Cheffins and 4 biggest property deals
Four of the region’s biggest commercial property transactions of the year so far – totalling more than 100,000 sq ft - have seen Cheffins acting as agents in all instances - Space Ten at Papworth, Newmarket Business Park, Litlington and Cambridge Science Park.
At Space Ten, a 24,000 sq ft business unit has been purchased by Cambridge hi-tech company Viridian Solar; at Cambridge Science Park the leasing of a major headquarters building is being finalised; at Newmarket Business Park the only major pre-let of 2009 in the local area is shortly to be announced; and at Litlington, a 38,579 sq ft office building has been sold at Cheffins Property Auction.
Commenting on these major transactions, Philip Woolner says: “There is no doubt that the Cambridge commercial property market is recovering gradually from the recession. At all levels we have seen improvements in occupier interest and deals being done.
“From our point of view, the first signs of a recovery were seen at our May Property Auction when several commercial investment properties sold well. As the summer ended we had a wave of transactions sweep through the market. Although rents have stayed relatively static and landlords have been flexible on terms, the hope is that more, higher quality property will be attracted back into the market to satisfy the growing demand.”
