St John's Business Estate Flashcards
Describe the site at St John’s Business Estate
The site as a whole occupied 1.249 acres and was part of a new industrial development that had been built over the last 10 years. It was well proportioned square shaped, relatively level and benefitted from good road frontage.
Why did you advise the St Johns site was lotted?
The site had been on the market for £169,000 for a significant period of time and the demand for sites in this area were either for sites around 2.5 acres or for sites between 0.5 - 0.8 acres.
My client had someone interested in 0.4 acres of the site, so it was an opportunity to dispose of part of the site and also bring the remaining site down to a level that was consistent with the levels of demand.
It was also an opportunity for my client to maximise the capital receipt from the site. The 0.4 acre site sold for £70,000 and the 0.849 site has recently sold for £155,000.
Who is in the market for these types of sites?
Developers and small local businesses who are interested in their own site rather than renting.
How were the sites marketed?
On Rightmove and with a for sale board on site.
