PROPERTY
Commercial property agent Parker Barras has reported seeing a huge increase in demand , despite the shift towards home or hybrid working .
HQ - the Middlesbrough base of Parker Barras , whose partner Aaron Fisher ( inset ) reports a surge in demand on commercial property .
IN HIGH DEMAND
P arker Barras , one of Teesside ’ s leading commercial property agents , has reported high demand in the commercial property market and forecasts an extremely healthy post-pandemic market .
Partner Aaron Fisher states that the company has worked with an increasing number of first-time business owners as well as independent retailers who desire bricks-and-mortar premises to complement their online businesses .
He also highlighted that numerous takeaways have sprung up during the pandemic , further boosting the steady demand for commercial units . National occupiers are also assessing property requirements , making for a very active market .
“ The first two quarters have been very busy , with Parker Barras proud to include KFC , Cooplands Bakery , MKM Building Supplies and Starbucks UK among our rapidly expanding client base ,” Aaron says .
The increase in demand is particularly clear at Parker Barras , which has had a large increase in enquiries from buyers and prospective tenants over the last year .
The firm is currently handling 23 brand new light industrial units at Lagonda Road in Billingham – and Aaron says tenants were queuing up to take occupation before they were even built .
“ We have rented out the majority of these units , with only a few remaining , and 75 per cent of the site is start-up companies or first-time business owners ,” he added .
“ There was definitely a surge in demand at the beginning and we had five tenants ready to move in before completion . We have also had people who were operating from home during the pandemic who became so busy they could no longer do so .”
A former sausage factory spread across several buildings on North Road , Middlesbrough , was placed on the market and received unprecedented demand from investors , developers and owner / occupiers . Parker Barras asked for best and final offers and achieved well over the guide price .
The demand for industrial space continues to be high and the firm has been instructed on a substantial warehouse / distribution unit at Haverton Hill offering more than 80,000 sq ft . Enquiries from companies outside the area looking to relocate have already started to flow in .
Aaron said : “ One of our most impressive projects has been the recent sale of a 75,000 sq ft mixed-use property in Peterlee , formerly a call centre .
“ The demand for such large call centres during my time with Parker Barras has been non-existent .
“ The Peterlee call centre has been repurposed into warehousing and office space for a national furniture manufacturer looking for a new headquarters .
“ This important sale points not only to the efficiency of Parker Barras but to the flexibility of our approach , as repurposing the building resulted in a quick and substantial sale .”
Parker Barras has taken on new staff to assist in the expansion of the services
on offer , with the objective of providing an enhanced professional and personal experience for clients .
In particular , the company will focus on its ability to fulfill the needs of its national client base , as well as looking to assist in the sale of businesses .
This will complement Parker Barras ’ already well-established reputation with national investors , as well as their increased investment in the local leisure and hospitality sector .
Aaron reports a surge in instructions for the firm to assess the business rates liability of local and national companies .
One recent success story has seen Parker Barras claim back more than £ 90,000 for the UK ’ s leading independent supplier of PVC panelling , MB DIY .
He said : “ Parker Barras is equipped to handle much more than property sales and lettings , making us the all-in-one solution for commercial clients .”
Parker Barras hopes to provide a greater focus on business sales in the coming months .
Aaron added : “ We want to help businesses sell their company as a going concern if they are moving on to something else or retiring and we will be focusing on this in quarter three .”
The company believes it has found a gap in the market for these services and expects high demand for them as people reassess their priorities in a post-pandemic world .
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