Latest News

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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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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Unique city centre leisure opportunity available in Newcastle

Published on: 7th April 2017 A unique city centre restaurant/leisure opportunity has come on the market on Nelson Street in Newcastle. The listed building forms part of the historic Grainger Market and comprises of a leisure unit at basement level, ground floor lobby, and 7,500 sq ft of upper floor space, which is currently used as offices. Agent on the property, Mark Convery commented, “This is a brilliant opportunity for a new restauranteur/leisure operator to open, in what is fast becoming one of Newcastle’s most prominent areas for dining and drinking.

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North West Agency Update

Published on: 5th April 2017 In recent months our team in the North West have completed a series of property disposals worth over £1.6million on behalf of Cheshire East Council. The sales have included four residential development sites, the former Ethel Elks and Hilary Day Care Centres, a former Women’s Refuge Centre and the Grade II Listed Park Green Registar’s Office. We have also sold Oldham office building, Ashwood House for £400,000 to the Immigration Advice Service. This was the most recent acquisition for the Immigration Advice Service, which have 21 other offices across the UK.

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Brand new industrial units and offices available to let in County Durham

Published on: 4th April 2017 Development of 12 brand new industrial and office units is scheduled to begin at Hownsgill Industrial Park, a well-established commercial area in Consett, County Durham. The first phase will see the completion of two high specification industrial units and two self-contained office buildings, with associated parking, available to let on flexible lease terms.

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April Deals Update

Published on: 4th April 2017 In March we were named as the most active commercial property agency in the North East by Estates Gazette. Our Newcastle and Teesside offices were awarded the title for transactions completed in 2016, totalling over 1.8million sq ft of commercial property let or sold in the region. On March 1st a landmark business rates ruling by the UK Supreme Court stated that properties could be given a nominal £1 rateable value, on the grounds that is undergoing significant refurbishment which restricts it from being a functional space. Our rating team first started work on the S J and J Monk v Newbigin case in 2013, so welcomed the decision from the Supreme Court. Our specialist caravan and holiday parks team completed a number of deals in March, including the sale of a 43-acre holiday park in Northumberland that was marketed off a guide price of £5.5million. They also sold parks in Plas Newydd, North Wales and Kirkby Stephen in Cumbria off guide prices of £1.295million and £800,000 respectively. Our team in the North East has a number of properties currently available, including 4,000 sq ft of office space at Preston Farm Business Park, a prominent car sales unit in Darlington and a number of Newcastle City Centre offices at St James Gate, One Trinity Gardens and on Grey Street, just down the road from our offices. 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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