Alder King Property Consultants https://www.alderking.com Tue, 20 Oct 2020 15:00:05 +0000 en-GB hourly 1 Construction well underway at Mercury Business Park, Cullompton https://www.alderking.com/construction-well-underway-at-mercury-business-park-cullompton/ https://www.alderking.com/construction-well-underway-at-mercury-business-park-cullompton/#respond Tue, 20 Oct 2020 14:51:26 +0000 https://www.alderking.com/?p=6874 Construction work at Mercury Business Park, a new 60,000 sq ft industrial/logistics development near Cullompton in mid-Devon, is well underway, with two units already reserved. […]

The post Construction well underway at Mercury Business Park, Cullompton appeared first on Alder King Property Consultants.

]]>
Construction work at Mercury Business Park, a new 60,000 sq ft industrial/logistics development near Cullompton in mid-Devon, is well underway, with two units already reserved.

Located on the B3181 and easily accessible from Exeter and J28 of the M5, the development is being delivered by GPG Developments to meet the demands of business occupiers and investors within the industrial/logistics and manufacturing sectors.

The development is being built in two phases and when complete will include six separate blocks, each one providing a number of individual units.   The steel frame for the 12 unit Block A is almost finished and construction is on schedule to complete at the end of the year ready for handover in January 2021.

The units range from 753 – 1,560 sq ft and are available for sale or to rent individually or grouped together. Larger requirements up to 15,000 sq ft can be accommodated on site.

The units are being built to a high specification, with dedicated yards, fibre into the site and car charging points, future proofing them for occupiers and investors.

GPG Developments Director Spencer Popham commented:  “We are extremely excited to be opening up this brand new business park here in mid-Devon.  Local businesses need space to thrive, and we are proud to be delivering high quality industrial accommodation to meet their needs.”

Chris Shears, Mid Devon District Council Economic Development Officer, visited the site to see progress. He said: “It’s great to see developer confidence and investment in mid Devon. This development helps support growth of local businesses and retain jobs.”

Noel Stevens of Alder King said: “We’re seeing strong interest, particularly from business owners looking to buy.  Two of the units are already reserved and we expect demand to increase as construction progresses.”

The units are being marketed jointly by the Exeter offices of Alder King and JLL.  Further information is available here or via both agents.

The post Construction well underway at Mercury Business Park, Cullompton appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/construction-well-underway-at-mercury-business-park-cullompton/feed/ 0
Prime retail units available at Bristol’s Finzels Reach https://www.alderking.com/prime-retail-units-available-at-bristols-finzels-reach/ https://www.alderking.com/prime-retail-units-available-at-bristols-finzels-reach/#respond Tue, 20 Oct 2020 08:49:54 +0000 https://www.alderking.com/?p=6870 Alder King has been instructed to market three prime retail units in Finzels Reach, one of Bristol’s most sought-after mixed use developments. The units, located […]

The post Prime retail units available at Bristol’s Finzels Reach appeared first on Alder King Property Consultants.

]]>
Alder King has been instructed to market three prime retail units in Finzels Reach, one of Bristol’s most sought-after mixed use developments.

The units, located on Hawkins Lane, form part of approximately 30,000 sq ft of retail and leisure space at Finzels Reach which is already home to a popular weekly street food market and a lively mix of independent restaurants, cafes and shops.

The units range in size from 439 sq ft to 1,686 sq ft and sit beneath the popular Hawkins & George, Bristol’s first build to rent development, which is owned and managed by Grainger plc, the UK’s largest listed residential landlord.  They are also adjacent to Bocabar, Fermentation and the LHG Brewpub and Mission Pizza.

Finzels Reach blends historic buildings with contemporary architecture in a convenient location alongside the Floating Harbour and close to Cabot Circus and Temple Meads.  As well as four prime office buildings, the six acre site also includes 737 homes and a 168 bedroom Premier Inn hotel.  It is estimated that by 2022, 2,500 people will be living and working at Finzels Reach.

Rebecca Harries of joint letting agents Alder King said: “Finzels Reach has established itself as one of the most sought after business and retail/leisure locations in Bristol, with a strong line-up of office occupiers and a mix of independent cafes, restaurants and bars.

“The independent restaurant sector has been one of the fastest growing retail sectors in the UK in recent years and it is widely expected to help drive the recovery of our high streets.  The success of the current retail operators at Finzels Reach shows people will respond when given the opportunity to socialise and we are therefore confident there will be good interest in these three new units, despite the obvious current challenges.”

The Hawkins Lane units are available to let on a new lease.  Further information and viewings are available by contacting Rebecca Harries at Alder King or Martin Bloom at Insight.

The post Prime retail units available at Bristol’s Finzels Reach appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/prime-retail-units-available-at-bristols-finzels-reach/feed/ 0
Somerset companies plan expansion at Peninsula 23 https://www.alderking.com/somerset-companies-plan-expansion-at-peninsula-23/ https://www.alderking.com/somerset-companies-plan-expansion-at-peninsula-23/#respond Tue, 13 Oct 2020 09:35:48 +0000 https://www.alderking.com/?p=6854 Planning applications have been submitted to Somerset County Council for two new headquarter/manufacturing buildings on Peninsula 23, Roselea Properties’ successful mixed use scheme in Bridgwater. […]

The post Somerset companies plan expansion at Peninsula 23 appeared first on Alder King Property Consultants.

]]>
Planning applications have been submitted to Somerset County Council for two new headquarter/manufacturing buildings on Peninsula 23, Roselea Properties’ successful mixed use scheme in Bridgwater.

The first application is for two buildings totalling 50,000 sq ft for Monmouth Scientific and the second for a 27,000 sq ft building for Somerset Willow.

Monmouth Scientific, which specialises in creating clean rooms and laboratory equipment for use in medical, food and research environments, had been in discussions with Roselea’s agent Alder King, earlier this year to lease a new 40,000 sq ft building on the business park.

The transaction was paused as a result of the lockdown but, following a very successful trading period during the lockdown, the deal was resumed and the requirement amended to provide an additional but separate 10,000 sq ft building.

If approved, the new facility will provide the 65-strong company with a combination of office, warehouse, manufacturing and assembly space as well as a dedicated product demonstration laboratory.

Somerset Willow, a four generation family firm renowned for its handcrafted picnic hampers, willow baskets and furniture, has been based in Bridgwater for many years.  The latest family management has now agreed a freehold design and build scheme for a new headquarters and manufacturing base at Peninsula 23 which, if approved, would give the business a larger, modern facility with room to grow and easier access to the motorway.

Anthony Hill, managing director of Somerset Willow, commented: “Securing modern premises is an important part of our growth strategy and would enable us to develop new product ranges and expand our client base.  We have worked closely with Roselea Properties and Alder King in preparing our application and are hopeful of a successful outcome next year.”

Andrew Maynard, partner at Alder King in Taunton, said: “Demand for both leasehold and freehold production space remains robust and while the lockdown may have delayed the process, both Monmouth and Somerset Willow are now keen to progress with their expansion plans to capitalise on demand for their products.

“If both schemes get the go-ahead, work could get underway in early in 2021.”

Peninsula 23, which sits opposite Woodlands Business Park off the M5, provides plots from 1- acres capable of accommodating buildings ranging from 10,000 to 150,000 sq ft.  More information on opportunities on the park is available from www.alderking.com

The post Somerset companies plan expansion at Peninsula 23 appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/somerset-companies-plan-expansion-at-peninsula-23/feed/ 0
Environmental consultancy relocates Bristol office to rural Whale Wharf https://www.alderking.com/environmental-consultancy-relocates-bristol-office-to-rural-whale-wharf/ https://www.alderking.com/environmental-consultancy-relocates-bristol-office-to-rural-whale-wharf/#respond Tue, 06 Oct 2020 11:31:27 +0000 https://www.alderking.com/?p=6835 Bath-based property developer Blue View Properties, advised by Alder King, has let Baleen House at Whale Wharf in South Gloucestershire, to leading independent environmental consultants […]

The post Environmental consultancy relocates Bristol office to rural Whale Wharf appeared first on Alder King Property Consultants.

]]>
Bath-based property developer Blue View Properties, advised by Alder King, has let Baleen House at Whale Wharf in South Gloucestershire, to leading independent environmental consultants Ecus Ltd.

Established in 1986, Ecus provides a wide range of environmental services and operates from a national network of offices. To support Ecus’ continued growth, the South West and South Wales team was seeking new office space – a new office in Cardiff and a larger hub office in Bristol.   

When viewing potential office properties for its Bristol team earlier this year, Ecus immediately felt Whale Wharf was a strong candidate. The contemporary nature of the accommodation and its rural yet well-connected location near Bristol was very much aligned with the strong environmental values of their business. It also offers options for expansion for the fast-growing business.

Rebecca Harries of Alder King said “Whale Wharf provides the type of office accommodation that many of us dream of – sophisticated, high quality space with spectacular views, plenty of parking, excellent facilities both indoors and out with the all-important quick and easy access to the motorway network.

“Baleen House will provide an excellent location for Ecus from which to further grow the business.”

Ecus will move into the property later this month.

Whale Wharf is a unique development of seven contemporary serviced office buildings in a spectacular riverside location near Bristol.

Each individual office building provides open plan accommodation, with suites from 800 to 150,000 sq ft, and comes with air conditioning, extensive on-site car parking and bicycle storage, secure entry and high quality data and telecom links.  The accommodation retains much of its character, with attractive features such as stone floors and heavy oak doors.

Whale Wharf is also the perfect location for managing the ever changing guidelines on social distancing at work with staff, offering extensive open space.

The scheme offers a stimulating working environment in a unique and tranquil location, including 11 acres of parkland with lakes, and views across the countryside and River Severn.  As demand for office space continues there are also plans to further increase the range of well-being facilities on-site. Whale Wharf remains highly accessible, a five minute drive from Junction 1 of the M48 which gives easy access to the M4/M5 interchange, Bristol Parkway Station and Bristol city centre.

More information about Whale Wharf is available from Alder King’s Bristol office on 0117 317 1000 or via www.alderking.com/whalewharf

The post Environmental consultancy relocates Bristol office to rural Whale Wharf appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/environmental-consultancy-relocates-bristol-office-to-rural-whale-wharf/feed/ 0
Conditional contracts exchanged on Bower Farm residential site in Bridgwater https://www.alderking.com/conditional-contracts-exchanged-on-bower-farm-residential-site-in-bridgwater/ https://www.alderking.com/conditional-contracts-exchanged-on-bower-farm-residential-site-in-bridgwater/#respond Tue, 06 Oct 2020 08:42:58 +0000 https://www.alderking.com/?p=6830 Conditional contracts have been exchanged on a 21.3 acre (8.8 hectare) former horticultural site at Bower Farm in Bridgwater with outline planning permission for 260 […]

The post Conditional contracts exchanged on Bower Farm residential site in Bridgwater appeared first on Alder King Property Consultants.

]]>
Conditional contracts have been exchanged on a 21.3 acre (8.8 hectare) former horticultural site at Bower Farm in Bridgwater with outline planning permission for 260 homes.  The site is being sold by Edward Ware Homes and private landowners to Keepmoat Homes.

The acquisition by Keepmoat, the UK’s seventh largest homebuilder by volume of homes built each year, will result in the delivery of a mixed tenure development including homes for sale, shared ownership and affordable rent.

Alder King advised Edward Ware Homes and the private landowners on the planning application and forthcoming sale of the site.

The firm’s planning team coordinated a multi-disciplinary consultant team on the planning application, working positively with Sedgemoor District Council to resolve issues relating to the site’s allocation in the new local plan and concerns around noise, flooding and drainage.  Outline planning permission for the site was secured in May.

The firm’s residential development land team advised the vendors concurrently on the sale of the site to Keepmoat which was conditional on securing outline planning permission.

Ben St Quintin, partner at Alder King, said: “This was a challenging project which was achieved through great cooperation between all parties.

“The site will deliver a range of much-needed new housing, including affordable housing, noise reduction measures from the M5 for existing east Bridgwater residents as well as significant infrastructure measures, such as a new spine road which will form the foundation of the wider Bridgwater east allocation.

“We look forward to continuing our partnership with Edward Ware Homes and the individual landowners which will result in Alder King bringing more consented land to the market in this location for a number of years to come.”

The post Conditional contracts exchanged on Bower Farm residential site in Bridgwater appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/conditional-contracts-exchanged-on-bower-farm-residential-site-in-bridgwater/feed/ 0
Harworth further grows income portfolio with acquisition https://www.alderking.com/harworth-further-grows-income-portfolio-with-acquisition/ https://www.alderking.com/harworth-further-grows-income-portfolio-with-acquisition/#respond Tue, 29 Sep 2020 09:27:07 +0000 https://www.alderking.com/?p=6822 Harworth Group plc, a leading regenerator of land and property for development and investment, has purchased a Short-Term Operating Reserve (STOR) facility in Newport, South […]

The post Harworth further grows income portfolio with acquisition appeared first on Alder King Property Consultants.

]]>
Harworth Group plc, a leading regenerator of land and property for development and investment, has purchased a Short-Term Operating Reserve (STOR) facility in Newport, South Wales as part of the further consolidation of its income portfolio.

The company has acquired the facility, sat on 0.5 acres of land in an established commercial area south of Newport Town Centre, for £495,000 plus acquisition costs.  It is already let to UK Capacity Reserve Ltd (Sembcorp Energy UK Ltd) on a lease expiring in 2041 and at a rent equivalent to a net initial yield of 8.45%.  Alder King advised Harworth on the transaction.

Harworth is already the landlord to a number of third-party STOR operators across the North of England and the Midlands, with this deal following the purchase of a similar UK Capacity Reserve Ltd facility in Gloucester in June.  STOR facilities provide a source of extra power to the National Grid to help manage actual demand on the system when it is greater than forecast or when other sources are unavailable, adding significant resilience to the network.

In a separate transaction, Harworth has also sold 49 acres of non-core land at Oxcroft in Derbyshire for an above book value price of £444,000, providing the business with additional financial headroom to make further strategic land or income producing property acquisitions in the future.   

Matthew Smith, Senior Asset Manager at Harworth Group, said: “STOR assets maintain a stability of service from the grid for residents and businesses alike and have proven their value during this pandemic period.  We’re keen to add to the two STOR assets we’ve acquired this year in order to support this societal benefit whilst delivering a long-term recurring income stream to the business.”

Simon Smith, partner at Alder King, commented: “Harworth have once again proven their ability to swiftly & efficiently purchase assets within this specialist property class.  We look forward to supporting their Income Generation team to further expand its portfolio.”

The post Harworth further grows income portfolio with acquisition appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/harworth-further-grows-income-portfolio-with-acquisition/feed/ 0
Former Somerset school campus for sale through Alder King https://www.alderking.com/former-somerset-school-campus-for-sale-through-alder-king/ https://www.alderking.com/former-somerset-school-campus-for-sale-through-alder-king/#respond Tue, 22 Sep 2020 13:23:51 +0000 https://www.alderking.com/?p=6796 An extensive range of buildings and land belonging to the former Park School in Chilton Cantelo near Yeovil in Somerset has been put up for […]

The post Former Somerset school campus for sale through Alder King appeared first on Alder King Property Consultants.

]]>
An extensive range of buildings and land belonging to the former Park School in Chilton Cantelo near Yeovil in Somerset has been put up for sale with a guide price of £1.95 million.

The 17.65 acre campus site includes a Grade II Listed 18th century manor house with numerous associated buildings providing classrooms, sports facilities, amenities buildings and a caretaker’s cottage.  There are also extensive grounds encompassing large areas of open space with sporting and playing field facilities.

Alder King has been appointed as agent by the liquidators, PKF Francis Clark.  Partner Andrew Maynard said: “Sadly, as a result of the coronavirus outbreak, The Park School closed for good earlier this year and now the campus is to be sold.

“The site is in a beautiful village location, with an elegant manor house at its heart.  It could obviously continue as an educational campus but a site like this with so many positive attributes may also offer opportunities for other uses such as residential conversion and development, subject of course to planning and matters relating to title.”

Lucinda Coleman, head of business recovery at PKF Francis Clark, said: “Since our appointment as liquidators of the Park School in August, our focus has been on realising the company’s assets and dealing with creditor claims.

“We are hopeful that the successful sale of the campus will enable us to deliver a substantial return for creditors, including parents and former staff members.”

More information on the property is available hereClick here to watch the promotional video.

The Park School first opened in Yeovil in 1851, teaching around 250 children from the age of four to 18.  It only relocated to the Chilton Cantelo site in 2018.

The post Former Somerset school campus for sale through Alder King appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/former-somerset-school-campus-for-sale-through-alder-king/feed/ 0
Demand for online food deliveries drives letting of Cullompton warehouse https://www.alderking.com/increased-demand-for-online-food-deliveries-drives-letting-of-cullompton-warehouse/ https://www.alderking.com/increased-demand-for-online-food-deliveries-drives-letting-of-cullompton-warehouse/#respond Thu, 10 Sep 2020 08:44:56 +0000 https://www.alderking.com/?p=6772 Property consultants Alder King in Exeter, acting on behalf of Goonvean Holdings, have let a new-build warehouse building at Goonvean Business Park in Cullompton in […]

The post Demand for online food deliveries drives letting of Cullompton warehouse appeared first on Alder King Property Consultants.

]]>
Property consultants Alder King in Exeter, acting on behalf of Goonvean Holdings, have let a new-build warehouse building at Goonvean Business Park in Cullompton in Devon to the online artisan food retailers Pipers Farm.

In 2017, the owners of Pipers Farm chose to close its high street shop in Exeter to focus on its online delivery service, a model which proved both successful and fortuitous given the huge demand for online food delivery services during lockdown.  The transaction was completed at speed in the early stages of lockdown to allow Pipers Farm to service the growing volume of customers from the new unit.

Noel Stevens, partner and head of Alder King in Exeter, explained: “This letting was agreed at a time when many retail businesses had to rely completely on their online presence.  Pipers Farm had a head start with both a strong online product offer and reputation but securing this unit allowed them to expand their output and maintain their 100% year on year growth record. It was a real team effort in challenging circumstances to get it over the line.”

Abby Allen, sales and marketing director at Pipers Farm, said: “Before the outset of the pandemic, we were already on the hunt for high quality, sustainable and eco-friendly warehousing and office accommodation to provide a suitable base for our new state of the art fulfilment centre.  Based just a short distance from the farm itself, Goonvean Business Park was the perfect solution.

“While the timing was challenging, with the support of Alder King and the team at Goonvean, we are excited to move into our brand new premises, allowing us to make the most of our continued growth.”

The success of Goonvean Business Park also illustrates the increasing importance of towns like Cullompton as a home for growth businesses in Devon.

Goonvean Business Park is a new four unit scheme owned and developed by Goonvean Holdings primarily for Goonvean Fibres, one of Europe’s largest technical fibres manufacturers.

Goonvean Fibres, a well-known employer in Honiton for many years having reluctantly made the decision to relocate, set about developing a purpose-built manufacturing site for its own occupation at Venn Place in Cullompton.  It relocated into its 55,000 sq ft unit last year, providing it with more space to accommodate rapid commercial growth.

It also developed two 12,000 sq ft semi-detached industrial units.  Pipers Farm has leased Unit 12.  The adjoining unit is currently occupied by Goonvean Fibres and will be available to let from Q1 2021.

Goonvean Business Park is a positive addition to Cullompton, providing high quality, sustainable and eco-friendly warehouse and office accommodation.  Located adjacent to the established King’s Mill Trading Estate and less than half a mile from J28 of the M5, it offers ideal space for companies looking to secure space in this part of Devon.

In a separate transaction also completed this year, Alder King has sold the freehold of Goonvean Fibres’ previous premises in Honiton.  The 27,120 sq ft detached warehouse building was acquired for an undisclosed sum by Jurassic Fibre, the Exeter-based broadband business which is building a multi-million pound new network across Devon, Somerset and Dorset.

Noel Stevens says the sale, agreed in May, demonstrates the strength of the industrial property market in the South West.

“Both before and during the lockdown, demand for industrial/logistics space, and particularly freehold space, has been extremely strong, with capital values for better quality, well-specified space holding up well.”

The post Demand for online food deliveries drives letting of Cullompton warehouse appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/increased-demand-for-online-food-deliveries-drives-letting-of-cullompton-warehouse/feed/ 0
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 […]

The post Planning permission secured for canal-side development on Silverthorne Lane, Bristol appeared first on Alder King Property Consultants.

]]>
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.”

The post Planning permission secured for canal-side development on Silverthorne Lane, Bristol appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/planning-permission-secured-for-canal-side-development-on-silverthorne-lane-bristol/feed/ 0
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 […]

The post Commercial property market shows early signs of recovery appeared first on Alder King Property Consultants.

]]>
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.

The post Commercial property market shows early signs of recovery appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/commercial-property-market-shows-early-signs-of-recovery/feed/ 0
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 […]

The post St Modwen attracts major automotive manufacturer to key industrial and logistics site in Avonmouth appeared first on Alder King Property Consultants.

]]>
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

The post St Modwen attracts major automotive manufacturer to key industrial and logistics site in Avonmouth appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/st-modwen-attracts-major-automotive-manufacturer-to-key-industrial-and-logistics-site-in-avonmouth/feed/ 0
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. […]

The post Resolution to grant planning permission at the Oliver Buildings, Barnstaple appeared first on Alder King Property Consultants.

]]>
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.

The post Resolution to grant planning permission at the Oliver Buildings, Barnstaple appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/resolution-to-grant-planning-permission-at-the-oliver-buildings-barnstaple/feed/ 0
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 […]

The post A 19 year winning streak – a unique achievement appeared first on Alder King Property Consultants.

]]>
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.”

 

The post A 19 year winning streak – a unique achievement appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/19-years-weve-done-it-again/feed/ 0
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 […]

The post Work underway on new Highbridge business park appeared first on Alder King Property Consultants.

]]>
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.

The post Work underway on new Highbridge business park appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/work-underway-on-new-highbridge-business-park/feed/ 0
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 […]

The post St Monica Trust acquires brownfield site for extension to Chocolate Quarter appeared first on Alder King Property Consultants.

]]>
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.

The post St Monica Trust acquires brownfield site for extension to Chocolate Quarter appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/st-monica-trust-acquires-brownfield-site-for-extension-to-chocolate-quarter/feed/ 0
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 […]

The post Alder King appoints Josh Bryant to its lease advisory team appeared first on Alder King Property Consultants.

]]>
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.

The post Alder King appoints Josh Bryant to its lease advisory team appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/alder-king-appoints-josh-bryant-to-its-lease-advisory-team/feed/ 0
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 […]

The post Bristol bakery Cakesmiths expand into adjacent units appeared first on Alder King Property Consultants.

]]>
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.

The post Bristol bakery Cakesmiths expand into adjacent units appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/bristol-bakery-cakesmiths-expand-into-adjacent-units/feed/ 0
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 […]

The post Alder King advises Rowe Group on new Gloucester Costa drive-thru appeared first on Alder King Property Consultants.

]]>
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.

The post Alder King advises Rowe Group on new Gloucester Costa drive-thru appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/alder-king-advises-rowe-group-on-new-gloucester-costa-drive-thru/feed/ 0
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 […]

The post Alder King advises on solar investment purchase from Harworth Group appeared first on Alder King Property Consultants.

]]>
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.

The post Alder King advises on solar investment purchase from Harworth Group appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/alder-king-advises-on-solar-investment-purchase-from-harworth-group/feed/ 0
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. […]

The post Exeter’s largest available warehouse ready to rent following refurbishment appeared first on Alder King Property Consultants.

]]>
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.”

The post Exeter’s largest available warehouse ready to rent following refurbishment appeared first on Alder King Property Consultants.

]]>
https://www.alderking.com/exeters-largest-available-warehouse-ready-to-rent-following-refurbishment/feed/ 0