Monday, December 14, 2015

News: Burgess Commercial report on Rotherham commercial property market

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The commercial property market in Rotherham has been another very challenging, but positive year, report Burgess Commercial, who have been established in the town for seven years now.

Paul Burgess and Neil Keally set up the Tembleborough office to offer their expertise in sales, lettings, valuations and professional work in respect of all types of commercial property including property management.

In 2015 Burgess Commercial has sold or let 40,231 sq ft of offices in Rotherham.

In Rotherham town centre, Burgess were involved in the sale of South Terrace, the previous offices of Allotts Accountants, to local investors. In the heart of Rotherham's professional district, it follows on from their successful disposal of the freehold of two stone-fronted office buildings, previously occupied by the chamber of commerce, known as 11 and 12 The Crofts. Again to local investors, the site totalling approximately 3,000 sq ft is now available for rent.

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Women's refuge charity, Rotherham Rise, worked with Burgess to lease 5,858 sq ft of space at 22 Main Street - the former post office (pictured), and on the edge of the town centre, Milton House, the previous home to the Lifeline charity, was sold at auction for £155,500 in September. Burgess Commercial has since secured a deal with Enable Rail Academy that has seen the training provider take 1,605 sq ft of space to offer a wide range of railway industry training courses.

One deal close to completion is the disposal of Norton House, the 12,563 sq ft office building previously used by Norton Finance in Rotherham town centre. The sale of the freehold has been agreed.

In the Dearne Valley, Burgess reports that Crisis UK, the national charity for single homeless people, has agreed terms for 3,545 sq ft of office space at Concept Court in Manvers.

Burgess Commercial continues to act as managing and letting agent at Bolton Road Business Park where 37 units are let to small and medium sized businesses. Owned by Rotherham Enterprise Agency Ltd, it has been fully occupied through the past year with just one unit available at present. The agents believe that the demand is coming from individuals and small businesses emerging from the recession.

For the retail sector, the experts report that some areas of Rotherham town centre have experienced a downturn in footfall, with areas such as Corporation Street and the Riverside Precinct down as much as 75% since the relocation of Tesco. Neil Keally, director of Burgess Commercial, added: "The High Street has befitted from much needed investment and grant assistance, with new retailers now enjoying a much improved street scene and quality of retail space available."

Burgess Commercial website

Images: Burgess Commercial

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