Alder King Property Consultants https://www.alderking.com Wed, 05 Aug 2020 16:11:20 +0000 en-GB hourly 1 Planning permission secured for canal-side development on Silverthorne Lane, Bristol https://www.alderking.com/planning-permission-secured-for-canal-side-development-on-silverthorne-lane-bristol/ https://www.alderking.com/planning-permission-secured-for-canal-side-development-on-silverthorne-lane-bristol/#respond Wed, 05 Aug 2020 15:44:14 +0000 https://www.alderking.com/?p=6715 Alder King Planning Consultants have secured a resolution to grant planning permission at virtual committee today for the comprehensive regeneration of the Silverthorne Lane site […]

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Alder King Planning Consultants have secured a resolution to grant planning permission at virtual committee today for the comprehensive regeneration of the Silverthorne Lane site in Bristol.

The planning application proposes a comprehensive masterplan to regenerate the 4.2 hectare former industrial site, delivering a canal-side community in the heart of  the city’s Temple Quarter Enterprise Zone.

The proposals include:

  • Oasis Academy Temple Quarter – An urgently-needed new 1,600 place secondary school and sixth form funded by the Department for Education to address a shortage of secondary places in central and east Bristol
  • Office, research and learning space delivered by the University of Bristol
  • 371 new homes, including affordable housing, delivered by award-winning Bristol developer Studio Hive in partnership with Atlas Land
  • Commercial employment space delivered by Studio Hive/Atlas Land, including the restoration of a derelict Grade II listed building
  • Purpose-built student accommodation providing 690 student beds
  • New cycle and pedestrian links within areas of landscaped public open space

This will include a new canal-side walk, public space and active frontages, opening up the canal-side to the public for the first time in generations.

  • A 300% increase in trees and soft landscaping than is currently on site
  • The restoration of listed historic buildings, making them publicly accessible for the first time in years
  • Active frontages which include cafes, restaurants and shops will bring vibrancy to the currently derelict site

The development has been informed by the policies of the Bristol Central Area Plan, which seeks to regenerate Silverthorne Lane and the wider Temple Quarter Enterprise Zone with a mix of uses including residential, office and leisure.  Careful regard has also been given to the Bristol Temple Quarter Spatial Framework, which suggests a design approach for new development coming forward in the area.

Despite the complexities of the site, Alder King and the design team has worked successfully with Bristol City Council and a number of other key stakeholders including the Environment Agency to overcome the issues and produce proposals that have the support of the community.

Simon Fitton, head of planning at Alder King, commented: “This is a hugely exciting and important regeneration project for Bristol that has produced a great result for Square Bay and its development partners.

“The mix of uses proposed will put the development at the heart of the community, giving this site with a remarkable history a new future.

“It now creates the context for other sites on “Silverthorne Island” to come forward and deliver genuine change to this part of the city.”

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Commercial property market shows early signs of recovery https://www.alderking.com/commercial-property-market-shows-early-signs-of-recovery/ https://www.alderking.com/commercial-property-market-shows-early-signs-of-recovery/#respond Thu, 30 Jul 2020 09:56:52 +0000 https://www.alderking.com/?p=6682 The region’s commercial property market is showing encouraging signs of recovery following the relaxation of the lockdown, says property consultancy Alder King in its latest […]

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The region’s commercial property market is showing encouraging signs of recovery following the relaxation of the lockdown, says property consultancy Alder King in its latest market report published today.

Market Monitor Update 2020, which reviews the state of the industrial, office, retail, investment and land markets, shows the sector was enjoying a very positive start to 2020 when the coronavirus pandemic and subsequent lockdown hit the UK at the end of March.  Transactional activity was immediately impacted, with the majority of uncompleted transactions put on hold.

Since early May, some but not all sectors of the market have seen renewed activity. A number of paused transactions have been reactivated and the volume of enquiries and viewings is increasing.  Some high profile transactions have completed since lockdown, confirming an underlying confidence in the region’s property market.

The industrial and logistics market is the strongest performing sector of the market, both before and since lockdown.  Bristol and Gloucester in particular saw strong take-up, with Greater Bristol recording over 620,000 sq ft at the half year point, broadly in line with last year’s H1 figure of 660,000 sq ft.  This was driven particularly by demand from e-commerce operators, the NHS and its suppliers and logistics operators looking for short-term swing space to service existing contracts.

The office sector is also seeing increasing activity.  Take-up in Bristol city centre in the first quarter of the year reached 220,000 sq ft, the best Q1 figure for over a decade, and while take-up dropped significantly across the region in Q2, activity levels including enquiries and viewings grew steadily through May and June.  Rental levels on recently agreed deals remain at pre-Covid levels and some developers on new space are suggesting that they will be on site by the end of the year.

The region’s investment market also delivered some notable transactions in H1, notably Tesco Pension Investment’s acquisition of Halo in Bristol for £70 million.  This transaction which completed in June demonstrates solid investor confidence in the Bristol office market.  With limited future supply and low vacancy levels, Alder King says the benefits of real estate will continue to attract long-term investors, with well-capitalised investors able to secure attractively-priced assets as liquidity levels improve.

As has been well-reported, the lockdown has exacerbated difficulties in the non-essential retail sector and more CVAs are unfortunately expected as the year progresses.  Landlords will need to consider more flexible terms including turnover rents or a cheaper overall model to attract occupiers. As a direct result of the pandemic, there has been growing interest from independent and local retailers, as well as community groups and pop-up operators which could help bring greater variety and vitality to our high streets and retail centres.

While there have been positive reports about house sales activity and values, this has not yet translated into a resumption in activity in the development land market.  Interest in sites, particularly sub-100 unit sites, is strong but offers are conditional on planning consent and in many cases deferred payment terms.  The market for promotion agreements has been least affected by the downturn, with promoters keen to agree terms with landowners on sites of 20 units up.

Simon Price, senior partner at Alder King, said: “We are fortunate that the regions in which we operate enjoy diverse and resilient economies.  Following a strong start to the year which left some markets with very restricted supply, we are hopeful of a sustained recovery, albeit with a few bumps and false starts along the way.

“Of course, the ‘new normal’ presents challenges for us all.  Our property management, building consultancy, lease advisory and asset recovery teams, with their depth of specialist experience, are helping clients deliver safe working environments, navigate the emerging legislation and policy frameworks and negotiate successful compromises between competing economic pressures.  Our teams have adapted well to the challenges of recent months and are fully engaged supporting clients.”

Market Monitor Update reviews the performance of the industrial, office, retail, investment and land markets across the South West of England and South Wales and looks at the prospects for the sector’s continued recovery.

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St Modwen attracts major automotive manufacturer to key industrial and logistics site in Avonmouth https://www.alderking.com/st-modwen-attracts-major-automotive-manufacturer-to-key-industrial-and-logistics-site-in-avonmouth/ https://www.alderking.com/st-modwen-attracts-major-automotive-manufacturer-to-key-industrial-and-logistics-site-in-avonmouth/#respond Wed, 22 Jul 2020 15:45:23 +0000 https://www.alderking.com/?p=6668 St. Modwen has completed a deal to bring French car manufacturer, Peugeot, to its popular £260 million industrial and logistics scheme in Avonmouth. Occupying a […]

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St. Modwen has completed a deal to bring French car manufacturer, Peugeot, to its popular £260 million industrial and logistics scheme in Avonmouth.

Occupying a 44,640 sq ft unit on a 10-year lease, Peugeot will operate a warehouse distribution facility from St. Modwen Park Access 18 Avonmouth.

Peugeot is one of five automotive brands owned by Groupe PSA – the second largest car manufacturer in Europe – operating across 160 countries globally with 16 production sites.

Sitting adjacent to Junction 18 of the M5, the site is a stone’s throw from Avonmouth Docks and is located within a four-hour drive of nearly 80% of the UK’s population.

More than 1m sq ft of warehouse and industrial space has been delivered at St. Modwen Park Access 18 to-date, accommodating 16 businesses, including Ocado Retail, Hermes Parcelnet Ltd, Nisbets PLC, and leading healthcare distributor Movianto. Once complete, the development is expected to create more than 2,200 jobs. Mature site landscaping and water features provide an established environment for staff to work and relax on site. Cycle paths and footways link to nearby residential areas and staff facilities with a First Bus service running adjacent to site along Kings Weston Lane.

Peter Davies, Development Director at St. Modwen Industrial & Logistics, said:

“Peugeot’s requirement for high-quality, well-located and flexible space meant St. Modwen Park Access 18 was a natural choice for its business. The site has attracted some major players in the industrial and logistics sector and Access 18’s proximity to Junction 18 of the M5 has proven appealing. Occupiers are impressed by the variety of sized units we’re able to offer and the latest deal with Peugeot is testament to this.”

Joint agents for the scheme are Andrew Ridler of Alder King and Russell Crofts of Knight Frank. Andrew added:

“We are pleased to have secured such a high-calibre tenant at St. Modwen Park Access 18 and expect to see similar occupiers follow suit due to the confidence we have in the industrial and logistics market in the area.”

The site is home to the South West’s largest speculative industrial and logistics unit and forms part of St. Modwen’s largest-ever committed industrial and logistics pipeline, standing at 1.6m sq ft nationally. The site also contributes to St. Modwen’s longer-term pipeline of over 15m sq ft – one of the biggest in the UK.

Gloucester-based Barnwood Construction were the appointed contractors for unit 18 and also delivered units 19 & 20 in phase 5.

For more information, visit: stmodwenlogistics.co.uk/property/st-modwen-park-access-18-avonmouth

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Resolution to grant planning permission at the Oliver Buildings, Barnstaple https://www.alderking.com/resolution-to-grant-planning-permission-at-the-oliver-buildings-barnstaple/ https://www.alderking.com/resolution-to-grant-planning-permission-at-the-oliver-buildings-barnstaple/#respond Wed, 11 Mar 2020 12:25:16 +0000 https://www.alderking.com/?p=6545 Alder King Planning Consultants have secured a resolution to grant planning permission at committee today for the redevelopment of the Oliver Buildings site in Barnstaple. […]

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Alder King Planning Consultants have secured a resolution to grant planning permission at committee today for the redevelopment of the Oliver Buildings site in Barnstaple. Planning permission and listed building consent will be issued in the coming days.

The scheme allows for the redevelopment of the Grade II listed Oliver Buildings which have stood derelict in Barnstaple town centre for a number of years. The proposals include 47 apartments and 1,186 sq m of retail and commercial space as well as associated landscaping and public realm works.

Despite the complexities of the site, Alder King and the design team at LHC successfully worked with North Devon Council and Historic England to produce the proposal that has the support of stakeholders and will preserve and enhance this important historic building for Barnstaple.

Portia Banwell, senior planner at Alder King, commented: “This is a really exciting project that has produced a great result for Acorn Blue and the community of Barnstaple, giving this site with a remarkable history a new future.”

The Oliver Buildings are the remaining components of a complex of buildings which formed the Shapland & Petter furniture factory. The factory was constructed from 1888 onwards following a fire at their previous works in March 1888. They were designed by local architect William Clement Oliver (1832-1913) whose work can be seen in a number of other locations within Barnstaple, including Brannam’s Pottery and Christ Church on Bear Street.

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A 19 year winning streak – a unique achievement https://www.alderking.com/19-years-weve-done-it-again/ https://www.alderking.com/19-years-weve-done-it-again/#respond Mon, 02 Mar 2020 16:26:34 +0000 https://www.alderking.com/?p=6521 Alder King has retained its title as the South West’s Most Active Agent for the 19th consecutive year.  It also repeated last year’s success by […]

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Alder King has retained its title as the South West’s Most Active Agent for the 19th consecutive year.  It also repeated last year’s success by coming top in the rankings in both the office and industrial categories.

The annual deals competition is run by leading property publication Estates Gazette which commented: “Perhaps the safest bet in this entire competition is for Alder King to finish top in the South West and so it has proved once more after it maintained its office and industrial titles.”

The rankings present a comprehensive breakdown of 2019’s full year transaction volumes across all areas of the UK and across all major use types.

Senior partner Simon Price said: “A 19 year winning streak in this competition is a feat unmatched by any other firm in the UK and something we are extremely proud of.

“Once again our thanks go to all our clients who entrust us to handle their property requirements and to all our teams for the property intelligence and quality of advice and service that they provide to clients.”

 

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Work underway on new Highbridge business park https://www.alderking.com/work-underway-on-new-highbridge-business-park/ https://www.alderking.com/work-underway-on-new-highbridge-business-park/#respond Tue, 25 Feb 2020 10:17:12 +0000 https://www.alderking.com/?p=6474 Developers KMW Trading Limited have commenced infrastructure works on a new 14.6 acre business park in Highbridge, Somerset, bringing forward serviced employment land and new […]

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Developers KMW Trading Limited have commenced infrastructure works on a new 14.6 acre business park in Highbridge, Somerset, bringing forward serviced employment land and new design & build opportunities for businesses seeking industrial and logistics space along the M5 corridor.

Oak Tree Business Park offers roadside plots fronting the A38 Bristol Road with land to the rear with consent for B1, B2 and B8 uses.

Property consultants Alder King are agents on the new scheme along with Greenslade Taylor Hunt and say discussions are already underway with a number of businesses interested in the opportunities presented by the business park.

Alder King partner Andrew Maynard said: “There has been a very positive start to this new development site.  Work on the estate roads began before Christmas and the site is now ready to deliver a range of new buildings to a client’s specific brief.

“As a result of the early interest we are now considering building a small terraced light industrial scheme on one of the plots.  This will provide a number of starter units of 728 sq ft up to 3,495 sq ft and will be available on a freehold or leasehold basis.”

Oak Tree Business Park is well-located just half a mile south of Junction 22 of the M5.  This part of Highbridge has seen a number of new developments recently including a new Aldi foodstore and Travelodge hotel and is close to the nearby Isleport Business Park.

More information about Oak Tree Business Park is available via www.alderking.com. and www.gth.net.

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St Monica Trust acquires brownfield site for extension to Chocolate Quarter https://www.alderking.com/st-monica-trust-acquires-brownfield-site-for-extension-to-chocolate-quarter/ https://www.alderking.com/st-monica-trust-acquires-brownfield-site-for-extension-to-chocolate-quarter/#respond Mon, 24 Feb 2020 16:26:08 +0000 https://www.alderking.com/?p=6467 The St Monica Trust, advised by Alder King, has acquired a 0.5 acre brownfield site at Somerdale in Keynsham for an extension to its Chocolate […]

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The St Monica Trust, advised by Alder King, has acquired a 0.5 acre brownfield site at Somerdale in Keynsham for an extension to its Chocolate Quarter retirement village.  The site was acquired from Taylor Wimpey for an undisclosed sum.

Alder King’s planning team and KWL Architects have now been retained to secure planning permission for a scheme of approximately 36 retirement apartments.

The team has already conducted extensive pre-application consultations with Bath & North East Somerset Council to inform the planning application which will be submitted later this year.

Ben St Quintin, partner at Alder King, said: “The St Monica Trust has created a unique and hugely successful mixed use development at The Chocolate Quarter, with assisted living apartments, a care home and an impressive range of retail and leisure facilities which are open to the local community and wider public.

“This off-market transaction now provides the Trust with the scope to expand its retirement living provision and we look forward to playing our part in bringing forward this latest phase.”

The site is on Trajectus Way situated between The Chocolate Quarter and the Somerdale Pavilion.

Womble Bond Dickinson provided legal advice to The St Monica Trust.

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Alder King appoints Josh Bryant to its lease advisory team https://www.alderking.com/alder-king-appoints-josh-bryant-to-its-lease-advisory-team/ https://www.alderking.com/alder-king-appoints-josh-bryant-to-its-lease-advisory-team/#respond Wed, 12 Feb 2020 12:47:55 +0000 https://www.alderking.com/?p=6447 Leading South West property consultancy Alder King has appointed Josh Bryant as a senior surveyor in its lease advisory team in Bristol. Josh has joined […]

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Leading South West property consultancy Alder King has appointed Josh Bryant as a senior surveyor in its lease advisory team in Bristol.

Josh has joined the firm after four years with Lambert Smith Hampton in Bristol where he advised local, regional and national clients across the South West on all aspects of commercial leasing.

Josh will work alongside partner Andrew Watson who leads Alder King’s lease advisory team.

He said: “Josh joins us at a time of increasing demand for lease advisory services and is a great addition to the team, bringing sound relevant experience and enthusiasm to the role.  He will be advising our landlord and tenant clients on rent reviews, lease renewals and lease re-gears across a broad range of commercial property types.”

Josh added: “Alder King is well-known as the region’s leading property consultancy, not just for its high profile role in brokering property deals, but also for its advisory services including lease advisory and valuation.  I’m very pleased to be progressing my career with such a well-established and respected firm.”

Every year Alder King’s lease advisory team supports hundreds of clients across the UK with their lease negotiations, using sound technical expertise and detailed local knowledge to secure the optimal outcome.  For more information about Alder King’s lease advisory service, visit alderking.com.

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Bristol bakery Cakesmiths expand into adjacent units https://www.alderking.com/bristol-bakery-cakesmiths-expand-into-adjacent-units/ https://www.alderking.com/bristol-bakery-cakesmiths-expand-into-adjacent-units/#respond Mon, 10 Feb 2020 10:45:52 +0000 https://www.alderking.com/?p=6439 Property consultants Alder King have re-assigned the lease on two warehouse units on Kingsland Trading Estate in Bristol on behalf of catering equipment hire company […]

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Property consultants Alder King have re-assigned the lease on two warehouse units on Kingsland Trading Estate in Bristol on behalf of catering equipment hire company Jongor.

 

The leases on Units B7 and B8 have been taken by Cakesmiths which operates a bakery from the adjoining unit and required expansion space.

 

The two units are located opposite Jongor’s head office and were used for storage.  However after securing more conveniently located storage space next door, the units became surplus to requirements and Alder King was appointed to find new occupiers.

 

Emma Smith of Alder King’s industrial agency team said: “These units in Bristol’s traditional industrial heartland are always in strong demand and we were able to quickly identify Cakesmiths as a replacement occupier and finalise the assignment of both leases.”

 

The units form part of a terrace of warehouse premises and provide a combined 13,110 sq ft of space and a secure yard to the front.  Both leases expire in March 2022.

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Alder King advises Rowe Group on new Gloucester Costa drive-thru https://www.alderking.com/alder-king-advises-rowe-group-on-new-gloucester-costa-drive-thru/ https://www.alderking.com/alder-king-advises-rowe-group-on-new-gloucester-costa-drive-thru/#respond Wed, 05 Feb 2020 11:50:46 +0000 https://www.alderking.com/?p=6430 Acting on behalf of retained client The Rowe Group, Alder King’s investment team has advised on the forward funding of a new Costa drive-thru in […]

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Acting on behalf of retained client The Rowe Group, Alder King’s investment team has advised on the forward funding of a new Costa drive-thru in Hardwicke, Gloucester for £1.5 million, reflecting a net initial yield of 5.25%.

The 1,800 sq ft property was pre-let to Costa Ltd on a new 15 year lease at £80,000 per annum, subject to five yearly RPI linked rent reviews.

Alder King’s building consultancy team provided development monitoring during construction.  The firm’s property management team has now taken on the management of the property.

Alder King is exclusively retained by The Rowe Group to provide a comprehensive range of property services.  Oli Stretton, partner in the firm’s investment team, commented: “On behalf of The Rowe Group, we are seeking to identify and secure further investment opportunities, in particular those offering secure long-dated income, and have cash funds readily available.”

The developer Loc8 Group was advised by Savills in Bristol.

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Alder King advises on solar investment purchase from Harworth Group https://www.alderking.com/alder-king-advises-on-solar-investment-purchase-from-harworth-group/ https://www.alderking.com/alder-king-advises-on-solar-investment-purchase-from-harworth-group/#respond Tue, 28 Jan 2020 11:45:11 +0000 https://www.alderking.com/?p=6401 Alder King, acting on behalf of leading solar company LightsourceBP, has advised on the acquisition of a portfolio of solar farms in Yorkshire, Nottinghamshire and […]

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Alder King, acting on behalf of leading solar company LightsourceBP, has advised on the acquisition of a portfolio of solar farms in Yorkshire, Nottinghamshire and Derbyshire for a total price of £5 million, representing a net initial yield of 4.61%.

The portfolio of seven sites, totalling 251 acres, was sold by the Harworth Group plc as part of its strategy to recycle capital into new assets.  Each of the sites were former colliery sites which have been brought back into economic use, whilst making a significant contribution to the production of renewable energy.

This latest acquisition brings LightsourceBP’s investment portfolio to more than 35 individual assets with a total value of over £30 million.

Alder King’s energy team is exclusively retained by LightsourceBP to identify and secure opportunities for its specialist renewable energy portfolio.  The Bristol-headquartered firm is now seeking further property investments created by the grant of leases to renewable energy projects including wind turbines, anaerobic digestion and battery storage.

Simon Smith, partner at Alder King, said: “This acquisition is a demonstration of the highly refined purchase model developed by LightsourceBP, offering landlords the very best value for money in a specialist market.  We are proud to be associated with this transaction.”

Alder King’s energy team offers a range of specialist services including site identification, site acquisition, valuation, project management and rating advice.

The Harworth Group was advised by Savills in York.

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Exeter’s largest available warehouse ready to rent following refurbishment https://www.alderking.com/exeters-largest-available-warehouse-ready-to-rent-following-refurbishment/ https://www.alderking.com/exeters-largest-available-warehouse-ready-to-rent-following-refurbishment/#respond Mon, 27 Jan 2020 15:17:47 +0000 https://www.alderking.com/?p=6405 Staunton Property’s newly-refurbished warehouse building Kestrel GTX on Sowton Industrial Estate in Exeter is now on the market through property agents Alder King and JLL. […]

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Staunton Property’s newly-refurbished warehouse building Kestrel GTX on Sowton Industrial Estate in Exeter is now on the market through property agents Alder King and JLL.

The 45,318 sq ft (4,216 sq m) building is located on Kestrel Way, one of the main routes through Sowton Industrial Estate, and adjacent to the M5 motorway, offering easy access to Junctions 29 and 30.

The interior and exterior of the property was extensively refurbished and now offers a very high quality environment.  It is now available to lease at a rent 25% below that of a comparable new build.

Noel Stevens, partner at Alder King, commented: “With construction cost inflation having heavily impacted on the cost of new build premises, newly refurbished space like Kestrel GTX offers occupiers high quality space and real value for money.”

Tim Western of JLL added: “Kestrel GTX is the largest vacant warehouse ready to go in Exeter and will suit a variety of warehouse and industrial occupiers. We’re expecting strong interest as the market picks up in 2020.”

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Commercial property market delivers another year of robust take-up and record rental growth https://www.alderking.com/commercial-property-market-delivers-another-year-of-robust-take-up-and-record-rental-growth-2/ https://www.alderking.com/commercial-property-market-delivers-another-year-of-robust-take-up-and-record-rental-growth-2/#respond Thu, 23 Jan 2020 17:09:48 +0000 https://www.alderking.com/?p=6395 The South West commercial property market defied ongoing uncertainty last year to deliver another strong performance across the business space arena. Property consultancy Alder King, […]

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The South West commercial property market defied ongoing uncertainty last year to deliver another strong performance across the business space arena.

Property consultancy Alder King, in its latest market report launched today, said occupier demand for office and industrial space and developer demand for land remained robust, with many businesses looking beyond short term challenges and pressing ahead with their plans for growth.

Industrial take-up across the region was buoyant at 4.2 million sq ft, an increase of circa 8.5% on the same period last year, boosted in particular by some significant transactions in Bristol, Gloucester, Newport, Plymouth and Swindon.  However take-up was held back due to the lack of good quality, immediately available supply and the continuing loss of consented sites to alternative uses.

Office take-up reached 1.74 million sq ft, broadly in line with the five year average.  The Bristol office market performed particularly strongly, recording circa 940,000 sq ft of take-up, with AXA’s 200,000 sq ft pre-let at Assembly being the stand-out deal of the year.

2019 saw stock levels boosted by the completion of a number of speculative office and industrial schemes, but much of this development pipeline has already been taken up by ‘early raiders’.

Further speculative development will commence this year in several centres including Bristol, Exeter, Gloucester, Bath, Bridgwater, Plymouth and Swindon. However speculative development takes time to deliver and so in the short to medium term, the market remains constrained by a lack of supply, driving up rents and capital values.

A number of locations saw new headline rentals set in the industrial market in Bristol, Bath, Swindon and Taunton. Office rental levels also increased in Bristol, Plymouth and Taunton and further upward pressure in both sectors can be expected this year.

A lack of opportunity dampened activity in the region’s investment market but there were some notable transactions and it continues to be a very attractive market in which, given the opportunity, investors will look to invest.  Bristol recorded £658 million of transactions, up 56% on the previous year, with the freehold sale of Temple Quay House reported to be the city’s largest transaction of 2019.

The residential development land market remains competitive, with particularly good demand for sites in all South West cities and also towns close to motorway junctions.

Simon Price, senior partner at Alder King, says market sentiment is high.  “The decisive outcome of last year’s general election has given much-needed clarity and confidence to the market and the outlook for the coming year is positive.

“However, occupiers and investors will find the market highly competitive and will have to plan much further ahead to satisfy their requirements, particularly when considering lease end and break options.”

For more detailed analysis, including supply, take-up and rental data across 11 key centres, read the full report: Market Monitor 2020

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Bristol’s largest industrial/logistics site sold https://www.alderking.com/bristols-largest-industrial-logistics-site-sold/ https://www.alderking.com/bristols-largest-industrial-logistics-site-sold/#respond Thu, 23 Jan 2020 10:25:15 +0000 https://www.alderking.com/?p=6370 Scottish Power has sold its commercial landholding in Avonmouth, Bristol to Walters Land Ltd, the development and regeneration division of the Walters Group. The site, […]

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Scottish Power has sold its commercial landholding in Avonmouth, Bristol to Walters Land Ltd, the development and regeneration division of the Walters Group.

The site, situated alongside the River Severn, is approximately 113 acres and will be known as Severnbanks.

Walters Land intends to target low density occupiers and land hungry requirements.  Alder King and Avison Young have been retained by Walters Land to market the available opportunities.

Andrew Ridler, head of industrial and logistics agency at Alder King, commented: “The scheme is situated within one of the region’s prime logistics locations and will provide opportunities for a sector which has traditionally found it difficult to secure space.”

Paul Hobbs, industrial agency partner at Avison Young, added: “The site’s infrastructure provides opportunities to create plots from 5-50 acres with opportunities available on short, medium and long term leases.”

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Former Vospers Exeter motor dealership sold to Ability Matters Group https://www.alderking.com/former-vospers-exeter-motor-dealership-sold-to-ability-matters-group/ https://www.alderking.com/former-vospers-exeter-motor-dealership-sold-to-ability-matters-group/#respond Tue, 03 Dec 2019 15:27:11 +0000 https://www.alderking.com/?p=6288 The former Vospers Fiat and Alfa Romeo showroom at Matford Trading Estate in Exeter has been sold to the Ability Matters Group for £1.7 million. […]

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The former Vospers Fiat and Alfa Romeo showroom at Matford Trading Estate in Exeter has been sold to the Ability Matters Group for £1.7 million.

The property, which is held on a 125 year lease from Exeter City Council, was put up for sale following the relocation of Vospers to purpose-built new premises at Matford Green Business Park in 2018.

Alder King and Colliers acted for Vospers in the transaction.

The Ability Matters Group is a leading provider of specialist prosthetic, orthotic and mobility services across the UK.  Its Exeter branch, which provides services to the Royal Devon & Exeter NHS Trust, is currently based at the Exeter Mobility Centre on Wonford Road, but will relocate to the new building in 2020.

Noel Stevens, partner at Alder King’s Exeter office, said: “The sale of this modern showroom shows the ongoing strength of demand for freehold and long leasehold property in Exeter.

“The property attracted interest from a wide range of different users looking to rent or acquire the building but ultimately Ability Matters was successful due in no small part to its willingness to engage with Vospers and Exeter City Council who of course recognised the value of their service to the city.”

The property occupies a prominent position on Matford Trading Estate, with dual frontage to Bad Homburg Way and Hennock Road East.  It comprises two separate showrooms providing a total of 16,246 sq ft of accommodation and 128 parking spaces.

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Ocado chooses Bristol for location of sixth hub https://www.alderking.com/ocado-chooses-bristol-for-location-of-sixth-hub/ https://www.alderking.com/ocado-chooses-bristol-for-location-of-sixth-hub/#respond Thu, 28 Nov 2019 11:28:25 +0000 https://www.alderking.com/?p=6276 St. Modwen has signed an agreement for lease with Ocado Retail, the UK’s largest dedicated online grocery retailer, at one of its anchor schemes, St. […]

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St. Modwen has signed an agreement for lease with Ocado Retail, the UK’s largest dedicated online grocery retailer, at one of its anchor schemes, St. Modwen Park Access 18 in Avonmouth, Bristol.

Ocado Retail has agreed a 17-year lease on a 150,000 sq ft speculatively-built unit which will act as the company’s first ‘mini’ Customer Fulfilment Centre (CFC), and is expected to support around 815 jobs in the local area. Ocado Retail will occupy a high-quality, well-located and flexible space – with the layout of the unit allowing for two additional mezzanine floors.

Peter Davies, Development Director at St. Modwen Industrial & Logistics, said:

“Securing a customer of this nature is testament to the quality of our scheme, its prime location and confirms our commitment to speculatively build-out sites where appropriate. Across our parks, we’re able to cater to both leading national occupiers as well as small-to-medium-sized industrial and logistics businesses. Ocado Retail is a strong addition to our growing list of high-quality customers and the company’s developing offering in the South West will bring significant investment in the regional economy and support hundreds of new jobs.”

Richard Locke, Operations Director at Ocado Retail Limited, added:

“Our new Avonmouth home will support the growth plans of Ocado Retail, a joint venture between Ocado and M&S, allowing us to bring ever better service to customers in Bristol and the surrounding area. St. Modwen’s well-located site was the ideal space for us to expand our retail offering and we look forward to operating from Access 18 in 2020.”

The unit will act as a Customer Fulfilment Centre (CFC) for Ocado – its sixth in the UK but also its first ‘mini-CFC’. Once live, the facility will be able to process more than 30,000 orders per week and despite its smaller size, the centre is expected to achieve productivity rates that will drive forward Ocado’s market-leading growth plans. Once delivered by St. Modwen, the fulfilment centre is expected to be fully operational at the end of 2020.

More than 1m sq ft of industrial and logistics space has been delivered at St. Modwen Park Access 18 to date, which already accommodates 16 different businesses including global courier and delivery service Hermes Parcelnet Ltd, catering equipment providers Nisbets PLC, and leading healthcare distributor Movianto.

The scheme is home to the South West’s largest speculative industrial and logistics unit and forms part of St. Modwen’s largest-ever committed industrial and logistics pipeline, standing at 1.6m sq ft nationally. Mature landscaping provides an established environment for staff to work in, while cycle paths and footways link to nearby residential areas. A bus service also runs adjacent to the site.

St. Modwen Park Access 18 is located on Avonmouth Way and Kings Weston Lane, with direct access to the M5/M49 Junctions 18/18A. The Avonmouth Docks are also within 1 mile of the site and Bristol City Centre is just 10 miles east of the scheme.

Alder King and Knight Frank are joint agents on the development.

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New 31,000 sq ft industrial scheme at Exeter’s Matford Green Trade Park https://www.alderking.com/new-31000-sq-ft-industrial-scheme-at-exeters-matford-green-trade-park/ https://www.alderking.com/new-31000-sq-ft-industrial-scheme-at-exeters-matford-green-trade-park/#respond Wed, 27 Nov 2019 17:05:38 +0000 https://www.alderking.com/?p=6221 Work is underway on a new 31,000 sq ft industrial warehouse scheme on the Trade Park phase of Exeter’s thriving Matford Green Business Park. The […]

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Work is underway on a new 31,000 sq ft industrial warehouse scheme on the Trade Park phase of Exeter’s thriving Matford Green Business Park.

The unit is due for practical completion in May 2020 and will be available to lease as a single 31,000 sq ft unit or as a sub-division into four units from 7,700 sq ft.

Devon Contractors have been appointed to construct the new units.  The scheme is being jointly marketed by Alder King and Colliers.

Noel Stevens, partner at Alder King in Exeter, said: “The completion of Phase 3 is due in May 2020 and we already have a number of strong enquiries. There will remain a final development phase of approximately four acres, which can accommodate design and build opportunities for occupiers looking for bespoke premises to lease.”

Tom Watkins, associate director at Colliers added: “This is a high-profile trade, automotive, industrial/warehouse location, with fantastic access to Exeter city centre, A30, A38 and M5.

“These units will suit local, regional and national occupiers and add to the success of Matford Green. With industrial supply at historically low levels, they will replenish the market with much needed new Grade A stock.’’

The scheme will join the new car dealerships at Matford Green which include Jaguar/ Landrover, Audi, VW, Toyota, Lexus, Ford and Mazda.

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Devizes trading estate sold for £3.46 million https://www.alderking.com/devizes-trading-estate-sold-for-3-46-million/ https://www.alderking.com/devizes-trading-estate-sold-for-3-46-million/#respond Mon, 25 Nov 2019 15:43:02 +0000 https://www.alderking.com/?p=6263 Worldwide Estates has sold the freehold investment of Nursteed Trading Estate in Devizes in Wiltshire for £3.46 million.  The multi-let industrial estate was acquired by […]

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Worldwide Estates has sold the freehold investment of Nursteed Trading Estate in Devizes in Wiltshire for £3.46 million.  The multi-let industrial estate was acquired by the private investment group Maybrook Properties.

Alder King and Strakers represented the vendor while Kenningtons acted for the purchaser.

Nursteed Trading Estate, located to the south east of Devizes, is arranged in three blocks and provides a total of 41,685 sq ft of accommodation on circa 3.86 acres.  All ten units are let to occupiers including Mole Valley Farmers, City Plumbing Supplies and Varivane Industries.  The estate produces a passing rent of £237,500 per annum.

Last year Worldwide Estates secured planning permission for the development of 17 small industrial units on a 1.06 acre yard to the rear of Units 1-4.

James Gregory, partner at Alder King’s Swindon office, said: “Nursteed Trading Estate is a well-established industrial location with sustainable tenant demand.  Having secured planning permission for a small unit scheme on the estate, Worldwide Estates decided to capitalise on the current market demand for industrial assets by taking the estate to market.”

Gareth Hunt, managing director of Maybrook Properties, said the acquisition of Nursteed Trading Estate was fully in line with the group’s portfolio strategy.

He said: “With the continued growth of ‘click and collect’, we see opportunity to enhance the value of this successful market town trading estate, particularly to boost revenue through the additional development potential.”

Maybrook Properties recently confirmed the sale of Cambridge House on Henry Street in Bath to F&C UK Property Fund for £20.85 million.

Following a programme of refurbishment and various asset management initiatives by Maybrook, the 51,580 sq ft property includes a gym and an Iceland store on the ground floor with offices above. The property is fully let with total rents of £237,500 per annum.

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Summerfield Developments completes bespoke facility for Bath Quartermaster at Westpark 26 https://www.alderking.com/summerfield-developments-completes-bespoke-facility-for-bath-quartermaster-at-westpark-26/ https://www.alderking.com/summerfield-developments-completes-bespoke-facility-for-bath-quartermaster-at-westpark-26/#respond Mon, 18 Nov 2019 14:48:10 +0000 https://www.alderking.com/?p=6224 Summerfield Developments has completed a bespoke new warehouse/storage facility at Westpark 26 near Wellington for storage firm Bath Quartermaster. Summerfield, which was advised by Alder […]

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Summerfield Developments has completed a bespoke new warehouse/storage facility at Westpark 26 near Wellington for storage firm Bath Quartermaster.

Summerfield, which was advised by Alder King and JLL, agreed a design and build contract with Bath Quartermaster earlier this year for a 24,588 sq ft storage facility on a 1.4 acre plot.

Devon Contractors began work in April on the unit, which features an unusually high building at 13 m to eaves, and achieved practical completion at the end of October.  Bath Quartermaster, which was represented by Giles Thomas of Matthews & Goodman, is now fitting out the unit before opening the facility in Q1 2020.

The development is the latest to be completed by Summerfield on its 40 acre business park which is located just off junction 26 of the M5 motorway.

Ben Trickey of Summerfield Developments said: “The completion and handover of this purpose-built facility is another important milestone in the development of the business park and we are pleased to welcome Bath Quartermaster as a new occupier.  We now have over 100 occupiers on the park, with more due to open for business in the next few months.

“For businesses looking to secure accommodation in this part of the South West, we still have plots available on the park which can be offered on a design and build basis on either a leasehold or freehold basis.”

Andrew Maynard, partner at Alder King’s Taunton office, says Westpark 26 has been one of the most active business parks in the region over the past year.

“Summerfield has seen strong levels of activity across the park this year, with a number of design and build contracts and lettings of existing space.  There is definitely buoyancy in the market for good quality, well-connected accommodation and Westpark 26 has benefited from developing several phases of the scheme speculatively.”

David Cranwell of Bath Quartermaster said: “We’ve been very impressed by the quality and attention to detail that Summerfield has displayed, as this cutting edge storage facility was designed within very fine tolerances to facilitate state of the art picking equipment.  Trading under the Stowsafe Storage banner, we look forward to servicing customers based in the south west.”

Westpark 26 accommodates a broad spectrum of businesses with on site amenities include a 60 bed Travelodge hotel, The Skylark pub, a Shell petrol filling station, Budgens convenience store, Anytime Fitness gym with 24 hour access, Costa Express (opening mid December 2019) and a Subway restaurant.  More information is available via Westpark 26.

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Groundbreaking marks start of work at St. Modwen Park Chippenham https://www.alderking.com/groundbreaking-marks-start-of-work-at-st-modwen-park-chippenham/ https://www.alderking.com/groundbreaking-marks-start-of-work-at-st-modwen-park-chippenham/#respond Thu, 14 Nov 2019 16:28:01 +0000 https://www.alderking.com/?p=6210 St. Modwen has commenced construction on the first phase of development at St. Modwen Park Chippenham. The developer has broken ground on a 106,000 sq […]

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St. Modwen has commenced construction on the first phase of development at St. Modwen Park Chippenham.

The developer has broken ground on a 106,000 sq ft speculative unit with plans to complete the site wide preparation and deliver a further phase in 2020.

The site, formerly known as Chippenham Gateway, secured planning permission from Wiltshire Council in August 2018 and has permission to build a variety of units ranging from 100,000 sq ft to 1,000,000 sq ft on the 79-acre site.

Once completed, the whole site is expected to create around 1,300 jobs once complete as well as skills, training and apprenticeship opportunities through a planned partnership with Wiltshire College.

Longer term, St. Modwen Park Chippenham will generate significant inward investment for the local area with a growth potential of around 1,000 jobs once the site is fully operational.

Located in Wiltshire, the site is strategically located off junction 17 of the M4 in the heart of the south west logistics triangle, serving both Bristol and Swindon. Mainline rail links provide access to London Paddington in just one hour and 15 minutes.

Peter Davies, Development Director at St. Modwen Industrial & Logistics, said: “St. Modwen Park Chippenham is a key industrial and logistics site in the south west region. We have already had a significant amount of interest due to its excellent location and we are able to meet specific occupier requirements with build to suit solutions in addition to our high-quality speculative build programme.”

Alistair Cunningham, Executive Director at Wiltshire Council, added: “St. Modwen Park Chippenham is an important site with real potential for growing employment in the north of the county. Once complete, the site will drive economic development as well as bring job opportunities to the area.”

Ben Shearman, Operations Manager at Winvic Construction Ltd, commented: “Our relationship with St. Modwen has gone from strength to strength and we look forward to commencing work on site and continue working in partnership to deliver quality units across the UK.”

The joint agents for the site are Alder King, DTRE and JLL. For more information on both sites, please visit: stmodwenlogistics.co.uk

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