Vickery Holman is a leading commercial, development and investment property agency covering the South West, helping clients buy, sell and let commercial property from Land’s End to Bristol. Our ethos is that we do what it takes to make deals happen, whether that involves identifying opportunities to add value, ensuring lease terms are as robust as possible, managing complex agreements with multiple partners or driving the marketing campaign to ensure the best conclusion.
Are you looking to sell or buy commercial property?
Do you want to rent or let a property?
Are you looking to work with an established PAI member?
Commercial Property Agents
We have a team of experienced and proactive commercial property agents who work closely with their clients to ensure that we help owners optimise the returns on their investments and to help occupiers get the best value from a deal. Our property agents are based in Truro, Plymouth, Exeter and Bristol and have extensive local knowledge about market rents and values – essential for our commercial property consultancy work.
When you appoint us to sell or let your premises, we will use our market knowledge to find interested parties for your property. We oversee the process from start to finish, negotiating the best sale or lease terms and progressing the matter through to completion as quickly as possible.
Potential tenants and buyers also benefit from our regional and local knowledge and we can search the market on your behalf to identify opportunities for you. Our ability to negotiate the best lease terms or sale price is one of our core strengths and something we take pride in, as it regularly saves clients time and money.
We have specialist Development team who work with clients to sell or buy land, and help clients with development opportunities.
We also have a specialist Investment consultancy making sure that clients have access to the best advice on strengthening their property portfolio and market conditions.
Get in touch to find out how we can help you achieve your commercial property ambitions.
Frequently Asked Questions
How do I get a valuation on my property?
We have over 20 RICS Valuers based all over the South West with in depth local knowledge of market values. Putting a value on commercial property is more complicated than valuing residential property. To find out more about valuation, please click here. To get a valuation on your commercial property, please contact one of our offices and we’ll put you in touch with the best person to help you.
How long does it take to sell a property?
The commercial market depends on the area and the local supply and demand. Properties that are priced appropriately, in a good location and in good condition can sell quickly. Generally, it can take anything from a few weeks to a year depending on the local market. We will work with you to achieve the best result for you in terms of speed and price.
What should I consider when buying a commercial property?
There are a number of considerations when buying a commercial property. We could advise you get the property surveyed, and we have a Building Surveying team that can assist you. Do your research about the location, market values, transport links, other developments in the area and planning restrictions. Have the contract checked carefully and use a commercial property lawyer. Check the Rateable Value (RV) as business rates can be a considerable cost. We have a Business Rates team who are very good at checking and challenging RVs.
Is commercial property a good investment?
investors have been turning to commercial property as a good investment. Lease agreements tend to be for a longer term than for residential and often fully repairing and insuring which removes a lot of the costs of maintaining a property. Demand for most commercial property is running high in the South West so values are also rising. For more information on market conditions and investment opportunities, please contact our team.
What’s the market like for commercial property?
What is a good return on a commercial property?
Typically investors see 5 – 10% return on commercial property, which is much higher than residential property yields. There are a variety of situations in the commercial property market which impacts the return, for example when investors are looking for secure long term income. For more detailed information on market conditions and returns, please talk to one of our agents.
Valuation versus market appraisal?
Market appraisals give a vendor an idea of what a property might fetch on the market whereas valuations are carried out by RICS Registered Valuers and are evidence-based. Valuations are more formal, following strict professional guidelines and have professional indemnity insurance. Valuations are usually required for a lender or as part of a portfolio appraisal.
What costs are involved in buying a property?
There are costs involved in buying a commercial property. You will need to pay the fees for professional advisers such as surveyors and solicitors which are usually a percentage of the purchase price. If you are borrowing money to finance the deal, there will be fees attached to that. Stamp Duty Land Tax may be payable. Once you have completed, you’ll need to pay business rates based on the Rateable Value. There will also be insurance to arrange and local authority costs plus service charges for water, electricity and gas where appropriate.
Do I need a solicitor when I buy or rent a commercial property
We recommend you use a commercial lawyer when you buy or rent commercial property as there will be contracts to draw up or agree to. Lease Agreements can be complicated, but we have a Lease Advisory team on hand to assist you. We comply with the Law Society Code of Leasing Premises and RICS Guidance.
Do I need an EPC?
The short answer is yes, you will need an EPC when buying and letting a commercial property. There are some nuances for landlords, but we can provide expert guidance on whether you’ll require an EPC or not.
What will my business rates be?
Business rates are based on the Rateable Value (RV) of your property and can be a significant operating cost. Small business rates relief is available for certain businesses and there are different multipliers depending on the RV of your property. You can find more information on the Government’s website (link) and you can consult our Business Rates team if you think that the RV may be incorrect or if you have an empty property.
We act for a range of owners in the pub sector, from individual free house operators to National pub groups. The pub market in the South West has been very active in the past 12 months with demand outstripping supply, particularly in the village free house market under £500,000.
We were instructed late last year to offer the Chagford Inn to the open market as it no longer formed part of our clients’ future plans. At the time the process was to seek all interest in the venue, which has had a good food reputation in the past, and to sell with vacant possession. The property was in good order and was being run by Ollie and Jordan Vernon, who had only just taken the reins prior to the first lockdown in March last year. The news of the sale came as a great disappointment to them as they had made the pub their home, had longer terms plans to be there and were about to have a baby together.
We were able to find a buyer for the pub who was willing to let the new landlords stay on.
This popular pub is being run by the incumbent landlords under new ownership, to the satisfaction of everyone.
Treworgie Barton (holiday complex)
We continue to see higher than average levels of interest in property and businesses in the South West as buyers relocate to Devon and Cornwall. Our Leisure team are handling the sales and lettings of pubs, hotels and holiday complexes across the region.
We were instructed to sell Treworgie Barton comprising a substantial Grade II 6 bedroom farmhouse and 10 holiday letting cottages which have been developed from a range of attractive single and two storey former agricultural barns. The 36.5 acre site is at the end of a no-through road and includes farmland, fields, woodland and a stream.
Our succesful marketing of this holiday complex generated a lot of interest, especially from people keen to build on the income potential at Treworgie Barton, including glamping.
Treworgie Barton is now being invested in and run by new owners who are developing further revenue streams and enhancing the natural beauty of the site.
The Team for Commercial Sales, Lettings & Acquisitions
Case studies for Commercial Sales, Lettings & Acquisitions
What Is Property Acquisition? Commercial property accounts for an estimated 13% of buildings in the United Kingdom. Commercial properties are constantly changing hands through the […]
Foliot House, Budshead Road at Crownhill is a 12,500 sq ft office building on a business park in a residential area. It was previously let […]
Vickery Holman are pleased to announce a recent office letting at Envoy House which yet again sees the popular building fully occupied. Located on Longbridge […]
Vickery Holman successfully tendered for this strategic review of college assets and were appointed by Cornwall College. Alan Treloar was lead contact with the College […]
Commercial property investment opportunities in Devon Active investors targeted Plymouth offices on the advice of Vickery Holman’s Investment Department. The commercial property investment market is […]
Vickery Holman have recently completed two offices to let at GA House which now sees the building fully occupied. Offices to let The prestigious office […]