The new MHAMacIntyreHudson/Lloyds Bank survey of over 400 manufacturers has highlighted the fact that not being able to find the right premises to expand into is the number one barrier to growth for 15% of businesses. It is, perhaps, no surprise that Chown Commercial currently has more acquisition instructions than at any time since the boom years, pre-recession.
"The reason for this says Stephen Chown” is that although the number of properties available is increasing, there is little or no new stock and even existing stock is in short supply. I am not surprised to hear the results of the survey”. Since the beginning of 2015, Chown Commercial have completed on an average of a deal (a sale or a letting) a week.
It is interesting to see that 40% of those who said property is a barrier to growth identified 'funding new premises' as their main issue. Keith Willett of Lloyds Bank Manufacturing was involved in their ‘Future Manufacturing Event’ at the end of September and says that several of the 40 manufacturers there expressed concern at the lack of provision of suitable units in the Northampton area. Keith and Stephen have worked together in Northampton over many years and can offer a bespoke acquisition/funding package to the manufacturing sector, subject to status. Retaining your own surveyor leaves you free to concentrate on growing your core business and the surveyor will almost certainly pay for himself along the way, either in savings or in terms of quality advice to avoid costs in the future.
"The opportunity to approach a vendor with a retained client who’s funding is secure is an advantage which can only benefit the purchaser” says Stephen, concluding "especially when time is of the essence to both parties”.