Hamilton Office Park sales highlight rising long term value
5th May 2010
Two recent deals at Hamilton Office Park signal a bright start to the year for commercial property investment.
The second of two separate deals at the Park, three miles north of Leicester, has now been completed with Montpelier Group, which has purchased Unit 11, comprising 2,185sq ft. This follows the earlier sale of Unit 29 (2,555sq ft) to a private pension scheme.
The deals highlight an encouraging first quarter 2010 for developer William Davis’ north Leicester office scheme, where only three units now remain: Unit 1 of 3,025 sq ft and Units 3 and 25 of 1,820 sq ft.
The sales were completed by joint agents Andrew and Ashwell and Mather Jamie, who report an improved level of enquiries this year, with anticipation of further imminent sales.
Hamilton Office Park is conveniently located for easy access to the A46, A47 and A6 trunk roads. The self-contained, two storey office buildings sit within an attractive, fenced site, with ample parking and are available on a freehold or leasehold basis.
Malcolm Grayson, Partner of Andrew and Ashwell, said turnaround had been boosted by stabilising property prices and improved business confidence since the New Year.
“New funding is also now filtering through and this has resulted in the first quarter of this year experiencing significantly more transactions complete than we had anticipated. Purchasers have been able to cash in on property values that have significantly reduced from the peak of 2008.
“However, supply is reducing and at the current sale values, developers are unlikely to speculate with new building. Therefore, these last three units at Hamilton Office Park offer tremendous value for long-term property investment.”
Stewart Kellie, Development Surveyor for William Davis added:
"William Davis is delighted with the level of interest that has been maintained during the course of 2010 in the remaining offices at Hamilton Office Park. Two sales have been concluded recently and given the general lack of high quality, self-contained offices in Leicester at present, we are confident that the last remaining offices at Hamilton Office Park will be sought after.”
