Tags Posts tagged with "DTZ"

DTZ

90

Acting on behalf of Grade A Alternative, joint letting agents, DTZ and Cushman & Wakefield have secured two new tenants at St George’s House on Peter Street in Manchester city centre.  Investment company, DS7 has taken 4,100 sq ft and Kagool Digitial Solutions has taken 2,285 sq ft on the fifth floor.

The building is now 95% let with only one suite of 2,500 sq ft remaining.  Other tenants in the building include Red Star Financial, Stripes Solicitors and AFL Architects.

Grade A Alternative acquired the Grade 2 listed building, which totals 50,000 sq ft last year and has carried out a refurbishment to provide high quality Grade A office accommodation over seven floors.

Daniel Barnes, Surveyor in DTZ’s Manchester Office Agency team commented: “Boasting a superb location given the renaissance of St Peters Square and stunning accommodation, St George’s House has attracted considerable attention from companies looking for quality accommodation in the city centre. We are delighted to have been part of the team involved in its continued success.”

68

Engineering consultancy, Waterman Group has taken new office premises in the heart of Birmingham’s central business district.

The company has taken 4,642 sq ft of grade A office space on the fifth floor of One Cornwall Street in the city centre on a 10 year lease. DTZ and Savills acted on behalf of the landlord, clients of AXA Real Estate to agree the deal.

One Cornwall Street occupies a central position within the Colmore Business District, Birmingham’s business and professional quarter. The building underwent refurbishment in 2012 and includes raised floors, air conditioning and LG7 lighting.

Andrew Berry, Associate Director in DTZ’s Office agency team commented: “One Cornwall Street continues to offer flexible office space within an unrivalled location and we are delighted to welcome Waterman Group.”

Waterman Group is a multi-disciplinary consultancy providing sustainable solutions for the property, infrastructure, environment and energy markets. The company has 13 regional offices across the UK and were previously based at serviced office accommodation at Colmore Plaza.

Graham Hiscocks from Waterman Group commented on the move: “As part of our plans to develop our business within Birmingham and the West Midlands, we required larger premises in a central location. One Cornwall Street offers us the high quality space we have been looking for, with room to support our anticipated growth. We are excited about the move to our new office.”

Completed UK shopping centre investment transactions totalled £974.45 million across 22 shopping centres in Q2 2015 bringing the half-yearly total to £2.17bn, according to research published by DTZ.

A further £919m of shopping centres are currently under offer with approximately £1.2bn of assets available or being prepped for market.

During Q2 2015, investors sought out greater value in secondary and tertiary stock outside London, with 86% of the total volume transacted regionally.

Transaction volumes are set to reach similar volumes as those witnessed in 2014 with a number of large lot size shopping centres coming to the market this year. Perhaps the most anticipated is the new shopping centre, Grand Central Birmingham, set to open in September this year. DTZ is advising on the sale on behalf of Birmingham City Council and Network Rail with the scheme marketed at offers in excess of £260m.

Table: Key investment transactions for Q2 2015

Barry O’Donnell, Head of Shopping Centre and Outlet Investment, said: “Demand for investment stock remains exceptionally strong. The positive news for investors is that supply is now beginning to meet these high levels of demand with more than £2.1bn of shopping centre stock either under offer, available or being prepped for market. With a number of large lot sizes coming to the market we expect even higher transaction volumes in the second half of the year with year-end figures estimated to reach 2014 levels.”

Super prime and prime yields have remained stable at 4.25% – 4.50% and 5.25% respectively but are trending in. Secondary, dominant secondary and tertiary have all hardened 25bps over the quarter to 6.25%, 7.75% and 8.25% respectively.

The occupational market has continued to improve as retail sales saw the 26th month of consecutive year-on-year growth and the consumer confidence index at its highest level for almost 15 years.

Jonathan Rumsey, Head of Retail Market Analysis at DTZ, said: “Retail sales as measured by the ONS have seen 26 months of consecutive year-on-year growth, the longest sustained period of growth since 2008. Low inflation, rising employment and real wage growth have led GfK’s consumer confidence index levels to rise to a level not seen since the turn of the century, while vacancy rates remain at their lowest since 2010.

“Additionally, the list of retailers looking for new space continues to grow, with occupiers such as Jessops, David’s Bridal, Tapi Carpets, Kiko Milano and a plethora of casual dining operators announcing their ambitious expansion plans. This all adds up to a very positive outlook for investors able to secure the right assets.”

71
Phil Glenn, Valuation Director in DTZ’s Nottingham office

Completed UK shopping centre investment transactions totalled £974.45 million across 22 shopping centres in Q2 2015 bringing the half-yearly total to £2.17bn, according to research published by DTZ.

A further £919m of shopping centres are currently under offer with approximately £1.2bn of assets available or being prepped for market.

During Q2 2015, investors sought out greater value in secondary and tertiary stock outside London, with 86% of the total volume transacted regionally.

Transaction volumes are set to reach similar volumes as those witnessed in 2014 with a number of large lot size shopping centres coming to the market this year. Perhaps the most anticipated is the new shopping centre, Grand Central Birmingham, set to open in September this year. DTZ is advising on the sale on behalf of Birmingham City Council and Network Rail with the scheme marketed at offers in excess of £260m.

Phil Glenn, Valuation Director in DTZ’s Nottingham office commented: “The major cities in the East Midlands have all seen investment in their shopping centres in recent years and this continues with the likes of Intu’s ongoing improvements to the Victoria Centre in Nottingham. This, coupled with improved retail sales due to consumer confidence, lower retail failures and improved occupier demand in certain sub-sectors such as casual dining has contributed to a more positive regional retail picture. As a result we would anticipate strong demand for prime or secondary centres in line with the national picture. The lack of stock continues to be a challenge for investors.”

Barry O’Donnell, Head of Shopping Centre and Outlet Investment, said: “Demand for investment stock remains exceptionally strong. The positive news for investors is that supply is now beginning to meet these high levels of demand with more than £2.1bn of shopping centre stock either under offer, available or being prepped for market. With a number of large lot sizes coming to the market we expect even higher transaction volumes in the second half of the year with year-end figures estimated to reach 2014 levels.”

Super prime and prime yields have remained stable at 4.25% – 4.50% and 5.25% respectively but are trending in. Secondary, dominant secondary and tertiary have all hardened 25bps over the quarter to 6.25%, 7.75% and 8.25% respectively.

The occupational market has continued to improve as retail sales saw the 26th month of consecutive year-on-year growth and the consumer confidence index at its highest level for almost 15 years.

Jonathan Rumsey, Head of Retail Market Analysis at DTZ, said: “Retail sales as measured by the ONS have seen 26 months of consecutive year-on-year growth, the longest sustained period of growth since 2008. Low inflation, rising employment and real wage growth have led GfK’s consumer confidence index levels to rise to a level not seen since the turn of the century, while vacancy rates remain at their lowest since 2010.

“Additionally, the list of retailers looking for new space continues to grow, with occupiers such as Jessops, David’s Bridal, Tapi Carpets, Kiko Milano and a plethora of casual dining operators announcing their ambitious expansion plans. This all adds up to a very positive outlook for investors able to secure the right assets.”

75

Acting on behalf of their clients Frank Marshall Estates, DTZ has secured Excel Automotive Group’s move to New Court in Normanton.

Excel Automotive Group has taken circa 14,000 sq ft of industrial space on a ten and a half year lease at the recently refurbished New Court and relocated from its existing 8,000 sq ft unit within the Normanton Business Park.

The company provides specialist automotive components to the industry and has recently been purchased by Martin Butterworth and Adrian Lamb, following incorporation in 2003 and successful trading for well over a decade. The company are only one of two suppliers of Brembo Racing Brakes in the UK.

The move will mean that the company is located within a prime industrial location with key prominent frontage on to Mildred Sylvester Way.

DTZ acted alongside joint agents, Dove Haigh Phillips on behalf of Frank Marshall Estates to secure the ten and a half year lease. Following the letting of units 2 – 4, circa 22,000 sq ft remains at the industrial estate.

Scott Morrison, Senior Surveyor in the Yorkshire Industrial and Logistics team at DTZ, comments: “At a time when levels of supply for good refurbished space are low, New Court provides fantastic space in a prime industrial location within Normanton. Recently refurbished, the presentation and quality of the unit together with excellent access to the national motorway network provided the perfect fit for Excel to make a long term commitment in Normanton and continue to organically expand their business. We are delighted to land such a dynamic business which has such clear growth aspirations for the coming years.”

Mike Haigh, Partner at Dove Haigh Phillips comments: “This is an excellent letting for Frank Marshall Estates which now only leaves 21,990 sq ft of space available, again refurbished to a high standard having the benefit of excellent parking and yard provisions, as well as a 600 KVA power supply.”

Martin Butterworth, Managing Director of Excel Automotive Group added: “With great support from DTZ and Frank Marshall Estates, we’ve managed to execute our full move in weeks as opposed to months. We now have the space we need to move forward and have created a great working environment. The offices which were built to our specification are modern and light creating a positive place for both employees and our clients.

Generally these processes can be fraught with stress, delays and problems but I can honestly say through the support of all concerned and a lot of hard work we have achieved our goals ahead of schedule and did not lose a day of trading.”

66

The Bristol office of DTZ has recruited Chris Hays to head up a new town planning team that will provide consultancy services across the South West. Chris’ role will involve developing DTZ’s town planning profile and portfolio across the region and nationally.

A Chartered Town Planner with 16 years’ experience, Chris is also a member of the Institute of Historic Building Conservation. His particular areas of expertise include retail planning, regeneration, environmental impact assessment, expert witness, and historic building conservation.

He joins from global consultancy, WYG, where he worked in its planning/project management teams based in Bristol and Swindon.

Chris Hays commented: “Regionally and nationally, the DTZ town planning skill has grown in stature and strength over the past few years, securing major blue chip private and public sector clients, and becoming increasingly recognised as a key component of DTZ’s business growth ambitions. With positivity growing in the market place and town planning’s prominence at the front end of the development process, this is an exciting time for such a move.”

Tim Davis, Head of the Bristol office, commented: “Chris brings a wealth of experience and a great track record with clients to this exciting role. This is an important part of the continued expansion of the Bristol office and its service offer and is the second Director level appointment in the last nine months.”

DTZ’s planning experience covers all major property sectors including residential, commercial, industrial, health, retail, education, and heritage and is delivered by specialist teams represented across each region, providing comprehensive service coverage throughout the UK.

90

DTZ has welcomed 35 interns to its summer internship programme in the last week, the company’s largest ever intake.

The group are working across DTZ’s offices in London (Old Broad Street and Curzon Street), Paris, Edinburgh, Glasgow, Leeds, Manchester, Birmingham, Cardiff and Bristol. Interns who excel on the programme could secure a permanent role in September 2016 once they have completed their studies.

Yasemin McClelland joins the Glasgow office and Henrietta Wilson joins in Edinburgh.

DTZ’s summer internship programme runs for six to eight weeks and kicked off last week with an induction at the company’s Old Broad Street office in London.

As well as gaining an overview of life at DTZ, each of the 35 interns will work on a specific project for the duration of their placement. During the last week of their internship they will make a presentation on their project which will form part of their assessment for the Graduate Development Programme.

Colin Wilson, DTZ’s Head of UK and Ireland, said: “We have widened access to our internship programme once again and it is fantastic to see so many talented undergraduates working alongside us across the business.

“The programme has a proven track record of identifying young talent for the future of our business while providing an increasing number of undergraduates with valuable first-hand experience of the variety of careers our industry has to offer.”

Last month DTZ was rated number 33 in the Top 100 Companies for Graduates To Work For. Based entirely on feedback from graduates, the ranking placing DTZ ahead of the likes of Unilever, Morgan Stanley, GSK, JLL and Savills.

Catherine Kilpatrick, Graduate Recruitment Specialist, at DTZ, said: “Attracting and developing the brightest young talent is essential to securing the future of our business and accolades like being rated one of the top graduate workplaces are a clear sign we are moving in the right direction. The interns currently with us now are experiencing that same fantastic working environment and we very much hope they will be with us for a lot longer than their placement this summer.”

In September this year 56 new graduates will be joining DTZ’s graduate programme. The company is also widening access to the profession via alternative routes such as apprenticeships to ensure a highly skilled and diverse workforce.

110
Robert Parr-Head, Director and Head of Valuation at DTZ Bristol

Prices for all European commercial real estate grew by 4.1% quarter-on-quarter in Q1 2015, according to a report out from DTZ.

Growth in the 12 months to end of Q1 2015 totaled 16% with the UK seeing the largest increase with 26%. While lagging behind the UK, growth on the Continent is now accelerating with prices 10% higher than a year ago which represents the strongest recovery since 2010.

Price increases have been driven by increasing demand for assets as investors find it increasingly difficult to secure prime property. Another factor has been investment activity moving beyond core markets.

Nigel Almond, Head of Capital Markets research at DTZ, said: “Our latest investment figures show that investment is broadening with more repeat sales in Italy, the Netherlands and Spain. There has also been more activity away from the major cities in both France and Germany.

“Across Europe, nearly two-thirds of assets sold in Q1 had previously been sold since 2008 and, of these, close to 70% showed an increase in prices. We might also be seeing an element of profit taking, especially from investors who acquired at the low point in the cycle.”

Alongside the UK’s strong annual price growth, prices in Q1 were 5% higher quarter-on-quarter. The strength in prices follows record investment in the UK over the past twelve months and the strongest Q1 on record.

Markets outside London show the largest price movements and the strongest increase in investment activity. Prices for all property outside London rose 27% year-on-year. London’s annual price growth slowed to 21% in Q1 2015, compared with 23% in the previous quarter. Quarter-on-quarter growth slowed to just 0.2% in Q1 2015.

Robert Parr-Head, Director and Head of Valuation at DTZ Bristol commented:  “The South West property market has shown strong rental and capital growth over the last 18 months, driven by a combination of a shortage of stock and increased demand from tenants and owner occupiers. Whilst the growth has been dominated by the Office and Industrial sectors, there is also increased investor demand for the Retail sector, again underpinned by greater confidence in the occupier market.”

Nigel Almond added: “Despite the rapid increases we are seeing regionally, the index for the UK excluding London is still more than 20% below the peak of the market in 2007. That indicates that there remains potential for further value recovery.

“In London, investment activity remains strong at over £20bn on an annual basis, and while there is price appreciation it is moderating. With prices in London now 25% higher than they were in the previous cycle, compared to the European average of 14% lower, investors are showing greater caution. Despite this, relative to other assets Central London offices still look attractive, especially to overseas investors where pricing remains competitive in what is the most liquid market globally.”

86
Jonathan Crawford, Director in DTZ’s Valuation team in Birmingham

Prices for all European commercial real estate grew by 4.1% quarter-on-quarter in Q1 2015, according to a report out from DTZ.

Growth in the 12 months to end of Q1 2015 totaled 16% with the UK seeing the largest increase with 26%. While lagging behind the UK, growth on the Continent is now accelerating with prices 10% higher than a year ago which represents the strongest recovery since 2010.

Price increases have been driven by increasing demand for assets as investors find it increasingly difficult to secure prime property. Another factor has been investment activity moving beyond core markets.

Nigel Almond, Head of Capital Markets research at DTZ, said: “Our latest investment figures show that investment is broadening with more repeat sales in Italy, the Netherlands and Spain. There has also been more activity away from the major cities in both France and Germany.

“Across Europe, nearly two-thirds of assets sold in Q1 had previously been sold since 2008 and, of these, close to 70% showed an increase in prices. We might also be seeing an element of profit taking, especially from investors who acquired at the low point in the cycle.”

Alongside the UK’s strong annual price growth, prices in Q1 were 5% higher quarter-on-quarter. The strength in prices follows record investment in the UK over the past twelve months and the strongest Q1 on record.

Markets outside London show the largest price movements and the strongest increase in investment activity. Prices for all property outside London rose 27% year-on-year. London’s annual price growth slowed to 21% in Q1 2015, compared with 23% in the previous quarter. Quarter-on-quarter growth slowed to just 0.2% in Q1 2015.

Jonathan Crawford, Director in DTZ’s Valuation team in Birmingham comments: “The confluence of confidence, occupier demand, dwindling stock, weight of funds and realistic return aspirations means that property is an asset class that is of interest to a myriad of purchasers. In the West Midlands, secondary property pricing is being fuelled from a number of sources, evidenced by our research that looks set to be robust for at least the medium term.”

Nigel Almond added: “Despite the rapid increases we are seeing regionally, the index for the UK excluding London is still more than 20% below the peak of the market in 2007. That indicates that there remains potential for further value recovery.

“In London, investment activity remains strong at over £20bn on an annual basis, and while there is price appreciation it is moderating. With prices in London now 25% higher than they were in the previous cycle, compared to the European average of 14% lower, investors are showing greater caution. Despite this, relative to other assets Central London offices still look attractive, especially to overseas investors where pricing remains competitive in what is the most liquid market globally.”

82
Richard Brooke, Senior Surveyor in DTZ’s Leeds Investment team

Prices for all European commercial real estate grew by 4.1% quarter-on-quarter in Q1 2015, according to a report from DTZ.

Growth in the 12 months to end of Q1 2015 totaled 16% with the UK seeing the largest increase with 26%. While lagging behind the UK, growth on the Continent is now accelerating with prices 10% higher than a year ago which represents the strongest recovery since 2010.

Price increases have been driven by increasing demand for assets as investors find it increasingly difficult to secure prime property. Another factor has been investment activity moving beyond core markets.

Nigel Almond, Head of Capital Markets research at DTZ, said: “Our latest investment figures show that investment is broadening with more repeat sales in Italy, the Netherlands and Spain. There has also been more activity away from the major cities in both France and Germany.

“Across Europe, nearly two-thirds of assets sold in Q1 had previously been sold since 2008 and, of these, close to 70% showed an increase in prices. We might also be seeing an element of profit taking, especially from investors who acquired at the low point in the cycle.”

Alongside the UK’s strong annual price growth, prices in Q1 were 5% higher quarter-on-quarter. The strength in prices follows record investment in the UK over the past twelve months and the strongest Q1 on record.

Markets outside London show the largest price movements and the strongest increase in investment activity. Prices for all property outside London rose 27% year-on-year. London’s annual price growth slowed to 21% in Q1 2015, compared with 23% in the previous quarter. Quarter-on-quarter growth slowed to just 0.2% in Q1 2015.

Richard Brooke, Senior Surveyor in DTZ’s Leeds Investment team comments: “The weight of money continues to chase the region’s prime assets. Increased competition, from a diverse buying audience, has resulted in further yield compression and increased property values. We are also starting to see demand spill out to the Yorkshire’s secondary markets as buyers look to move up the risk curve. Pricing for both prime and secondary assets remain below the 2007 peak and so there is plenty of opportunity to generate further capital appreciation, particularly with the prospect of rental growth being forecast across the major asset classes.”

Nigel Almond added: “Despite the rapid increases we are seeing regionally, the index for the UK excluding London is still more than 20% below the peak of the market in 2007. That indicates that there remains potential for further value recovery.

“In London, investment activity remains strong at over £20bn on an annual basis, and while there is price appreciation it is moderating. With prices in London now 25% higher than they were in the previous cycle, compared to the European average of 14% lower, investors are showing greater caution. Despite this, relative to other assets Central London offices still look attractive, especially to overseas investors where pricing remains competitive in what is the most liquid market globally.”