Eightfold Property: “Confidence & positivity in the market seems to be coming from both sides”.
Max Pollock, Commercial Property Director of Eightfold Property:
“Without doubt it’s been a busy year to date for Eightfold Property with 46 transactions completed since the beginning of the year to date with those happening between along the majority of those happening in Brighton, Hove, Mid Sussex, Lewes & Worthing where demand has remained strong across the board.
As is normal with an election combined with a higher than used to level of interest rates there was a degree of uncertainty Q2 & Q3 along with a strong emphasis on holidays this year!!
The end of Q3 & beginning of Q4 seems however to have turned a corner & confidence & positivity in the market seems to be coming from both sides. Those looking to dispose seem to be less hesitant & keen to move forward whilst there appears to be a greater appetite from purchasers looking to place money in commercial investments quite possibly with further drops in interest rates forthcoming.
With Brighton in particular we are seeing a strong demand for well sized restaurant opportunities by London based operators looking to bring their brands to Brighton & sit alongside great recent additions such Permit Room by Dishoom & The New Coal Shed.
In respect of offices in the Brighton & general Sussex market we have been finding that occupiers are getting comfortable with their requirements post Covid, understand better what they now require & are taking appropriate premises to suit their set up & managing systems such as hot desking policies accordingly to maximise efficiency & cost.
To conclude hopefully the Autumn budget will be kind to commerce & confidence will continue in a strong manner with inflation staying low & interest rates following to grease the wheels of industry & we can look forward to a positive strong year in 2025″.
You can see all of the commercial property listed by Eightfold Property on NovaLoca here.
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