The new owners of a Blackpool commercial estate agents said the firm has had its best sales year since the recession a decade ago.
Kays Estates, which was bought by Dave Nolan and Jonathan Derbyshire from previous owner Dave Brewell in February 2017, has just announced record sales figures.
Managing director Dave Nolan said: “The market for the sale of freehold and leasehold properties and businesses in Blackpool and the Fylde coast is definitely showing signs of recovery.”
Mr Nolan, who has been at Kays Estates since 1985, has seen many fluctuations in the Blackpool property market and is confident that a recovery is in place.
He said: “We are definitely seeing a return in confidence in the Blackpool commercial property space. Brexit has had no marked negative effect on sales. On the contrary, there is an increased focus on UK businesses.
“We have had a significant increase from overseas and investors outside the north west of England together with substantial investment from public and the private sector.”
In order to capitalise on this buoyancy, Kays has increased its marketing activity and has teamed up with Rightmove Commercial Property Sales.
The growth in sales revenue was supported by an investment strategy that saw the acquisition of Preston and Bedford Estate Agents and Surveyors, on Clifton Street, the growth of the Property Management and Residential Lettings Agency, and the establishment of an in-house property maintenance team.
Jonathan Derbyshire said: “Brexit and high prices are putting pressure on the south east, so investors are looking further afield and Blackpool offers much higher returns.”
He said typically, someone investing a nest-egg in Blackpool property would get a 10 per cent return compared to around three per cent in London and without the huge mortgage for expensive properties.
Jonathan, who is from Blackpool and returned after serving with the RAF Regiment in Afghanistan and other places said there was a synergy in his involvement in the business, which will celebrate its 80th anniversary later this year.
He said: It was set up by an ex-RAF man demobbed after the war, and I have come into this from the RAF too. We took over Preston and Bradford in the middle of last year as a signal of the confidence in the local market.”