PRESS RELEASE

Westcountry Market Moves In 2011

Well known commercial agent Gary Cleverdon comments on the property market in the Westcountry in 2011, especially in the transfer, licensed, catering and leisure businesses. So what really was selling in the South West?

Mr Cleverdon firstly outlines “There is much to inform & help the general public and businesses community about the real elements of the commercial property market. Businesses are being sold in all areas including catering, pubs and hotels. There is much activity in the leasehold market with many new applicants from different backgrounds entering the trade or self employment for the first time.



Top of the list is catering - café’s, tea rooms, bakers, pizza makers, specialist food creators and the like. The key is consistency in all areas, products and of course turnover. Banks are not interested in lending to the leasehold market so purchasers are buying for cash and this leads to nice swift transactions, which makes to a progressive lease market. Landlords he adds are making good decisions for their leaseholders too.



In licensed sector and what we call “hospitality” pubs, free houses, guest houses and hotels there was an increase of interest in the Autumn of 2011. Mostly in Mr Cleverdons view in the “Mid Market” freehold free houses prices from £300,000 - £500,000 and good guest houses across the Westcountry. Be warned that applicants and purchasers will need at least a 50% deposit to buy. This in turn often brings stronger purchasers to the forefront and leads to real sales. He points out that many applicants have aspirations to live and work in the Westcountry but are ill advised from the start of looking for what their budget should be in the 2011 market!

Are you wanting to buy or sell in 2012 call Gary Cleverdon at Westcountry Commercial 01363 77 55 00 for frank direct advice.