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BUYING BUSINESS ACCOMMODATION
Page 47
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• Business accommodation in Cornwall does not command high prices, says Richard Goldring, partner at Camborne-based Goldring Yates. 'Costs are highest in Truro, the county town," he says. To buy here, a haulier would expect to pay £100,000 per acre. Compared to other parts of the UK, this is cheap: "Business accommodation in Bristol, for example, costs £500,000 per acre," Goldring adds.
Outside Truro, the costs are significantly lower. Across the rest of Cornwall, a haulier looking to set up a depot would pay £70,000 per acre.
Office rents also fluctuate. "The best office rents in Truro are around £13 per square foot," explains Goldring. "But town centre accommodation in the smaller towns can still be found for as little as £4 per square foot.
"There is a rising imbalance between supply and demand and only in Truro would developers take speculative risk on new office development."