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Chartered surveyor hails strong year
3:23pm Thursday 5th June 2014 in Business
A CHARTERED surveying firm, which is helping create a £10m North-East retail park, says it has enjoyed one of its most successful years.
Bradley Hall says turnover increased 35 per cent to more than £1.1m for the year to March 31.
Bosses revealed a significant rise in residential sales, with commercial property deals increasing due to healthy activity in the industrial, warehousing, office and retail markets.
It has also lifted the number of properties under its management by more than a quarter, with the value of its client rent roll standing at more than £5m.
The company, which has offices in Durham City, says a great deal of its success is down to opening a new office in Newcastle during the recession.
Earlier this year, Bradley Hall supported former market trader Andrew Ward in plans to create a major Durham City business hub that could lead to nearly 300 new jobs.
Mr Ward, managing director of corporate clothing maker Workwear Express, bought the former Kerry Foods factory, in Dragonville, near Durham City, to start the venture, which he hopes will include a car showroom and several trade units.
Neil Hart, Bradley Hall director, said: “We decided to invest at a time when the market had hit rock bottom.
“It was a big risk because back in 2010 people were saying that the market could take years to recover.
“But it has paid off.
“We are profitable, carry no debt and our revenues are almost back to where they were before the financial crash.
“We are going for more growth this year and have a healthy pipeline of work stretching forward well into 2014.
“After a difficult recession, it’s a good time to be in property again.”