Latest News

What tenants need to know about dilapidations

Published on: 28th April 2017 Most commercial tenants will encounter dilapidations during or after a lease, as landlords look to restore their properties to the condition they were in when the lease began. Martin Smith, building consultant, explains what dilapidations are and what as a tenant you need to know. "Tenants are often unfamiliar with the process and their responsibilities, including the reversal of alterations made to bars and restaurants, and repair and maintenance of the building itself. "Landlords can therefore recover costs incurred to repair and reinstate the property after the lease period ends. This includes the cost of work required to remove fixtures, fittings and aesthetic touches added by tenants, which can be significant and subsequently reduce the capital tenants can spend on new ventures.

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Leeds office take-up rises in Q1 of 2017

Published on: 26th April 2017 View our Leeds Offices Market Update for Q1 2017. The Leeds office market take-up in Q1 stood at 160,679 sq ft which reflected a 22,055 sq ft increase on the preceding quarter. In Leeds city centre, take-up totalled 104,936 sq ft, across 22 transactions. There were two significant lettings over 20,000 sq ft with the largest city centre transaction being the letting of 25,985 sq ft at 5 Wellington Place to Willis Towers Watson. The other letting of note being BW Legal’s acquisition of 1 Apex View for their sole occupation.

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Prime industrial unit available in North Shields

Published on: 25th April 2017 A 22,775 sq ft industrial unit, located in Tyne Tunnel Trading Estate, North Shields, is now available to let by way of a sublease. Strategically located in the commercial hub of North Tyneside, Tyne Tunnel Trading Estate is an established industrial estate, which is a prime location for businesses thanks to the ease of access to the North East’s major road networks. The property is a modern, high quality detached industrial unit with 20,571 sq ft of warehouse accommodation and 2,204 sq ft of office space.

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Annual review published

Published on: 24th April 2017 It was dubbed the year of the political earthquake, with the shockwaves felt by the US Presidential Election and ‘Brexit’ setting the economic tone for 2016. The UK commercial property market was undoubtedly impacted by the uncertainty surrounding ‘Brexit’, but there are many reasons why we left 2016 feeling positive. Take up across our major cities remains strong and investors continue to find profitable opportunities in UK commercial property. Our cities also continue to transform, with exciting developments creating new places and spaces for us to live, work and play. Click here to read our 2016/17 annual review.

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A66 dual carriageway between Penrith and Scotch Corner

Published on: 17th April 2017 Plans to upgrade the A66 were announced by the Government as part of the seconds Roads Investment Strategy. The plans will see the A66 upgraded to a dual carriageway between Penrith and Scotch Corner. The five single carriageways which will be focused on are: Penrith to Temple Sowerby Temple Sowerby to Brough Brough to Bowes Bowes to Greta Bridge Greta Bridge to Scotch Corner As a result of the dual carriageway, businesses and residents who own or occupy a property along the route may be required to vacate their property. If you receive a compulsory purchase order from the council, you are entitled to receive advice from an independent specialist.

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Why use a property professional to advise on your office move?

Published on: 13th April 2017 Moving office can be a challenging and complex process. From pulling together your relocation plan, to finding the right property and negotiating your lease, there are many elements to an office move that you will need to get expert advice on. Appointing the right property advisor will help you save time and money on your office move, and allow you to stay focused on running your business.

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Cambrian Park and Leisure Homes Ltd sold out of administration

Published on: 11th April 2017 North Wales based Cambrian Park and Leisure Homes Ltd has been sold out of administration to Porthmadog holiday company, Cambrian and Sovereign Holding Group Ltd. The new company was set up by owners of the Coventry based company Sovereign Park and Leisure Homes in an attempt to preserve the brand and protect the jobs of staff at the luxury holiday homes and lodges manufacturer. FRP Advisory acted as the administrators for the company and worked on an accelerated sales process in early February, which led to competing offers for the business and assets.

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Prominent industrial unit available near Leeds city centre

Published on: 10th April 2017 A 9,057 sq ft trade counter/light industrial unit, located just half a mile from Leeds city centre, is available to let. The unit occupies a prominent position on the North side of Sydenham Street, a road linking the A58 to the A643 dual carriageway. The large unit comprises a ground floor warehouse of 8,379 sq ft and a brick built two storey office section, with 339 sq ft office space on both the ground and first floor. Outside is a secure yard and parking area, which has ample room to turn large vehicles into one of the two loading bay areas.

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North East Agency Update

Published on: 7th April 2017 At the beginning of March we were named as the most active commercial property agency in the North East by Estates Gazette. We were awarded the title for transactions completed in 2016, a total of over 1.8million sq ft of office, retail and industrial space let or sold in the region. Our specialist holiday and caravan park team sold a 43-acre holiday park in Bamburgh, Northumberland to Maguires Country Parks. The family run business has purchased the Northumberland site, which was formerly operating as The Kaims Bamburgh, and was marketed asking offers in excess of £5.5million. Acting as retail agents we have also helped secure a major new anchor unit at the Royal Quays Outlet in North Shields, the new space, situated on the main car park of the centre, has been innovatively created using a large inflatable dome structure.

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