Our end of year Commercial round-up

12th December 2018

As 2018 comes to an end, we are pleased to report another busy year for our commercial team. In what has been an ever-changing time for the property market, we have adapted to the changing conditions caused by political uncertainty. Here we look back on the highs from the last 12 months and share our predictions for the coming year.

Our top deals done

30 Chapel Road, Worthing
Sale price: £775,000 
A former Maplin retail store totalling 8,000 sq ft over 3 floors was sold freehold to a private group of companies. The property was  bought as a long-term investment and will likely be operated under a national brand name.

 

Downsview, Littlehampton Road, Ferring
Sale price: £715,000
This 0.5 acre site situated on the A259 road opposite Asda Superstore was sold as a result of an extensive marketing campaign. The site has been acquired by local company A&A Travel who had been looking for a suitable site to relocate to for a number of years. 

 

Former Downview Pub, Station Parade, Worthing
Sale price: £1,150,000
The former pub with planning consent to convert to residential use was sold to Worthing Borough Council for their own housing needs. Located opposite West Worthing train station, the building generated significant offers and by demonstrating that they could proceed in a swift timescale, the Council successfully secured the property.

 

The Causeway, Worthing
Let agreed: £11.25 per sq ft
The new, state-of-the-art medical centre provides a much-needed resource for the community. We were a
ppointed to act as the landlord's agent working alongside NHS England, Worthing Borough Council, Strand Medical and a local MP to negotiate lease terms.

 

Growing our team

In the summer we welcomed Commercial Negotiators Harry Wilson and Chelsea Adams to the business. Both have experience in property and bring with them local knowledge and fresh ideas to further benefit our clients. We are excited to announce that earlier this month, Jon Justice, who has been with the company for 10 years, has been promoted to Associate Director of Land and Commercial. This new role means that Jon will continue to work closely with his clients in commercial transactions, while focussing on land and development. With sound knowledge of the local market and a wealth of experience in resolving complex transactions, Jon will provide advice and guidance to landowners and purchasers. 

 

Looking ahead to 2019

Next year is set to be a significant year for the local property market. The south coast will benefit from further ongoing regeneration with construction sites now fully underway on a number of key commercial and residential sites across the area.

The Montague Quarter in the heart of Worthing town centre has been earmarked for change, bringing investment and a range of new restaurants into the area. We are proud to be working in partnership with New River Retail to support the project and generate new interest and lettings to the centre. 

Steve Berrett, Commercial Director said: “As local agents and with an invested interest in the town we are keen to ensure that The Montague Quarter is transformed from a thoroughfare into a thriving retail and leisure destination for Worthing. We are looking forward to working with New River Retail and bringing a fresh approach to the marketing.”

The south coast remains a hotbed for developers and investors, with demand for industrial and office space continuing to outstrip supply. We have many active investors seeking suitable opportunities, so if you have space to sell or let, please get in touch to arrange a market valuation and we will help you find the right buyers or tenants.

If we can help you achieve your commercial property goals in 2019, please get in touch on 01903 201212 or commercial@michaeljones.co.uk.  

 

 

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