Non-executive with significant property experience joins Eddisons

Non-executive with significant property experience joins Eddisons

 

Eddisons, the property services and chartered surveying firm, has announced that Mark Stupples will join the business in a non-executive capacity with immediate effect whilst at the same time being appointed as a non-executive director of Eddisons’ parent company, Begbies Traynor Group plc.

Mark, 55, has spent his entire career in property services. He joined JP Sturge (which became King Sturge) as a graduate trainee in 1984 and was appointed to its UK management board in 2000. He served as UK managing partner from 2008 until 2011, during which he negotiated the sale of that business to JLL (the leading, global professional services and investment management firm specialising in real estate). Following the acquisition, Mark was appointed as JLL’s UK chief operating officer until leaving the business in December 2016 and during this time, he completed and integrated a number of UK acquisitions, including WA Ellis in 2014 and Integral in 2016.

Commenting on Mark’s appointment, Richard Roe, Managing Director of Eddisons said:

“We are delighted to welcome the arrival of Mark to join the Eddisons business as he brings with him a wealth of experience given his senior roles within leading UK property firms. Mark is ideally suited to help Eddisons achieve its ambitious growth objectives and his expertise of managing growing property services businesses and strategic insight will be invaluable as the Eddisons business continues to evolve both organically and through selected acquisition.”

 

Written by: Anthony Spencer on Wednesday 12/07/2017

 

 

Entire assets of high-end women’s clothing manufacturer go up for sale

Entire assets of high-end women’s clothing manufacturer go up for sale

 

The assets of a Chinese-owned clothing factory in Malta are to be sold by private treaty by UK valuer and asset disposal firm Eddisons.

Leisure Clothing, which manufactured women’s clothing for a range of high-end high street brands including Emporio Armani, Jaeger, Hobbs and Karen Millen, produced 20,000 garments a month at its Maltese factory and had a turnover of 5m Euros. Its Chinese parent company, Chong Qing-based CICET, has ended production at the facility after almost 30 years of operation.

Assets at the Leisure Clothing production plant include hundreds of industrial sewing machines, pressing equipment, CNC laying out tables as well as over 5,000 ladies garments, raw material and a fleet of eight vehicles.

Jason Pinder, Eddisons director of machinery and business assets, said: “Leisure Clothing was a long-established supplier to some of the most prestigious names in fashion and as such all the garment making equipment which we are putting up for sale is of extremely high quality. We are looking for a purchaser for the entire collection or significant parts of it.”

 

Written by: on Thursday 30/03/2017

 

 

Flagship Middlesbrough serviced office development up for sale

Flagship Middlesbrough serviced office development up for sale

A town centre serviced office development in Middlesbrough has been put on the market with a £3m asking price.

Cleveland Business Centre, which last year underwent a £1m refurbishment and is in an area close to Teesside Combined Court Centre earmarked for a £68m regeneration initiative by Middlesbrough Council, has seen an influx of new tenants over the past 12 months and is now almost fully let, with just two of its 34 units now vacant.

On the market with Eddisons, the business centre’s £2.95m price tag reflects a yield of 11 per cent on a ‘triple net’ annual rental income of £336,000. The centre covers 31,700 sq ft over three floors and is home to a roll call of professional firms, including lawyers such as Irwin Mitchell, barristers’ chambers and specialist recruitment companies.

Steven Jones, a director in Eddisons’ agency division said: “Cleveland Business Centre is a real success story that has given a boost to Middlesbrough’s fast developing economy. Following its refurbishment, in the space of just a few months it has gone from having only ten tenants to being almost fully let, bringing hundreds of jobs to the town in the process.”

He added: “As Middlesbrough’s digital and knowledge economy continues to go from strength to strength, demand for high quality serviced office accommodation, which fits the bill so perfectly for dynamic smaller businesses, looks set to escalate rapidly. Eddisons is seeing a growing demand for our services on Teesside and we expect Cleveland Business Centre to generate a great deal of interest among investors .”

As well as a new gym for staff and their families, the refurbished business centre also includes conference facilities and on-site car parking.

 

Written by: Steven Jones on Wednesday 29/03/2017

 

Sales success for Pugh with biggest auction in a decade

Sales success for Pugh with biggest auction in a decade

 

Pugh, the UK’s largest commercial auctioneer by number of lots sold, has broken records with its latest property auction held in Leeds and Manchester in February, which generated the firm’s largest sales total in more than ten years.

More than £21m and 187 lots of commercial and residential properties and development land across the north of England were sold in the auction – 80 per cent of the total lots up for sale. Properties ranged from a terraced house in Trimdon Station, County Durham, which had a guide price of £10,000 and sold for £21,000, to a grade II-listed four-storey office block on Minshull Street in Manchester city centre, which was guided at £1.25m and sold, on behalf of the Ministry of Justice, for more than £3m.

Established 25 years ago, Warrington-based Pugh was acquired by property consultant Eddisons last year and now has a team of 36 staff. The firm sold £100m of property at auction in 2016.

Managing director Paul Thompson said: “The February auction continued the really positive momentum we have seen over the last two years, with a strong appetite from buyers to invest in property. We achieved our best results in over a decade and the bidding was intense, fuelled by the diversity and quality of the properties and land on offer.”

He added: “We are also seeing an ever increasing demand from our investors from outside the north who are getting excellent returns for their money compared to other, more expensive, areas of the country. There is also a growing trend for more first time buyers to venture into the auction room, which can be a speedier, and sometimes less expensive, route onto the property ladder than a more conventional property purchase via an estate agent.”

Mr Thompson said: “Our recent auction was the largest since 2006, despite concerns over the impact of the recent changes to stamp duty and the uncertainty around Brexit. I’m confident that with low interest rates and strong investment returns on property we will continue to grow in 2017 as a national auction business.”

 

Written by: Paul Thompson on Thursday 09/03/2017

 

 

Changes to Business Rate – Spring Budget

Changes to Business Rate – Spring Budget

 

Following a widely publicised debate surrounding the revaluation of business rates, which has seen some small businesses faced with dramatic hikes to their bill, it was expected that Chancellor Philip Hammond would address these concerns in his Spring Budget. He did not disappoint. In a welcome move for small business owners negatively affected by the forthcoming changes, Hammond revealed a series of measures designed to limit the impact.

While Hammond said it was not possible to abolish business rates altogether due to them raising a vital £25bn a year for the Treasury, he unveiled a three point plan of attack backed by a £435m package to help those businesses facing the biggest increases.

  • Those businesses losing Small Business Rate Relief will benefit from an additional cap. This ensures their rates will increase by no more than £50 a month.
  • Recognising the role that pubs play within communities, it was announced that 90% of all pubs (those with a rateable value of less than £100,000) will receive a £1,000 discount on their business rates bill.
  • A £300m fund will be allocated to local councils in order to provide relief to businesses affected by an increase in their business rates. Councils will be able to allocate this money on a discretionary basis to individual businesses hardest hit by an increase in their rates.

Written on Wednesday 08/03/2017

 

 

Eddisons Taylors boosts Midlands team with new appointment

Eddisons Taylors boosts Midlands team with new appointment

 

Eddisons Taylors, the property and trading business valuation specialist formed when Eddisons acquired Northampton firm Taylors Business Surveyors and Valuers in 2015, has appointed a new Midlands-based chartered Surveyor and valuations expert as part of a strategy to continue to grow the business over the coming months. Chris Worrall joins the firm as associate director.

Chris, a specialist in the leisure, healthcare medical and education sectors, in particular, has joined Eddisons Taylors from the Birmingham office of property consultant Vail Williams, having previously worked for Pinders, part of the Christie Group. With more than 15 years’ experience of delivering trading valuations of businesses on behalf of lending institutions, he has in-depth national knowledge of a wide range of sectors

“I have had a national remit although over recent years focused on the Midlands – specifically the Birmingham market – and have built up a substantial body of contacts. My background fits well with Eddisons Taylors’ ambitions for growth in the region, and their already extensive client base. My strengths cover a wide range of trading asset valuations, from hotels, pubs, caravan parks and petrol filling stations to doctors’ practices, children’s day nurseries, pharmacies and dental practices” said Chris.

“I’m looking forward to helping Eddisons Taylors expand in these industries, as well as growing the Birmingham and wider Midlands client base,” he added.

Chris Mitchell, director at Eddisons Taylors, said: “Chris’ in-depth knowledge of the specialist areas within which we already operate will further strengthen and add depth to our team. We are seeing an escalating demand for our services in all of these sectors, particularly from within our extensive list of lending clients.

“The Eddisons Taylors brand is becoming ever more widely known and we are expanding our presence both in Birmingham and the wider Midlands area as well as nationally. Further similar appointments are also in the pipeline.”

 

Written by: Chris Mitchell on Tuesday 14/02/2017

 

 

Court Case Could Mark the End for Property Guardians in the UK

Court Case Could Mark the End for Property Guardians in the UK

 

A court case expected to take place in Bristol in the coming weeks could see an end to the practice of renting out vacant properties to guardians.

The case is being brought by residents of disused properties in Bristol, including a man named Nic Connor who is currently living in a disused nursing home in the city.

For the past two years, Mr Connor has been paying almost £300 per month in rent to Camelot Europe, a property company which has taken on the responsibility of running the vacant Broomfield Nursing Home site from local authorities.

Mr Connor is hoping that the case will bring clarity to the circumstances of property guardians in the UK and lead to a recognition of their rights as tenants.

However, depending on the outcome of the court case, it could be that the practice of using property guardians could soon become a thing of the past.

Mr Connor told Sky News recently that his experiences while living at Broomfield Nursing Home have been “horrible”.

“I wake up every morning and I have to wash in cold water because they’ve turned the hot water off,” he said.

“We have been harassed, we have had the lights taken out of the hallway. It has been horrible, but the reason we are taking it to court is so that a judge can decide whether we are living like tenants or legalised squatters that pay rent.”

Camelot Europe has responsibility for numerous vacant properties around the UK and uses guardianship schemes to keep down the costs associated with protecting and maintaining them for extended periods of time.

The company claims that its schemes, like the one involving Broomfield Nursing Home in Bristol, have been running successfully for many years.

A company spokesperson told Sky News that the property guardians’ legal case could put buildings and their occupants at risk and be “devastating” for Camelot Europe as a business.

There are reportedly around 40 companies which currently profit from arrangements involving property guardians around the UK and several thousand people who pay rent on a monthly basis to live as the unofficial guardians of disused buildings throughout the country.

 

Written by: Charlotte Peel on Monday 30/01/2017

 

 

Eddisons expands with Newcastle office launch

Eddisons expands with Newcastle office launch

 

Leeds-based property consultant Eddisons has expanded its operation with the launch of a new office in Newcastle, the firm’s 14th in the UK. The office will be headed by chartered building surveyor Adam Finch.

Based at city centre offices on Dean Street, Mr Finch, who joins Eddisons as an associate director with a background at the North East offices of both Capita and AA Projects, will initially lead a three-strong multi-disciplinary team including an architectural technician, with further hires planned over the coming months.

Eddisons has launched the new office in response to increasing demand for its property services in the North East. The new team will work for clients in both the public and private sectors, including organisations in the education and health industries and for landlords in the private rented sector.

Mr Finch said: “We have got off to a flying start with a stream of enquiries for our services from organisations in the education sector, particularly from academy schools that are looking to secure funding and carry out design and refurbishment projects, which is an area of expertise for us.”

He added: “We are also seeing a huge amount of interest from NHS trusts requiring feasibility studies and refurbishment works. Local authorities are also coming to us for assistance with design and project management work on public buildings, and we are working with local private landlords across the North East, as well as some London-based property investors, on the refurbishment of private rented properties.”

Eddisons’ managing director, Richard Roe, said: “Newcastle is a great city with a vibrant economy and we look forward to working with new clients here across a broad range of sectors. The launch of our new office is a milestone in Eddisons’ plans for growth and we expect to be expanding the North East team during 2017 and beyond.”

 

Written by: Adam Finch on Wednesday 25/01/2017

 

 

Leeds office market and new benchmark rent set for city centre space

Leeds office market and new benchmark rent set for city centre space

 

According to figures released today from the Leeds Office Agents’ Forum (LOAF), 109,682 sq ft of office take-up was recorded in Leeds city centre in the last quarter of 2016, alongside 28,942 sq ft in the out-of-town market.

The freehold acquisition of 33,686 sq ft at 1 Victoria Place by Medical Protection Society was the largest of the 30 city centre transactions to complete during the period. The 12,755 sq ft letting to BDO at Central Square was the second largest and also set a new benchmark rent for this cycle at £27.50 per sq ft.

Of the 21 deals transacted in the out-of-town market, the letting to SD Taylor at Turnberry Business Park in Morley was the only one above 5,000 sq ft to complete in this quarter.

Total 2016 Leeds city centre take-up stood at 430,000 sq ft, compared with 679,000 sq ft in 2015 which was the second highest year on record. Full year activity in the out-of-town market reached 312,000 sq ft compared with 268,000 sq ft from the previous year.

Bruce Edmondson from Cushman & Wakefield and spokesperson for the LOAF, said: “The Leeds office market showed its resilience last year with total 2016 take-up in line with our forecasts and a new headline rent set. Activity was however more subdued in the final three months of the year, as the impact of Brexit made some occupiers more cautious. Equally, a number of larger deals anticipated to complete in Q4 slipped into 2017 and will immediately boost this year’s figures.

“There’s currently around 500,000 sq ft of live office requirements for grade A space in the market, which coupled with public sector requirements from HMRC and the GPU and a flurry of upcoming lease events within the city centre will boost take up in 2017.”

Adam Varley from LSH added: “What is clear is that occupiers continue to want good quality office space. Schemes such as M&G’s Central Square and MEPC’s Wellington Place were major city centre benefactors last year with deals to the likes of RSM, BDO, Ward Hadaway and Sky Bet.

“The letting to BDO set a new benchmark rent in Q4 and we anticipate prime office rents will continue their steady upward trajectory. This underlines the continued demand for Grade A stock and low levels of new supply.”

The Leeds Office Agents’ Forum was established in 2010 by the leading surveying firms to collate and distribute definitive market information. Its members are BNP Paribas, Carter Towler, Carter Jonas, CBRE, Colliers International, Cushman & Wakefield, Eddisons, Fox Lloyd Jones, Bilfinger GVA, JLL, Knight Frank, Lambert Smith Hampton, Ryden, Sanderson Weatherall, Savills and WSB.

 

Written by: Steven Jones on Monday 23/01/2017

 

 

End of an era for British brewing: Eddisons to sell contents of the UK’s oldest large-scale brewery as developers move in

End of an era for British brewing: Eddisons to sell contents of the UK’s oldest large-scale brewery as developers move in

 

The contents of the historic Mortlake Brewery in Richmond, London, are to be sold via private treaty and online auction by auctioneer and valuer Eddisons in association with CBRE, drawing a line under the iconic site’s continuous use as a brewery since 1487. The Mortlake site, famous as the home of Watney’s Red Barrel and Pale Ale beers until the 1980s, was one of eight huge London breweries still operating in the mid ‘70s, which between them generated one in every five pints of beer drunk in Britain.

For the past 20 years the brewery produced vast quantities of Budweiser, with more than 60,000 bottles of lager an hour processed by its bottling line for distribution in the UK and across Europe. The plant’s yearly brewing capacity was 2.35 million hectolitres (235 million litres).

Developer Reselton, bought the brewery site in 2015 for £158m. Dartmouth Capital Advisors are currently developing plans for a mixed scheme consisting of residential, community, recreational and commercial use on the site next to the River Thames.

The plant’s Steinecker brewhouse, fermentation block, chip cellar and bottling line, along with grain handling equipment, over a hundred 100-and-200-hectolitre brewing vessels, yeast plant and energy centre will all be sold by private treaty. Hundreds of lots of ancillary assets will also be sold in an online auction on 16 January 2017 with an 11 January view day.

Jason Pinder, national head of machinery and business assets at Eddisons said: “The vast scale of the contents of this iconic brewery is likely to attract the interest of global brewing businesses as well as those in developing countries. This is a rare opportunity to invest in high quality, large capacity brewery plant. We expect high levels of interest in the plant and urge interested parties to contact us sooner rather than later”

 

Written by: on Tuesday 13/12/2016