We have again been awarded the title ‘Most Active Agent’ in Cornwall by the industry’s Estates Gazette Magazine after it’s researchers collated transactions submitted from all the main commercial property agencies operating in Cornwall in the period from 1st May 2013 to 30th July 2014.
Research Data Executive at Estates Gazette, Oi Yun Li, said “Miller Commercial remains the Most Active Agent in Cornwall despite strong competition in the area”.
The company, which has been operating in Cornwall for nearly 20 years, recently took on 3 new members of staff to help deal with a steadily growing number of enquiries and instructions for commercial property both in Cornwall and Devon.
Partner at Miller Commercial, Peter Heather says: “This award is testament to the team effort of the whole of Miller Commercial.
The sheer volume of transactions that we conduct both within Cornwall and more recently in Devon is growing at a pace.
We have always had a strong presence in retail and industrial property, and this is probably a by-product of the amount of Property Management work we undertake.
We have been delighted to see a great deal more activity in the leisure sector, where the market has become a lot more balanced, and now receiving support from the banks’ lending. This follows much better tourist seasons in 2013 and 2014.
We are also seeing greater levels of activity from some of the larger regional and national restaurant chains looking for a presence in the West Country where previously they have focused their attention on the south-east and UK’s major cities. This includes Prezzo, Frankie and Bennys, The Lounge, and Stables in locations such as St Austell, Falmouth, Newquay and Truro, with many more unsatisfied requirements in the wings.
We are in the process of concluding a number of investment transactions in locations including Truro, Penzance, Bodmin, Redruth and even Polperro where the total value of the transactions is in excess of £5 million where yields range from 7% to 12% and one more unusual one at nearly 20%.
The statistics for 2014 show that as bullishly as the multinational commercial agencies are expanding, on a regional level commercial property remains by and large the preserve of the smaller independent companies with local knowledge and contacts.”