SCARCITY DRIVING ROYSTON COMMERCIAL VALUES

Bennetts Car Parts, a regional supplier with 25 depots that are mainly in the eastern region, has just acquired a business unit on the Orchard Road Industrial Estate, which went to best and final offers with eight bids received.  The asking price of £185,000 for the freehold of this 1,615 sq ft unit was substantially exceeded.

Mark Robinson of the agents Robinson Layer said: “Little quality commercial property has been built in Royston since the Orchard Road estate was completed.  This, combined with both the high cost and low supply in nearby Cambridge, as well as shortages within the M25 and places like Hitchin and Letchworth, is driving up rents and freehold values here.

“That we had eight serious bidders for this property is evidence of the high level of demand for quality properties.  We have also sold a property adjacent to this one recently with similar levels of interest and two nearby larger units, with only one of the four sales being to an existing Royston business; such is the demand for freehold as well as rental properties.”

FOR FURTHER INFORMATION PLEASE CONTACT MARK ROBINSON ON 01223  346195 OR EMAIL: mbr@robinsonlayer.co.uk.