prime out of town business parks, values close to £130 per sq ft are still being achieved."

"There are a number of reasons why demand for industrial property remains strong across the county," Andrew added. "E-commerce businesses are springing up across the UK and these entrepreneurs need storage for their stock. Developments such as Sapphire Court in Bromsgrove and the Enterprise Centres at Blackpole, Worcester and Pershore provide some of the newest units, hence their popularity. These provide good justification for more commercial space to be built."

Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe. After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts. She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.