2017 predictions for Yorkshire

Published on: 2nd January 2017

Leeds agency partners Peter Heron and Richard Dunn discuss the highlights of 2016 and what they think the future holds for their respective markets in 2017.

Retail - Peter Heron

What have been the biggest changes in your industry for 2016?

Not really a 2016 change but the loss of BHS and a number of other large store occupiers has increased void floor space in a large number of town and city centres. In the more thriving locations, such as Leeds, these will be either taken up by others or split up by proactive landlords and so many see this as an opportunity.

One trend we have seen in recent years is the expansion of the leisure industry and its move into what were traditionally prime retail locations. This has been driven by the increasing voids in city centres being taken up by restaurants and cafes and Leeds is a perfect example of this.

We have already seen numerous new restaurants opening in the likes of Trinity including the highly successful Trinity Kitchen. Outside of the scheme Bond Street is becoming a new leisure location with 200 degrees coffee having just opened and Thai restaurant Busaba Eathai opening in the former Lloyds Bank. In addition Loungers and Cosy Club will be opening in the former Next Store at the corner of Bond Street and Albion Street.

What has been your highlight for the year?

In Leeds it was probably the sale of the Matalan Investment in Lower Wortley. This attracted considerable interest driven by the lack of available stock generally and increased interest in the regions due to a lack of supply in the South East. This was purchased by an overseas fund on confidential terms.

What will be the biggest changes in your industry in 2017 and anything to watch out for in terms of market trends?

As landlords seek new ways to fill vacant retail units I believe we will see continued growth in the leisure industry and especially in the centre of the larger towns and cities.

Out of town we will see further downsizing of the larger supermarkets as they look to become more efficient. This has already led to them subletting space to complimentary tenants such as Cafes, Gyms and other non food retailers and this trend will continue.

We are also seeing the supermarkets looking at large scale residential developments on sites in their land banks especially in London and the South East where land values are very much higher.

It will be interesting to see what comes from the purchase of Argos by Sainsburys. This is likely to include Argos moving stores into some of their existing estate alongside the supermarket and an increase in "click & collect" for both retailers. What is not known is what their plans are for the Argos in town stores and it will be interesting to see what approach they take with this element.

Office - Richard Dunn

What have been the biggest changes in your industry for 2016?

The uncertainty caused by the Referendum and decision to Brexit has had the biggest single impact on the Leeds office market in 2016.

What has been your highlight for the year?

The completion of Central Square in Leeds, in my view the best office building in the city and the only office building in our market with a BREEAM Outstanding rating. Also, the successful letting of the 2nd floor in City Point to Blacks Solicitors meaning the building is 100% let for the first time.

What will be the biggest changes in your industry in 2017 and anything to watch out for in terms of market trends?

The continued embracement of new technology and agile working practices by occupiers and the trend towards better quality, more environmentally sustainable office buildings with larger footplates will drive new office development in the city albeit occupiers will typically occupy less floor space with more staff in future.

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City Point reaches full occupancy following letting to Blacks Solicitors in Leeds

We have let an office space at City Point in Leeds, to Black Solicitors, on behalf of Redefine International. Black Solicitors has taken the second floor of City Point, which is located on King Street in Leeds, on a 10 year lease. The 11,000 sq ft space will allow the law firm to consolidate their office space from two separate buildings, to one single floor. The letting brings the 61,500 sq ft building, which was acquired by Redefine International in March 2016, to full occupancy for the first time.

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We have let an office space at City Point in Leeds, to Black Solicitors, on behalf of Redefine International.

Black Solicitors has taken the second floor of City Point, which is located on King Street in Leeds, on a 10 year lease. The 11,000 sq ft space will allow the law firm to consolidate their office space from two separate buildings, to one single floor.

The letting brings the 61,500 sq ft building, which was acquired by Redefine International in March 2016, to full occupancy for the first time.

[fulltext] =>

Head of office agency, Richard Dunn, said, “It’s fantastic to see City Point fully occupied, and I am delighted to have acted on behalf of Redefine International on letting the remaining space. City Point will provide Blacks Solicitors with prominent, Grade A office space, in a prime business district location.”

Sanderson Weatherall and JLL acted on behalf of Redefine International and WSB on behalf of Blacks Solicitors.

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How are the modern day workforce changing the property market?

The modern day workforce are going through a gradual, but very noticeable transformation. Enabled by technology, changing attitudes towards flexibility, and surging numbers of millennials in the workplace, modern day professionals are redefining working life, and consequently challenging where and what a modern day workplace is.

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The modern day workforce are going through a gradual, but very noticeable transformation. Enabled by technology, changing attitudes towards flexibility, and surging numbers of millennials in the workplace, modern day professionals are redefining working life, and consequently challenging where and what a modern day workplace is.

[fulltext] =>

Being able to read emails, access files and join meetings at any time, from anywhere, has been a game changer for working life. The fact that an employee can be constantly, virtually connected to their job is raising questions about the need for them to be physically present in a workplace, and what sort of spaces business owners should be providing for them to work in.

Do workers need a physical workplace?

One way that some business owners are responding to the declining requirement for their employees to be sat at a desk is to introduce ‘hot desking’; the concept where workers sit at any desk, as and when they need to come into the office. This then allows a business to reduce the amount of office space it occupies, and consequently save on property costs.

However, when considering ‘hot desks’, a business owner should consider the longer term impact that not having assigned desks can have on both the workforce and the business. By providing individual employees with a space of their own, business owners are encouraging them to spend time in the workplace and interact more with their colleagues. In taking that away, a business may lose its sense of community, and employees may lose the social interaction that a workplace can provide them with.

Rather than simply reducing space, a business owner can challenge the traditional concept of an office by introducing more flexible spaces within the workplace. By creating a range of working environments, employees can enjoy some flexibility in where they do their work, and be encouraged to collaborate with others in the workplace. Engaging work spaces can also help to motivate and inspire professionals, allowing them to be more innovative and better engaged in their work.

Location, location, location?

The property industry has long been driven by location, but with technology changing the way people work, as well as how businesses are run, physical location may become less of a defining factor for where a business owner chooses to locate their office.

With an increasing demand for flexible space, with better integrated, cutting edge technology capabilities, the impact of placing those factors above physical location, could be huge on the property market.

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What does Black Friday’s online success mean for our high streets?

Black Friday is here, and retailers around the country will be hoping to maximise sales over the weekend, in a race to reach their targets for the festive season. What was traditionally a retail event in America, Black Friday was brought to the UK a few years ago by online retail giant Amazon. Since then, British brands have been weighing up if, and how, to tackle the years’ biggest shopping weekend, where consumers eagerly anticipate big discounts on hot ticket items.

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Black Friday is here, and retailers around the country will be hoping to maximise sales over the weekend, in a race to reach their targets for the festive season.

What was traditionally a retail event in America, Black Friday was brought to the UK a few years ago by online retail giant Amazon. Since then, British brands have been weighing up if, and how, to tackle the years’ biggest shopping weekend, where consumers eagerly anticipate big discounts on hot ticket items.

[fulltext] =>

And whilst last year, Black Friday broke the record for online retail sales in the UK, in-store footfall dropped significantly. For many consumers, the ease of shopping from the comfort of their own homes, without the crowds, is all too appealing. But falling footfall is bad news for our high streets, especially retailers that don’t operate online, and the coffee shops and restaurants that rely on passing shoppers.

Bringing customers back in-store

A key way for retailers to combat falling footfall over the festive season is to invest more in the in-store experience. For a consumer, a trip to the local high street is about more than just a transaction, and retailers need to engage, inspire and entertain their customers to get them back in-store.

Interactive displays, personal shopping and good customer service are great ways to offer customers some social interaction during their shopping trip, resulting in a more rewarding experience than a cold online transaction. Having an engaging shopping environment with an innovative store fit-out can also excite and inspire customers, taking them on a journey whilst they shop, as well as encouraging ‘spur of the moment’ purchases.

Retailers also need to embrace in-store technology. By delivering a more efficient in-store buying experience, where online technologies can meet the physical, retailers can work towards breaking the perception that online is a more streamline, hassle free way of shopping.

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A sweet success in York Minster's shop deal

Our Leeds agency team has let a property on behalf of the Chapter of York after we were appointed to manage the entire property investment portfolio of York Minster.

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Our Leeds agency team has let a property on behalf of the Chapter of York after we were appointed to manage the entire property investment portfolio of York Minster.

[fulltext] =>

The letting at 10 Minster Gates brings specialist chocolatier, Cocoa & Sweet, to the city of York for the first time. The company will be occupying the property on a five year lease and have taken retail space comprising 1,067 sq ft.

Cocoa & Sweet is a high quality chocolate and confectionery store inspired by York's chocolate past, as well as other renowned top quality chocolatiers. The company will be located in a Grade II* listed property providing it with excellent ground floor sales accommodation.

York Minster’s Chapter Steward, Kathryn Blacker, said: “We are delighted to have secured this letting with the help of Sanderson Weatherall as part of our existing property portfolio. It is great for the city to welcome the new business and I am looking forward to them becoming part of the community.”

Last year, we were appointed on a five year contract to manage all of York Minster’s commercial and residential property holdings and provide a comprehensive range of property management services.

Peter Heron, partner in our retail agency team, said: “We are very excited to bring Cocoa & Sweet to York. It is a high quality retailer and the location of the premises will be extremely beneficial to its success with both local residents and tourists.”

Contact Us

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Leeds office market has a strong quarter despite post-Brexit uncertainty

The Leeds office market tabled total take-up of 191,265 sq ft in Q3 which was a positive outcome given the uncertainty created in Q’s 2 & 3 by the referendum and decision to Brexit. Q3 Leeds City Centre take-up was 125,321 sq ft an increase of 52,218 sq ft (71%) on the preceding quarter as lettings to The Department of Health of 23,762 sq ft at Whitehall II and 12,969 sq ft to Ward Hadaway at the newly completed 5 Wellington Place helped swell the total amount of space transacted.

Read More....

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The Leeds office market tabled total take-up of 191,265 sq ft in Q3 which was a positive outcome given the uncertainty created in Q’s 2 & 3 by the referendum and decision to Brexit.

Q3 Leeds City Centre take-up was 125,321 sq ft an increase of 52,218 sq ft (71%) on the preceding quarter as lettings to The Department of Health of 23,762 sq ft at Whitehall II and 12,969 sq ft to Ward Hadaway at the newly completed 5 Wellington Place helped swell the total amount of space transacted.

[fulltext] =>

 The Out of Town market saw the largest deal of the quarter as Lowell signed for 45,647 sq ft of expansion space at Leeds Valley Park although this letting masked what was otherwise a challenging period of activity as Out of Town transactions totalled just 65,944 sq ft in Q3. (Q2 2016: 76,026 sq ft).

Click here to download Q3 2016 Leeds office market update

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Azendi returns to York with new central premises letting

We have recently let a property to unique British jewellery brand, Azendi, on behalf of the Chapter of York. Following its sale to A to Z Investments Limited, Azendi is set to return to York to occupy 50 Low Petergate on a five year lease, taking retail space comprising 774 sq ft. The premises provide excellent ground floor sales accommodation along with basement storage.

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stdClass Object ( [state] => 1 [modified] => 2016-12-12 14:29:27 [id] => 972 [asset_id] => 1282 [title] => Azendi returns to York with new central premises letting [alias] => azendi-returns-to-york-with-new-central-premises-letting [introtext] =>

We have recently let a property to unique British jewellery brand, Azendi, on behalf of the Chapter of York.

Following its sale to A to Z Investments Limited, Azendi is set to return to York to occupy 50 Low Petergate on a five year lease, taking retail space comprising 774 sq ft. The premises provide excellent ground floor sales accommodation along with basement storage.

[fulltext] =>

The unique jewellery brand, which provides in-house designed and created sterling silver and gold vermeil collections, has added to its 54 existing stores and concessions across the UK with this latest letting. The property is located on one of York’s premier shopping streets, close to York Minster and is Grade II listed.

York Minster’s Chapter Steward, Rebecca Thompson, said: “Azendi is a wonderful addition to York and we are delighted to welcome it back to the city. I am looking forward to it becoming an established part of our retail community with the help of Sanderson Weatherall.”

Last year, we were appointed on a five year contract to manage all of York Minster’s commercial and residential property holdings and provide a comprehensive range of property management services.

Peter Heron, partner in our retail agency team, said: “Azendi is a fantastic business that will be a quality addition to the location of the letting. We are confident that its position on Low Petergate will be extremely beneficial to its success with both local residents and tourists.”

Contact Us

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/news/8-latest-news/972-azendi-returns-to-york-with-new-central-premises-letting?layout=default&breadcrumb=noimage

Retail Agency

Our principal retail agency services include: Shopping Centre, High Street and Out of Town Retail Consultancy Disposals Acquisitions Innovative Marketing Solutions Development Appraisal Monitoring of retail requirements and trends Strategic Asset Management Strategy and Investment Funding   Our client base is spread across a wide spectrum of retailers, developers, investors and retail property owners and occupiers. With an established team of experienced focussed professionals our offices cover the whole of England and Wales and the Scottish Borders. We have an enviable reputation in the market amongst our clients and competitors alike. Each and every one of our clients is very important to us. We strive to work in partnership with our client to achieve the best possible results. To understand our client’s business and objectives is of huge significance and importance to us. Our appreciation of local market conditions and national retail trends helps us to achieve the best possible solutions to our client’s property issues. We are committed to achieving an innovative and multi faceted approach to our marketing of client’s retail property utilising both technology in all its complex forms and personal and direct communication with potential targets. We understand retailers and retail property.

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Our principal retail agency services include:

  • Shopping Centre, High Street and Out of Town Retail Consultancy
  • Disposals
  • Acquisitions
  • Innovative Marketing Solutions
  • Development Appraisal
  • Monitoring of retail requirements and trends
  • Strategic Asset Management Strategy and Investment Funding

 

Our client base is spread across a wide spectrum of retailers, developers, investors and retail property owners and occupiers.

With an established team of experienced focussed professionals our offices cover the whole of England and Wales and the Scottish Borders.

We have an enviable reputation in the market amongst our clients and competitors alike.

Each and every one of our clients is very important to us. We strive to work in partnership with our client to achieve the best possible results. To understand our client’s business and objectives is of huge significance and importance to us.

Our appreciation of local market conditions and national retail trends helps us to achieve the best possible solutions to our client’s property issues.

We are committed to achieving an innovative and multi faceted approach to our marketing of client’s retail property utilising both technology in all its complex forms and personal and direct communication with potential targets.

We understand retailers and retail property.

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[page_description] => [page_rights] => [robots] => [access-view] => 1 ) [initialized:protected] => 1 [separator] => . ) ) URL: /news/20-services/144-retail-agency?layout=default&breadcrumb=noimage

Office Agency

Our office agency team provide advice and expertise on the sale, acquisition, marketing, development and leasing of office properties and developments across the country. Utilising in-depth experience of the UK office sector coupled with extensive knowledge of the local and regional marketplaces in which we operate, each team possesses unrivalled skills to work to your significant advantage. Our specialist knowledge ranges from individual office suites to out of town business parks and new-build city centre developments.The specialism is supported by a broad range of additional services within the business. Agency Disposals: Realistic marketing advice and methodology Comprehensive market knowledge and full research facilities Extensive enquiry database Innovative marketing ideas Appraisal of alternative uses with in-house town planning advice Agency Acquisitions: Obtaining a clear understanding of our client’s requirements and commercial objectives Comprehensive property stock search and identification of development opportunities Objective advice on the suitability of identified properties Negotiation of favourable terms Full back up service including structural surveys, planning advice and fitting out etc. Valuation and finance advice Development Consultancy: Thorough market research Advice on selection and appointment of consultants Undertaking of full financial appraisals and timescales Advice on optimum composition of development Assessment of deliverability Advice on specification and scheme layout End user knowledge   Contact Us

Read More....

stdClass Object ( [state] => 1 [modified] => 2018-05-03 08:24:25 [id] => 146 [asset_id] => 296 [title] => Office Agency [alias] => office-agency [introtext] =>

Our office agency team provide advice and expertise on the sale, acquisition, marketing, development and leasing of office properties and developments across the country.

Utilising in-depth experience of the UK office sector coupled with extensive knowledge of the local and regional marketplaces in which we operate, each team possesses unrivalled skills to work to your significant advantage.

Our specialist knowledge ranges from individual office suites to out of town business parks and new-build city centre developments.The specialism is supported by a broad range of additional services within the business.

Agency Disposals:

  • Realistic marketing advice and methodology
  • Comprehensive market knowledge and full research facilities
  • Extensive enquiry database
  • Innovative marketing ideas
  • Appraisal of alternative uses with in-house town planning advice

Agency Acquisitions:

  • Obtaining a clear understanding of our client’s requirements and commercial objectives
  • Comprehensive property stock search and identification of development opportunities
  • Objective advice on the suitability of identified properties
  • Negotiation of favourable terms
  • Full back up service including structural surveys, planning advice and fitting out etc.
  • Valuation and finance advice

Development Consultancy:

  • Thorough market research
  • Advice on selection and appointment of consultants
  • Undertaking of full financial appraisals and timescales
  • Advice on optimum composition of development
  • Assessment of deliverability
  • Advice on specification and scheme layout
  • End user knowledge

 

Contact Us

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Agency - sales & lettings

Our award winning property agents provide transactional services across the UK to owners, occupiers, investors and developers. Our agency teams specialise in regions and industries around the country, providing local insight and technical knowledge that's relevant to your business, property and location. We add value by offering commercially astute advice, and alerting you to the opportunities and threats that might affect your transaction. We'll also work with our property and building consultants to advise you on planning, valuations, business rates, dilapidations, building surveys, lease and rent reviews, as well as talk to our in house architects about any fit-out requirements.   Contact Us

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Our award winning property agents provide transactional services across the UK to owners, occupiers, investors and developers.

Our agency teams specialise in regions and industries around the country, providing local insight and technical knowledge that's relevant to your business, property and location.

We add value by offering commercially astute advice, and alerting you to the opportunities and threats that might affect your transaction.

We'll also work with our property and building consultants to advise you on planning, valuations, business rates, dilapidations, building surveys, lease and rent reviews, as well as talk to our in house architects about any fit-out requirements.

 

Contact Us

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