Market conditions ideal for owner-occupiers

19/07/2012

Garness Jones has acted in the sale of premises to two businesses on behalf of a private investor.

Rascalz children’s play centre and City Electrical Factors (CEF), both in St Mark’s Street, Hull, have purchased their respective buildings.

Rascalz is well established as a children’s indoor play area and softplay centre and has been investing to improve facilities and the range of party packages on offer.

CEF is the country’s leading electrical wholesale network, having grown from one branch in 1951 to more than 400 now.

Dave Garness, Managing Director of Garness Jones, said: “At the moment conditions are ideal for businesses looking to buy their own buildings as a result of the relatively low interest rates coupled with the willingness of the banks to lend to owner occupying businesses as opposed to investors or developers.

“We advised the owner of these premises on the disposal of the assets and then approached the tenants to see if they wished to buy. In both cases they expressed an interest to become owner-occupiers.”