19th August, 2019
As one of the region’s largest and best known commercial property agents, we are delighted to have been declared Cornwall’s 'Most Active Agent' for the ninth year in succession by Estates Gazette, the industry’s leading voice on all matters in the commercial property sector.
The prestigious Estates Gazette award recognises the commercial agency which completes the most number of deals each year.
Our Head of Commercial Agency, Tom Smith commented, “To win this award for an 9th successive year is truly amazing and is testimony to our tremendously hard working team as well as the individuals, organisations and funds who have engaged our services and have enabled us to complete so many deals.
Whilst our business is ever expanding across the South West and beyond we continue to invest in people and resources across Cornwall and this award clearly recognises that. We are extremely pleased with our new, award winning website, which is aimed at connecting our customers and clients with our staff and we look forward to continued success over the coming years”.
We are here to advise on all aspects of commercial property and have specialist teams in the Commercial Agency, Business Transfer, Property Management, Valuation and Professional Services sectors as well as providing advice for those seeking or selling investment and development opportunities. Contact us on 01872 247000 or email email@example.com and we will be pleased to assist.
8th August, 2019
Cornwall's economy has always been heavily dominated by tourism, so it is no surprise that the County has an abundance of businesses designed to capitalise on the annual influx of holiday makers.
Seasonal businesses include everything from an ice cream kiosk on the beach to a waterfront restaurant to a 50 acre holiday park and are characterised by the fact that they generally trade between Easter and the end of October each year. That being said, many other businesses such as pubs and shops, especially those in coastal locations, are also heavily reliant on the uplift in trade during the summer months.
When operators make the decision that ‘this will be their last season’, (which is usually 3 weeks into a frantically busy August), they typically make a mental note to contact us when things ‘quieten down’.
This is doubtless why we see the largest number of valuation enquiries in September and October, with owners looking to try to sell their business ahead of the next years’ season. The thought process is very logical and more convenient for operators, who can then avoid juggling viewings and subsequent requests for accounts and information when they are really busy.
However, there is a major flaw to this strategy in terms of the ‘perception of the buyer’.
An increasing number of people are relocating to Cornwall from out of County, with the vast majority looking to buy, not a business, but a lifestyle.
They are picturing sun-soaked beaches crammed with happy holiday makers, all queuing up to buy ice-creams, pasties and fudge and clamouring to hire paddle boards, buy wet suits and book surfing lessons. They hear children laughing and tills ringing.
They are not the prepared for the harsh reality of a cold, wet November day with gale force winds, rough seas, closed shops and empty streets.
The end result? An illusion that is well and truly ‘shattered’, (and disillusion buyers tend to keep a tight hold on their wallets!)
As Commercial Agents, we understand that trying to sell during the busy summer months is likely to be inconvenient, however, marketing during the summer when you are over-run with customers and the sun shining, enables buyers to see ‘their dream in reality’…it validates their decision to ‘take the plunge’ and is the best way to achieve the optimum price for your business.
As they saying goes, ‘everything looks better in the sunshine’.
If you are thinking that ‘this is going to be your last season’ then NOW is the time to start marketing.
In an ideal world, it means you could have a buyer lined up for the end of the season, meaning you can have the benefit of the season and don’t have the ‘carry’ your overheads through the winter months at all.
If you would like a free, confidential market appraisal, at a time convenient for you and your business, please give me, Beverly Northey, a call on 01872 247031.
1st August, 2019
As Cornwall's most active Commercial Property Agency for the last 8 years, we are delighted to have launched a brand new website.
In conjunction with full service creative agency Vitamin Cornwall (formerly Creative Edge), photographer Matt Jessop and drone videographer Mark Polson, we have developed a market leading site with a complete new look and a series of modern features, all designed to make it easy for those looking to buy or lease commercial properties or businesses to quickly and efficiently find what is available.
On the basis that people are at the heart of commercial property and business transactions there is also a significant increase on the focus of the Miller Commercial team.
Partner Mike Nightingale commented:
‘We recognise that potential clients - either buyers or sellers - undertake significant amounts of research and evaluation before they make direct contact so it is vital that our website reflects a combination of the client experience we offer alongside our depth of knowledge and expertise and growing use of cutting edge technology.’
16th July, 2019
One of Cornwall's best known tourism attractions, the multi award winning Dairyland Farm World near Newquay has been sold by Miller Commercial.
When it opened in 1975 under the guidance of the late Rex Davey, Dairyland was one of the first farm diversification tourist attractions in the country. The 60 acre site currently features an array of attraction facilities including a Cornish Heritage Museum, a nature trail, the milking parlour and the famous Bull Pen.
Current MD, Brian Anderson made comment. ‘It has been a great pleasure to have developed an attraction that has brought so much pleasure to so many locals and visitors over many years.’
New owner and MD Louise Richley commented, ‘Dairyland is an integral part of the Cornwall tourism landscape and we have very exciting plans for this opportunity to build on the excellent attraction Brian and his team have developed.’
Peter Heather, Partner at Miller Commercial added, ‘Dairyland is an iconic Cornwall tourism brand and we are delighted to have helped secure new owners.’
30th May, 2019
We have been based in Cornwall in offices within a grade two listed building for all of the 25 years since we became an independent company back in 1994.
In those days technology was pretty sparse, we had telephones and fax machines but no Internet or email.
And whilst we did lots of business in Cornwall we weren’t really looking beyond the Duchy simply because everything was too far away and seemed to take forever to get to.
How things have changed.
Cornwall now has a much improved road infrastructure with the continual dualling of the A30, Cornwall Newquay airport has four daily flights to London as well as direct flights to other UK airports and parts of Europe and we have superfast broadband across 95% of the region.
Invest in Cornwall were quoted in a recent article in the Daily Telegraph saying that the tech sector in Cornwall grew by 76% between 2010 and 2018 and that Cornwall now has 935 tech businesses. I don’t know how many there were back in 1994 but I suspect it was just a handful.
Cornwall was always very well connected as far as people go but now technology has transformed that connectivity and positioned Cornwall as an amazing place to live and work.
We’ve noticed, particularly in the last two years, a significant growth in enquiries from investment companies looking for premises in Cornwall for technology-based businesses, a mix of established ones looking to relocate and start up’s with funding already in place. The Innovation centres across Cornwall are just one example of how purpose-built premises provide huge benefits in attracting businesses to Cornwall. Technology has also enabled us to operate in a much wider market with our client portfolio extending into the Midlands, across the south of England and into London.
The combination of technology and lifestyle is also helping us attract very talented people, although as I write this article we are still seeking a senior surveyor for our property management team. Interested parties please do get in touch.
As a company we have always seen technology as an opportunity for competitive advantage and more importantly as a way of continually enhancing the service we offer to our clients.
This year alone we are launching a fantastic new website, introducing drone video and photography, high quality still photography and interactive floor plans alongside 3D property tours whilst encouraging our client facing teams to use technology to work remotely.
Technology is a key driver of the Cornish business economy and with our company celebrating in 2019 twenty five years of being an independent Cornish-based business we look forward to an exciting future.
20th May, 2019
According to the CoStar group, who monitor industrial sale volumes across the UK, investor interest in the Devon and Cornwall industrial market has picked up strongly in recent years in contrast to a wider national slowdown.That pick up has seen Industrial investment across Devon and Cornwall in Q1 2019 exceed £20 million, nearly double the amount spent in the same period in 2018.
This buoyant start to 2019 follows a busy 2018 which saw many institutional investors enter the commercial property market encouraged by a combination of positive occupier demand, limited construction, rising rents and low vacancies.
CoStar report that industrial vacancies in Devon and Cornwall currently sit just above 1% giving the region the lowest vacancy rate of all Southwest industrial markets and one of the lowest vacancy rates across the whole of the UK.
CoStar also report that on the back of this demand rents have responded with an annual growth of 3% as of April 2019.
The CoStar market report backs up the considerable surge of interest that we have had from both private and institutional investors at the start of 2019. With continued uncertainty in various investment markets commercial property is seen as an attractive way of securing good net yields, particularly with the current growing demand for industrial space. If you are thinking of disposing of industrial space then now is a very good time to go to market.
If you are looking to buy, sell or lease industrial space please do get in touch with the Commercial Agency team on 01872 247035.
30th April, 2019
Head of Property Management Nick Maffey has become an equity partner of Miller Commercial as of May 1st 2019.
Nick joins existing partners Peter Heather, Mike Nightingale and Brian Botting.
Nick, who joined Miller Commercial in 2009 after gaining significant experience in the national and international property management sectors within a major London property consultancy firm, commented: “I am both excited and honoured to become a partner of Miller Commercial. The firm is a superb place to work, we have some highly talented and hard-working people and the demand for our services continues to rise”.
Miller Commercial partner Peter Heather commented: “The appointment of Nick to partner signals the start of a new chapter in the firm and is another significant move forward for Miller Commercial and recognises, as we celebrate 25 years of being an independent company, our ambitions for the future. Nick has done a fantastic job in delivering our enhanced property management services to clients across the wider South West. His appointment is very well deserved.”
29th April, 2019
On Sunday 28th April the ‘Famous Five’ from Miller Commercial joined other local businesses in supporting the transformation of Truro’s local theatre, Hall for Cornwall, by participating in a 5Km Fun Run at The Eden Project.
The Hall for Cornwall has been closed for a couple of years for refurbishment in order to transform the building to expand its capacity and support the innovative community learning and talent programmes.
Miller Commercial's Property Management team: Brian Botting, Louise Squires, Stephen Peckham, Zoey Collis and our electrical contractor from Holmans, Ian Prout, all successfully completed the challenge with Louise Squires coming second overall.
Team Captain Louise Squires said, "It was lovely to be a part of this special event and to help contribute towards our local community, it didn’t matter what age or ability anyone was the atmosphere was really great."
18th April, 2019
Miller Commercial, one of the region’s largest and best known commercial property agents, have been declared Cornwall’s most active agent for the eighth year in succession by Estates Gazette, the industry’s leading voice on all matters in the commercial property sector.
The prestigious Estates Gazette award recognises the commercial agency which completes the most number of deals each year.
Mike Nightingale of Miller Commercial stated:
“To win this award for an 8th successive year is truly amazing and is testimony to our tremendously hard working team as well as the individuals, organisations and fund managers who have engaged our services and have enabled us to complete so many deals.
Whilst our business is ever expanding across the South West and beyond we continue to invest in people and resources across Cornwall and this award clearly recognises that.”
Miller Commercial, based in Truro, advises on all aspects of commercial property and have specialist teams in the Commercial Agency, Business Transfer, Property Management, Valuation and Professional Services sectors as well as providing advice for those seeking or selling investment and development opportunities.
18th April, 2019
Here are 10 top tips top to help you sell from Graham Timmins, Miller Commercial’s Head of Business Transfer
- Get your ducks lined up: Plan your sale and execute; with help from your Agent organise the EPC ; consider having an Abridged P&L prepared; get copies of updated Licences (Premises / Site); any recent Planning Permission
- Get early advice, it may be a while before you are considering a sale and we can provide guidance as to how to prepare your property and business to go onto the market when ready
- Consider the time of year when planning a sale, buyers are focussed on seasonality, the signposts are Easter, Whitsun and Summer Holidays
- Invest in your sale, this may be financially, but will certainly require some emotional input, i.e. how motivated are you to sell, is it the right time for you to give up your home and income?
- Consider what level of marketing you are happy to have; i.e. high profile editorial or confidential, different approaches can be equally effective, so don’t be put off by exploring either
- Choose the right Agent who has experience of sales in your sector, uses all e-marketing and of course gives value for money
- Be patient, sometimes, businesses can take longer to sell than a house, particularly if the business has a high seasonal income uplift
- Consider dual marketing via a Change of Use Residential application, this can add another string to the bow
- Presentation of property, make good the obvious reparations
- Online presentation, if required and where possible address any online review issues
If you are thinking of selling your hotel or guesthouse we would be delighted to offer you our expert advice. Simply call me, Graham Timmins
, on 01872 247019 or email me via firstname.lastname@example.org