Company News & Blog
Published by: Dunfermline Press
Hardies see signs of increased activity
The commercial property market in Fife continues to show signs of increased activity although some sectors are showing stronger than others.
That’s according to Hardies’ Paul Carr, who said, “The industrial market continues to be the source of most enquiries and activity. Just this week, we have completed lettings on two units within the popular Elgin Industrial Estate, Dunfermline, with another unit moving ‘under offer’. As letting agents on the estate we now have only three units vacant and available for lease. Towards the end of 2014, there were eight or nine units available and the experience at Elgin Industrial Estate is typical of the sector as a whole.
“Other highlights we have seen within the sector are a 6,500 sq ft unit at Hillend, Dalgety Bay, going ‘under offer’ within two months of marketing. We have also commenced the marketing of a 7,000 sq ft unit with a good-sized secure yard at Pitreavie Way, Dunfermline, and are anticipating strong interest.
“With the construction of the new Forth Crossing progressing at speed, the attractiveness of West Fife in terms of accessibility will continue to improve and, assuming that the economy overall remains stable, then we would expect demand from industrial occupiers to continue to rise.
“Given the shortage in availability of good quality, modern industrial properties under 10,000 sq ft, it is reasonable to expect rents within the areas’ established industrial estates to rise.
“Enquiry levels for retail and office property remain low in comparison but there are encouraging signs. Hardies are soon to commence marketing on two significant retail units in Dunfermline town centre and, although just outside Fife, we recently completed the letting of a shop on Kinross High Street which was ‘under offer’ within days of the marketing board being erected.
“Whilst the market for town-centre offices remains difficult, we have let two small office suites and a shop on Canmore Street in recent times. The office market is still affected by the large amount of business park space that is available across the Central Belt at low asking rents and it is difficult for town centres to compete in terms of price as well as accessibility and parking provision.
“We have a very good quality detached townhouse office available for lease at Balcairn House, Viewfield Terrace, Dunfermline. This extends to almost 2,000 sq ft, is in excellent condition and benefits from two parking spaces. Hardies have another office property at 43 East Port, extending to just over 2,000 sq ft, currently available for sale and benefits from five parking spaces as well as planning consent for residential development.
“All things considered, the market continues to perform in a steady, fashion overall and, with the General Election now behind us, we are anticipating a busy summer period.”
Further details www.hardies.co.uk