February Deals Update

Published on: 2nd February 2017

Our strong end to last year has been followed by an equally strong start to 2017 with a number of deals being completed across our network of offices.

In London, we have been involved in a number of deals, including the letting of a prominent corner restaurant in the heart of Chelsea to Baretto Lounge, a new Italian restaurant and aperitif bar. We have also sourced a number of showrooms in and around London for Magnet, the British kitchen retailer.

We were delighted to announce that City Point office building in Leeds reached full occupancy for the first time, after we let the second floor to Blacks Solicitors, on behalf of Redefine International. In addition we sold freehold office investment Hetton Court, in Leeds for over £2million while acting on behalf of Canada Life Investments.

We have also seen a lot of interest in the Grade I listed Leeming Building, once renovations are complete the iconic Leeds building will offer a unique collection of stylish workspaces.

Following the expansion of our nationwide lease consultancy team last year we were appointed by Co-op to provide lease consultancy services for its Yorkshire and North East region. 

In the North East we have been particularly active with our Teesside-based agency team assisting in the opening of Middlesbrough FC goalkeeper Dimi Konstantopoukous’ new restaurant on Linthorpe Road, Middlesbrough.

In Newcastle our office agency team were appointed as joint office agents on One Trinity Gardens, one of the North East's most desirable offices buildings. In Walkergate, Newcastle Upon Tyne our investment agents sold a property comprising a retail unit, car showroom and residential flats to Cairn Group.

In the North West we have recently completed a number of deals for Cheshire East. With the council looking to consolidate their assets we were on hand to complete a series of property disposals worth over £1.25million. Our Manchester agency team were also involved in the sale of a 4,912 sq ft office space in Altrincham business park.

Our asset based lending team assisted Matchmakers International Limited, by completing valuations and advisory work we were able to secure an innovative funding deal for the market leading equestrian business.

Our planning team have also welcomed in the new year with a number of successful jobs. In particular we obtained planning approval for the variation of a number of inconvenient conditions attached to a major leisure development in Bleadon, North Somerset.

At the start of 2017 we launched our specialist holiday and caravan park division and you can see a number of their recent deals here.

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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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Co-op appoints us as lease consultancy advisor for Yorkshire and North East region

We have been appointed by Co-op to provide lease consultancy services for its Yorkshire and North East region. The firm’s remit will comprise the Co-op’s trading leasehold convenience store and funeralcare portfolio. The appointment means that we will now act as lease consultancy advisors for three of the mutual’s six UK property regions, the other two being the North West and Central and Eastern regions.

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We have been appointed by Co-op to provide lease consultancy services for its Yorkshire and North East region.

The firm’s remit will comprise the Co-op’s trading leasehold convenience store and funeralcare portfolio. The appointment means that we will now act as lease consultancy advisors for three of the mutual’s six UK property regions, the other two being the North West and Central and Eastern regions.

[fulltext] =>

Alan Stell, Co-op’s national estates manager said: “Our food business is the fastest growing non-discounter in the UK and managing our portfolio of existing stores is fundamental to doing business in a better way for our members, customers and the local communities we serve. With our recently revised membership offer which includes giving 1% of own brand spend back to over 4000 community groups it is important to control costs in a competitive retail market.

“We have around 100 transactions taking place annually across the three regions that Sanderson Weatherall now handles for us. Due to this volume of activity, it’s vital that we have a lease consultancy team with expert market knowledge able to manage the scale of the work whilst also maintaining very high quality standards throughout. Having partnered with Sanderson Weatherall for the past eight years, we know they can deliver the standard of lease consultancy services required to enable us to actively manage our property portfolio.”

Earlier this year, we enhanced our nationwide lease consultancy service by expanding our office network across the UK. The lease consultancy division deals with rent reviews, lease renewals and lease re-gears on all types of commercial property throughout the UK.

The team is managed by Leeds-based head of lease consultancy, David Rastrick, supported by partners Fiona Rowland and Stephen Jefferies. Within our other offices the lease consultancy teams are led by Kim Murray in Manchester, Aidan King in Birmingham, Andrew Udall in London, Anthony Turner in Bristol and Shona Baxter in Newcastle.

David Rastrick, commented: “We’re delighted to provide our services to an additional region for Co-op. The team across our Leeds, London, Manchester and Birmingham offices are looking forward to adding real value to their operations across the UK."

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Innovative funding deal secured for market leading equestrian business

Our asset based lending team assisted Matchmakers International Limited (“Matchmakers”) by completing valuations and advisory work for the company’s proposed new trade and receivables refinancing purposes.

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Our asset based lending team assisted Matchmakers International Limited (“Matchmakers”) by completing valuations and advisory work for the company’s proposed new trade and receivables refinancing purposes.

[fulltext] =>

Matchmakers are one of the oldest and most established equestrian brands in the world. Dealing in both wholesale, distribution and retail the company provide equestrian products for horses, riders and any related equestrian activities.

All of Matchmakers products are designed, developed and dispatched from their offices in Bradford, West Yorkshire. Products are sold to a range of retailers including large multinationals, single store independents, independent chains and small retailers.

We were engaged by the proposed new funder, Bibby Trade Services to provide a full valuation of all of Matchmakers current inventory for a proposed new trade and receivables loan facility.

The majority of their inventory was stored on site in Bradford in an extensive 85,000 sq ft warehouse. The inventory is held in 6 principal brands, 5 of which are owned by the business with the other held on a distribution agreement with licenses to sell into the UK and Ireland. Items included footwear, headwear, safety equipment, rugs, saddles, collars, horse jackets and much more.

Funding was provided by Bibby Trade Services who structured the innovate new deal that will allow Matchmakers to reorganise their debt obligations through a corporate refinancing deal.

Mark Hargreaves, director at Matchmakers said, “Sanderson Weatherall were appointed to work for the potential funders as part of our business refinance strategy. The work that was completed by Christian Humphreys and his team was of really high quality throughout and so I look forward to working with Sanderson Weatherall again, hopefully soon”.

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/news/98-case-studies/1046-innovative-funding-deal-secured-for-market-leading-equestrian-business?layout=default&breadcrumb=noimage

Middlesbrough FC goalkeeper opens new restaurant

Middlesbrough FC goalkeeper Dimi Konstantopoulos’ opens new restaurant in Middlesbrough, following assistance from our North East agency team. Acting on behalf of Penza Properties, we were involved in the letting and negotiation of unit 1, 248 Linthorpe Road, the new home of Great, Dimi’s Greek restaurant venture.  Dimi said: “I couldn’t be happier with the restaurant now that it’s open. The décor, ambiance and quality of food showcase the best of Greek cuisine and I’m grateful to Sanderson Weatherall for making the process as smooth as possible. “Reactions to the restaurant have been very positive so far and I’m really looking forward to its future successes.”

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Middlesbrough FC goalkeeper Dimi Konstantopoulos’ opens new restaurant in Middlesbrough, following assistance from our North East agency team.

Acting on behalf of Penza Properties, we were involved in the letting and negotiation of unit 1, 248 Linthorpe Road, the new home of Great, Dimi’s Greek restaurant venture. 

Dimi said: “I couldn’t be happier with the restaurant now that it’s open. The décor, ambiance and quality of food showcase the best of Greek cuisine and I’m grateful to Sanderson Weatherall for making the process as smooth as possible.

“Reactions to the restaurant have been very positive so far and I’m really looking forward to its future successes.”

[fulltext] =>

The restaurant occupies a 2,056 sq ft unit underneath 248 Linthorpe Road. Sanderson Weatherall has currently let four of five commercial units in the building with the final property offering 9,738 sq ft in the heart of the town.

Richard Hird, Director at Penza Properties, said: “248 Linthorpe Road offers great commercial and retail opportunities and we’re very happy that Dimi’s restaurant has already been a resounding success.

“Sanderson Weatherall’s letting negotiations ensured all parties were happy and I look forward to the fifth and final unit being occupied in the not too distant future.”

Our Teesside-based agency team assisted on the deal, led by agency surveyor George Williams.

George commented: “We are very happy to have been involved in the process which culminated in Dimi opening his new restaurant. Great demonstrates Dimi’s passion for his homeland and it looks fantastic now it’s complete.”

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Caravan and holiday park deals

Our specialist leisure and caravan parks division, formerly known as Edwards and Partners has been completing deals in the market for over 40 years. Listed below are a selection of our recent deals. February 2017 Hook Farm Caravan and Camping Park, Lyme Regis Large caravan and camping park spread across approximately 9.5 acres of ground sold in Dorset. The site is located just one mile from popular seaside resort, Lyme Regis and includes 100 camping pitches, 17 static caravans, a site shop and a detached three bedroom bungalow. The site also features an orchard that has planning permission for a further 35 pitches which helped generate significant interest. The park was sold off a guide price of £1.9million. Barataria Park, Woking Recently completed the sale of Barataria Park, Woking after it was placed on the market for the first time in 90 years. The park is set on approximately 3 acres of land with consent for 29 residential park homes.The park was sold off a guide price of £1.1 million. Brookside Holiday Park, Eastchurch Brookside Holiday Park is located on the Isle of Sheppey, an island off the Northern coast of Kent and was recently sold off a guide price of £1.35million. The park, which is approximately 4.5 acres is currently developed for 89 static holiday caravan pitches, with 84 privately owned and five presently vacant. December 2016 Oakwood Lodges, North Duffield, Yorkshire A luxury lodge complex developed with 10 high quality lakeside lodges and hot tubs. Sanderson Weatherall has very recently sold this business and property off a guide price of £999,950. Located between the Yorkshire Dales and the North York Moors and some 12 miles from York, the lodges are let for short and long term breaks and enjoy a high level of occupancy and income. With two further lodges permitted and the pitches already developed, the purchaser, a new entrant to the sector, recognised the potential offered by this strong performing, well located and attractive holiday park. Greendales Farm and Bowland View Caravan Park, Morecambe We sold a mixed holiday park in Lancashire following the retirement of an established lifestyle business. Greendales Farm and Bowland View Caravan Park in Morecambe is a popular and accessible holiday location with close proximity to Morecambe Bay and the City of Lancaster. The site is approximately 7.5 acres and has been developed for 18 static holiday caravans and 24 touring holiday caravans. On the site there is also a 4-bedroom owner’s house with private garden including a swimming pool, summer house and orchard. The park was sold off guide price of £795,000 to an experienced park operator. Whitecote Caravan Park. Tadcaster In October we also completed the sale of Whitecote Caravan Park, an attractive touring caravan park located in the Vale of York. The park generated a significant level of interest given its location in Yorkshire and the attractive size of the site. The site is approximately 1.2 acres and can accommodate up to 27 caravans, including 7 static caravans. The site is also home to Whitecote Lodge, which provides three bedroom living accommodation for the park owner.The park was sold off guide price of £395,000.

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Our specialist leisure and caravan parks division, formerly known as Edwards and Partners has been completing deals in the market for over 40 years. Listed below are a selection of our recent deals.

February 2017

Hook Farm Caravan and Camping Park, Lyme Regis

Large caravan and camping park spread across approximately 9.5 acres of ground sold in Dorset. The site is located just one mile from popular seaside resort, Lyme Regis and includes 100 camping pitches, 17 static caravans, a site shop and a detached three bedroom bungalow.
The site also features an orchard that has planning permission for a further 35 pitches which helped generate significant interest. The park was sold off a guide price of £1.9million.

Barataria Park, Woking

Recently completed the sale of Barataria Park, Woking after it was placed on the market for the first time in 90 years. The park is set on approximately 3 acres of land with consent for 29 residential park homes.
The park was sold off a guide price of £1.1 million.

Brookside Holiday Park, Eastchurch

Brookside Holiday Park is located on the Isle of Sheppey, an island off the Northern coast of Kent and was recently sold off a guide price of £1.35million.
The park, which is approximately 4.5 acres is currently developed for 89 static holiday caravan pitches, with 84 privately owned and five presently vacant.

December 2016

Oakwood Lodges, North Duffield, Yorkshire

A luxury lodge complex developed with 10 high quality lakeside lodges and hot tubs. Sanderson Weatherall has very recently sold this business and property off a guide price of £999,950. Located between the Yorkshire Dales and the North York Moors and some 12 miles from York, the lodges are let for short and long term breaks and enjoy a high level of occupancy and income. With two further lodges permitted and the pitches already developed, the purchaser, a new entrant to the sector, recognised the potential offered by this strong performing, well located and attractive holiday park.

Greendales Farm and Bowland View Caravan Park, Morecambe

We sold a mixed holiday park in Lancashire following the retirement of an established lifestyle business. Greendales Farm and Bowland View Caravan Park in Morecambe is a popular and accessible holiday location with close proximity to Morecambe Bay and the City of Lancaster.
The site is approximately 7.5 acres and has been developed for 18 static holiday caravans and 24 touring holiday caravans. On the site there is also a 4-bedroom owner’s house with private garden including a swimming pool, summer house and orchard.
The park was sold off guide price of £795,000 to an experienced park operator.

Whitecote Caravan Park. Tadcaster

In October we also completed the sale of Whitecote Caravan Park, an attractive touring caravan park located in the Vale of York. The park generated a significant level of interest given its location in Yorkshire and the attractive size of the site.
The site is approximately 1.2 acres and can accommodate up to 27 caravans, including 7 static caravans. The site is also home to Whitecote Lodge, which provides three bedroom living accommodation for the park owner.
The park was sold off guide price of £395,000.

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Leeds office investment Hetton Court sold in £2million deal

Acting on behalf of Canada Life Investments, we have sold freehold office investment Hetton Court, in Leeds, for over £2m. The 20,197 sq ft office building, which is located at The Oval, opposite the Penny Hill Shopping Centre in Hunslet, was sold to Augustus House Ltd, advised by Mark Brearley & Co. Hetton Court is let to John Mowlem Construction Plc, with Carillion Construction Ltd as Guarantor on a 25 year lease at a rent of £285,175 per annum and the building is now occupied by healthcare waste specialists SRCL.

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Acting on behalf of Canada Life Investments, we have sold freehold office investment Hetton Court, in Leeds, for over £2m.

The 20,197 sq ft office building, which is located at The Oval, opposite the Penny Hill Shopping Centre in Hunslet, was sold to Augustus House Ltd, advised by Mark Brearley & Co.

Hetton Court is let to John Mowlem Construction Plc, with Carillion Construction Ltd as Guarantor on a 25 year lease at a rent of £285,175 per annum and the building is now occupied by healthcare waste specialists SRCL.

[fulltext] =>

Richard Dunn, head of our office agency, said “We are pleased to have completed the sale of this out of town office investment, which offers a number of asset management plays at an attractive price.

“The out of town market saw increasing take-up levels and rents earlier in 2016, and with the recent uncertainty caused by the Referendum, it’s encouraging to see transactions like Hetton Court concluding.”

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Grade A office space available in one of Newcastle's premier office buildings

We have been appointed as joint office agents on two floors in One Trinity Gardens. One Trinity Gardens is one of the North East’s most desirable office buildings, offering Grade A offices in an outstanding setting with a full height atrium giving a great sense of arrival. Working on the Quayside provides you with a wide range of amenities including hotels, restaurants and bars, as well as being just a short walk from Newcastle City Centre. The building itself includes a stunning entrance with full height central glazed atrium set behind a distinctive garden feature with a central sculpture. The fully fitted self-contained offices also provide access to a terrace on the 6th floor that boasts panoramic views of the city.

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We have been appointed as joint office agents on two floors in One Trinity Gardens. One Trinity Gardens is one of the North East’s most desirable office buildings, offering Grade A offices in an outstanding setting with a full height atrium giving a great sense of arrival.

Working on the Quayside provides you with a wide range of amenities including hotels, restaurants and bars, as well as being just a short walk from Newcastle City Centre. The building itself includes a stunning entrance with full height central glazed atrium set behind a distinctive garden feature with a central sculpture. The fully fitted self-contained offices also provide access to a terrace on the 6th floor that boasts panoramic views of the city.

[fulltext] =>

We currently have two spaces available within the landmark building. The 4th floor is 21,695 sq ft and is offered as a whole or in part, as it is capable of sub-division. The 6th floor is a smaller suite of 6,671 sq ft and provides a great opportunity for a creative business to occupy this quirky space a very competitive rent for a quayside office address.

You will be in great company as current occupiers include Allied Irish Bank, Deloitte, RBS, Nomad Digital and our joint agents on the building BNP Paribas Real Estate.

Commenting on the appointment, Robert Patterson, partner in our agency team said, “We are pleased to be instructed on this impressive office building. Following an encouraging year in the Newcastle office market we are looking forward to the year ahead.”

Click here to view the property listing.

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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.

 

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Consultancy Sanderson Weatherall [secure] => 0 [page_description] => [page_rights] => [robots] => [access-view] => 1 ) [initialized:protected] => 1 [separator] => . ) ) URL: /agency

North East agency team strengthened by new appointment

Our North East agency team has been strengthened by the appointment of industrial agent, Darren Naylor as an associate partner. Darren brings with him 8 years’ experience working in the North East commercial property market and will focus on industrial acquisitions and disposals in Newcastle and Teesside. Speaking about his new position, Darren said: "I'm excited to be working with this award-winning agency team and look forward to supporting the department as it continues to grow, and strengthen its reputation as one of the region's most active commercial agents."

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Our North East agency team has been strengthened by the appointment of industrial agent, Darren Naylor as an associate partner.

Darren brings with him 8 years’ experience working in the North East commercial property market and will focus on industrial acquisitions and disposals in Newcastle and Teesside.

Speaking about his new position, Darren said: "I'm excited to be working with this award-winning agency team and look forward to supporting the department as it continues to grow, and strengthen its reputation as one of the region's most active commercial agents."

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Robert Patterson, head of our agency team said: "I am delighted to announce Darren’s appointment to our agency team. Darren is a highly experienced surveyor and has a wealth of knowledge in the North East commercial property market."

Darren joins our established team of commercial property agents, who work across the offices, retail, and development and land markets.

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