Penn Commercial's Managing Director, Vanessa Penn, gives her thoughts on 2024 to 'Business in East Anglia' magazine, and shares her insights on how the market is looking in 2025...
"Penn Commercial has seen a positive start to 2025, by being named third most active industrial agent in the East of England for the whole of 2024 in CoStar’s prestigious ‘Annual Awards 2025’.
"Notably, Penn Commercial worked with BGO and Equation Properties, alongside M1 Agency and JLL, to let over one million square feet of high-quality speculative-built warehousing space at Orwell Logistics Park – along the A14, towards the Port of Felixstowe – to Sizewell C in Summer 2024. This was the third largest logistics deal in the UK during 2024.
"Penn has expanded its team to a total of ten, based at Ipswich’s Fox’s Marina. Shaun Collins AssocRICS is responsible for Penn’s commercial agency and professional services provision to existing and new clients. Shaun has ten years’ experience in residential and commercial property, and was a partner at an Ipswich independent estate agency, before working as the Acquisition Surveyor and Portfolio Manager for National Car Parks.
"New Property Management Associate, Elliot Miller, is responsible for ensuring the smooth running of Penn’s managed estate, covering property inspections and viewings, and undertaking lease renewals and rent reviews.
"Penn Commercial has made a significant investment in the latest new Re-Leased software to improve its Property Management services and offer to Landlords and Tenants.
“We chose Re-Leased for their innovative approach and outstanding reputation in the industry. By automating routine tasks, such as rent collection and maintenance requests, we can minimise administrative burdens and reduce the time spent on manual data entry.”
"Penn has also launched a new 'virtual' Norfolk office, to further enhance its services and offering across the county.
"With the continued requirements for the Sizewell C project, Penn Commercial is well-placed to assist the supply chain in sourcing suitable premises, and is committed to expanding into new areas and creating new partnerships in 2025."