Serviced Offices Leatherhead
The Epsom and Leatherhead letting market has been in the doldrums recently. However, interest is improving for certain requirements. A recent feature of the market place in general. is that the deals are taking much longer to complete and the values of transactions are not as big as one would like.
There has only been one new Commercial property to be built in Epsom in the past few years. The new building on East Street is 23,000sq ft and spread over 3 floors. This space is partly occupied by a Serviced Office provider, which is able to cater for a wide range of companies.
Serviced Office providers have taken advantage of the recent lack of activity and have been able to take on new Grade ‘A’ space and re-let on their tried and tested business model.
The developer of the East Street building has already received interest in some of the floors but ideally, would want the next occupier to take the entire building. They are quoting a guideline rental price of £27.50/sq ft, which is average for the area.
Although the lettings market has been quieter than usual over the last winter, Movehut.co.uk is experiencing an increased search pattern for Leatherhead. In particular. Serviced Offices seems to be popular, which may indicate the expansion or creation of new businesses.
If growth is returning, expect tightening rental levels and increasing turnover, which will no doubt quickly feed through to increased demand for conveyance and shop fitting services etc.
Commercial property is ruled by confidence, which has understandably been dented somewhat of late. The take up of space in Leatherhead may help this sentiment be reversed within the area.
Leatherhead has had mixed fortunes in the past. Once home to Remploy, Goblin and the Ronson Lighter factories, these disappeared in the 1980’s. They were replaced gradually by industrial parks. The town has succeeded in attracting service industries and headquarters of prominent companies.
One of the advantages of Leatherhead is it’s proximity to the M25. This gives great access to Greater London and the South East and gives a competitive advantage over less well placed towns in Surrey.
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