Barnsley Chronicle Commercial Property Review 30th October 2009

The market for commercial and industrial property in 2009 has been very challenging for those who work in it, but despite this there have been some positive achievements.

Chris Rowlands, managing director of Chris Rowlands & Co. Property Consultants, says for him there have been a number of notable success stories in the past year, including the letting of 15,000 sq ft of offices to Barnsley NHS PCT at Longfields Court on the Wharncliffe Business Park at Carlton and the establishment of the serviced offices and managed workspace by DBH Business Centres on the same site. 

"Remploy have taken 3,500 sq ft on the fourth floor of Joseph Locke House and the final 5,000 sq ft hybrid unit at Capitol Park next to Junction 37 of the M1 has been let to Sheffield Children’s Hospital who will use it as their Patient Retrieval Centre," said Chris.

"Providence Villa on Sackville Street is now home to The Branches Physiotherapy Clinic and Barnsley Medical Consulting Rooms who have moved across the road from Churchfield Court."

On the industrial front Chris reports that Shortwood Business Park, a development by Priority Sites near Junction 36 of the M1 at Birdwell, has continued to be very popular with the majority of units now occupied. 

"Only two remain unspoken for and are available on very competitive terms," said Chris. 

"Wortley Court at Dodworth is now almost fully occupied with tenants including Fast Lad Performance who trade in remote controlled helicopters, Osborne Technologies who have moved from Fall Bank Industrial Estate and Crown Decorator Centres. Another unit is under offer to a motor racing team. 

"Meanwhile the Civic Hall refurbishment is largely completed and proving to be popular and successful. There are currently three floors of retail space amounting to over 20,000 sq ft which will provide excellent accommodation for specialist retailers giving Barnsley another retail angle to complement the Barnsley Markets redevelopment which has regrettably been delayed because of funding issues.

"The majority of deals that have been agreed in the market place have been leases and licences often at figures very much in the tenants favour. The Government’s recently introduced requirement for rates to be paid on vacant buildings has caused landlords to reduce rents significantly in order to attract occupiers with many bargain deals being struck."

According to Chris the recession and restrictions on borrowing for property purchase has hugely dented the market with relatively few sales having taken place. Furthermore much proposed new development has had to be shelved because schemes are simply not viable in the current market. 

Looking to the future Chris believes there is likely to become a shortage of better quality stock as the market eventually improves. 

"Barnsley is traditionally a resilient town. Having experienced the recession of the early 1990s and the miners strike in the 1980s I am confident that the market for business property will ultimately emerge from the current depressed times, stronger, fitter and ready to respond to the challenges of the next decade.”