MOVERS & SHAKERS
ACQUISITIONS
OPENINGS
LAUNCHES
MERGERS
Heatons expand in Hot market The market for landlords seeking to rent to young professionals in north east England has never been more buoyant according to Newcastle upon Tyne based Heaton Property Ltd., which is set for expansion after moving to new offices in the Heaton area of Newcastle. Heaton Property Ltd MD Damiano Rea says, “The traditional reason that young professionals rent property during the early stages of their career is the need to save for a deposit on their first house or flat. But we are finding a growing number of tenants who have no intention of getting onto the housing ladder for the foreseeable future. By renting they can afford a larger, better appointed property with greater flexibility to move homes if their job requires relocation. “We are also seeing a trend for recent graduates from
north east Universities wanting to live and work in the north east. Recent figures from the Destination of Leavers from Higher Education (DLHE) indicate that over 94 per cent of graduates from Newcastle University in the summer of 2010 immediately found jobs, the figure is up 2.7 per cent on the previous year. Of these graduates almost 50 per cent go into employment in the north east.” “For landlords, young
professionals represent a viable return on investment since they are usually earning above average salaries and will expect to pay slightly more for a better appointed house or apartment. Purpose build student housing blocks have had a negative impact upon the buy to let sector but since lettings for young professionals are enjoying something of a boom, many landlords are shifting their focus to this sector of the market”.
L-R, Gareth Newby, Debbie Bull and Ben Walker. morgans’ new office
Morgans is investing £500,000 in a new North Leeds Rentals office in a prime location in central Headingley. The firm, which has been
successfully trading for 13 years in rented offices just across the road, will be moving to 75 Otley Road in Headingley early next year following a complete overhaul of the building. MD Jonathan Morgan says, “We are delighted to be investing in a new office in Headingley as it’s always been our ambition to own our own offices in such a prime location. It’s been five years of planning and preparation to get to this stage and we have all worked extremely hard to deliver a sympathetic renovation plan for the existing building.” The move follows a similar
Top, L to R, Zeno Rea, Natalie Myers and seated, Managing Director Damiano Rea, Ksenia Rea.
Buckell & Ballard joins davis tate
Davis Tate, one of Oxfordshire’s largest independent agents, has joined forces with one of the county’s oldest agencies, Buckell and Ballard, with the recent acquisition of its Abingdon Office. Already letting and
managing a wide portfolio of local property as Buckell and Ballard, the Davis Tate network will now also have a dynamic
and energetic sales department. Local agent Stewart Simpson, has invested into the business as Local Sales Director.
MD Matthew Davis says
’The combination of our established sales service and a very local Sales Director has proved to be an unbeatable proposition in many of our other locations. We are pleased to offer our very personal and
Stewart Simpson
dedicated sales and lettings service to Abingdon and the surrounding villages.” Stewart
says, “I am excited at the prospect of leading a well known Estate Agency name in my home town, and look
forward to meeting old friends. My local knowledge of the town, schools, catchment areas and recreational facilities mean that I can offer buyers a better service, and ensure that local homeowners are receiving a personal service. As a local director, I will truly be available by phone, mobile and email seven days a week, and I look forward to a long career in my home town.”
PROPERTYdrum AUGUST 2011 69
relocation of Morgans City Living office six years ago into 1 Dock Street in Leeds city centre. Jonathan adds, “We faced some opposition to our plans to transform the vacant bar and restaurant unit but when we explained the nature of the business and the vitality we believed we could bring to the
street-scene, we gained the support we needed. Our refurbishment of the listed building on Dock Street won us a British Council for Offices award and we are confident that we can create a building of similar quality in Headingley.”
Morgans currently employs 31
staff across its two offices with a team of three property professionals in North Leeds, consisting of Ben Walker, Gareth Newby and Debbie Bull, who will all move to the new office next year. Senior Rentals Negotiator Gareth Newby says, “It’s an exciting time for us and our client base. We have operated in the North Leeds area for over 13 years so thoroughly understand the market place and gain most of our clients from personal recommendations. We also offer a specialist service to property investors where we advise on purchases and manage the process. The firm is also actively involved in reverting vacant student houses to professional lettings and we believe that this will prove a strong growth area over the next 2 to 3 years.”
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