Welcome to our Article Directory
We have 2779 published articles and 1191 registered authors.

Business as usual for commercial property in Brighton

Author: tugsearch  |  Category: Real Estate
Published: September 6, 2008

Morley Fund Management sold Mocatta House, Trafalgar Place, Brighton, to Invista for ?8.8 million.

The office complex, next to Brighton railway station, measures 3,421sqm over six floors and has 63 car parking spaces.

It is currently let to three tenants – the Post Office, Secretary of State for the Environment, and software company NC Soft Europe.

Morley was represented by commercial real estate adviser CB Richard Ellis (CBRE) in the deal. Neil Crombie, from the investment arm of CBRE’s national business team, said that, despite this deal, the downturn in the commercial market was likely to continue.

He believes commercial and residential property will continue to suffer until the credit crunch, which has resulted in banks being reluctant to lend to each other, has eased off.

Mr Crombie said: “We have definitely seen prices drop off from commercial property by about 15% to 20% since June last year. I would not be confident in saying we are at the bottom and that it will start turning round. Both commercial and residential markets are affected by what is going on in the banking world. Until we see a resolution on that front we are not going to see a huge recovery in either market.”

Despite this gloomy forecast, Mr Crombie says deals were still being done in the commercial property sector and Brighton remained one of the most popular places in the South East to invest. He added: “Transactions always take place when you have a buyer and a vendor prepared to meet in the middle and do a deal. In this particular situation we were both happy.

There are transactions being done across the country. When the market was buoyant you would hear a lot about them but I think a lot of them are under the radar at the moment.

“The sector in Brighton has been particularly positive and development like Trafalgar Place have been very well received and will probably remain so in the future.”

Get more Commercial Property News and Articles.

Author: tugsearch

This author has published 12 articles so far.More info about the author is coming soon.

Additional Articles From ‘Real Estate’

Microtek Greenburg – Stylish living standards Author: acdgurgaon

Published: March 4, 2018

Microtek Greenburg offers 2 & 3 BHK apartments in affordable prices with world class amenities and the widespread landscaping is the perfect combination that delivers homes for an ode to happy living. Sector 86 Gurgaon …

Category: Real Estate