Latest News

High specification industrial unit available to let in Durham

Published on: 21st June 2017 A brand new industrial unit is available to let at Aycliffe Business Park in Newton Aycliffe, County Durham. Aycliffe Business Park is a large and established commercial location with junction 59 of the A1 (m) less than a mile away and Darlington town centre just 6 miles south of the park. The 19,460 sq ft property is set on a large site with a generous external yard area and on-site parking. Potential occupiers will be in great company with over 250 companies occupying units at the business park, creating a community of over 8,000 employees.

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Expert witness evidence provided on behalf of Great Yarmouth Port Authority

Published on: 20th June 2017 Following our instruction by independent law firm, Burges Salmon we provided expert witness evidence on behalf of Great Yarmouth Port Authority for the second round of a £15 million claim by Bourne Leisure in relation to the alleged loss of value to a caravan park. Bourne Leisure claimed that the construction of the new Outer Harbour at Great Yarmouth, which extends 600m out into the North Sea, caused the erosion of Hopton Beach, Norfolk which had adversely impacted their business. With long standing pre-existing coastal erosion issues facing the East Coast, this was a particularly complex case brought under Section 10 of the Compulsory Purchase Act 1965 which involved a variety of professionals including coastal process, legal and valuation experts.

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Three hotels sold in Southport

Published on: 19th June 2017 Our Manchester asset advisory and recovery team has recently sold three hotels in Southport, one of the north west’s most popular seaside towns. Southport is a large seaside town in Merseyside that lies on the Irish Sea coast and is just over 16 miles north of Liverpool and 15 miles south west of Preston. Two of the three properties are located on Bath Street and are both three storey guest houses with 10 and 13 bedrooms respectively. The final property is located on Victoria Street and provides accommodation for 12 occupiers across four floors, with an additional self-contained two bedroom flat.

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Caravan park market's buoyant trading conditions enables raft of sales

Published on: 16th June 2017 The caravan park market continues to capitalise on buoyant trading conditions with our specialist caravan and holiday park teams agreeing in excess of £40M worth of sales over the past nine months. The sales, which have been agreed on 24 parks across the UK, include all types of caravan parks, from ‘lifestyle’ touring and camping parks to large static and residential mobile home parks. The biggest sale saw Maguires Country Parks acquire a 43-acre, 240 pitch site in Bamburgh, Northumberland with further potential. Other sales include Hook Farm Caravan and Camping Park in Dorset, offered for sale at £2.5m and Penlan Holiday Village in Carmarthenshire, marketed with a guide price of £1.1m. Adam Burkinshaw, partner in our York office commented, “Caravan parks have always been seen as very resilient businesses capable of surviving ups and downs in the economy. The unexpected shock of Brexit appears to have had a positive effect as the fall in the value of sterling has made UK holidays even better value for money. The majority of holiday parks reported improved trading figures in 2016, with only a partial impact from the effect of Brexit, as most holidays had already been booked by the time the referendum was held. “It is reasonable to expect these buoyant trading conditions to continue, which will further underpin the value of parks and demand for well performing businesses.

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Society for deaf and blind people purchase Leeds office building

Published on: 15th June 2017 The Leeds Society for Deaf and Blind People has purchased the former Leeds Diocesan office building on St Mary’s Street in Leeds. The charity, which responds to the needs and aspirations of deaf, hard of hearing, blind and partially sighted people throughout Leeds, will be using the property for social activities and the development of its services. The 4,600 sq ft building, which is located close to the bus station and the new Victoria Gate shopping destination, was sold by our Leeds office, acting on behalf of the Diocese of Leeds.

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Going, going, gone

Published on: 14th June 2017 Mark Weston, partner in our machinery and business assets department explores the rise of online auctions and how they can facilitate greater returns. It is not unusual for companies to have unwanted or unused plant and equipment. For some it may be the result of voluntarily closing the business for retirement, whilst others may be introducing new methods of operation resulting in surplus equipment.  For decades, contractors have taken advantage of various methods of sale to dispose of such equipment and raise capital for reinvestment in new machinery, property or other assets. The most important thing of course is to find the best method to generate the highest returns – which is why it becomes important to enlist the services of a specialist machinery and business asset surveyor. Surveyors will have not just the knowledge, but also the insight and contacts to generate the highest possible price for sellers. Based on a wide range of factors including demand, condition, location and estimated value, they may use those relationships to arrange a private sale, or they may opt to sell in an auction.

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Preston Farm Industrial Estate unit sold to investor above asking price

Published on: 13th June 2017 Acting on behalf of a private landlord, our Teesside agency team has sold a 7,800 sq ft industrial warehouse unit in Preston Farm Industrial Estate to local investor, SCS structures. The unit, which is located in one of Teesside’s premier commercial locations, is set to be refurbished and offered back on to the market to let. It was sold for £360,000, £10,000 over asking price, and at £45 per sq ft.

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Wakefield Office Sale

Published on: 12th June 2017 Acting on behalf of the Joint Administrators at BWC Business Solutions, our Asset Advisory team in Leeds has sold No. 18 Appleton Court at Calder Park, Wakefield to a private investor. The 1,853 sq ft office building provides two floors of modern, mainly open plan accommodation and benefits from having 8 car parking spaces. Neil Bestwick, a partner in our Asset Advisory team commented, “We’re pleased to have completed the sale of this office property which has generated a healthy level of interest given its suitability for both owner occupation and investment purposes together with its modern, well specified fit out.

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Riverside offices let to Newcastle architects following their expansion

Published on: 9th June 2017 Acting on behalf of ACE, our North East agency team has let an office space at Newcastle Business Park to local architects Sadler Brown. The 1,015 sq ft office building is located at Riverside Studios, on the Northern bank of the River Tyne approximately half a mile to the West of Newcastle City Centre. The Sadler Brown Group agreed the deal following the recent announcement of their acquisition of Anthony Keith Architects, another Newcastle based architecture firm. Charlotte Marshall, agent in our Newcastle office commented, “We are pleased to have secured the Sadler Brown Group as a tenant for ACE at Riverside Studio following significant interest in the property.

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