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Alder King


Property consultants Alder King, acting on behalf of Hazelwoods The Liquidator for Riverside (Lechlade) Limited, have successfully disposed of the freehold interest in the former Antiques Arcade in Lechlade.

The Grade II listed property, a traditional Cotswold stone terrace of single and two storey buildings which was originally four separate dwellings, occupies a prominent position within the town’s Conservation Area.  It has been sold to private purchasers for an undisclosed sum.

Martin Baker, of Alder King’s Swindon office, said: “This was an architectural gem – a unique character property in an attractive market town and as a result it attracted significant interest.

“It has been acquired by a private purchaser whose intentions for the property are as yet unknown.  However substantial renovation works will be required by the new owners to return the property to its former glory.”


Property consultants Alder King have agreed two further office lettings at Castleton Court on St Mellons Business Park, making it one of Cardiff’s most active business park locations.  Over the past year, Alder King and joint agent Cooke & Arkwright have secured five transactions on the park totalling 9,967 sq ft.

The latest occupiers include training and coaching organisation t2, which arrived on the park last year and has now expanded again, and 1st Green Deal, which works to improve the energy efficiency of homes through the Government’s Green Deal scheme.

Formed in 1996, T2 has grown to become one of the largest training and coaching organisations in the UK after increasing staff numbers from 88 to 360 in less than 18 months.  Last year it took Unit 2 at Castleton Court, a short distance from its head office at Melrose Hall on Cypress Drive, to accommodate its growing workforce.  Following further growth, it has now relocated staff from Unit 2 into the larger Unit 3, which provides 4,541 sq ft of space.

1st Green Deal has taken Unit 8, at 803 sq ft one of the smaller units on the Park, on a new five year lease at an annual rent of £6,060.  The unit’s green credentials, value for money and proximity to the road network were key factors in its decision to establish itself on the park.

Owen Young, partner at Alder King, said: “Castleton Court has become a big success story, offering relatively small office units at very competitive rents with ample parking.  Really there is nothing else to compare with it in the area in terms of price, quality and infrastructure and that’s why we’ve seen such encouraging levels of activity on the park. Furthermore, we have proposals being considered on another three units.

“t2’s growth has been phenomenal by anyone’s standards.  It’s a strong vote of confidence that they have chosen to expand yet again on Castleton Court.”

Other recent newcomers to Castleton Court include planning consultancy RPS and care group Right at Home.  The park is also home to other high profile occupiers including Lloyds TSB, Environment Agency for Wales, Welsh Water, Virgin Media and Opus Consultancy.

Castleton Court is located on St Mellons Business Park to the east of Cardiff and provides ready access to the A48 and A48M.  Alder King is marketing the remaining units which provide between 747 and 8,000 sq ft of office accommodation with on-site car parking.

Alder King and Cooke & Arkwright acted for the landlord, the Lul Association.  T2 and 1st Green Deal were unrepresented.


Alder King Planning Consultants have recently secured planning permission and a related Listed Building Consent for the mixed use employment development of 7.46 hectares of land at South Yard in Devonport Naval Base in Plymouth.  The development is one of the most ambitious regeneration projects in the South West and aims to reaffirm Plymouth’s reputation as a global centre of marine expertise.

Working as part of a high profile team led by AECOM, Alder King co-ordinated the submission of the applications to Plymouth City Council on behalf of the Plymouth City Deal Team, securing consent within just four months.

The granting of planning permission is a significant component of a land deal between the Ministry of Defence and Plymouth City Council to transfer part of South Yard to the Council for employment-led urban regeneration.

The site, which sits within the new Enterprise Zone, is split into two distinct levels and includes significant heritage assets including Listed docks and former Naval buildings.

The development will leverage new investment and create up to 1,100 new jobs and 349,000 sq ft of high tech and manufacturing employment space. This will include a Marine Industries Production Campus.

In addition to the main development, the planning application also considered significant issues including preserving the security of residual MOD dock uses, air quality, ecology, pollution, contamination, sustainability and traffic.

The AECOM team, which includes LHC Architects and Alder King’s development consultancy colleagues, worked closely with English Heritage, the Environment Agency and key Plymouth City consultees.

Dale Evans, planning partner at Alder King, said: “We are very pleased to have been part of the AECOM team on this project and to have secured the permissions in the timeframe essential to facilitate the land deal and the bringing forward of the first phase of development on the eastern part of the site.

“Securing the permission required real engagement at a pre-application stage and the completion of an initial and addendum Environmental Statement. This would not have been possible without a collaborative and pragmatic approach from the applicant team, City Council officers and key consultees such as English Heritage.

“With a sound Outline permission in place, we are very hopeful that the first phase of development can proceed quickly, facilitating the direct delivery of jobs into the area and wider environmental and socio-economic benefits.”


In response to increased demand for its valuation services across the South West, property consultancy Alder King has appointed valuation specialist Chris Barraclough as an associate.

Chris, who has worked in the South West property market for over 15 years, will work alongside partner Andrew Maynard providing valuations for private and public sector clients across Somerset and North Devon.

Chris joins Alder King after four years with Vickery Holman in Exeter.  Prior to this, he worked for the Crown Estate in central London specialising in residential development and management. Chris also has wide experience of development and investment in the food store and residential sectors.

Chris said: “I am delighted to join Alder King, a leading firm in the South West which is involved in many of the region’s leading development projects and has expertise across many sectors.”

Alder King partner Andrew Maynard commented: “This is a new role created to meet growing demand for our valuation services across the central South West area.  Chris has strong credentials and experience as well as excellent local knowledge and contacts which will be of great benefit to the practice and we are very pleased to have him on board.”


Toolstation, one of Britain’s fastest-growing suppliers of tools, accessories and building supplies to the trade and DIY markets, is extending its coverage in Wales with the opening a new branch in Merthyr Tydfil.

The business, which has 180 branches nationwide including two in Cardiff and one in Swansea, has now taken one of the last remaining units at Pant Industrial Estate, a well-established trading location serving the Heads of the Valley area of South Wales.  The new unit will be the operator’s fourth branch in Wales.

The Toolstation branch sits within a detached high bay warehouse which has been divided to create a number of self-contained trade counter/retail operations.  Other occupiers within the building include Screwfix, Wilkes Builders Merchants, Just Carpets, The PVC Store, Pant Car Sales and Salon Connection.

Unit 31 provides 6,300 sq ft of trade counter, warehousing and office accommodation space and represents 10% of the total building space.  The property sits in a prominent location at the entrance to the Industrial Estate with good visibility and access to the A465 Heads of the Valleys Road.

Owen Young, partner at Alder King which negotiated the letting on behalf of the landlord, said: “The majority of Toolstation’s network is in England and Scotland.  This property gives the retailer a fourth highly visible branch in Wales and access to a deep hinterland of customers not previously served by their other Welsh branches.”

The letting of Unit 31 on a new 10 year lease was negotiated by Alder King on behalf of the landlord Crawshaw Bailey.  Toolstation was represented by Adept Consultancy UK Ltd.

Alder King is marketing the remaining 11,492 sq ft of accommodation at Pant Industrial Estate.


Global management, engineering and development consultancy Mott MacDonald is to become the latest tenant at 10 Templeback, Bristol.

News of the deal comes just two weeks after Momentum Financial Ltd moved into the building, which is asset managed by London-based Cube Real Estate on behalf of its owner, Benson Elliot.

Mott MacDonald hopes to move its 100-strong team from its Prince Street, Bristol address in June 2015.

The consultancy is taking 10,000 sq ft on the ground floor of the building on a ten year lease, accommodating up to 125 people. There is now just 41,000 sq ft left at the building, with another two units currently under offer.

Mark Shields, office manager at Mott MacDonald in Bristol, said: “We chose 10 Templeback because it offered Grade A office space at a stunning waterfront location, which is typically very hard to come by.

“Our new premises will give us the opportunity to strengthen and expand our service offering while improving operations efficiency, allowing our staff to work more closely and with our clients.”

Jonathan Lawes, asset manager at Cube, continued: “The interest we’ve had in 10 Templeback is phenomenal. With two deals done and another two on the way, we are confident the building will be fully let before long.

“The offices are in a prime city centre location and offer modern, bright and adaptable workspaces on flexible terms, in line with today’s business demands.”

The real estate firm has been granted planning permission to improve the arrival experience at 10 Templeback with a re-designed entrance and re-modelled reception. The firm also plans to create a new shower hub in the car park which will include cycle racks, showers, a drying room and lockers to further enhance the building’s green credentials and promote sustainable travel. The building already has a ferry stop.

10 Templeback is a 123,000 sq ft building and one of Bristol’s most prominent Grade A office developments. The waterfront building is one of the city’s greenest buildings and is available to new tenants on tailor made attractive terms.

NFU Mutual currently occupies two floors but substantial high quality space remains across three floors.

10 Templeback is being jointly marketed by DTZ and Alder King.


The Budget was, overall, good news for the South West and Welsh economies, say property consultants Alder King, with the Chancellor George Osborne confirming a long-overdue review of business rates and significant new regional transport and infrastructure investments.

Martyn Jones, senior partner at Alder King, said: “After a well-mounted campaign to persuade the Government to review business rates, the announcement of a review comes as no surprise, but is welcome nonetheless.

“Businesses now have the opportunity to put forward recommendations for a tax that promotes growth, keeps pace with the economy and is simple to administer.  However we have to be careful that this isn’t a case of smoke and mirrors.

“The Government’s terms of reference document for the review states that it will be ‘fiscally neutral’, meaning the amount of tax generated – in excess of £20 billion per annum – will essentially remain the same, albeit calculated using a different formula.

“We are however very encouraged by the pilot proposals to allow Greater Manchester and Cambridgeshire and Peterborough to keep 100% of business rates revenue over and above projected levels.  This will act as a major incentive for new development.  The Chancellor has indicated that the door is open to other areas that wish to follow in their ambitious footsteps, something the Severn Powerhouse campaign would be keen to adopt and we would fully support.

“Fast, efficient and cost-effective transport is key to business development,” continues Mr Jones.  “We are therefore very pleased to see that there will be a £7 billion investment in south west transport infrastructure, including the creation of a rail franchise and new Intercity Express trains giving more frequent services and faster journey times.

“Reducing the cost of the Severn Bridge road tolls, once the bridge is in public ownership post-2018, will also support business and help break down barriers between the South West and Wales.”

Other positive measures include supporting the creation of a new Enterprise Zone within the south Naval Dockyard in Plymouth and a study into the financial viability of the £1 billion Swansea Bay tidal lagoon scheme.


Gloucester remains a popular destination for a range of businesses looking to step up operations following the downturn, according to commercial property specialist Bruton Knowles.

The firm is currently marketing one of the biggest warehouse units in the City at Mill Place on the Bristol Road, Gloucester, on behalf of Robert Hitchins Limited.

At 75,000 sq ft, Unit A is available as a major warehouse distribution depot with potential to split.

Head of Commercial Agency in Gloucester Robert Smith said contrary to some recent reports business activity was looking brisk in 2015.

“There has been a significant improvement as businesses start thinking about expanding following years of treading water.”

Firms looking for bigger, flexible accommodation are heading to Mill Place on Bristol Road where they can take advantage of the excellent transport connections.

Robert Smith said Mill Place was within a few miles of the city centre and junction 12 of the motorway. The location proved particularly popular towards the end of last year with a number of lettings.”

With a range of industrial, storage and office premises across two adjacent sites, Mill Place is being jointly marketed by Bruton Knowles with Alder King.

The business park is handily located on the A430 Bristol Road just over a mile from the city centre and three miles from J12 of the M5.


JR Smart’s new development at Capital Quarter in Cardiff is strengthening an already buoyant office investment market, with increased investor appetite for quality properties in the surrounding area.

Regional property investor Bridgevale Properties Ltd has seized the opportunity to acquire the long leasehold investment of 1-3 Raleigh Walk, a purpose-built, three storey interlinked office complex in one of the city’s fastest-improving office areas, adjacent to where JR Smart’s new development is under construction.

The 5,940 sq ft property is currently 78% occupied, with tenants including Penguin Wealth, Capita Business Services, Kennson Ltd and Menshen Packaging UK Ltd, and generates a rental income of £39,496 per annum rising to £50,679 in 2017.  Two smaller open plan suites of 655 sq ft remain available.

Bridgevale acquired the long leasehold of the property with 974 years unexpired for £386,501, representing a net initial yield of 9.8%.

Owen Young, partner at Alder King in Cardiff which acted for the vendor, said: “The value of investment transactions in Cardiff increased last year to £209 million, a rise of nearly 60%, as investors sought value outside the over-heated London market.  We’ve seen very strong demand for prime properties in the city and increasingly good levels of demand for secondary and fringe properties such as this one.

“Bridgevale recognised this property’s potential for rental and capital growth through further investment and proactive management.  Over the next three to five years, this part of the city centre will undergo the most dramatic transformation with the development aspirations of JR Smart at Capital Quarter, and this will have a ripple effect on the value of this and other neighbouring properties in the prime office district.”

Raleigh Walk was developed in the early 1990s and comprises three terraced units in pleasant landscaped surroundings.

Units 1 and 2 on the first floor of the property are vacant, each providing 655 sq ft of accommodation and two car parking spaces.


Momentum Financial Technology Ltd, formerly known as Blue Speck Financial Ltd, has relocated its 40-strong team to new offices at 10 Templeback, Bristol.

The Bristol-born financial technology firm, which announced plans to open a new 120-person facility in November, has moved to the top floor of the building following the completion of a major redesign.

The 13,000 sq ft office space has been designed to offer a quirky, flexible working environment which includes creative breakout zones, a communal canteen and state-of-the-art meeting facilities.

The concept of workplace transformation is a rapidly growing trend in Bristol as businesses look for ways to change how their staff work and interact with their office environment.

London-based Cube Real Estate, which asset manages the property on behalf of its owners, Benson Elliot, is well-known for allowing businesses to put their own creative mark on buildings and designing spaces where tenants can operate efficiently.

Jonathan Lawes, director of Cube, said: “The way people spend their working day is changing and we knew that to meet these demands, we need to offer flexible terms and give businesses the opportunity to make their mark on the building.

“This trend is particularly prevalent amongst tech businesses as they look to fall in line with sustainability measures as well as the ‘smart working’ concept. In Bristol, there are rising demands for office space with a real focus on innovative design.

“The way Momentum has adapted the space in response to this is outstanding and we hope it will become a benchmark for future tenants at the building.”

Momentum Financial Technology, which offers cutting edge financial solutions, has taken 13,000 sq ft on a ten year lease and joins current tenants, NFU Mutual.

Toby Hughes, CEO at Momentum Financial Technology, said: “We were amazed at how quickly the fit out was completed and even more amazed when we saw the finished product in the flesh.

“The space offers us with all we need and more, including capacity to further expand our growing team which we hope to have in place by early 2016.”

The office was designed by Area Sq and fitted by Sketch Studios, both part of the FourFront Group. Features include a table-tennis and foosball area, an event space and purpose-built bar, sound-proof work pods and a financial wellness wall, which represents the complexity of navigating financially through your life.

Cube Real Estate has applied for planning permission to improve the arrival experience at 10 Templeback with a re-designed and re-modelled reception. The firm also plans to create a new shower hub in the car park which will include cycle racks, showers, a drying room and lockers to further enhance the building’s green credentials and promote sustainable travel. The building already has a ferry stop.

Two other transactions are currently being finalised, with space totalling 15,000 sq ft under offer.

10 Templeback is a 123,000 sq ft building and one of Bristol’s most prominent Grade A office developments. The waterfront building is one of the city’s greenest buildings and is available to new tenants on tailor made attractive terms.

NFU Mutual currently occupies two floors but substantial high quality space remains available on the remaining three floors totalling 50,000 sq ft.

10 Templeback is being jointly marketed by DTZ and Alder King.