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After lengthy and difficult contract issues and 4 different solicitors being involved, Medhursts have effected the sale of the freehold of an A5 unit at 9, St Pancras Chichester, with a lease back of the upper parts. A price of £200,000 was achieved for the ground floor. 

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The preceding months leading-up to the Referendum Vote on 23rd June, were very quiet in the local commercial property market. The phones stopped ringing as people were waiting to find out how the vote would go. Now in the third week following the result, business seems to have returned with 5 viewings in 3 days this week resulting in 4 proposals being issued. 3 other unrelated valuation instructions have been awarded.

Our reading of the situation is that the rapid actions of the Conservative party to put in place plans for the next stages, has replaced some confidence, particularly for the domestic economy. We are expecting the rest of the year to return to normal.   

14/7/16

Acting for a BNP Paribas investment fund we have completed a letting of Unit 25 Old Mill Square precinct, Storrington. The double fronted retail unit in between Waitrose and Barclays Bank, has been taken by Stacey Phillips for use as a barbers shop.  One unit remains available following Waitrose's decision not to expand their store eastwards. 

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Chichester business people were fortunate to hear the opinions and views of local MP Andrew Tyrie,  first hand. At a relaxed lunch organised by the Chamber of Commerce, hosted by The Ship Hotel and sponsored by Rathbones, we heard wise words from the senior policitian on a wide range of topics. From local A27 By-Pass issues, to housing, bankers bonuses, Brexit, pensions and even Boris Johnson.

 

Andrew Tyrie

01243 520949

info@medhursts.com

© Medhursts 2014
4 Northgate, Chichester, West Sussex, PO19 1BA