Posted on September 9, 2011 by John Cronin
A first letting has been secured for a speculative office redevelopment in Macclesfield, Cheshire.
Commercial property developers Quorum Property have let the 1,734 sq ft fourth floor of their Macclesfield Exchange building (pictured) in the centre of the town. Claims management company CollectaCase has agreed to take the space and is to relocate from nearby offices.
The Macclesfield Exchange building is adjacent to Quorum’s Castle House, a converted warehouse that is now used as a 68-bedroom Travelodge. Macclesfield Exchange is a converted mill building that offers 10,000 sq ft of office space over five floors. Suites are available to let from 900 sq ft and largest floor plates are 2,050 sq ft. The first, second and third floors are available to let. The speculative scheme was completed in September, 2010. The quoted rental price is £15 / sq ft.
Macclesfield Exchange is not the only significant town-centre building currently available in the Macclesfield office market. Agents Colliers International have been instructed to market the former headquarters of the Cheshire Building Society. The 42,000 sq ft building on Castle Street has been put up for sale although a letting might be considered. The building has existing planning consent for use as offices. A guide price has not been disclosed.
Commenting on the building, Rupert Barron, the director of offices at Colliers Manchester said: “We’re very confident that this impressive building will be of great interest to businesses seeking a purpose-built head office or a centrally-located building property of prominence that can be adapted to meet their particular requirements.”
Agents Greenham Commercial are acting on behalf of Quorum Property.
Posted in Cheshire |
Tagged Renovations, Rental Prices, Speculative Developments |
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Posted on September 7, 2011 by John Cronin
A London-based commercial property company has received planning permission for a new office scheme on the site of an historic building in Farringdon.
Derwent London (Derwent) has secured planning consent for a new office development on the site of the Turnmill building in the Farringdon and Clerkenwell area of London. Derwent plans to demolish the existing building and replace it with a 70,000 sq ft, six-storey office block (pictured).
Originally constructed in 1887, the Turnmill building was used as stables by the Great Northern Railway company until around 1930. The building has subsequently been used as a wine warehouse, a popular night club and following refurbishment in the 1980’s as serviced offices for small businesses.
The Turnmill has been the subject of several redevelopment schemes in recent years. Derwent had previously failed to gain approval for a redevelopment of the site but finally succeeded with a revised, smaller office scheme last week. The decision to award planning consent has been met with criticism by several conservation groups including English Heritage, Save Britain’s Heritage and the Victorian Society. Attempts to attain Listed status for the Turnmill have been rejected on the grounds that the building has had too many alterations.
Islington Council planning committee, commenting on their decision said: “The new building is considered to be of exceptional design. Officers are of the view that the proposal would maintain character and appearance of the Clerkenwell Green Conservation Area.”
Construction of the speculative scheme is expected to start in 2012. Architects for the scheme are Piercy Conner.
Posted in London |
Tagged Demolitions, Speculative Developments |
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Posted on September 6, 2011 by Rob Powell
The TUC has warned that dangerous levels of dust in the workplace are leading to thousands of deaths every year.
The TUC is sending new guidance to its union safety reps following studies into the hazards of dust exposure.
TUC General Secretary Brendan Barber said: ‘Because disease and death caused by the various types of dust can take many years to develop, both employers and regulators take them far less seriously than deaths caused by injury, yet they are just as tragic for both the workers and their families.
‘Each and every one of these thousands of deaths caused by dusts is avoidable. Given the scale of the problem we need an urgent examination of both the current standards and their enforcement.’
The TUC’s annual Congress meeting takes place next week in central London.
Posted in Misc |
Tagged Health and Safety |
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Posted on September 5, 2011 by John Cronin
Aberdeen & Grampian Chamber of Commerce (AGCC) has confirmed that it is to relocate to new offices, having agreed to a pre-let at a new build scheme in Aberdeen.
AGCC is to relocate to new office accommodation at Aberdeen Energy and Innovations Parks. AGCC has agreed a pre-let on 4,780 sq ft of floor space at The Hub (artists impression pictured) which is scheduled for completion in summer 2012. AGCC is to relocate from slightly large offices nearby and expects to see only a marginal rise in accommodation costs.
The Hub is a low-carbon, 13,500 sq ft building that is expected to achieve a BREEAM rating of ‘Very Good’. The two-storey building will offer Grade A office space along with approximately 2,000 sq ft of ground floor space suitable for exhibitions. The speculative scheme is being constructed at the Aberdeen Energy Park, which is the sister site to the Aberdeen Innovation Park.
The Hub is part of a joint venture between Scottish Enterprise and Buccleuch Property. Formed in July, 2010 the joint venture aims to invest £10m in the business parks, with several of the nine multi-let buildings being targeted for refurbishment. The two parks are a key component of the ambitious Energetica project which aims to create a world-class, mixed-use development zone north of Aberdeen.
Aberdeen Energy and Innovation Parks offers a range of accommodation with office suites available from 250 sq ft and serviced office facilities are available. Quoted rental prices are in the range £12.75 per sq ft to £20 per sq ft. Marketing agents are CB Richard Ellis.
Posted in Aberdeenshire |
Tagged Business Parks, Rental Prices, Serviced Offices |
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Posted on September 5, 2011 by Nell Frizzell
“Will any of these budding entrepreneurs walk away with their money?” asks Evan Davis in this week’s Dragons’ Den introduction. Why do you ask Evan? Is Hilary going to mug them? Is Peter Jones a notorious pick pocket? I suppose we’ll just have to wait and see.
First up we have the husband and wife team of To Chan and Karen Ho who have brought with them a tank of whitebait. Ah, no. It’s a fish pedicure. You know – the places where you can get habitat-starved fish to eat your dead skin. Like a David Attenborough deep sea documentary, only you can find them at every festival, train station and high street. To and Karen want £150,000 for 30% equity so they can open two more shops.
Peter Jones the Brave volunteers to give the fish a testmunch. “It feels very odd and it’s likely to make me sweat,” says the communications millionaire. Some people pay a lot for that in Soho, Peter.
“I do feel very different to when I went in,” Peter continues. Probably because you’ve just taken part in the most undramatic Jaws sequel known to man, beast or fish. To and Karen are more than just amateur Aquarians: both did science at Oxford and then went on to work as consultants, in Karen’s case at Lehman Brothers. So, at least they’ll have a good reading list while the fish are digesting.
Hilary explains that when she goes to nail bars she sits there and calculates their profit. You can just imagine how much fun she is at hen dos. Sadly, To and Karen’s reticence about quick, mass market growth puts Hilary’s talons out of joint and she’s out.
“Tanks and cages make me feel sad,” says part-Greenpeace-hero-part-Rainbow-presenter Deborah Meaden, so she’s also out. MC Bannatyne points out that “Everybody can copy it,” while Theo Paphitis responds with a characteristically odd “You get a tick in the box, but I don’t quite get to a yes.” He’s such a poet.
Next up is Scott and Lee (wait, weren’t they in Steps? With come girl called Lisa?) with their new fitness craze Ski-Hop. Well, skipping certainly seemed to work out for Rocky Balboa and Apollo Creed. However, the Dragons seem underwhelmed. “You’ve got a long way to go to convince me to invest £100,000 in a skipping rope,” says Theo, apparently much summing up the mood in the warehouse.
The most awkward pitch of the evening (possibly the entire year) comes courtesy of the Teeside sign maker Alan Pearson. Alan just about manages to stutter, sigh and wince that he sells street name plates and some sort of plastic container – a “maintenance-friendly accessory” whatever the hell that is – before his pitch grinds to a uncomfortable, but undeniably peaceful stop. He had wanted £100,000 for 10% but as his mind goes blanker than Paris Hilton’s CV, the chances of a decent offer seem unlikely. He doesn’t know his gross from his net, 50% from 100% or margin from mark-up. He also paid himself somewhere between £40,000 and £4,000 over last year.
“You would make my foot itch” says Hilary. Oh well, at least he delivered the entire pitch like someone on the penalty line. Actually, make that the firing line.
The next pitch is a hand-held joystick for playing online poker. Duncan puts his hand in for a quick (not to mention losing) round before the grilling commences. Things go about as well as a pair of twos squaring up to a royal flush played by a psychic Mafioso.“Your previous track a record makes it likely that I will lose my money,” says Theo. Ouch.
Next up we have the fashionable East London twins Polly and Charlotte Vickery who seem to have come ready for a quick jumble sale – their clothing rail bulging with tops. Imagine Lily and Sarah Allen, but if one of them was blonde and neither of them had ever made any money. Polly and Charlotte’s label, Brat and Suzie, makes t-shirts and tops featuring the original designs of professional illustrators. These garments have then featured in Closer and Cosmopolitan (which are magazines, for those of you reading this in a pair of John Deere dungarees or a hessian sack.) The girls finish off each others’ sentences, want to start making dresses and named the label after their childhood pets. So far, so cute. Until they reveal that for each illustration – basically the entire selling point for the garment – they only pay the illustrator £20. That’s actually less than the cost of a single t-shirt. Which, from a business point of view is fantastic. Just not quite so fantastic for the penniless illustrators and possibly not their best PR move. Hilary “I’m really in to fashion” Devey sadly thinks the business is too risky for her investment and Polly and Charlotte leave empty handed.
After a quick bronco-bucking demonstration of a motorbike seatbelt fails to win the entrepreneur a single buck, we come on to the last pitch of the show.
Andy Bates’ career as a fire fighter came to an end a few years ago when he was involved in a high speed motor collision. So, consequently, he’s designed a really, really fast car. Well, of course. According to Evan Davis, this is “a compelling story from the passionate entrepreneur.” Y ou could also argue that this is a compelling story of a moth taking up a light bulb-engineering business, but what the hey. Andy is looking for £50,000 for 10% in his Sabre motorbike-powered car which can, apparently, be driven on actual roads too.
Despite the potential for expansion in to the American and Swiss market, most of the dragons scatter from Andy’s pitch like pigeons in front of a moped. Unsurprisingly, the petrolhead Peter Jones makes an offer of £50,000 for 35%. Duncan Bananatime then offers all the money for 50% but dropping that share to just 25% after a couple of successful years. Poor old Andy starts sweating like a pig in a Danepak factory under the strain of the decision. But, in the end, he very sensibly opts for Captain Carburettor aka Peter Jones.
So, from flesh-eating fish to bike-powered cars – it’s been a funny old show. Now, if you’ll excuse me, I’ve got a brand new maintenance-friendly accessory I just can’t wait to play with. Whatever it is.
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Tagged Dragons' Den Blog |
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Posted on September 2, 2011 by John Cronin
A well-known night club and rock venue in Blackpool has been purchased by the local council who plan to build new offices on the site.
The Tache club (pictured – source) on Cookson Street has been purchased by Blackpool Council for £400,000 and is set to be demolished by early 2012. The site was included in a compulsory purchase order issued in January.
The night club is on land targeted for a £250m mixed-use development known as The Talbot Gateway. The proposed scheme, amounting to 1.1m sq ft of floor space, is to include a supermarket, retail outlets, offices and a new transport interchange. Developers for the scheme are regeneration specialists Muse Developments.
As part of the Talbot Gateway scheme (masterplan), Blackpool Council is to spend £28m on new civic offices. The building will offer approximately 80,000 sq ft of floor space and will accommodate staff relocating from existing offices in the town. Talbot Gateway will offer in the region of 330,000 sq ft of office space with the aim of creating a new business district in the town.
The cost of the new council offices is being met through the sale of other council buildings including Westgate House in South Shore which is currently being demolished. The 240 staff have relocated to council-owned Progress House in Marton, which will be subsequently sold, and to serviced offices at Blackpool Football Club.
The Tache club is to remain open until the end of the year. Manager Ronald Blunden told the Blackpool Gazette that he is planning a final encore: “We are thinking of having a mini festival near the end, with the bands that have played here over the years.”
Construction work is scheduled to start in early 2012.
Posted in Lancashire |
Tagged Demolitions, Public Sector, Talbot Gateway |
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Posted on September 1, 2011 by Rob Powell
A serviced office provider has opened its second business centre in the City of London.
The newly refurbished offices from i2 Office are in Aldersgate, a short walk from the company’s existing City offices in Lloyds Avenue.
Philip Grace, CEO of i2 Office, commented; “We had an excellent response to our first City location and we are delighted to have been able to secure space in such a prestigious building. This will enable us to meet the demand, which undoubtedly exists, for flexible but high quality office space in this thriving business area.”
The Grade-A offices have a capacity of 250 workstations and are on the doorstep of the largest swimming pool in the City at Virgin Active.
The company also operates serviced offices in London’s Marylebone, Glasgow, Leeds and Milton Keynes.
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Posted on August 31, 2011 by John Cronin
A commercial property investment company has announced the completion of refurbishment works at a landmark office building in Birmingham.
Salmon Property has now completed partial refurbishment works at One Victoria Square, a large office building in Birmingham city centre (pictured).
One Victoria Square, located only 200m New Street Station, is interconnected to a second office building called Swallow House. The ninth floor has been refurbished and offers 6,500 sq ft of floor space that could be split into two. Rental prices are available on request.
Salmon Property purchased the 118,000 sq ft multi-let office property in January for £17.5m from vendors Serviced Offices UK which is a joint venture between Aviva Investors and Hermes. At the time of purchase the building was running at an occupancy rate of 88% with tenants including serviced office providers Regus, Lloyds Banking Group and the Home Office.
Commenting on the property purchase, James Bladon, of agents DTZ said: “One Victoria Square attracted good interest because it presents realistic active management opportunities to add value through lease re-gears, refurbishment, re-letting and the development of surplus sites.”
The £17.5m purchase price gave a yield of 8.3% on an average rental price of £13 / sq ft. Matthew Meaden, fund manager for Salmon Harvester Opportunity Fund, said: “This property offers us numerous opportunities for improvement. The tenant profile is strong but rents are low for such a well located office […] there are some voids for us to further increase our returns.”
Sole marketing agents are Jones Lang LaSalle.
Posted in West Midlands |
Tagged Renovations, Rental Prices, Serviced Offices |
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Posted on August 29, 2011 by Nell Frizzell
Whichever ‘creative’ convinced the Dragons that the opening sequence should show them posing as Anthony Gormley statues while Eric Claptonlite guitarsturbates underneath, gets a slap on the back from me. Ludicrously funny every time.
For those of you who have been passed out in a Jacuzzi for the last five weeks, the Dragons are hotel and healthclub owner Duncan Bannatyne, leisure expert Deborah Meaden, retail magnate Theo Pathites, telecoms giant Peter Jones and Hilary Duvey, who made her millions in haulage. And no, I don’t know what telecoms giants or retail magnates actually do either.
First up is the former-actor Darren Madison and the director Helen Wright. Well, if actors can do anything it’s beg for change from their acquaintances. Black curtains are stripped off to reveal 2D stage sets, which is apt considering the acting style with which the pitch is delivered. Polka Dot Pantomimes sing their way through a thigh-slapping pitch about needing some investment. Well, you know what they say: when it comes to business there is nothing like a lightning costume change and some smiling Aryan children to get the ball rolling.
“Duncan Bannatyne looks confused,” says Evan Davis. It’s probably just wind. So, what will Polkadot Pantomimes spend this money on? Scenery, props, costume, marketing and special effects apparently. Bring on the underwater midnight pantomime!
What’s their biggest theatre, asks Deborah? “Clacton.” A word that brings joy to the heart of investors everywhere. Hilary thinks they could succeed eventually, without giving away 20% of their business. “I think your passion with probably get you there”: the very slogan used by the Clactontourist board. Finally, Peter Jones praises their visually arresting pitch. “Even the kids were perfect.” Alright Peter. Sadly Darren and Helen leave with nothing.
“The dragons always like to see an entrepreneur walking up the steps with some tasty fayre in their hands,” says Evan. Fayre? What is this? Dragons Denne: The Restoration Years? Anyway, chef Paul DeCosta is making sexy, seductive, sensual and gorgeous chocolate. “I suppose I’m massaging you from the inside.” Oooh, blimey. I hope those bars aren’t ribbed.
After a few subliminal flashes of clock, traffic lights, clock and locker we have Kate Castle with what appears to be a Dog in a Bag. I’m not sure, but I think the RSPCA may have a problem with that. Ah, hold on. No. It’s Bog in a Bag. Now that’s a different kettle of faeces altogether. It is, put simply, a stool with a hole, a bin bag and a sanitary pad to “absorb any liquid.” Yum.
Kate is looking for £50,000 for 15%. “Peter Jones looks bewildered.” In fact, he seems really rather desperate to be allowed to poo through his own stool. He’s all but cutting through that leather armchair as we speak. Kate has trained with a major supermarket, worked for a DIY chain as an import analyst and now struggles to get children to shit through holes. Duncan calls it “The New Commmode” which sounds like a late-70s New York musical movement to me.
“You’re very investable,” says Peter Jones. Well, it’s a chat up line of sorts, I suppose. “The camping and caravanning market could really turn over some really chunky numbers,” follows up Deborah. Wow. Thanks Deborah. That’s a mental image I hadn’t banked on. She then offers £50,000 but wants 30% of the business.
Hilary then offers the full amount for 25%. It’s a bidding war between blonde and brunette. Oh, apparently not. Kate goes for the Wedge Welly magnate Theo Pathites instead.
Next up is Steven Myberg: a South African artist looking for cash. Actors, directors, artists: and they said the Arts Council funding cuts weren’t going to have an effect. Steve wants £70,000 for 20% of his swinging chair business. For some reason Steve starts his pitch with probably the most ill-advised story about Apartheid-era police brutality the Dragons have ever heard. Quite how physical abuse of a minor will help to sell swinging bum-shelves remains, I’m afraid, beyond me. “I want Myburgh to touch everyone in theUK,” says Steve. Shudder.
Sadly, even Hilary cannot be bought for the price of a copper flower, especially as she has been to Morocco, where gardens are adorned with cheaper swinging copper seats.
Other failures include a wing-mirror protector and a hanging basket anti-theft device from the badlands of ruralShropshire
The final pitch comes in the athletic shape of Henry Buckley and JJ Harding, ex-Carphone Warehousers and current chairmen of Jog and Post – a sort of Victorian leafleting business for which young people run across the city delivering leaflets and trying not to get run down by vehicles or whipped by passing policemen. Henry and JJ want £50,000 for 10% of their business. It’s nice of them to synchronise facial hair specially for the pitch. Jog and Post are currently delivering 250,000 leaflets a week in the capital and have 200 joggers working all over London. “We are a small business and we’re bursting at the seams.” Rather like my Uncle Bob in his red tracksuit.
Peter Jones makes an offer for a third of the business, making him an equal partner with the jogging duo. Haulage Hilary, as the owner of a national courier business, offers £70,000 for a 30% share. (Nice move Shoulders!) Duncan Bannatyne then offers £50,000 for 25% which would mean that the beard buddies would keep the deciding vote in the company. Finally, Deborah then offers the full fifty grand, but for just 20% of the business, which is enough, as they say in Hollywood, to seal the deal.
So there you have it: shitting in bin bags, running through London and transvestites in Clacton. It’s all in a Dragon’s day’s work.
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Tagged Dragons' Den Blog |
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Posted on August 26, 2011 by John Cronin
Owners of a business park in Lanarkshire have secured one of the largest out-of-town office lettings of recent years.
Bellshill-based HFD Group have secured an 80,000 sq ft letting with ScottishPower at their Hamilton International Park (HIP – pictured). The energy giant will bring an additional 1,000 staff to the business park, increasing their on-site headcount to 1,800.
HIP is a 116-acre site situated at Hamilton, 13 miles south east of Glasgow. The fully-developed business park will offer 650,000 sq ft of Grade A office accommodation within a range of modern office blocks. Serviced office suites from 200 sq ft are available within two buildings. Over the last couple of years HFD has targeted energy companies as preferred tenants for HIP and for offices at their Strathclyde Business Park. Other tenants include oil services company Wood Group and Spanish renewable energy company Gamesa.
HFD are investing a further £50m at HIP with the speculative development of a 223,000 sq ft carbon neutral campus. The campus is scheduled for completion by the end of the year.
The letting is larger than the recent deal secured with The Scottish Environment Protection Agency (SEPA) for 60,000 sq ft of floor space at the troubled Maxim office park. Commenting on the ScottishPower transaction, a spokesman for HFD said: “We think it is the largest out-of-town letting in the West of Scotland in the last seven or eight years.”
HFD has also enjoyed success this year with one of its more recent office renovation projects. The award-winning, 130,000 sq ft central Glasgow office scheme G1 is currently running at an occupancy rate of over 90%. HFD only completed the development in May 2010.
Rental prices have not been disclosed for the ScottishPower letting.
Posted in Lanarkshire |
Tagged Business Parks, Serviced Offices, Speculative Developments |
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