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

Eddisons boosts Leeds operation with five new recruits

Eddisons boosts Leeds operation with five new recruits

 

Property consultant Eddisons has expanded its Leeds head office as the firm rolls out a series of new hires across its building and project consultancy, agency and valuations teams.

Tim Kirman has joined Eddisons’ building and property consultancy team in Leeds as an associate director from global property and construction consultancy Gleeds. He was previously an associate director at Dunlop Heywood, and a senior surveyor at Edward Symmons. Tim’s experience includes Development Monitoring, Quality Monitoring, Dilapidations, Condition Surveys and Due Diligence and he has worked with national and international clients which in recent years has included pre-acquisition surveys in Germany, Belgium and Luxembourg.

William Triner has joined the firm from Sanderson Weatherall as a graduate surveyor. Oxford graduate William also holds a masters degree in real estate and will be involved in a range of surveying work across Eddisons’ growing building and project consultancy division.

Eddisons’ building and project consultancy team recently secured £15m of Government funding for building and improvement projects in schools across the UK, and the firm recently won a place on the Homes England property services panel.

Meanwhile, Charles O’Hara joins the agency team as an agency surveyor. He will be based in the Leeds office alongside Steven Jones focusing on acquiring, selling and letting a wide variety of commercial property across the region.

Also joining Eddisons are two junior surveyors on placement from their undergraduate studies. Archie Ingham joins the valuations team from his surveying course at Northumbria University, while Angus Ellwood joins the building and project consultancy team before continuing his building surveying degree at Sheffield Hallam University.

Ian Harrington, national head of building and property consultancy at Eddisons said: “Both the valuations and the building and project consultancy divisions are forging ahead in 2018, with significant new business wins and an appetite for growth. We are really pleased to be adding yet more new recruits to our Leeds office and it is great to have such talented young people on board at Eddisons.”

 

Written by: on Thursday 27/09/2018

 

Almost 20% of Commercial Buildings fail to meet new Government Energy Standards

Almost 20% of Commercial Buildings fail to meet new Government Energy Standards

 

Almost a fifth of all the commercial property owners in the UK will be required to make improvements to their buildings to comply with new government energy standards. Failure to comply will see property owners run the risk of being barred from letting their properties.

The Energy Act was passed in the last Parliament and it includes rules that come into play in 2018. These new rules state that it will be unlawful to rent out a business property which does not meet the minimum energy efficiency standard. This minimum standard is an “E” rating with “A” being the highest possible efficiency rating.

The research was carried out by a national property agency and it found that nearly 20% of all commercial property currently has a rating of “F” or “G” which means they will have to make an improvement before 2018 to avoid penalties and the risk of no longer being able to rent out their property. Another 19% of properties are currently rated “E” according to the research which sees them teetering on the brink of compliance. The research categorised nearly 40% of all properties as potentially running into a performance risk if changes aren’t made before 2018.

From 2018, buildings that do not meet the minimum Grade “E” standard will be classified as ‘substandard’ which will affect the value of the property and also place owners in the firing line of penalties up to £150,000 if they do not comply.

The current guidelines require landlords renting out commercial property over 50 sq. m in size to have a government-approved energy performance certificate but they do not need to meet a specific Grade “E” standard and there is no obligation to carry out improvement works. It is very likely both landlords and property owners will be concerned about the level of change they need to make and the costs involved to comply with the legislation which comes into effect in just over two years time.

“Owners should bear in mind that occupiers will increasingly favour higher EPC-rated buildings which will have lower running costs, and help companies prove they have a strong sustainability track record,” said Phillip Webb; a property consultancy expert who helped commission this research.

Offering an attractive prospect to potential tenants means ticking every box and from 2018 this includes meeting the minimum energy efficiency standard.

The current guidelines require landlords renting out commercial property over 50 sq. m in size to have a government-approved energy performance certificate but they do not need to meet a specific Grade “E” standard and there is no obligation to carry out.

 

Written by: John Padgett on Friday 26/02/2016

 

How to choose a commercial building surveyor

How to choose a commercial building surveyor

 

If you’re looking to buy or lease a commercial building you’ll need to commission a full structural survey. The surveyor’s job is one of the most important aspects of any property transaction and will safeguard against problems further down the line. We look at how to choose a commercial building surveyor.

What does a commercial building surveyor do?

According to the Royal Institution of Chartered Surveyors (RICS), surveyors offer ‘expert advice on construction and property related matters’. This simple description belies the expertise and responsibilities which go into the work that a commercial building surveyor does and makes the role seem less hands-on than it actually is.

A surveyor’s responsibilities can be far-reaching and encompass:

  • Assessing the condition of building, prior to purchase or lease, to identify and analyse any defects, and suggest necessary repairs
  • Offering advice on managing and supervising building maintenance
  • Providing up-to-date advice on building regulations and legislation relating to property matters
  • Managing projects to ensure they are completed to schedule and on budget
  • Offering advice on sustainable construction, energy efficiency and the environmental impact of a project or redevelopment
  • Advising on disability access and on health and safety related matters
  • Preparing a Schedule of Condition and getting involved in any negotiations for dilapidations

How to choose a surveyor

As with many professions, word of mouth is always a good place to start. Ask around among your friends and professional colleagues to find out who, in their experience, offered good service at a reasonable price.

If you’re approaching the task of finding a commercial surveyor from scratch, it is vital that you source a firm which employs professionally-qualified individuals. Look for companies which advertise themselves as ‘Regulated by RICS’ and ensure that any surveyors you contact have the following qualifications: AssocRICS (Associate), MRICS (Member) or FRICS (Fellow). This will guarantee that the people you engage are not only suitably qualified and trained but are regulated by RICS, follow strict rules of conduct and adhere to best practice to offer the highest levels of service. RICS members also have comprehensive professional indemnity insurance to protect their clients in cases of professional negligence. The RICS website (http://www.rics.org/uk/) has details of over 80,000 UK-based surveyors so sourcing one in your area who has local expertise should be simple.

Here at Eddisons, all our surveyors hold accreditation from RICS and are experienced in both domestic and commercial surveying, as well as many other aspects of their profession. If you need advice about a commercial building survey or need to source a suitably-qualified surveyor, talk to one of our team.

 

Written by: Ian Harrington on Thursday 31/03/2016

 

What is included in a full structural building survey?

What is included in a full structural building survey?

What is included in a full structural building survey?

If you’re considering purchasing a commercial building one of the most important parts of the research you’ll need to do is to get the property surveyed. The process is similar to a residential property survey but differs in some very important areas. We take a look at the process to see what’s involved.

There is no such thing as a standard commercial property survey. As every building is different, so are the requirements of the purchasers. A commercial property survey can also be more detailed than a domestic one and may focus on the areas of main concern which the purchaser has – this information can be personalised to suit the purchaser’s precise requirements. There are three sorts of commercial property building survey:

A Building Survey

A detailed inspection and report undertaken by a qualified and highly-experienced surveyor, this will give the prospective purchaser a clear picture of the condition of the building in question. It will give comprehensive details of its current condition, highlight any defects, and suggest solutions to maintenance issues which may arise in the future. The report may also be illustrated with photographs to give a more complete picture.

As most modern commercial buildings are often constructed from materials such as steelwork, reinforced concrete or exterior cladding, which are not common in domestic properties, it is important to have an understanding of the technical nature of the construction. Surveyors are legally obliged to find and report on any major problems they discover in a property. They will examine the roof, the walls, the floors, the windows and doors, any chimneys or cellars in the property, as well as outbuildings and garages. They will also look in manholes and cupboards, and inspect the services. They are looking for potential problems such as whether supporting walls have been altered, renovations which have taken place without the appropriate planning permission, any evidence of hazardous materials in the property, such as asbestos, whether the property has evidence of damp or dry rot, any insect infestations, such as woodworm, unusual cracks which may be evidence of subsidence, whether the roof and masonry work is in good condition, if the supporting timbers or steels are damaged, and whether there are any large trees near to the property which may cause drainage or foundation issues.

There are numerous, very persuasive reasons why you should commission a Building Survey prior to purchasing any commercial property. The most obvious of these is to reassure yourself that the property will not need unforeseen expenditure after purchase. In addition, when purchasing a commercial property in order to rent it out, complex legislation will apply both to the landlord and the tenant. If problems arise during the survey, it strengthens your position in any negotiations you may wish to undertake to lower the price, or gives you the option to withdraw from the purchase altogether.

A Schedule of Condition

This report will document the condition of a commercial building as it currently stands and provides invaluable information for any potential tenants. It will investigate every element of the building, and detail them along with relevant photographs. It can be commissioned by a property owner who has refurbished his or her premises before handing it over to a tenant in order that its condition can be documented and returned to this condition at the end of the lease. It should also be commissioned by tenants before signing a commercial lease in order to limit future repair and maintenance liability.

A Schedule of Dilapidations

At the end of a lease, the tenant is expected to return the property to the landlord in a good state of repair. A full schedule of dilapidation can be commissioned by either party to review the condition of the building and to decide on what repairs are necessary. The tenant can then either make the repairs themselves or negotiate a figure with the landlord to cover the costs of the work.

So whether you’re considering purchasing a commercial property or are already involved in leasing one or more to a tenant, the importance of commissioning a building survey cannot be underestimated. The team at Eddisons can advise you on your options, and because they’re all highly-experienced and –qualified you have the reassurance that your survey will be handled in a professional, independent manner so that you have the information you need to make an informed choice.

Whether you’re considering purchasing a commercial property or are already involved in leasing one or more to a tenant, the importance of commissioning a building survey cannot be underestimated

 

Written by: Ian Harrington on Thursday 25/02/2016