News

The Potteries Goes Under Offer in a Week

Published 26 Mar 2019

Author

Tom Holloway

The Potteries is a small, attractive business park providing self-contained office buildings within easy reach of Fareham Town Centre and the M27 motorway. No 6 had been marketed to lease for a number of months during the summer of 2018, but will little occupier interest.

Holloway Iliffe & Mitchell was appointed as joint agent and at the time of the appointment, put forward the idea of offering the freehold for sale as an alternative to letting the 4,000 sq ft office building.

Within a week of marketing the property for sale, an offer close to the £650,000 asking price, was received and accepted by the vendor. The transaction has now completed and the purchaser, DBB Properties Limited plans to relocate its business there and as a result The Potteries is now fully occupied.

Commenting on the deal, Tom Holloway said:
“The Potteries business park is well located with good road connections and plenty of on-site parking for occupiers. However, the letting market across the south coast during the second half of 2018 had been proving slow, with potential occupiers taking longer to make decisions and in many cases opting to refurbish existing space rather than move.

“Once the landlord had agreed to offer the building for sale, the interest levels changed very quickly, and we were able to secure the sale to another local business which had been looking for new premises.”