Case Study: Former British Railway Board site sold to Education Funding Agency

Published on: 22nd June 2016

Our Corporate Real Estate department has been instrumental in the sale of a 25,000 sq ft former British Railway Board site in Derby, to the Education Funding Agency acting on behalf of Al Madinah School.

Formerly used by the British Railway Board as a site to develop railway technologies, prior to its privatisation in the 1990s, the Faraday and Harley House site includes a mixture of both clerical and industrial buildings.

London and Continental Railways' property manager, Steve White, said: “We’re delighted with the terms of sale Sanderson Weatherall was able to achieve for the Faraday and Harley House site.
 
“The buildings have a long history and it’s great to know they’re being repurposed as a school, a move that will keep the building occupied for many more years to come.”
 
Luke Barrett, associate partner in our Corporate Real Estate team said: “The sale of Faraday and Harley House site presented some interesting obstacles to overcome. The property is unusual, being a mix of office, lab and workshop space, and having quite a basic specification meaning the market on the basis of the existing use was quite limited. However, the property has attributes making it very well suited for a school and I’m delighted that Al Madinah School has located a property that matches its requirements so well.
 
Faraday and Harley House is currently being refurbished ahead of Al Madinah School opening its doors at the start of the 2016/17 academic year, in September.

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Corporate Real Estate

Sanderson Weatherall offers a “one stop shop” for the corporate occupier, providing them with a single point of access to a fully co-ordinated range of skilled and specialist services. This can range from undertaking a single, specific instruction to a comprehensive outsourcing service, encompassing all property advice. For our major corporate clients we design a bespoke package tailored to meet their particular business needs and individual requirements. Our Services Include: Strategic Management Business planning at a strategic level including rationalisation/relocation Assessing the impact of property decisions on business and profitability Minimising occupation costs and maximising operational flexibility Outsourcing Comprehensive and co-ordinated service for all advice From a complete portfolio to a single property instruction Professional Services Asset management and enhancement Valuations for company accounts, MBO’s, raising finance, taxation, rating, etc Rent reviews, lease renewals and lease monitoring and restructuring Acquisitions and Disposals Property searches, market overviews and research Investigation of alternative uses and marketing of surplus property A fully co-ordinated “turn-key” service for the development of new operational facilities including site identification, planning, building design and construction.   Contact Us

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Sanderson Weatherall offers a “one stop shop” for the corporate occupier, providing them with a single point of access to a fully co-ordinated range of skilled and specialist services. This can range from undertaking a single, specific instruction to a comprehensive outsourcing service, encompassing all property advice.

For our major corporate clients we design a bespoke package tailored to meet their particular business needs and individual requirements.

Our Services Include:

Strategic Management

  • Business planning at a strategic level including rationalisation/relocation
  • Assessing the impact of property decisions on business and profitability
  • Minimising occupation costs and maximising operational flexibility

Outsourcing

  • Comprehensive and co-ordinated service for all advice
  • From a complete portfolio to a single property instruction

Professional Services

  • Asset management and enhancement
  • Valuations for company accounts, MBO’s, raising finance, taxation, rating, etc
  • Rent reviews, lease renewals and lease monitoring and restructuring

Acquisitions and Disposals

  • Property searches, market overviews and research
  • Investigation of alternative uses and marketing of surplus property
  • A fully co-ordinated “turn-key” service for the development of new operational
  • facilities including site identification, planning, building design and construction.

 

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Deal brokered for both the Diocese of Leeds and Leeds Mencap

Acting on behalf of the Diocese of Leeds, we have sold a vacant development site to Leeds Mencap, an independent local charity which supports children and adults with learning disabilities.

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Acting on behalf of the Diocese of Leeds, we have sold a vacant development site to Leeds Mencap, an independent local charity which supports children and adults with learning disabilities.

[fulltext] =>

The new site, which is located on Vinery Terrace/Raincliffe Road just off the A64 East of Leeds City Centre, has enabled it to create a new purpose built building, providing over 9,000 sq ft of specialist accommodation and much-improved facilities.

Once Leeds Mencap had exchanged on the new site, and whilst working to obtain planning consent for the build, it appointed us to find a buyer for its former building charity centre in East End Park. We were able to quickly find a buyer for the building and synchronise the transaction so that it completed only once Leeds Mencap had relocated to the new Vinery Centre.

Loretta Jones, head of fundraising at Leeds Mencap, said: “This fantastic new building provides us with the opportunity to expand our services over time and as Sanderson Weatherall was able to secure us a buyer for our former site, it helped contribute to the necessary funding to make the move viable.

“Our fundraising efforts now focus on raising money for our services and if we can continue to secure support, we will be able to work towards meeting the needs of more people with learning disabilities.”

Leeds Mencap provides services and activities to improve the lives and opportunities of children and adults with a learning disability along with their families and carers. The charity currently supports over 250 families on a weekly basis and aims to provide support, advice and practical help for the whole family, long term.

In addition to these services, the new centre also supports the local community by providing nursery places for local children and hires spaces for a wide range of local community groups including a variety of learning disability organisations.

Luke Barrett, associate partner in our corporate real estate team said: “We are delighted to firstly have achieved a successful sale for the Diocese of Leeds and once it had exchanged, to have been asked by the purchaser, Leeds Mencap, to dispose of their existing property. This was sold to the Machimmaram Thai Community and will be used as a community centre. We appreciate their patience and cooperation in agreeing to exchange with a delayed completion, which meant Leeds Mencap could remain in place until their new property was ready to occupy.”

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Network Rail powers up RTC business park in Derby's largest office deal

Network Rail has chosen to base a new maintenance project at the RTC Business Park in Derby, thanks to a letting completed by us on behalf of London and Continental Railways Limited. In one of the largest single office transactions in Derby in recent years, Network Rail has leased 15,818 sq ft in Brunel House for a five year term.

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Network Rail has chosen to base a new maintenance project at the RTC Business Park in Derby, thanks to a letting completed by us on behalf of London and Continental Railways Limited.

In one of the largest single office transactions in Derby in recent years, Network Rail has leased 15,818 sq ft in Brunel House for a five year term.

[fulltext] =>

The space is required to facilitate an electrification and re-signalling infrastructure project on the UK railway mainlines. Network Rail is a responsible for running, maintaining and developing Britain’s rail tracks, signalling, bridges, tunnels, level crossings, viaducts and 18 key stations.

London and Continental Railways’ property manager, Steve White, said: “Attracting a tenant of the calibre of Network Rail underlines the RTC Business Park’s reputation as a centre for rail and engineering excellence. Sanderson Weatherall’s team worked tirelessly to secure terms that were favourable to both parties and without their skilful negotiation on our behalf the deal would not have been possible.”

Under the terms of the lease, Network Rail will refurbish the property, transforming the accommodation into modern open plan offices. After 9 months of negotiations Sanderson Weatherall has secured lease terms that satisfy Network Rail’s business case but also ensure best value for London and Continental Railways.

Commenting on the letting, our associate partner in corporate real estate, Luke Barrett, said: “We are delighted to have secured this lease on behalf of our client. The deal will regenerate the building and provide ideal headquarters from which Network Rail can operate the project. It represents one of the largest single transactions in the city so we’re very pleased to have persuaded Network Rail to come to the RTC over the alternatives.”

RTC Business Park offers 430,000 sq ft of accommodation located on over 28 acres of landscaped grounds. The Park comprises a mix of low-rise office and laboratory buildings together with a number of rail connected industrial units. Other tenants include Atkins, Serco, Carillion Construction and Hitachi Rail.

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RICS CCS TDS Arla Ombudsman bsi