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April Deals Update

Marketing / 4 Apr, 17

In March we were named as the most active commercial property agency in the North East by Estates Gazette. Our Newcastle and Teesside offices were awarded the title for transactions completed in 2016, totalling over 1.8million sq ft of commercial property let or sold in the region.

On March 1st a landmark business rates ruling by the UK Supreme Court stated that properties could be given a nominal £1 rateable value, on the grounds that is undergoing significant refurbishment which restricts it from being a functional space. Our rating team first started work on the S J and J Monk v Newbigin case in 2013, so welcomed the decision from the Supreme Court.

Our specialist caravan and holiday parks team completed a number of deals in March, including the sale of a 43-acre holiday park in Northumberland that was marketed off a guide price of £5.5million. They also sold parks in Plas Newydd, North Wales and Kirkby Stephen in Cumbria off guide prices of £1.295million and £800,000 respectively.

Our team in the North East has a number of properties currently available, including 4,000 sq ft of office space at Preston Farm Business Park, a prominent car sales unit in Darlington and a number of Newcastle City Centre offices at St James Gate, One Trinity Gardens and on Grey Street, just down the road from our offices. Acting as retail agents we have also helped secure a major new anchor unit at the Royal Quays Outlet in North Shields, the new space, situated on the main car park of the centre, has been innovatively created using a large inflatable dome structure.

Our Corporate Real Estate team sold a large mixed-use property, located prominently on the corner of Great Horton Road and Ashgrove, directly opposite the University of Bradford. The property is comprised of residential accommodation, office space and a large basement including a former bar.

Acting on behalf of the Royal Mail, our industrial agency team in Leeds sold a 9,500 sq ft industrial unit at Doncaster Carr Industrial Estate to Hird Rail Services. Our Leeds team also completed a number of letting deals, including a 7,350 sq ft unit on Wakefield Road to Hire Station and a 10,000 sq ft space to Howdens Joinery at Barnsley Trade Park.

Across the Pennines our Manchester agency team sold a ten-acre development site in Tintwistle, High Peak to BXB Bespoke Land Solutions, a strategic land business that are expected to submit a planning application for 165 residential houses to be built on the land. More recently the team also completed the sale of a 7,500 sq ft Oldham office building to the Immigration Advice Service.

At the beginning of March, new guidance was published for the minimum energy efficiency standards that come into effect in April 2018, read more about the regulations here.

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