The former Midas office premises in Newton Abbot have been acquired. Exeter Chamber members Vickery Holman, as joint agents with PACT Property & Assets, have just completed the freehold disposal of the former office premises of Midas on Silverhills Road, Newton Abbot for £1,000,000 (£116psf) to local business accountancy and tax firm, Marsland Nash Associates.
The property consists of a part vacant high specification office building with designated parking for 35 cars set within an attractive landscaped forecourt environment. There is approx.. 8,618 sq ft of office accommodation over the ground and first floors, with the benefit of a commercial lease to Blue Glue Ltd over the 4,137 sq ft first floor.
The property is notably one of the highest specification office buildings in the town and is strategically positioned as an ideal HQ to service Torbay and Teignbridge areas.
‘It was clear from the beginning of the marketing campaign that this class of asset was going to prove very popular in the market and we were not surprised when we were approached by multiple, mid-sized businesses to acquire the building for their own occupation, giving them room to expand into the first floor in the future.’ Said Zach Maiden, Commercial Agent at Vickery Holman. ‘The market remains strong for well positioned, high spec buildings and while demand is outstripping supply, the market values are holding up.’
Vickery Holman cover the South West and are specialists in commercial property.