Member Article

Property Industry Should Focus On The Positives In 2019

Leeds based property consultancy Gent Visick has enjoyed a bumper 12-months and believes that despite uncertainty surrounding Brexit, the regional and national commercial property markets have a lot to be optimistic about heading into 2019.

The company’s specialist agency, building consultancy and investment divisions were involved in many of the North of England’s most notable property deals during 2018. These included letting, selling and refurbishing a 270,000 sq ft industrial site at Flaxby to create one of the UK’s most advanced modular home production facilities for ilke Homes, and negotiating the sale of a 45-acre former tank factory site at Crossgates, known as Radial Park, to house builder Strata.

Gent Visick also completed one of West Yorkshire’s largest industrial lettings of the year, when Allied Glass expanded into Towngate’s Copperworks site in Leeds, as well as successfully introducing supercar giant McLaren to Rotherham’s Advanced Manufacturing Park.

Other highlights for Gent Visick in 2018 include celebrating its fifteenth birthday by raising money for numerous charities, scooping three top accolades at the Yorkshire Property Awards and expanding into central London, opening a new office just off Oxford Circus.

Rupert Visick, managing director at Gent Visick, said: “There’s no denying that 2018 was a memorable and hugely successful year for us and despite Brexit being the elephant in the room, there’s no reason why 2019 can’t continue in a similar guise. Forward-thinking property companies, investors and high net worth individuals should be recognising the opportunities that Brexit is throwing into the property market right now.

“Immediately after the referendum vote, those that were prepared could react quickly to the market and take advantage of the opportunities that presented themselves. The saying that ‘success is where preparation and opportunity meet’ will definitely be true over the next 12 months. Generally, the UK’s underlying economy is strong, which should translate into solid prospects for commercial property investors that arm themselves with sound advice.

“We’re continuing to see ever-increasing investor interest surrounding logistics as an asset class, and there’s certainly plenty of capital available for financially robust opportunities.

“Plus, the basic rules of supply and demand are also heavily tipped in the market’s favour going into 2019. There’s very little speculative development happening in the industrial market and not much quality space available, so tenant appetite is strong. There’s particular demand for economic storage options, as well as Grade A and secondary accommodation, and there is certainly going to be a shortage of this type of space throughout 2019 and beyond.”

Gent Visick is a leading niche property consultancy providing support during acquisitions, sales, lettings and investment transactions. Its services include industrial agency, building consultancy, investment and strategic consultancy.

This was posted in Bdaily's Members' News section by Steven Wright .