Butters Associates: Improving marketplace in NW Surrey
Article from John Butters, Butters Associates.
Butters Associates, the Surrey agents based in Egham, have noted a marked increase in activity in the last 6 months in the Commercial Property market in both the retail and office markets.
In Egham acting on behalf or RBC they let 12a Charter Place, High St, on the western fringe of the town centre to Matt Wood Flooring Ltd, while No. 64 High Street has just been let to AM2PM Mobile on behalf of a private investor. No 86 High St has been taken by a Martin & Co franchisee.
Following the redevelopment by H & G Living, of 40/44 High Street, with 104 beds of student accommodation known as the Straights Gardens, they have let the 2 retail units at the front of the site to Esquires Coffee who took a 1500sf unit and Fluffy Fluffy, the new Japanese pancake franchise, who took the remaining 1,065sf unit.
3 additional High Street units are now under: Terms have been agreed on No 46 to a retailer, while No 75 is under offer to an expanding clinical beautician and No 133 is under offer to a beauty based user.
The Egham office market has also been active with several small suites being let at rents of circa £25/26p sf pax. For a town that rarely has freehold offices for sale, the last year or so has seen a number of buildings come onto the market. While many may have expected them to go for conversion to residential use, 5 building between 5,000sf and 8,000sf have in fact been purchased by owner occupiers.
3 buildings however have been purchased for conversion. The former Nexus building in Station Road now has consent for redevelopment with residential. Butters Associates acting jointly with Allsop LLP acquired 36 Station Road, the 16,000 sf former Menzies offices on behalf of private clients for conversion to residential under PD rights.
Butters Associates are currently marketing Crown House/ Church Court at 133/139 High Street, a mixed-use property with planning permission for conversion and extension, on a freehold basis. Vail Williams are marketing Runnymede House for sale which also fronts High St.
In Staines, Butters Associates have let unit 3 in Thames Street to Skyn Maps a local beautician, on behalf of a private investor. This follows and earlier letting of the next door to an established Sun Bed operator. A third unit of 1,400sf is available for letting at £40,000pax. At 61 London Road, close to the new Eden Grove development, the unit is also under offer.
One of the few Industrial units left in Drake Avenue Staines of 3,000sf has just been by a private investor to Thames Flame.
The agents report that stock levels are now at a very low level in the area generally and they need more stock as enquiries are outstripping supply.
You can view all of the commercial property available from Butters Associates on NovaLoca here.
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