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Commercial land prices continue to increase
VACANT commercial sites are selling at up to 20 per cent above the asking price in South Yorkshire - despite increased interest rates.
Commercial estate agents Merryweathers says small plots of brownfield land - commonly derelict former industrial sites - around the county are particularly valuable, due to a shortage of sites
Neil Keally, associate partner at the company, said: "We have sold a couple of plots of land recently in record time. Small sites, like one we sold at Harrison Street in Rotherham recently, are commanding a premium - simply because there aren't many around at the moment.
"Many local businesses too are recognising what a valuable asset land is and are seeing it as a solid investment."
Mr Keally, whose firm is based in Rotherham, said sites are fetching the highest values when they are close to major transport links such as the M1.
He added: "Location is still the major influencing factor and this particular plot will prove a sound investment for the purchaser.
South Yorkshire is certainly close to the top in terms of land values in the north of England and, with the shortage of supply, this looks set to continue."
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Saturday 26 May 2012
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