| news in brief
Property consultancy Glenny’s Databook has found industrial space demand across their region belies Brexit fears, rising by 26% to 14.9m sq.ft. In addition, Industrial take up in Essex set to hit trend levels of activity for the third successive year. Office rents in the region have continued to accelerate due to strong demand and stock shortages, while demand for less space pushes North London and Hertfordshire requirements to a seven-year high. John Bell, Glenny Managing Partner, said: “The business world appears to be driving through this uncertain period and responding with increased demand and record levels of take-up in certain areas.”
Cushman & Wakefield has been appointed as sole agents of a 151,000 sq.ft distribution facility in Cheshire. The Cube is a purpose built, high bay distribution facility situated in Preston Brook. The warehouse, which was constructed in the late 90’s is arranged across two interconnecting separate bays the highest of which incorporates 28 metre eaves, on a site which provides 360 degree circulation and 50m deep yards.
As cyber criminals become more sophisticated and attacks become more damaging, businesses are seeking government-approved Cyber Essentials Plus badges to help protect their organisation. In the past 12 months, 875,000 small and medium-sized businesses have been targeted by cyber-criminals, costing a fifth of affected organisations over £10,000 in damages.
Addison Lee Group, the international premium car service company, is to move into new London headquarters as it pursues a global growth strategy. The transport firm is to relocate to The Point in the rapidly developing Paddington Basin district in central London – Addison Lee’s third multi-million UK property investment in the last 12 months.
Leeds property developer, Parklane Properties, is targeting growth across its core brands after agreeing a £40.8m finance package with Royal Bank of Scotland. The funding will assist the group of companies, which includes Roomzzz aparthotels and IconInc luxury student accommodation, to strengthen and implement future expansion plans.
Lovell appoints new build manager to head up Midlands developments. Having recently stepped into his exciting new role as a building and contracts manager in the Midlands region, Matt Cadwallader is committed to ensuring that Lovell’s developments are among the tidiest in the country.
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Syzygy advised and acted as project manager to LondonMetric on the 1MW solar PV installation at its 726,000 sq.ft distribution warehouse let to Dixons Carphone on Newlink Business Park, Newark. The solar installation was completed in September 2017 and covers 66,000 sq.ft. The installation at Newark is expected to reduce Dixons Carphone’s annual grid energy consumption at the warehouse by 15%.
The highly-anticipated second edition of industry go-to report Branded Residences: An Overview, highlights trends in the market and new data on market growth. The 40-page report highlights a number of key findings including a 27% increase of branded residences over the last two years, and the majority shift from resort to urban residences.
After an uncertain summer the commercial property market is showing good signs of recovery in Northamptonshire with deals completing and demand increasing across the board. Demand for freehold offices remains strong which is demonstrated by the recent sale by Berrys of the modern office block at 28 Ashby Road, Towcester which achieved a strong sale price off- market.
The sensor in a CO alarm has a limited life and degrades with time due to the effect of everyday household particles such as cigarette smoke, cooking fumes and dust. Pressing the ‘test’ button only tests the battery and not the actual CO sensor, unlike your fire alarm which can be fairly easily tested by burning some toast! The only way to know if your CO alarm is picking up the deadly gas is to ensure it is properly tested with the correct product such as Detectagas®. An easy and cost effective test which takes just 2-3 minutes yet can save lives.
Philips Lighting recently announced the launch of its new wireless connected office lighting system, InterAct Office. With lighting consuming 15% of the global electricity supply[3], and public and commercial buildings consuming 60% of global lighting-based electricity3, the system enables building managers to reduce energy use on lighting in offices by up to a massive 70%.
Wired Certification has officially launched in Toronto amid a radical digital transformation in a city recognized as the “Silicon Valley of the North” and a time when 99% of the GTA’s office workers said access to reliable internet is critical in a recent survey on the current state of Digital Connectivity in Toronto.
Social enterprise Re:Work is relocating to new premises more than three times the size of its previous space, as the company prepares for another year of projected growth. What began as the seed of an idea from local charity worker Caroline Wheritt back in 2007, was soon transformed into a fully-fledged not-for-profit business venture, and in 2008 Re:Work began trading as an office furniture reuse and recycling specialist.
Manish Patel has joined Birketts as a Senior Associate in its highly regarded Commercial Property Team. The move sees Manish working alongside more than a hundred property specialists in one of the largest and most successful property practices outside London. Manish has over 10 years’ experience in both residential and commercial conveyancing.
The majority of SME owners in the property and construction sector report that the rules of doing business have changed, but are they ready for the challenges that lie ahead? Research by accountancy firm, Menzies LLP, reveals that while business owners in the sector are ready, some could be working too hard or failing to seek the mentoring and specialist support needed to succeed in turbulent times.
Law firm Boodle Hatfield has strengthened its Property team with the appointment of Property Partner Dennis Ko. Dennis joined the firm on 25th September 2017 from global law firm Kennedys. Dennis brings to Boodle Hatfield considerable expertise and a strong track record across a broad range of property transactions and sectors including office, retail, industrial and residential development.
The appointment of two leading workplace industry experts, Steve Baldock and Alistair Buchanan, has further strengthened the Landlord and Detail and Build teams of Area, one of the UK’s largest workplace design and fit-out specialists. On July 3rd, 2017 Fourfront Group merged two of its companies, Area Sq and Cube, to create Area. The move stems from an 80% increase in Group turnover over the last three years.
The commercial property market in Northamptonshire has strengthened in recent months according to Duncan Batty, a commercial property agent at Berrys. Berrys recently sold a modern office block at 28 Ashby Road, Towcester,
Northamptonshire which achieved a strong price off-market. The property is now available to rent.
COMMERCIAL PROPERTY MONTHLY 2017
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