Halls Commercial reports steady demand for offices in and around Shropshire

Greatest demand is from professional services, health providers and SME’s from within the region. The Shrewsbury-based agency, which has a range of offices available to let across Shropshire, Worcestershire and Staffordshire, reports ongoing development and business park expansion in strategic locations to meet future demand.

Simon Cullup-Smith, a commercial property agent at Halls Commercial, says demand from investors for office investment opportunities is buoyant in Shropshire.

“There is genuine investor interest in commercial property assets in the county, including office buildings,” he said. “Supply relative to investor demand is supporting transactional activity and competition, particularly for centrally located or well-leased office buildings and previous investors with a steady return on capital.

“Halls Commercial has recorded some notable successes in the investment market already this year, with properties swifty under offer following their release to the market and investors actively seeking new stock and the market seeing fall out from investors leaving the residential market.

“This suggests a tight supply of commercial investment stock, making well-located office buildings more attractive. There is definite investor appetite for income-producing offices outside cities and to a degree, local business centres.”

On the lettings front, average office rents in Shropshire are typically lower than core city centres, but offering potential for rental growth, making the county an attractive location for investors, occupier owners and tenants alike.

“We are finding that demand is driven by local business creation and relocations rather than large corporate expansion,” added Simon.

“Business parks and strategic sites remain key office clusters.”

Halls Commercial currently has offices available for sale and to let in Shrewsbury, Telford, Stafford and Bewdley.