Tags Posts tagged with "Alder King"

Alder King

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The investment interest in a Bristol city centre office building has changed hands for £17.34 million. Advised by Bilfinger GVA, Epic UK has acquired the freehold of 1 Linear Park, Temple Quay, out of receivership from PwC. The price reflects a net initial yield of 6.15%.

Situated in the heart of Bristol’s business quarter, 1 Linear Park is let to Simmons & Simmons, DNV and Kaplan Financial. The property extends to 52,000 sq ft over 6 floors, and is fully occupied with a WAULT (weighted average unexpired lease term) of 4.6 years.

Richard Howell, Investment Director at Bilfinger GVA in Bristol says, “Temple Quay is a vibrant area, and there are strong prospects for rental growth at 1 Linear Park as confidence in the occupier market continues to improve.  There is a significant amount of further development planned for Temple Meads, within the Enterprise Zone and the Arena site, and this will all assist in ensuring Temple Quay remains the focus for prime office development in the city going forward.”

Bilfinger GVA acted on behalf of Epic UK,  Alder King and Savills acted on behalf of the vendor.

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Alder King has completed two office deals in Devon Square, part of the historic centre of Newton Abbot in Devon.

34 Devon Square, a period office building amounting to 1,871 sq ft (173.95 sq m), has been let to GoBe Consultants, a marine planning and environmental consultancy which has relocated from offices on Denbury Road in the town.  The company has taken the offices on a new lease for a term of six years at £18,500 pa.

The second property at 20 Devon Square was sold to Centurion Books Limited off an asking price of £250,000.

Lee Southan of Alder King’s Exeter office says: “Both organisations carried out an extensive search of office properties in the Newton Abbot area and agreed terms on these properties due to their location, layout and quality of accommodation.  These deals show there is certainly confidence in the market in office stock of this size.”

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Alder King’s project management and building consultancy team has completed a comprehensive refurbishment of a 10 year old office building on Bristol Business Park, bringing it up to current market standards.  Building 220 Bristol Business Park in North Bristol is now available to let through Alder King and JLL.

The 10,000 sq ft building underwent a £400,000 programme of works over a 14 week period, including new internal finishes and services, new air conditioning and ventilation systems as well as new high quality WC and shower facilities.

The two storey office building now offers the best quality office accommodation in north Bristol with excellent car parking ratios, says Alder King’s office agent Tom Dugay.

“There is a very real shortage of Grade A office accommodation in North Bristol,” he says.  “This building is one of the few refurbished grade A buildings in North Bristol and will help meet ever-strengthening demand in the North Bristol market.  We therefore expect the building to be well received by occupiers seeking well-located quality space.”

Bristol Business Park is one of the South West’s major business parks, with over 250,000 sq ft of high quality accommodation.  It immediately adjoins the UWE Campus and is just over a mile from the MoD site at Abbey Wood.   Building 220 is prominently situated on a self-contained plot fronting the main park road and offers 9,936 sq ft of accommodation over two floors with 48 car parking spaces.  It is available as a whole or on a floor by floor basis and is being offered at £19.75 per sq ft.

Alder King managed the refurbishment and repair contract on behalf of BEP Estates following the successful settlement of the dilapidations claim with the out-going tenant.

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Property consultancy Alder King has made two key new appointments in its Bristol office to meet growing demand for its services.

Jack Appleton has joined the firm’s rapidly-expanding planning team as a Senior Planner.  Jack has relocated to Bristol from London where he worked in both the public and private sector including Merton Council, Stiles Harold Williams and WS Planning Architecture.

Jack is initially focussing on Alder King’s growing number of student accommodation planning applications on behalf of regional and national developer clients.  Alder King acts for a number of student providers and has recently secured over 1,000 beds of accommodation in Cardiff, 480 in Bristol and is providing planning advice on sites in Hatfield, Nottingham, Newcastle and Reading.

Chris Shellard has been appointed as a Property Manager in Alder King’s Management Services team after seven years with St Modwen Developments where he was Estates Supervisor, responsible for property and facilities management across St Modwen’s South West and Wales portfolio.

In his new role, Chris’s primary responsibility is the proactive property and asset management of Unite Students’ commercial property portfolio, maximising the income streams and capital values of its 130-plus retail and leisure units across the UK.

Martyn Jones, senior partner of Alder King, said: “Our on-going programme of strategic recruitment continues to attract high calibre staff, enabling us to service an increasing list of clients.  Jack and Chris both bring valuable experience and expertise to two strong growth areas of our business and we’re delighted to welcome them to our team.”

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Acting on behalf of private clients, Alder King has successfully concluded lease negotiations on Unit 8 Wroughton Business Park, Wroughton to Diamond Logistics.  The estate is now fully occupied.

The property extends to circa 2,546 sq ft of modern end of terrace light industrial accommodation.  The property is in excellent condition and benefits from generous car parking and easy access.

Martin Baker of Alder King’s Swindon office commented: “Interest in the property was strong, due to its location and competitive quoting rent.  With the supply of industrial accommodation across the town reducing on an almost daily basis, it is perhaps not surprising it has been let so quickly.”

The property had a quoting rent of £14,000 per annum and has been let on a five year lease.

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Alder King, acting for The Freshwater Group in association with development consultants Total Property Solutions, has secured the letting of units 2 and 3 St Marychurch Court in Torquay to mydentist.

mydentist is part of Integrated Dental Holdings (IDH), Europe’s largest dental care provider and has a network of over 600 practices.

Lee Southan in Alder King’s Exeter office said: “The St Marychurch retail scheme offered mydentist an excellent opportunity to open a new practice in a central location.  This latest letting means there is only one unit remaining in the development.”

The premises comprised circa 3,000 sq ft (278.70 sq m) across two units.  A change of use was sought for the D1 user, allowing the premises to be let on a 15 year term.

The final unit is available on a new lease and offers 1,500 sq ft (139.35 sq m) of open plan retail space to a shell finish with incentives available.

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Alder King has today been named as Bristol’s Most Active Agent by leading property magazine Estates Gazette.  The Clifton-based firm won the award for completing the highest number of commercial property transactions in the city over the past 12 months.

Alder King was responsible for around 170 transactions in Bristol, including the high profile office lettings at 66 Queen Square and 2 Glass Wharf on behalf of Skanska and Salmon Harvester respectively.

Simon Price, partner and head of agency at Alder King, said: “Increased occupier demand, the return of speculative office and industrial development, and the on-going conversion of secondary offices to residential have all brought the city’s commercial property market back to life in a big way and we are delighted that our involvement in many of the city’s transactions – both large and small – has been recognised with this award.”

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This month, the UK’s leading regeneration specialist, St. Modwen, erected steel frames for the new 60,000 sq ft flagship DPD (UK) depot at its £210m Skypark scheme, situated to the north of Exeter Airport

Scheduled to complete in October 2015, the national express delivery service will employ 147 people at its new Devon based site. The depot is one of three units across the UK that St. Modwen is delivering for DPD (UK) with a 69,000 sq ft depot in Stonebridge Park, Liverpool and a 60,000 sq ft facility in Newcastle, Stoke-on-Trent.

The 1.4million sq ft Skypark Business Park, being developed in joint venture with partner, Devon County Council, can provide accommodation to meet specific occupier needs on a design and build basis for 20,000 to 200,000 sq ft of industrial space and 5,000 to 500,000 sq ft of office space. Businesses interested in design and build opportunities at Skypark should contact agents Jones Lang LaSalle or Alder King.

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Property consultants Alder King in Swindon have secured the long leasehold sale of Unit 58 Shrivenham Hundred Business Park to Wiltshire-based electrical contractor Abbey Electrical.

The company, which was established in 2005, will relocate to the property from Watchfield, with the larger premises providing room for growth over the next few years.

The property is a mid-terraced building with first floor offices offering well-appointed accommodation, together with ground floor meeting and workshop space.  Extending to circa 2,315 sq ft and benefitting from eight car parking spaces, the property had a guide price of £205,000.

Martin Baker of Alder King’s Swindon office said: “We received strong interest in this unit.  It was in good condition internally and externally and it benefits from local facilities and amenities within walking distance.  The calibre of the unit meant we were able to secure the disposal on behalf of our clients within six weeks of bringing it to the market.”

Alder King acted for Standard Life and private clients.  Abbey Electrical was unrepresented.

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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.”