Sales in commercial property have seen an increase in North Devon in the first three months of the year, according to property specialist JD Commercial.
The firm, which has specialised in leasing office and industrial units for over 13 years, has noted that there has been a distinct improvement in the sector within the region. Specifically, inquiries into office space are exceeding supply, whilst industrial units are particularly in high demand.
According to This is North Devon, James Doble, managing director of JD Commercial, said: "It was quieter across the board for everyone last year but 2013 started with more activity and I think this is a sign of people wanting to get on with things. There won't be any wild changes this year but there will certainly be an improvement compared to the last three to four years."
Mr Doble went on to argue that there should be more properties on the market because of the increasing number of potential buyers out there. Small firms want to grow organically, whilst larger corporations want better properties to base their business in.
One such property is Unit Four at Alverdiscott Road Industrial Estate in Bideford, which came onto the market a few months ago at £312,500. Spanning across 1.13 acres, investors are looking at such units as they are very good value-for-money. Large areas like this could even be split and rented across different leases.
The managing director added: "There is still a good market for local people looking to buy a business if they have been made redundant or people from out of the area wanting to mix work with a better quality of life in North Devon.”
Experts hope that these upwards trends will continue in Devon for the rest of the year.