April Deals Update

Saltash Parkway Industrial Park Premises Acquired by Private Investor
Published on: 5th April 2018

During March it was announced that our North East agency team had, for the sixth year running, been named as the North East’s most active agents, winning the top accolade in the Estate Gazette regional awards.

Following our Leeds team moving into their new office premises in February we have created a mini-series of videos that showcase our new offices. The first of the videos focused on why we made the move in the first place and the second on why we chose to move into the landmark Central Square development. The third video focuses on the benefits of the office move and will be released later on this month.

Our investment agency team advised a private investor client on the purchase of a 27, 314 sq ft unit in Saltash, Cornwall for £1.82 million. The property was located in a popular industrial location, adjacent to the A38, within a mile of the Tamar Bridge, the border between Devon and Cornwall.

Our Teesside agency team has successfully sold the former Cleveland Meat Company site on Yarm Road, Stockton on Tees. The large site comprises a fully fitted abattoir, meat processing and cold facility and was purchased by Darlington Farmers Auction Mart Company Ltd, one of the North’s leading livestock auctioneering firms.

During March we strengthened our Birmingham team with two new appointments to accommodate our growing business across the Midlands and further afield. James Carver joins our agency team as an associate partner and Rob George joins us as a surveyor where will he work predominantly in our valuation team. We have also bolstered our office agency team with the appointment of Dominic Towler in our Leeds office.

On Tuesday 13th March Chancellor Philip Hammond delivered the first ever Spring statement, providing an update on the economy and a chance to review the progress since the 2017 Autumn budget. It was announced that businesses are to benefit from a change in business rates revaluations sooner than expected with the next business rates revaluation moved forward a year to April 2021. Read more on the announcements here.

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SW agency team named as the most active in the North East

Gold Medallists once again…. In true Olympic spirit, our North East agency team has, for the 6th year running, been named as the North East's most active agents, winning the Top Accolade in the Estates Gazette regional awards. The team picked up the Estates Gazette award for the most deals completed in the North East between January 1st and December 31st 2017, the most prestigious award available in the competition.

Read More....

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Gold Medallists once again….

In true Olympic spirit, our North East agency team has, for the 6th year running, been named as the North East's most active agents, winning the Top Accolade in the Estates Gazette regional awards.

The team picked up the Estates Gazette award for the most deals completed in the North East between January 1st and December 31st 2017, the most prestigious award available in the competition.

[fulltext] =>

In the past year our Newcastle and Teesside teams let or sold a total of over 2 million sq ft of office, investment, retail, leisure and industrial space across the North East, topping the tables for the 6th year in a row.

Across the year we had involvement in a number of landmark deals, including the £20million investment sale of St James Gate, the largest out of town office letting in the region to Northumbria Water at Spectrum Business Park and a 32,000 sq ft letting to food retailer Lidl amongst many others.

Robert Patterson, head of commercial agency at Sanderson Weatherall commented, “Once again we are delighted to win this award and continue our run as the most active agency team in the region. We have again placed in the top 5 of all property categories which shows the continued strength of our team across all property sectors. This will no doubt be enhanced with the continued growth of our agency team and the recent appointment of Chris Dent in industrial agency.

"Our agency teams are continually driven by securing the best deals for our clients and are delighted to be recognised for this commitment once again. Our consistent performance over many years has proved that we are and will continue to be the market leader in the North East” 

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The Move

We have recently completed our move to the £100 million Central Square development on Wellington Street in Leeds city centre. Find out more in our video:

Read More....

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We have recently completed our move to the £100 million Central Square development on Wellington Street in Leeds city centre. Find out more in our video:

[fulltext] =>

The team of 80 has moved in to the prime grade A office space on the sixth floor of the landmark development. We have also relocated our residential estate agency to a ground floor unit at Central Square.

The move endorses our commitment to the Leeds and West Yorkshire area, where we’ve been a leading name in property services for over a century.

Watch more about why we made the move:

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The Location

We have recently completed our move to the £100 million Central Square development on Wellington Street in Leeds city centre. Find out more in our video:

Read More....

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The team of 80 has moved in to the prime grade A office space on the sixth floor of the landmark development. We have also relocated our residential estate agency to a ground floor unit at Central Square.

Central Square is a cutting edge development that provides a level of quality that is very rare to find outside of London. We’re delighted to be joining the likes of PwC, BDO, Sky and RSM as occupiers.

Watch more about why we chose Central Square:

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Saltash Parkway Industrial Park Premises Acquired by Private Investor

Our investment agency team has advised a private investor client on the purchase of a 27, 314 sq ft unit in Saltash, Cornwall for £1.82 million. The site is let to Righton Ltd on a 15-year lease from June 2010 at a rent of £141,000 per annum, with a fixed uplift to £163,000 in January 2020. The warehouse has a generous minimum eaves height of 8.15 meters and has been occupied by Righton since it was built in 2004.

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Our investment agency team has advised a private investor client on the purchase of a 27, 314 sq ft unit in Saltash, Cornwall for £1.82 million.

The site is let to Righton Ltd on a 15-year lease from June 2010 at a rent of £141,000 per annum, with a fixed uplift to £163,000 in January 2020. The warehouse has a generous minimum eaves height of 8.15 meters and has been occupied by Righton since it was built in 2004.

[fulltext] =>

David Ferris, investment agency partner in our Bristol office said, “We are pleased to have advised our clients on the purchase of this investment in this well established and popular industrial location, adjacent to the A38 and within a mile of the Tamar Bridge, the border between Devon and Cornwall.

“The purchase price reflected an attractive net initial yield of 7.29% rising to 8.43% in 2020 through a fixed uplift.”

The vendor, a private property company, was represented by Mark Atkins Associates.

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Former Cleveland Meat Company site in Stockton on Tees sold

Our Teesside agency team has successfully sold the former Cleveland Meat Company site on Yarm Road, Stockton on Tees. The property comprises a fully fitted abattoir, meat processing and cold store facility as well as number of larger agricultural buildings used for storing cattle.

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Our Teesside agency team has successfully sold the former Cleveland Meat Company site on Yarm Road, Stockton on Tees.

The property comprises a fully fitted abattoir, meat processing and cold store facility as well as number of larger agricultural buildings used for storing cattle.

[fulltext] =>

George Williams, agent in our Teesside office commented, “We are pleased to have completed the sale of this site. We are used to working with a wide variety of properties but dealing with the sale of an abattoir was a fairly rare occurrence and it made for a really interesting process.

“The sites quality, size and prime location meant that we received a lot of enquiries from potential purchasers looking at a variety of different uses for the space. We are continuing to see strong levels of demand for industrial properties in the North East and we are confident that the market will continue to thrive as the wider economy grows.”

The 3.7acre site was purchased by Darlington Farmers Auction Mart Company Ltd, one of the North’s leading livestock auctioneering firms.

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Birmingham office strengthened following two new appointments

We have recently strengthened our Birmingham team with two new appointments to accommodate our growing business across the Midlands and further afield. James Carver joins our agency team as an Associate Partner and Rob George joins us as a Surveyor where he will work predominantly within our valuation team.

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We have recently strengthened our Birmingham team with two new appointments to accommodate our growing business across the Midlands and further afield.

James Carver joins our agency team as an Associate Partner and Rob George joins us as a Surveyor where he will work predominantly within our valuation team.

[fulltext] =>

James has over 8 years’ experience in the Midlands property market, having worked at SLD Bigwood, Colliers and within Oxfam’s estates department. With extensive knowledge in the disposal and acquisition of properties across the region James will have responsibility for our agency instructions across the Midlands region.

Rob gained his chartered surveyor status in November 2017 whilst working at Hansteen Property Investments.  Whilst working there Rob was responsible for the asset management of circa 300,000 sq ft of secondary industrial space, which included the letting of vacant space, undertaking lease renewals and recognising underlying opportunities to add value to the estates.

We established our Birmingham office in the city centre in 2015 and have grown to service a wide range of property investors, occupiers and funders locally and from our national platform of nine UK offices.

Peter Fowles, head of the our Birmingham office commented, “I’m delighted to welcome both James and Rob to the team, I am confident that they will enhance our combined knowledge, strengthening our offering and ultimately contributing to our continued growth in the region.”

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New appointment for Leeds Agency Team

Our Leeds team has recently strengthened their office agency team with the apppointment of Dominic Towler as surveyor. Dominic joins the firm from Colliers, where he worked as an office agent for just under two years. Prior to that, he worked for Sanderson Weatherall for 18 months. Commenting on his appointment, Dominic said: “It’s great to be back at Sanderson Weatherall, particularly at such an exciting time when the firm is investing in its brand.

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Our Leeds team has recently strengthened their office agency team with the apppointment of Dominic Towler as surveyor.

Dominic joins the firm from Colliers, where he worked as an office agent for just under two years. Prior to that, he worked for Sanderson Weatherall for 18 months.

Commenting on his appointment, Dominic said: “It’s great to be back at Sanderson Weatherall, particularly at such an exciting time when the firm is investing in its brand.

[fulltext] =>

“Sanderson Weatherall is incredibly well known in the region, and I’m looking forward to working alongside Richard and contributing to our growth in the office market.”

Richard Dunn, head of our office agency team said: “Dominic is a talented agent and I’m thrilled to have him as part of the team. It’s been an exciting period for the Leeds office market, with record breaking take-up levels and unprecedented demand for the city’s newest office spaces. Dominic will no doubt be a great asset as we continue to build on our reputation as a leading commercial agency brand in the region.”

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International Women's Day - Meet Jo Williams

This Thursday, March 8th marks International Women’s Day, a global day celebrating the social, economic, cultural and political achievements of women. Occurring annually for well over 100 years there is now more than ever a real push to progress gender equality. As a company we are incredibly proud to be supporting International Women’s Day and following the announcement of Jo Williams as National Chairman for the Association of Women in Property we thought it was a brilliant time to feature the achievements of some of the fantastic women that work at Sanderson Weatherall. Over the next couple of days we will be introducing you to a number of female surveyors from across our offices and showcasing some of the fantastic work they do.

Read More....

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This Thursday, March 8th marks International Women’s Day, a global day celebrating the social, economic, cultural and political achievements of women. Occurring annually for well over 100 years there is now more than ever a real push to progress gender equality.

As a company we are incredibly proud to be supporting International Women’s Day and following the announcement of Jo Williams as National Chairman for the Association of Women in Property we thought it was a brilliant time to feature the achievements of some of the fantastic women that work at Sanderson Weatherall. Over the next couple of days we will be introducing you to a number of female surveyors from across our offices and showcasing some of the fantastic work they do.

[fulltext] =>

Jo, partner and head of our Bristol Building Consultancy team commented on her recent appointment as WIP national chairman and what she has planned for the year ahead.

“I’m honoured to take on this role and at a particularly important time. The revelations of the past few months have put into sharp focus the work the industry still has to do, to address not just diversity but inclusivity. I have always believed that honesty and respect are critical to great team work and a supportive working environment, so we are all as good as we can be. And like my predecessors, I want to help ensure the industry is in better shape, to attract and retain the next generation.

“Attracting talent into the industry is critical to meet our skills shortage, but nurturing their ongoing development is equally essential to sustain a happy, diverse and high performing workforce. Women provide a huge talent pool which employers have been missing out on. Women need to be more visible, to show employers what they can achieve, both within the workforce and for the benefit of the business.

“International Women’s Day this year is focusing on a #PressforProgress campaign in an attempt to motivate people to think, act and be gender inclusive so I’m proud that Sanderson Weatherall have shown such support in my role as WIP chairman. It’s going to be an exciting year both for me personally, and the Bristol team who are in the middle of a really strong growth period.”

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Businesses to benefit from change to business rates revaluations sooner than expected

Earlier today (Tuesday 13th March) Chancellor Philip Hammond delivered the first ever spring statement. The Spring statement providing an update on the overall economy, a chance to review progress made since 2017’s Autumn Budget and allows businesses to comment on proposed changes. One of the standout announcements in Hammond’s speech was the commitment to help businesses by bringing forward the next business rates revaluation to April 2021.

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Earlier today (Tuesday 13th March) Chancellor Philip Hammond delivered the first ever spring statement. The Spring statement providing an update on the overall economy, a chance to review progress made since 2017’s Autumn Budget and allows businesses to comment on proposed changes.

One of the standout announcements in Hammond’s speech was the commitment to help businesses by bringing forward the next business rates revaluation to April 2021.

[fulltext] =>

This change makes this current list, a four-year revaluation, a stepping stone to the three year revaluation pledge that the Chancellor made in the 2017 Autumn Budget.

Graham Isle, partner and business rates expert in our Leeds office commented, “Today’s announcement was a welcome one for businesses of all shapes and sizes across the UK as it will ensure that business rates bills are more in line with the property’s market rental value and therefore fairer bills will be generated.”

After 2021, the next three-year revaluation will take place from April 2024.

There was more good news among other changes in today’s announcement with the economy exceeding expectations in 2017 with five consecutive years of growth, manufacturing experiencing the longest period of expansion in 50 years and an ambitious plan to tackle the UK’s housing crisis.

To speak to Graham about today’s changes and your business rates liabilities moving forward please contact him on 0113 221 6119 or at graham.isle@sw.co.uk.

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