A severe shortage of smaller industrial buildings along the M40 has resulted in White Commercial receiving substantial interest in 2 small units in Banbury known as Kingfisher House and Thorpe House, both situated just off junction 11 of the London to Birmingham M40 motorway.
Kingfisher House comprised a detached industrial building of 3,220 sq ft with an asking price in the region of £222,000 with Thorpe House comprising a detached single storey office/industrial unit totalling 4,337 sq ft. White Commercial advise that they achieved prices well in excess of the quoting values – a sign that with the availability of relatively cheap finance and a severe shortage of supply that there is a healthy appetite from industrial companies for smaller units.
Harvey White, Commercial Property Negotiator of White Commercial Surveyors, said “The current economic climate and lack of new development of smaller units on viability grounds has resulted in an increase in value of existing smaller industrial units when these properties come to the market. The substantial development of the northern part of the London to Birmingham M40 is also seeing an expansion of many companies’ business and this latent demand has resulted in a us achieving excellent results for the previous owners of the buildings but offering expansion opportunities for the purchasers”.
White Commercial continue to dominate the industrial property market in their region and have a substantial number of registered parties looking to purchase and lease industrial and office accommodation along the northern part of the M40.