Latest News

Former St Thomas Hospital for sale in Scarborough

Published on: 17th July 2019 The substantial and imposing Grade II Listed former hospital building located on Scarborough’s main seafront is being brought to the market. Dating back to the mid-19th century the Victorian villa style property offers unique redevelopment and investment opportunity with approved planning for the conversion of the upper levels to create residential apartments.

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The Pitfalls of Break Options and what to avoid

Published on: 10th July 2019 The prevalence of break options in leases continues to increase due to occupiers ongoing requirements to achieve short flexible lease terms when negotiating against Landlords who ideally are seeking as long a lease terms, but care and consideration needs to be taken in the way break clauses are drafted to ensure occupiers are not caught out by onerous break clause conditions. 

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Cranes in the sky as Newcastle flies high

Published on: 10th July 2019 Kevin McGorie, partner in our Newcastle agency team has shared his thoughts on the North East commercial property market. "Cranes on the skyline are always a good sign within the property market. Unfortunately, over the past decade, this has been a sight few and far between in Newcastle, with the exception of student residential developments. However, as Newcastle has continued to grow as a northern powerhouse we are now reaping the rewards of a strengthening office market and continued demand by hoteliers in the region. 

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Staycationing continuing to bolster the sector

Published on: 3rd July 2019 The recent economic uncertainty has helped bolster the sector with increasing numbers of holidaymakers choosing to stay in the country rather than head abroad . We are seeing an increasing trend for the ‘staycation’ which has helped make holidaying in the UK a much more popular choice amongst UK tourists. As ever holiday businesses have been forward thinking to embrace the new demand, creating and developing many new forms of accommodation to appeal to different customers. Despite some reports of a slowdown in the sales of holiday homes, we are seeing park owners investing in new hire fleet stock and upgrading parks to keep up with the ‘staycation’ demand as many that are already geared up for this offering have reported very strong occupancy throughout the summer.

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Park Street Bristol retail and residential investment acquired by private investor

Published on: 3rd July 2019 Our Capital Markets team has advised a private investor client on the purchase of 40 Park Street, Bristol, a retail property with 4 two bed and one 5 bed flat flats above. The ground floor and basement are let to Jacob’s Gentlemen’s Barber-Rista’s who trade as a barber and café and the property currently generates an income of £72,800 per annum.

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Removal of Section 106 Pooling Restrictions

Published on: 2nd July 2019 What Is CIL? CIL charges were introduced in early 2010 to raise funds to help provide the supporting infrastructure and facilities required for new developments such as schools or improvements to the transport network. The amount developers must pay will depend on the size and type of development and vary locally. But unlike planning obligations secured by Section 106 (s106) agreements, CIL is non-negotiable. Since its contested inception CIL has undergone numerous reforms to adapt its methods to become a viable source of funding, the latest of which looks to be a positive step in the right direction.

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Prominent leisure unit to let on Collingwood Street in Newcastle City Centre

Published on: 1st July 2019 A ground floor unit located in a Grade II listed bank hall and offices formerly occupied by Allied Irish Bank is on the market, with a fantastic opportunity to convert to a restaurant, or for other leisure usage. The striking property is located on Collingwood Street in the heart of Grainger Town and close to Newcastle Central Station in an area that has undergone significant investment recently.

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Iconic building in heart of Harrogate comes to market

Published on: 27th June 2019 Our Leeds office has been appointed by Harrogate Borough Council to sell Crescent Gardens, a prime redevelopment/refurbishment opportunity in the town centre. Originally constructed in the late 18th Century as the Victoria Baths, the building was used as Council offices from the 1930’s until late 2017 and is an attractive, three storey Georgian style property extending to approx. 37,900 sq ft (GIA) on a site of approx. 1 acre.

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Make the Grade : Are you getting the right advice on listed buildings?

Published on: 12th June 2019 David Fairley MRICS, accredited non-domestic energy assessor and partner in our building consultancy team, gives the lowdown on listed building legislation… Despite industry miss-conception and guidance (not a regulation, but an interpretation of such) on both the Government and Historic England websites, indicating that listed buildings are exempt from EPC requirements, there is no express exemption in Energy Performance of Building Regulations for Listed Buildings. Rather, the legal obligation remains that an EPC is required when a commercial transaction takes place and thereafter, the requirement for any upgrades to ensure compliance with Minimum Energy Efficiency Standards (MEES) must then be considered. It is therefore the reference to MEES which is the critical element of the process, as it is this requirement which will dictate whether the property needs to be considered for exemption, subject to the rating that is achieved. A listed building is defined as a “building which is included in the list compiled or approved by the Secretary of State”. Accordingly, Historic England, states that a listing is not preservation order, preventing change. It does not freeze building in time, it simply means that Listed Building consent must be applied for, in order to make any changes to the building which might affect its special interest.

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