NEWSbeat
INTERNATIONAL PROPERTY
We still seek la dolce vita
There is talk summer and yes, there were
that in Italy, fewer buyers, but the last
a longstanding quarter of 2009 saw sales and
favourite with interest returning, especially
British buyers, with Italy being considered
property prices a safer investment than many
could increase by 3-5 per cent other markets.”
in late spring. Linda Travella of Stephen Hughes, associate
Casa Travella, has been selling director at Foreign Currency
property in Italy since 1987, Direct says, “There are plenty
she tells PROPERTYdrum, of positives for those looking
“2009 started off very slowly to buy in Euros going into
in all regions but Italy suffered 2010 after a relatively stable
less than most and prices did second half of 2009. Even
not really start to drop in the though the UK appears to
first quarter unless clients have fallen behind other
were desperate to sell, where economies in the race out of
reductions of between 5-10 per recession, Sterling has held
RURAL MARKET
cent maximum were reflected pretty firm against the single
Equipped farm values rise at last
in both re-sale and new build currency.”
properties. Spring turned to www.casatravella.com
Smiths Gore report a rise – at Agency. “7,800 acres of
last – in farm values at the equipped farms were marketed
end of 2009. Dr Jason Beedell, in 37 sales, so an average of
SOFTWARE
Head of Research at Smiths 210 acres. This is lower activity
Reapit goodwill converts agents
Gore says, “The value of compared with the year before
equipped farms rose for the when 19,100 acres were Property agents often can imagine the level of goodwill
first time since summer 2008, marketed, in 62 sales at an ask “Which software we’ve got locked away in there.
increasing by 2 per cent in the average of 308 acres per sale.” company offers We must be doing something right
final quarter of 2009 to an “The farmland investment something extra, because 60 per cent of our current
average across England of market continues to improve,” something different?” A major property stock comes from our
£7,200 per acre. However, comments Gerald FitzGerald, PROPERTYdrum survey will shortly archive. It’s got to be a balance
values are still about 10 per Head of Property Investment get underway but when asking between doing a good job first
cent lower than a year ago.” and Valuations. “Our recent PROPERTYdrum readers, one topic time round, keeping records up
“Some of the increase in sale of the Coldred Estate came up quite regularly – to date and effectively
values is due to smaller farms exceeded our expectations. transferring information from a communicating our successes to
being marketed. Our database There remains strong demand current system to a new one. This them until they think of selling
of sales clearly shows that and a lack of stock. Currently ‘information’ is much more than again.” Russell Manning, MD,
smaller farms have higher we are on the search for facts and figures, it’s a whole raft Manning Stainton, handles around
values per acre, as the value investments both of secure of vital ‘goodwill’ wrapped up in 2,000 property sales at any one
of the house and buildings tenanted properties and diaries, data and documentation time; “When we changed systems
‘boosts’ the value per acre. estates as well as land with – and they don’t want to lose it. I was concerned about losing
Given this, careful lotting of long-term development hope. Roger Hall, Senior Associate at valuable data gathered from
farms is essential to maximise Yields remain low but investors Dacre Son and Hartley, says, “We applicants and vendors, we believe
their overall value”, said Giles are attracted by tax benefits have converted data from previous in retaining a client for life and a
Wordsworth, Head of Farm and potential uplifts in value.” systems back to the 1990s, so you big part of that is communication.”
COMMERICAL PROPERTY
Sweet deal for construction firm
Russells Construction has advised have been nuts not to be delighted
Propertydrum that after some with the deal which will see the
smooth negotiations it has firm relocate its peanut butter
secured a £1.5m design and build manufacturing operation from its
contract for jam, marmalade, 115 year old factory in Old Trafford
honey, peanut butter and to the Roundthorne Industrial our portfolio a piece of land which Success in this type of deal all
condiment manufacturer F Duerr Estate. The new unit will neighbour was ideal for a new manufacturing boils down to being proactive,
& Sons. The Trafford-based Duerr’s other existing plant on facility so we developed a scheme looking at the best mix of clients
contractor will construct a Floats Road. The move marks a and approached Duerrs with a and available land, to achieve
20,000sq ft peanut butter departure for Duerr’s which has design and build proposal. Our a sweet result. Russells has
manufacturing facility at Dallimore been based at the Prestage Street team worked very hard to ensure commenced work on site and the
Road in Wythenshawe for the site since 1894 following on from both the land deal and the project is due for completion
family firm. its beginnings in Fred and Mary construction project would allow by May 2010.
Andrew Russell, MD, Russells Duerr’s kitchen in 1881. Duerrs to continue its operations Our condiments to Russells
Construction, said that they would Andrew Russell said: “We had in and support the company’s plans.” Construction and to Duerrs...
PROPERTYdrum FEBRUARY 2010 11
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