Even under the current lockdown Stockport remains one of the region’s leading centres for property investment and we have acted on a significant number of deals in the last six weeks which is very encouraging to see.
Impey & Co has been Stockport’s leading independent property company for over 40 years and with so much investment and transformational plans ahead it is a really exciting time to be part of what is happening here in our home town.
We have seen a huge amount of occupier interest in one of our most prominent landmark buildings, The Pyramid, which is one of the first things you see as you approach Stockport by rail or road. Our clients Eamar Developments are committed to refurbishing the 86,000 sq ft commercial office building, turning it into much needed local Grade A office space towards the end of the year.
We are still seeing high demand for conversion of existing office stock to residential use under permitted development, which shows a strong level of confidence in the housing market in Stockport. Here in Stockport Eamar Developments are planning a conversion of the premises on Rock Row into a scheme of 10 commercial units plus 52 apartments, and again we have had a string level of interest in this opportunity.
Retail is going to be challenging moving forwards. I see a continued trend towards the food and beverage market, and even with social distancing measures which are going to be a factor, there is still plenty of interest from these types of users in viable schemes.
As well as emerging new developments in Stockport, it is also famous for its textile and cotton mills which make perfect redevelopment opportunities. Bringing back to life these historic buildings with a mix of residential and commercial uses is still in demand.
We are seeing good levels activity for industrial property and have completed sales of two small light industrial units of 3,614sq/ft and 3,172sq/ft in recent weeks. We have a number of industrial transactions with solicitors, are in active negotiations with landlords and proposed tenants and have new instructions which are generating interest and viewing enquiries. We expect that the industrial and distribution sector will remain resilient, especially as consumer behavior shifts even more towards e-commerce.
Based on Lower Hillgate, Impey & Co advises on all aspects of commercial and industrial property in Stockport and across South Manchester. Services include industrial and commercial property sales, lettings, rating appeals, valuations, acquisitions, management, rent reviews, lease renewals and dilapidation advice.
Expert Opinion from Johnathan Poole, surveyor at Impey & Co