Tags Posts tagged with "Alder King"

Alder King

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Property consultancy Alder King’s ‘sterling performance’ in 2014 has won it the title of Most Active Agent in the South West for the 14th year in succession.  The firm won the award from leading property publication Estates Gazette for completing over a third of the 1,235 deals transacted overall across the region in 2014.

Once again, it was Alder King’s dominance in the offices and industrial markets which helped it secure the Most Active Agent title for another year.

Simon Price, head of agency at Alder King, commented: “Estates Gazette commended our ‘sterling performance’ across the office and industrial markets, saying our hunger shows no signs of abating even after 14 years.  Of course we’re absolutely delighted that our consistently high performance has delivered us this award for a 14th time.

“2014 commercial property activity was the strongest since the financial downturn and we delivered not just an increased number of transactions but also a number of very high profile deals too.  These included the prestigious office lettings at 2 Glass Wharf (pictured) and 66 Queen Square in Bristol, the pre-let at Gloucester Business Park to Horizon Nuclear Power and the design and build letting to GeoPost for a  new distribution centre at Woodlands Business Park in Bridgwater.

“Prospects for 2015 look very encouraging with more high profile transactions and new speculative developments in the pipeline.  We look forward to building further on our market-leading position.”

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Leading property consultancy Alder King has announced the promotion of five members of staff in its Bristol headquarters.

Emma Smith and Tom Dugay, who specialise in industrial and office agency respectively, have both been promoted to senior surveyor.  These promotions reflect Emma and Tom’s success in securing a significant volume of transactions through a challenging period for the occupational market.

Building surveyor Chris Sully, who joined Alder King as a graduate, is also promoted to senior surveyor in recognition of his contribution to the growth of the practice’s building consultancy service in Bristol and, in particular, the development of its project monitoring and dilapidations markets.

Catherine Norris joined Alder King’s planning team in early 2014 and has now been promoted to principal planner in acknowledgement of her skills and expertise in the co-ordination of strategic projects and her strong work ethic.  Genevieve Tuffnell is also promoted to senior planner in recognition of her hard work and commitment since joining the planning team in 2012.

Alder King senior partner Martyn Jones congratulated all five, saying: “These promotions are very well deserved and are given in recognition of outstanding performance, increased responsibilities and significant contributions to the success of the business.”

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Following its relocation to Whitefriars in Bristol city centre last year, children and young people’s cancer charity CLIC Sargent has now sold the freehold of its previous regional office in north Bristol to another charity.

Property consultants Alder King have finalised the sale of Unit E Abbey Wood Business Park in Filton to Africa Inland Mission International, which is relocating from their current premises in Redland.

The 1,651 sq ft two storey office building was sold off a quoting price of £300,000.

Neil Buckland, Head of Property and Facilities at CLIC Sargent, said: “Our old offices in Filton had served us well but we had outgrown them and moved to Whitefriars in Bristol city centre last year.  We are pleased to have now sold the Filton office, especially as it’s been acquired by another charity.”

Tom Dugay, office agency specialist at Alder King, supported CLIC Sargent throughout its office relocation and disposal.  “The successful disposal of this out of town office building is indicative of the high level of demand for modern office space on the north Bristol fringe.”

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Property consultancy Alder King has finalised two lettings in Truro city centre to the fashion retailer East and Cornish social enterprise Community Energy Plus.  Both transactions demonstrate renewed confidence and activity in the city’s property market.

Fashion retailer East, currently located on Pydar Street, has confirmed it will relocate later this year to the former Country Casuals unit at 9 St Nicholas Street.  The property, which includes a ground floor retail unit and staff accommodation on the first floor, was temporarily occupied by Hawkins Bazaar but is now being fitted out by East prior to its relocation later this year.

East has taken the unit on a new 10 year lease at an annual rent of £65,000 per annum.  It was represented by retained agent Douglas Struth & Partners.  Alder King acted for the landlord, the Marley Pension Fund.

At 35 River Street, Alder King has also secured a tenant for the top three floors of office accommodation above the Ladbrokes shop.   Community Energy Plus, an award-winning social enterprise that helps householders in Cornwall address fuel poverty, energy efficiency and sustainable energy issues, has taken the accommodation on a new five year sub-lease at the asking rent of £9,750 per annum.

The accommodation is unusual in having its own ground floor entrance at the back of the building, together with its own dedicated parking space.  It has also recently been refurbished to provide two floors of office space with storage capacity on the top floor.

Tom Duncan, associate at Alder King’s Truro office, said: “Truro’s retail vacancy rates – already below the national average – dropped further last year so it’s hardly surprising that the former Country Casuals unit was snapped up so quickly by one of the national multiples.

“We also saw the Ladbrokes office accommodation generating strong interest, no doubt because of its central location, independent access and parking space.”

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Property consultants Alder King have secured the freehold sale of the former Heathcoat Fabrics facility in Bodmin.

The sale to Western Counties Roofing was finalised after an extensive marketing campaign which generated strong interest from two bidders.  The competitive nature of the disposal is a clear sign of an improving commercial property market in Cornwall and the lack of available industrial accommodation.

The factory and office premises on Lucknow Road have been vacant since the transfer of Small & Tidmas’s production facility to Tiverton in 2010.  The facility has now been acquired by Western Counties Roofing Ltd to facilitate the expansion of its Bodmin branch into larger premises.  It purchased the property for £425,000 off an asking price of £500,000, a figure that reflects the updating works required to improve the building.

The substantial 21,992 sq ft industrial and office facility sits on a 1.36 acre site on the Walker Lines Industrial Estate, close to the A30 and A38 junction.

Tom Duncan of Alder King’s Truro office said: “Demand for modern industrial accommodation increased last year but there is very little available supply for companies looking to expand.

“This property, while needing some modernisation, is well-located and offered good value for money, factors which resulted in a competitive bidding situation.”

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Acting jointly and on behalf of retained clients, property consultants Alder King and Wells Commercial have successfully disposed of the multi-let office investment of Units A7 – A10 at Lakeside Business Park near Cirencester.  The freehold of the 8,500 sq ft terrace has been sold to a private investment company for an undisclosed sum.

The Cotswold stone-clad property was fully let to three tenants – specialist recruitment company Hudson Banks LLP, industrial manufacturer Socomec and LF Spare Parts by way of full repairing and insuring leases.

Elsewhere on the Business Park, Alder King and Wells Commercial have also sold the long leasehold interest of Unit 6 to existing occupier Hudson Banks LLP for an undisclosed sum.

The office unit, originally built in 2007 and subsequently extended to circa 2,150 sq ft, will facilitate the expansion of the accountancy recruitment agency which counts many of the UK’s leading accountancy practices as clients.

Martin Baker of Alder King’s Swindon office commented: “Interest in both opportunities at Lakeside Business Park was strong from both the investor and occupier sectors of the market.  The successful disposals only serve to reinforce the continued improvement in the commercial property market.”

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Skanska’s commercial development at 66 Queen Square, Bristol, has reached its highest point in the construction process. The topping out ceremony marks an important milestone in bringing this new, 61,000 sqft (5,667m²) landmark office building to the Bristol market.

During the event, George Ferguson, Mayor of Bristol, and Mike Putnam, Skanska UK President and CEO, tightened the last bolts in the steel frame of what will be Skanska’s first commercial office development in the UK in recent years.

The event brought together many of Skanska’s clients, partner organisations and employees, including representatives from KPMG, which has taken a 15-year lease on 85 per cent of the building. Skanska and KPMG also highlighted their official partner status with Bristol 2015 for the city’s year as European Green Capital.

Mike Putnam, said: “We’re very proud that our 66 Queen Square development is helping to restore a beautiful, historic part of Bristol. The award-winning building will also provide modern, energy-saving measures to increase sustainability and cut carbon, helping Bristol to become an even greener city.”

George Ferguson, Mayor of Bristol, commented: “This development is an excellent example of what can be achieved when the city and a conscientious business work collaboratively. Bristol will have a great new office space, which makes a positive contribution to the local environment.”

Phil Cotton, Bristol Office Senior Partner at KPMG, said: “We want to reduce the impact we have on the environment as a business, and our property portfolio plays a leading role in this.  The sustainable features at Queen Square will help us to reduce our energy consumption and CO2 emissions, and provide a fantastic environment for our staff in the heart of the city.  We are delighted to take one step closer to moving into this iconic building.”

Situated in one of Bristol’s prime business locations, construction of 66 Queen Square will complete in the summer. The grade A office space integrates a grade II listed Georgian terrace with the new building, combining historic elegance with modern, efficient office space and fantastic views over the square.

The building incorporates sustainable features for long-term energy efficiency, including photovoltaic panels, LED lighting and water-saving fittings to meet the BREEAM Excellent standard and an EPC A rating.

An award-winning project before construction has even completed, the office development was crowned BIM Project Application Award winner in the annual British Construction Industry Awards 2014.

Just 9,000 sqft (836m²) is now available to let, comprising 3,000 sqft (279m²) on both the ground and fourth floors, in addition to a self-contained 3,000 sqft (279m²) unit at 72 Queen Square.

Alder King and JLL are letting agents for the development.

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Developers of a new £3.6m business park on the outskirts of Newquay in Cornwall are celebrating after all six units were snapped up prior to the business park’s completion.  The scheme,  which was part-funded by the ERDF Convergence Programme, is an excellent example of a private and public partnership to develop quality business workspace.

Since commencing work in late 2013, Quintrell Downs Business Park attracted strong interest due to the lack of available high quality workspace in the Newquay area.  This first phase of development created a new, fully serviced and accessed business park featuring six high quality employment units and a further three acres of development land.

Property consultants Alder King and Stratton Creber Commercial have now sold or let all six units to a range of successful indigenous and national occupiers, creating new employment and making a second phase of speculative development increasingly likely, subject to the availability of grant funding.

New occupiers in the four unit terrace include Cyberstein Robots Ltd which has purchased a long leasehold interest in Unit 2a.  The company behind the cult character Titan the Robot has relocated from its previous base at Treloggan Industrial Estate in Newquay to secure larger and more energy-efficient premises.

Residential developer Legacy Properties has purchased the long leasehold interest of Unit 2b for its Cornish headquarters and to provide some storage capacity.

Roche-based Celtic Tuning, which specialises in vehicle management software and operates nationwide, has acquired the long leasehold interest in Unit 3a, with the option to purchase the 4,508 sq ft semi-detached unit at a later date.  The new unit will become the company’s new headquarters.

Another business has purchased a 4,500 sq ft facility and has already started significant fit out works to transform the space into an IT centre, creating a significant number of new jobs.

Tom Duncan, head of agency at Alder King’s Truro office, said: “Fortdown’s development was one of the first speculative schemes in Cornwall for several years and the successful disposal of all six units demonstrates that Cornwall businesses will move quickly to secure quality new space when it is immediately available and ready to move into.

“We anticipate that when the next stream of ERDF grant funding becomes available in the summer of 2015, we’ll see further speculative development get underway to give expansion opportunities to more of Cornwall’s most flourishing businesses.”

It is hoped that over the next few years and with further phases of commercial development likely (subject to grant funding) that a large number of 100 jobs could be created and supported as a result of this development.

The units, which range in size from 1,830 to 4,500 sq ft, are all highly sustainable and been built to BREEAM Excellent standards. The developers Fortdown Developments Ltd have future-proofed the units by installing roof mounted Solar PV, highly efficient heating systems, high levels of insulation and other environmentally friendly technologies which together will result in lower energy costs for occupiers.

John Richards from Fortdown Developments said: “Everyone at Fortdown Developments is delighted that the workspace has been so popular and that they will be occupied by a varied set of local and national businesses – all of whom are growing businesses who plan to create new, well paid jobs over the coming months and years. The location, quality and specification of these premises demonstrate the need for quality workspace in the Newquay area.”

Fortdown Developments Ltd plans to develop the remaining three acres of land on the business park for further commercial development. However, it will also consider disposing of individual development plots or larger parcels of land should that be of interest.  Richards continued: “Thanks to the amazing response to the first phase of this development we encourage anyone looking to expand to consider Quintrell Downs Business Park as their first choice for relocation or expansion.”

Chris Pomfret, Chair of the LEP and Deputy Chair of the Convergence Local Management Committee, which steers the Convergence Programme said: “As we move towards the next European Programme, it is important to remember that Convergence investments are still delivering great results across the region. Quintrell Downs Business Park is an excellent example of a private and public partnership to develop workspace to fulfill business needs in the area.”

The units use a range of high performance materials, including timber cladding (from a sustainable source) and incorporate flexible office space that can be extended horizontally and vertically to suit the end users’ specific requirements. Externally, the units include car parking spaces which are complemented by cycle storage and recycling facilities for the future occupiers’ use.

Robert McGuffie of RJM Property & Development Consultants Ltd has been working with Fortdown throughout the project and said: “We have been delighted with the response received to this speculative project and it can be used as a great example of providing the right flexible space for businesses looking to expand and locate in the area. Whilst these units are now occupied, further opportunities will be available on the remaining development land and interested parties should contact myself, Fortdown Developments Ltd or their agents Alder King and Stratton Creber.”

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The new owners of The Levels, Phase II Capital Business Park in Cardiff are already witnessing the benefits of the investment programme they are undertaking.

The Pears Group acquired the 22 industrial warehouse units totalling 120,000 sq ft last summer, attracted by its strong location and potential for increased rental incomes from proactive management.

Constructed in 2006, the Park is less than four miles from Cardiff city centre in an established commercial and industrial area with occupiers nearby including FedEx, National Grid, Everest Windows and B&Q. With Aldi’s proposed regional distribution unit on an adjoining site, and parcel delivery company DPD’s new depot nearby, the area has become a property hotspot in recent months.

Knight Frank and Alder King are the letting agents. Neil Francis, who heads the industrial agency team of Knight Frank in Cardiff, said: “The new landlord’s investment programme is already paying dividends.  New office space has been created in two of the units, a new yard is being created at J Block – and existing occupier A&S Manuel has taken additional space in the 3,500 sq ft H5 unit.”

Nicole Kruger of Alder King added: “With a real shortage of quality units in Cardiff, The Levels is a high quality multi-let industrial park in an increasingly attractive location. My client’s proactive approach to asset management includes improvements and refurbishments across the scheme which will help to attract a high calibre of occupier. With vacant units from 3,300 sq ft to 13,000 sq ft, The Levels has a strong story to tell.”

Ben Grossman of the Pears Group said: “This has been our first industrial purchase within South Wales and we are pleased that our actions have resulted in good levels of activity. With unit M1 under offer and terms being discussed on to others, the future of the Park looks positive.

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This month, the UK’s leading regeneration specialist, St. Modwen, has started work at its 16 acre Gateway 12 development at Waterwells Business Park, Gloucestershire, to build the first of two buildings on site as well as a new access road.  Local contractor, Barnwood Construction, is delivering the work on behalf of developer, St. Modwen, over the next nine months under a contract worth £3m.

Scheduled to complete this summer, the first unit on site will provide 40,950 sq ft of prime location warehouse and industrial space available for purchase or rent by firms looking to expand or relocate in the area.  Businesses interested in this first unit or further design and build opportunities at Gateway 12 should contact agents Ash & Co or Alder King.