Double win at the Estates Gazette awards

Eddisons (incorporating Barker Storey Matthews) has bagged a brace of trophies at the Estates Gazette Cambridgeshire 2020 Awards.

The company was confirmed as winners of the region’s “Most Active Agent” award this week – a continuation of BSM’s winning the award for the past 6 years.

The firm’s Julian Welch also garnered the EG “Dealmaker of the Year” award, and was delighted with the outcome.

“These awards mean a great deal to us as a national business and help us to continue cementing Eddisons’ presence as market leaders across the East of England region,” he said.

“It’s great news and testament to the ongoing hard work of the whole team for continuing our winning streak.”

Also name in the awards were Cheffins in second place, with Bidwells in third, Carter Jonas in fourth and JLL in fifth.

Huntingdon surveyor is ‘outstanding’ in his field

Huntingdon surveyor is ‘outstanding’ in his field

A surveyor in the Huntingdon office of Barker Storey Matthews – now part of Eddisons – has been recognised by the Royal Institution of Chartered Surveyors (RICS) and rewarded for his outstanding achievement on graduating this summer.

Matthew Hunt, the former trainee and now graduate surveyor at the property agency’s Huntingdon office, was awarded first class honours in Real Estate by Birmingham City University and won the RICS – the industry’s professional body – prize for ‘Outstanding Achievement at Undergraduate Level’ for attaining the highest overall mark on the degree course for his work, which included a dissertation on the upgrading of the A14 trunk road and its effect on the local commercial property market.

Matthew joined Barker Storey Matthews in 2014 and has successfully combined his degree studies, part time, with full time employment as a trainee surveyor at the firm’s Huntingdon office.

Commenting on Matthew’s graduation, Richard Adam, Director and Head of Agency at Barker Storey Matthews’ Huntingdon office, said, “To combine part time study so successfully with the demands of full time employment is an achievement in itself and for this Matthew is to be commended.

“However, to also achieve recognition from the RICS at this stage of his career is a testament to Matthew’s talents in his chosen professional field.

“Undoubtedly, Matthew’s hands-on commercial knowledge of the Huntingdon area fed in to his studies and his dissertation.  In turn, his dissertation about the strategic importance of the A14 improvements and the business opportunities for the Huntingdon area gives academic insight, adding value to the services we offer to our clients.

“We are proud of all Matthew’s achievements since he joined Barker Storey Matthews and he is an asset to the firm.”

Matthew will continue to study and train towards the RICS Assessment of Professional Competence (APC), a globally recognised qualification which is acknowledged as a marque of excellence and professional competence in the property sector.

Growing fire safety business relocates to new Wakefield offices

Growing fire safety business relocates to new Wakefield offices

Orange Fire Protection, which provides fire sprinklers, extinguishers and alarms for commercial and residential properties, has relocated to new, 6,500 sq ft offices at Queens Court in Wakefield.

The business, which launched in 2016 with eight staff, has more than tripled in size over three years and now has a workforce of 26. A heightened awareness of fire safety in the wake of the Grenfell Tower disaster in 2017 has led to a number of new contracts for the business.

Orange Fire Protection director Lewis Klimo said: “The fire protection industry is in much higher demand at present and we are receiving large numbers of enquiries about the services we offer, including high-tech sprinkler systems and water mist fire suppression systems, for various building types.

“Only last month we were awarded contracts to install our systems in three further projects, including designing and installing a wet and dry riser system to protect a new 18-storey high-end residential development in London.”

Property agent Eddisons acted on behalf of Harrogate-based landlord Westcourt Group to secure the new Queens Court offices for Orange Fire protection. Eddisons head of agency Steven Jones said: “Orange Fire Protection works in the crucially important area of making our buildings safer and it was rewarding to be able to help them relocate to great new premises that will accommodate their growing team.”

He added: “A shortage of quality office space is pushing up rents in Wakefield and there are certainly signs that demand for premium space is growing in the town.”

Eddisons is a multi-disciplinary firm of chartered surveyors. Established in 1844, it operates across the UK and has a head office in Leeds. Harvey Burns & Co acted as joint agent on the deal.

Written by: Steven Jones on Wednesday 17/04/2019

Eddisons expands across Eastern England with acquisition of BSM

Eddisons expands across Eastern England with acquisition of BSM

 

Leading national property consultancy, Eddisons, has today confirmed the acquisition of Barker Storey Matthews (BSM) one of the largest independent chartered surveying firms in Eastern England.

BSM was recently ranked the overall winner for Eastern England in the EG Deals Competition 2018 (‘EG’) for commercial property agents and acquisition will see the experienced 38-strong team integrate with the current Eddisons team.

Eddisons will also expand its national office network to 20 by incorporating BSM’s premises in Cambridge, Huntingdon, Peterborough and Bury St Edmunds, further strengthening the company’s ability to deliver specialist property services on nationally.

BSM is a multi-disciplinary practice and delivers services consistent with those offered by the existing Eddisons business, including commercial property agency, property management, building consultancy, professional services (including valuations) and planning services.

Eddisons Partner, Anthony Spencer, said: “I am very pleased to welcome the BSM team into Eddisons; it widens our geographical coverage to twenty offices around the UK and increases the number of clients. This is our fifth Eddisons acquisition since we joined the Group and we continue to seek opportunities for further growth, both organically and by strategic acquisition.”

Steve Hawkins, Managing Director at BSM, commented: “Through our talented team of people, Barker Storey Matthews has developed a market leading reputation for delivering quality property advice across the Eastern region.

“We are excited to be joining the Eddisons team as there is a natural overlap with the services we offer and an opportunity to work with like minded individuals. This strengthens our proposition to our dedicated client base and we look forward to developing the opportunities the deal presents. Not only will we be able to offer a greater spread of professional services but we will be able to do so on a UK wide basis.”

This marks the second acquisition of 2019 for Eddisons, having bought transport and planning consultancy Croft earlier this year. The firm has also acquired industrial auctioneers CJM Asset Management, real estate and business valuers Taylors, and leading property auction business Pugh & Co.

The BSM deal marks the second acquisition of 2019 for Eddisons.

Written by: Anthony Spencer on Friday 05/04/2019

Top tips for commercial property occupiers on controlling costs

Top tips for commercial property occupiers on controlling costs

In business, as in life, it’s important to control your outgoings. Minimising costs can sometimes make the difference between a negative or a positive bottom line – it really is that important. We take a look at how you can control costs if you’re the occupier of a commercial property.

Rent

After staff costs, rent will probably be your biggest outlay. Most experts agree that rent will amount to around 60% of your occupancy costs, so it’s worth taking the time to select exactly the right commercial property for your needs both now and in the medium-to-long-term future – few businesses can cope financially with a move after only a short time in occupancy. It makes sense, therefore, to try to negotiate the rent down as much as possible before signing the lease. If you can persuade your landlord to give you a rent free period, so much the better. Another factor to consider is whether your landlord is charging you VAT on your rent. If you can negotiate for this to be excluded, you’ll make a substantial saving – VAT is currently 20%. If you do have to pay this additional expense ask your accountant about how much you can recover.

Service charge

Service charges can eat into a budget and fluctuate unpredictably, making any attempt at cost control difficult. It is imperative that you check the lease before you sign for clauses which may be ambiguous as to whether an item is a service or a repair and maintenance issue. Try not to have items of capital expenditure included in your lease and check what’s included and what isn’t so you’re not faced with an unexpected outgoing when you need it least.

Efficiency

Being energy efficient has two major benefits. Not only will you be doing your bit to save the planet, but cutting down on your energy usage will also save you money. Up to half your business’ energy costs will go on heating and/or cooling so it is a massive outlay that can be reduced with a few simple measures.

Check the Energy Performance Certificate your landlord provides to find out how energy efficient the premises is before you move in – it should give you a good indication of how much you have to budget for bills. An efficient programme of repairs and maintenance will do wonders to cut your energy bills, but you can also reduce them further by controlling the heating/air conditioning in your building to ensure a steady, comfortable temperature for staff, having your boiler or air con system regularly serviced, encouraging employees to turn lights off when they’re not needed (or fitting occupancy sensors), and making sure that the building is as well insulated as possible to reduce heat loss. Also ask your landlord about changing to an energy provider with a lower tariff, if possible.

Simple steps like these can effectively cut costs on commercial properties and help improve your bottom line. If you’d like more information about any aspect of leasing a commercial property get in touch. The Eddisons team can offer you up-to-date and relevant advice on renting a commercial property whether you’re new to business or a seasoned professional.

Written by: Steven Jones on Monday 11/03/2019

Prominent Liverpool development sold for £2.35m

Prominent Liverpool development sold for £2.35m

Regeneration of the prominent Liverpool city centre development Victoria House was given a significant boost last week, after property consultant Eddisons completed the sale of the troubled building to London-based developers.

Transformation of the notorious seven-storey former office building had stalled after previous owners Pinnacle Residential (Liverpool) Limited had fallen into administration, with a number of potential owners having handed over deposits.

The building, with planning permission for around 70 apartments, had been stripped to the shell prior to the administration. A national marketing campaign was launched to find suitable buyers for the property and generated significant interest.

The new owners intend to complete the transformation of the 27,000 sq ft building and refurbish to high-specification residential units.

Lisa Moxon Joint Administrator and Partner at Dow Schofield Watts, stated: “We are delighted to complete the sale of the property for the benefit of the bank involved and for the many parties who had paid deposits to Pinnacle on a number of the proposed flats.”

Robert Diggle, Director at Eddisons and agent for Dow Schofield Watts, said: “We’re delighted to complete the sale of this landmark city centre building and enable an empty building to be transformed.

“Significant interest was generated on a local, regional and national basis from a diverse range of end users, whose plans for the building ranged from developing for residential apartments to apart-hotel, hotel and office use.

“Buildings in Liverpool City Centre are highly sought after and demand a premium at this present time, and we’re pleased we have achieved an excellent price for the client.”

Aron Azouz of A R & V Investments Limited commented: “We are excited to add a significant, prominent building in Liverpool City Centre to our portfolio. We intend to carry out a comprehensive redevelopment of Victoria House and look forward to bringing a unique product to the market. Units will be available to rent from Summer 2020.”

The Eddisons agency team help a range of corporate, public and private sector clients with the full range of commercial property agency services – providing leasing & letting, acquisition & disposal, transactional property advice in order to obtain best value.

Click here to search available commercial properties.

 

Eddisons scores £2.5m hat trick of Leeds warehouse deals

Eddisons scores £2.5m hat trick of Leeds warehouse deals

 

 

Property consultant Eddisons has completed £2.5m of deals to sell three Leeds industrial and warehouse sites in under three months, after selling a 15,000 sq ft warehouse on Burley Road.

The 224 Burley Road property, owned by racking firm Sandring, completes the trio of deals and was bought this month for £490,000 by Leeds Property Rentals. The unit, which had recently lapsed planning consent for redevelopment to apartments, will be used by the business as storage space and a joinery workshop to service its rental properties in the area. The deal was supported by Handelsbanken.

Acting on behalf of security firm Loktec, in September Eddisons also sold a 9,000 sq ft purpose-built modern warehouse unit at Whitehall Cross for £710,000 to automated metal gates and doors business, Rolling Center. The company is expanding and relocating from its current premises in Hunslet.

Last month Eddisons sold 30,000 sq ft Anchor Works on Swinnow Lane in Bramley to fibreglass mouldings business MPM for £1.3m. Supported by Leeds City Council Economic Development team, the family business was looking for new premises after being hit by a devastating fire at its Pudsey factory in February. High?tech label?printing business Print Leeds relocated to the neighbouring Tanda Works unit 12 months ago, in a deal also led by Eddisons.

Eddisons agency team director, Steven Jones, said: “It is tremendously satisfying to be able to help businesses to grow by finding them the property they need.

“In the case of MPM it was essential that they found a suitable new premises enabling the business to get back to full-scale production after the fire sadly destroyed their factory, and they are now back to capacity in their new unit.”

He added: “We are seeing escalating demand for quality owner?occupied industrial and warehouse space in Leeds. In the right locations supply is struggling to keep up with demand.”

It is tremendously satisfying to be able to help businesses to grow by finding them the property they need.

 

Written by: Steven Jones on Thursday 22/11/2018

 

Gym group to create ‘mega gym’ after recent deal

Gym group to create ‘mega gym’ after recent deal

 

Eddisons have agreed a deal to let a 22,000 sq ft unit, enabling JD Gyms to open a new ‘mega-gym’ in Huddersfield.

Acting with joint agents Smart 4 on behalf of Albion Land, Eddisons secured the deal at St Thomas Road in Huddersfield, and the site is due to open in January 2019.

This will be JD Gyms’ 21st fitness centre as the firm rolls out a series of super-size new gyms in cities across the north of England, Scotland and the Midlands.

Purpose-built as a leisure facility in the 1990s, the property is also home to Mecca Bingo and Grosvenor Casinos, and a further 14,000 sq ft unit remains available to let.

Eddisons Surveyor Matthew Jennings said: “We have been liaising with JD Gyms for a while and it is great to be able to help bring such a fantastic facility to Huddersfield. St Thomas Road is an excellent location, just half a mile from the city centre and with plenty of parking. Not surprisingly we have also had a great deal of interest in the remaining unit.”

James Air, group acquisitions manager for JD Sports Fashion, said: “We have had a very good initial response to our early bird gym membership offers and Huddersfield looks set to be a thriving fitness hub for the local community.

“We will offer the latest equipment and classes within our high-end environment, with the benefits of easy access and free parking”.

Smart 4 director Oliver Church added: “The strength of Huddersfield as a prime location, and St Thomas Road in particular, is underlined not only by JD Gyms taking a new lease, but also by both Mecca Bingo and Grosvenor Casinos committing to their futures in the area by extending their lease terms.”

Eddisons Agency team help a range of corporate, public and private sector clients with the full range of commercial property agency services – providing leasing & letting, acquisition & disposal, transactional property advice in order to obtain best value.

To view available Agency properties please click here.

 

Written by: John Padgett on Monday 05/11/2018

New Instruction for Eddisons Liverpool Agency Team

New Instruction for Eddisons Liverpool Agency Team

Eddisons have been instructed to market a 70-apartment scheme in Liverpool following the collapse of Pinnacle Residential Liverpool.

Less than a month after the firm collapsed, administrators instructed the Eddisons Liverpool Agency team to put one of the failed developer’s projects on the market.

The upper floors of Victoria House on James Street were set to be converted into more than 70 apartments. The developer had already sold a number of the apartments off-plan, with studios priced from £66,250; one-bed flats priced from £84,610; and two-bedroom flats priced from £161,400. Around 40 of these were sold to investors, at a combined cost of £2.2m.

Victoria House is a landmark city centre property in the heart of Liverpool, so a high level of enquiries from investors and other potential buyers is anticipated.

The Eddisons Agency team operates across the UK, with offices in Liverpool, Manchester, Bradford, Leeds and London. The experienced team has a strong track record in acquiring, selling and letting a wide variety of commercial property including office blocks, industrial buildings and student accommodation.

 

Written by: Robert Diggle on Wednesday 09/05/2018

 

 

Commercial Property in a pension – pros and cons

Commercial Property in a pension – pros and cons

 

If you’re thinking of adding commercial property to your portfolio to augment your pension you need to be aware that there are both good points and bad points. We take a look at some of the pros and cons so that you can make an informed decision.

Self Invested Personal Pensions (SIPPs)

Since the early 1990s it has been possible for individuals to choose where they invest their money for their pension, avoiding the traditional route of ‘packaged’ pensions and taking advantage of greater choice and flexibility. These Self Invested Personal Pensions (SIPPs) are now a popular choice for people planning for a comfortable retirement.

The pros

Among the benefits of SIPPs is the ability to hold commercial property in a portfolio to enhance any company pensions you may have. This potentially helps you benefit from attractive rental yields as well as strong capital returns.

Rental yields stabilised this year, and with the possibility that positive growth in capital values may be seen towards the end of 2017 capital growth remains one of the attractions for investing in commercial property.

There are also tax advantages to holding commercial property in a SIPP. You will pay no income tax on rental income, for example, and if you sell the property you will pay no Capital Gains Tax. Commercial properties held in a SIPP also fall outside your estate for the purpose of Inheritance Tax. In addition, if you pay VAT on the purchase of a commercial property, you can reclaim the money you have paid via a SIPP which is registered.

Other benefits include your commercial property being protected against creditors in the event of business or personal bankruptcy, the lack of corporate or individual liability on SIPP loans, and the ability of a property to be transferred to a beneficiary in the event of a SIPP holder’s death.

The cons

Downsides to holding your commercial property in a pension include some strict rules which you must abide by. For example, commercial property held in a SIPP cannot be used as security for any loans to property companies which you may own, thereby limiting your financial and investment options. SIPP loans also tend to be short term, which can make them prohibitively expensive. In addition, the interest on such loans does not qualify for tax relief.

If you own the building and run a business from it, you are legally obliged to pay the full market rent and if you fall into arrears, the operator of the SIPP can and will pursue you until the arrears are paid in full.

If you rent out your commercial property to tenants other than your own company, there is the possibility that they may default on the rent, or that you may have prolonged periods where the property is not tenanted at all. In these circumstances, you may have to make additional payments to your SIPP from another source of income, or risk having to sell the property, potentially under circumstances which are not fortuitous.

You must also consider the costs incurred in holding a commercial property, whether it is tenanted or not. These include business rates, service charges and any management fees which may be due.

Finally, reliance on a single commercial property in a SIPP may not offer proper diversification which leaves it open to poor performance and a reduction or lack of income for the owner.

If you’re considering holding commercial property as part of your pension you advised to seek professional independent advice before making a decision. If you would like advice and information on any aspect of investing in commercial property talk to a member of our team.

 

Written by: Robert Diggle on Monday 18/09/2017