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54 property


The personal touch is key to Romans' award win


Romans was awarded the South East Lettings Agency of the Year for the third time at The Lettings Agency of the Year Awards 2015, in association with The Sunday Times and The Times and sponsored by Zoopla Property Group.


The judges praised Romans on its personal touch and congratulated it on the excellent feedback it receives from landlords and tenants.


The winners of the most highly-regarded awards in the lettings industry were revealed at the ceremony in June at The Lancaster London Hotel. Awards were presented in front of over 550 leading letting agents from throughout the UK by six-time world champion and marathon ace, Paula Radcliffe MBE, with renowned journalist, author and newsreader Penny Smith acting as compere.


The judges commented: “Romans continues to impress. The Romans team displays great ethics and it is evident that they are never


From left: Paul Radcliffe MBE, Peter Fuller and Joel Osbourne from Romans, and Sam Platt from Zoopla Property Group


complacent when it comes to executing their tasks.”


Award winners were decided following a rigorous and thorough judging process by a panel of 20 industry experts overseen by The Property Ombudsman, Christopher Hamer, and David Cox, managing director designate of ARLA who acted as arbiter.


Details: romans.co.uk/landlords


Lettings success for Oaktree and Patrizia at Chineham Park


Oaktree Capital Management and Patrizia UK have completed a sequence of interlinked transactions at Chineham Park in Basingstoke to five occupiers, including three Fortune 500 companies, on space that totals 162,000 sq ft.


Existing occupier, Level 3 Communications, is relocating to the Redwood 3 building in the heart of the park where it has taken 43,000 sq ft over two floors. The global communications provider will occupy the space on a 15- year lease at a rent equating to £18 per sq ft.


Within the same building, Motorola Mobility has signed a new lease on 22,500 sq ft. The mobile device manufacturer has taken a seven-year lease with a five-year break at a rent of £17.50 per sq ft.


Level 3 Communications’ move from the Chineham Gate and Ashwood buildings has enabled another existing tenant, Exertis, to double the amount of space it occupies at Chineham Park. The growing technology distribution and specialist service provider will move into Ashwood and has agreed a rent of £18 per sq ft for the


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43,000 sq ft self-contained office building which it will occupy on a 15-year lease. Level 3 Communications has also agreed a reversionary lease on its 40,000 sq ft data centre at Oakwood, extending its commitment to December 2029 with breaks in 2024 and 2027.


At Central 40 building, medical technology and services company, Covidien, which was recently taken over by Medtronic in a $50 billion acquisition, has leased 7,000 sq ft.


It


will occupy the space on a seven-year term with break options at a rent of £22.68 per sq ft.


The last of the recent deals has been agreed with Abacus Insurance, which has signed up to lease the 100 Cedarwood building in its entirety. The insurer has taken the 6,500 sq ft office building on a 10-year lease with a five- year break at a rent of £16.75 per sq ft.


This spate of deals is reflective of their vision for Hampshire’s key out-of-town business location. As part of Oaktree and Patrizia’s continued investment plan for the park, work will begin in September on the comprehensive


refurbishment of Chineham Gate and Elmwood One which will deliver further Grade A space of 45,000 sq ft and 18,000 sq ft respectively.


Oaktree and Patrizia acquired the 95-acre business park in October 2014 as part of an MEPC portfolio which also included Birchwood Park in Warrington and Hillingdon Park in Glasgow. Additionally, the joint venture owns Winnersh Triangle in Reading and a majority share of Watchmoor Park, Camberley.


Strutt & Parker and Hollis Hockley are the letting agents at the park and acted on behalf of Oaktree and Patrizia. CBRE represented Level 3 and Motorola; Colliers acted on behalf of Covidien; while Exertis and Abacus Insurance were unrepresented.


THE BUSINESS MAGAZINE – THAMES VALLEY – JULY/AUGUST 2015


Bannisters becomes Bicester's leading lettings agency


Bannisters is now the leading property lettings agency in Bicester following a merger with Tobin Jones.


In announcing the merger, managing director George Thomas said: “This is an important step in the growth of the company. Bicester is the fastest-growing market town in Europe and this merger fits well with our plan to make Bannisters the leading lettings agency in the town. Both companies have served Bicester for over 25 years and share the desire to offer landlords and tenants the best possible service. With the larger business we will have greater resources to let and manage our landlords’ properties while ensuring we keep abreast of the constantly-evolving regulations and legislation.”


The merger creates the largest dedicated lettings agency in Bicester, both in terms of the highest number of lettings and management of a portfolio of over 800 properties. Bannisters will also have the highest number of Association of Residential Letting Agents (ARLA) accredited staff, which will consolidate its position as leader in the field.


Bannisters also recently announced a merger with Sure Move, which traded as Christopher Pallet Lettings (Aylesbury), which puts it in a dominant position in Aylesbury and Buckinghamshire.


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