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Such is its strength that industrial property achieved an 11% rental growth in 1997 outperforming the IPD All Industrial sector by 4.7%. Future growth is promising with more than 1.5 million sq ft of space due to be built in the next two years and only 18 months supply on 19997 take-up rates. However, the M40 corridor is also emerging as an additional location to the M3/M4 Corridor for High-tech office occupiers.

Oxford’s office economy has recently gained momentum by the attraction of a number of expanding international and indigenous high-tech companies that have located on one of the city’s business parks.  As the movement includes so much documentation and paper work best conveyancing brisbane it is constantly sensible to stick to a specialist. During the early 1990s, growth was fuelled by demand from the manufacturing sector, much of it concentrated within the Midlands.

In 1997 it attracted Rand Information Systems, Dr Solomons Software and Bookham Technology. High -tech computer occupiers accounted for 55% (220,400 sq ft) of area total office take-up (400,792 sq ft). As the market is comparatively a new one – the M40 only opened in 1991 – the corridor acts more as a distinct series of stand alone centres rather than a network of complimentary markets, such as the M3/M4 Corridors.

Almost half the high bay warehouse space scheduled to open in 1998 is dedicated to the distribution of retail goods, according to the latest research from international property Consultants Hillier Parker.The level of retail distribution activity has been rising gradually over the past two years. In 1997 the high bay warehouse market experienced significant growth, as total operational stock continues to expand at over 20% per annum.

Guy Frampton, Partner and head of the Industrial Team at Hillier Parker, comments: The specialist nature of a high bay warehouse has deterred speculative development in all but a few instances over the last four years. Occupiers continue to seek pre-lets, or indeed the flexibility offered by the purchase of land.

With latest techniques enabling construction in less than 20 weeks, this is a more attractive option than in other property sectors. With almost 70% of occupier acquisitions in 1997 taking the form of a land sale, opportunities for sale and leasebacks are numerous. For example, during the last eighteen months Booker plc have purchased two sites at Hatfield Business Park and Swan Valley, Northampton on which they built units of more than 30,000 m² (323,000 sq ft).

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The demolition of a terrace of derelict buildings will make way for the new development within the London Borough of Hackney on the south side of Dalston Lane. The buildings are owned by Peabody Trust who will also be developing the scheme. English Partnerships’ investment will go towards the demolition and removal of poor quality accommodation with inadequate facilities.

This will require numerous parts of south australia conveyancers adelaide that would not so much be required under consistent circumstances, including a surveyor’s report and area registry documentation. Dependant on circumstances, this could take up to and surpassing six weeks to appropriately gets ready. The new building will be made up of 18 two-bedroom and 6 one-bedroom flats for market renting and 738 sq m of retail/commercial space.

 The site is one of seven within the London Borough of Hackney to be developed by Peabody Trust under the Hackney Now initiative.Effects of this scheme will be particularly significant when combined with a programme of environmental improvements and further developments being progressed by Dalston City Partnership on the northern side of Dalston Lane.

Peabody Trust hopes to attract ‘key workers’ to the area to extend regeneration by diversifying the tenant mix. The area has been developed in consultation with the local planning authority, and compliments and enhances the local Victorian architecture. Anthony Sowden, Senior Development Manager at English Partnerships commented: This project will make a significant impact in improving the quality of the environment and will also act as a catalyst for further development within the area.

M40 Industrial/manufacturing property rental growth outperformed the national index last year according to inaugural research by international property consultant FPDSavills. With almost 25% of the working population of Oxfordshire, Bedfordshire and Warwickshire employed within the manufacturing and primary sectors it is not surprising that the industrial sector is seen as the main driver of the M40 property market.

I am delighted that English Partnerships’ investment has enabled this scheme to proceed, demonstrating our commitment to land regeneration projects. We believe it will help to unlock Dalston’s regeneration potential, not just through the bricks and mortar of high quality homes, but also by generating jobs and creating space for local businesses to grow.

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Hartnell Taylor Cook acted for Trekkit, Lunson Mitchenall advised Bodycare and Sovereign Housing Association acted on its own behalf. CT Bowring has secured £2.5 million on the sale of a redundant office building in the City with no planning permission to a residential developer. St John’s House totalling 1,912 sq m (20,580 sq ft) is surplus to requirements and was sold to residential developer Southern Properties in an off-market deal.

Leading Aberdeen Chartered Surveyors, F.G. Burnett marketed the property on behalf of the landlord, Air Products, assigning a 3 year lease at an annual rental of £23,000.We believe this short helper illuminating the technique of conveyancing services stage by stage helps you to move house as quick and as effectively as could be permitted.
Air Products PLC, international suppliers of industrial gases for use onshore and offshore, has leased 3,000 sq. ft. of office suite to oilfield service company.

FPDSavills director James Crawford, who advised CT Bowring, said: The deal is indicative of the market whereby residential developers have out-bid commercial developers for sites and buildings in the City which could be converted to residential use. However, residential developers could find that the reverse is true in the future as commercial values are exceeding current values for residential except the most difficult of buildings.

The latest London Residential Survey by FPDSavills Research reported activity levels in the City and Midtown rose dramatically in 1997 with the number of residential developments with units available increasing by 84% on the same period in 1996. The report goes on to state that 74% of new residential developments in the City and Midtown area are on sites of former office use. In addition, almost 70% of the 83 office-to-residential conversions, which have either planning consent or for which planning is sought, are in the same area – nearly a third of these can be found in E1 and Clerkenwell.

Air Products has recently undergone a consolidation of its services at Westhill Industrial Estate, Aberdeen, and this office suite became surplus to requirements. Established in 1969, Schlumberger Dowell currently employs in excess of 400 staff in Aberdeen. Worldwide operations are conducted from 180 service centres and more than 100 field laboratories.

Tom Lochhead, Facilities Manager, Schlumberger Dowell, commented: The move into this office space is part of an on-going expansion scheme which will enable us to continue to provide the highest possible level of service to our clients. English Partnerships – the government’s regeneration agency – is investing £495,000 in the construction of a new building regeneration scheme providing flats and commercial units.

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Computer chips (known as embedded systems) control a wide range of plant and equipment, ranging from lifts and door locks to smoke alarms, emergency lighting and fire precaution systems. Clearly, failure of these systems could disable the building and cause significant business interrupfion. Failures due to the Millennium Bug will not be covered by insurers since the problem is neither fortuitous nor is it unforeseeable.

The recent announcement by the Health and Safety Executive that it will launch a consultation on the banning of the use of white asbestos in buildings is a ‘red herring’ according to health and safety experts at law firm Nabarro Nathanson. It takes years of study, industrious work and experience for a solitary individual to transform into a productive or a conveyancing expert.  Crucially for property owners and managers, a recent record showing the location of the asbestos (and any material presumed to be asbestos) would have to be maintained, and the condition of the asbestos/presumed asbestos monitored.

A 64.5% interest in SDPH, a company which owns 125 shop units totalling 36,000 m² of retail space in a shopping, centre, Place des Halles, Strasbourg. Retailers in the centre, which was built in 1979 and renovated in 1991, include BHV, C&A, Galleries Gourmandes, Zara and GoSport. A 100% interest in SCI Val Commerces, a company which owns 46 shop units totalling 8,600 m² of retail space in a shopping centre near Geneva, ‘Shoppinc, Etrembières’.

The centre,which was built in 1994, is anchored by a Migros hypermarket and retailers include Celio, GoSport and MeDonalds. A 100% interest in IGIF, a shopping centre management company which currently manages both centres and provides services to other co-owners. The above interests were acquired from Intershop with the exception of a 50% interest in SCI Val Commerces, which was acquired from Interbail.Both centres are virtually fully let and, particularly in Place des Halles, there is good reversionary potential.

These acquisitions, which bring, the total value of Hammerson’s investments in France to nearly FF4 billion (£400 million), will bring us economies of scale within our French operation and increasing influence in the French retail property market.Parity Training Ltd, the IT services company, has agreed a rent of 167.00 per sq m (15.50 per sq ft) for an air-conditioned building, extending to 778 sq m (8,372 sq ft) on a 15 year lease.

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Matthew joined Haslams some four years ago and is now deputy head of the firm’s Building Surveying and Design Division. The Thameside village of Wargrave, situated off the A4 between Reading and Maidenhead has seen a letting, namely 55 High Street, Wargrave. This is a lock-up shop which has been successfully disposed of by Reading agents, Chilvers Page, who acted on behalf of a private investor.

The new occupants, Thompson and Thompson, award winning photographers, have taken a six year tenn at a commencing rental of £5,100 per annum. Shops rarely come to the market in Wargrave, and this particular unit comprises part of an attractive historic building which has been split on the ground floor into two units, the other being the sub Post Office. It extends to 373 sq ft/34.6 sq m behind a frontage of 13 ft 2 ins/4 metres.

These systems are likely, by the end of 1998, to encounter periods which include dates in or after 2000.

Jim Attewell, a former equity partner with Scothbrooks and local Director with Prudential Estate Agents, has joined as an advisor to Haslams’s expanding New Homes and Land Division. He is joining a growing team as our involvement in development land generally and new homes in particular is an increasingly important part of the firm’s fee earning activitiy. Tenants want guarantees that their buildings are not going to go haywire around them whilst landlords are understandably not going to want to commit themselves to a potentially open-ended liability.

Failure of such systems would undermine the ability of those systems to process demands or to keep track of arrears.  The term conveyancing may additionally be utilized to allude to the development of mass wares or items like sewage, power or gas. Systems which are not Year 2000 compliant may well fail, or function erratically, if it assumes that the year 00 is earlier than the 99.

It should be possible to agree a common set of conditions and undertakings that both landlords and tenants can live with regarding the Year 2000 problem. This is one of those occasions when all the good words spoken about ‘partnership’ in the property world are put to the real acid test. A failure to find common ground will not only be a real shame but could also result in years of mistrust and hostility at the beginning of the new millennium.

According to the firm it is likely that Millennium Bug problems will first show themselves in management systems which control the issuing of rent and service charge demands and payments, or which monitor planned maintenance cycles.In a different consultation on asbestos which was extended to the end of July, the Health and Safety.

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In each case they completed a sale and leaseback with Hermes within six months of their initial purchase.  The biggest single contributing factor is the increased number of cheapest conveyancing melbourne who are in the market place. However, Hillier Parker comment that difficulties still exist in structuring a sale and leaseback deal that satisfies the financial and business needs of both parties. Institutions have increased their exposure to the high bay sector, with total investment holdings rising by 20% over the last six months.

In the 12 months to February 1998, industrial land values rose by an average of 5% across the UK, the majority of this growth occurring in the final three months. Much of this growth was concentrated in the Midlands, where land values rose from an average of £690 per ha (£280 per acre) in February 1997 to £800 per ha (£323 per acre) in February 1998, an increase of over 15%. Rents remain highest in the South East, where values rose by an average of 4% across the region to £67.50 per m² (£6.30 per sq ft) Overall investment performance in the high bay sector will remain governed by rental growth.

This is expected to be highest in the South East, in part due to restricted land supply and competition from other land uses. Although the strength of sterling is causing concern for industrial exporters, the majority of high bay occupiers operate within the domestic market which has seen a rise in demand over the past twelve months. Rental growth, which is expected to continue over the next six months, is therefore unlikely to be significantly hampered by current exchange rates, said Deborah Savin, Business Space Analyst at Hillier Parker.At the same time Haslams’s Matthew Ward BSc ARICS has been appointed a Salaried Partner. Matthew (34) is a Chartered Building Surveyor specialising in construction disputes and survey work.

Andrew Pilbrow BSc ARICS IRRV has been promoted to an Associate Partner at Reading based Chartered Surveyors Hasiams. He was formally with the Valuation Office and joined Hasiams some two years ago. His expertise in the area of rating valuation has strengthened considerably our firm’s expertise in the is area and his appointment represents another step towards expanding the practice so that we can provide our clients with a truly comprehensive advice service.

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We needed to make a long term commitment to compliment our five existing operations located throughout the United Kingdom and Ireland said Isotron’s Managing Director, John Barker. Capitol Park proved to be an ideal choice with its high quality buildings, infrastructure and close proximity to the national motorway network. Conveyancing is the process of transferring property’s legal title from one person to another.

Isotron Plc is a highly successful company fully listed on the stock exchange with over 20 years experience in the medical industry. Sterling Capitol’s Chief Executive, Martin Croxen, welcomed the Isotron deal and confirmed that his company, encouraged by current enquiries at Phase 2 Alpha Court (20,000 sq ft), have launched a further Phase 3 with units from 50,000 sq ft available for occupation in June this year. Joint letting agents for Capitol Park are Knight Frank and Eddisons who already report strong interest from potential occupiers seeking pre-letting packages on the next phase of the development. Knight Frank partner, Mike Dove comments: We expect to be announcing further good news on the occupier front very shortly.

Knight Frank partner, Mike Dove comments: We expect to be announcing further good news on the occupier front very shortly.  The amount of money spent on City property investments outstript West End property investments for the second quarter running according to the latest investment figures from FPDSavills. Director James Crawford said: With the return of commercial development to the City and an increase in the number funding opportunities.   Overseas investors, continued Crawford, particularly private middle eastern buyers look set to remain strong purchasers throughout the forthcoming year having already spent in excess of £80m this year. A noticeable trend in the City is the substantial reduction in the number of buildings being sold to residential developers, even in fringe locations, as commercial values once again outstrip those of residential.

Associate Paul Coburn of the West End office, said: Lower than average turnover has been a feature of the first quarter for the last 3 years having averaged between 15% and 19% of annual turnover. We do not consider this fall reflects a downturn in market sentiment and expect turnover in 1998 to record over £2 billion for the third consecutive year.

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Substantial funds are available for retail warehousing for the remaining quarter of 1998, however, investors are now more discerning in their stock selection, particularly regarding secondary investments which have tended to be overpriced during the last 12 months.

You will not have forgotten the road building programme envisaged by the 1989 White Paper on transport, with what seems now the rather amusing title of Roads for Prosperity. Paragraph 15 of this White Paper identifies some of the numbers currently outwith the integrated budget. What we are likely to see over the next few years is, instead, a series of measures designed to make travel by car more difficult and more expensive. The White Paper also signals changes to administrative structures, policy guidance and forward planning initiatives.

Conveyancing is the word referred to the number of processes that are required for completing the transfer of ownership from the seller to the buyer. Specifically, the production of local transport plans by local authorities with stretched resources.Work has started at Brookfield Park, Manvers within the Dearne Valley Enterprise Zone on a major industrial/distribution park.

Cannock Developments Limited are constructing the first speculative buildings on the Enterprise Zone with English Partnerships. The buildings will provide 8,091 sq m (87,090 sq ft) and 4,190 sq m (45,103 sq ft) and will be available for summer 1998. The scheme was funded by way of an enterprise Zone syndicate arranged by Matrix Securities. English Partnerships have provided a rental guarantee, the first of its kind, in addition to that provided by the developer. Joint letting agents Knight Frank (Sheffield office) and Henry Butcher & Co (Leeds office) are already reporting a high level of interest in the development. Leeds-based developers, Sterling Capitol are delighted to announce the sale of Phase 1, Alpha Court, at Junction 6 of the M18 in South Yorkshire in a package in excess of £1. 2 million.

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Bristol Parkway North Ltd co-operated extensively with Parity to enable its fitting out works to be incorporated within the main construction programme in order that full occupation may be achieved by 1 September 1998. In addition, M&W Pearce Limited has also taken a 15 year lease at a rent of £156 per sq m (£14.50 per sq ft) for a non air-conditioned building, which extends to 591 sq m (6,364 sq ft).

This should further enhance the amenity provision at Bristol Parkway North, which currently includes a Jigsaw nursery and Esporta sports centre. Negotiations are also progressing with a public house operator on a nearby 0.5 ha (1.25 acre) site. A conveyancing specialist will perform an exhaustive examination of your property and property. The trust acquired the building vacant trom the Receivers to Sheraton Securities in 1995 and let the offices to US insurance brokers Reliance National and the basement wine bar to The Old Monk Company during 1996 at rents totalling £645,000 per annum (£27 per sq ft).

Hanover Property Unit Trust has sold the freehold office and retail investment at 80 Leadenhall Street to GUD Pension Trust for a price in the region of £10.75 million showing a net initial yield of circa 5.75%. BH2 and PRICOA Property Investment Management acted for Hanover, while Savills Fund Management acted for GUD Pension Trust. Only about half of the £2bn property investment allocation for the retail warehouse sector is likely to be spent this year according to FPD Savills latest Retail warehousing Quarterly report.

At the beginning of this year a telephone survey of institutions and property companies reveled that in excess of £2bn had been allocated for investment in this sector, to date only around £650 million has been spent. With a limited number of existing retail parks, claims the report, and few new sites filtering through, it is hard to believe that even half of the allocation will be spent. The second quarter of 1998 has been characterised by relatively few, large transactions. These include: Equitable Life’s purchase of Wessex Gate Retail Park, near Poole in Dorset for £30 million; British Land’s acquisition of Westgate Retail Park, Wakefield for more than £34 million; and the purchase of Fosse Park and Fosse Park South in Leicestershire by Pillar, Schroders and Caisse de Depot in a combined deal totaling £205 million.In relation to alternative means of transport, it states that another option would be to impose higher taxes on road users generally to reduce demand.

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The transaction was completed on 23 March, thus stamp duty was paid at the old rate of 2%.The estate was the last UK Ring Fenced property in the Orb Portfolio and was held as trading stock in the Orb Group balance sheets.  Lambert Smith Hampton and Knight Frank acted and Lambert Smith Hampton will be retained by Henderson to manage the estate, which has active management potential.

Number 15 is to be redeveloped behind the existing facade and will provide approximately 1,070m² (11,500 sq ft) of predominantly new, high specification space.

James Lambert Development Executive at Benchmark said, We are keen to create two distinctly different buildings to appeal to the widest possible occupier base. No 16 will provide a mixture of period and modern space, ideal for International Headquarters whereas No 15, which has the rare distinction of being freehold within the Grosvenor Estate, will provide modern state of the art office space .The store was previously owned and occupied by Littlewoods.

The unit has been taken on a new 15 year lease at a rental rate of £142,000 per annum. Clarks’ new Fareham branch is one of the first in the UK to receive the retailers new generation interior design – complete with natural oak fittings, glass shelving and accent lighting – created for the retailer by international creative consultants Caulder Moore.

Clarks, the shoe retailer, has more than doubled the size of its store at the Fareham Shopping Centre following a relocation of a 399 sq m (4,295 sq ft) unit in a prominent corner pitch in the centre’s Delme Square. Prudential has completed its purchase of the freehold and long leasehold interests in 197/213 Oxford Street, east of Oxford Circus, for a price of £69.5 million.

In addition to a total decorative and image revamp for the centre, the refurbishment is creating a number of new opportunities for retailers including three new café/restaurant areas, two new food kiosks and a number of MSU units. In October, the 6th U.S. Settlement conveyancing is the legal process for properties when you are going to buy or sell it.Clarks relocation has been made possible by a £15 million refurbishment currently being implemented at the 46,450 sq m (500,000 sq ft) centre by The Fareham Retail Partnership, the consortium comprising Ashcroft Estates, Lend Lease and Hanover Property Unit Trust which purchased the scheme last year (1997). Littlewoods having vacated the store, reconfigured the space and achieved lettings to Next, Superdrug and Books Etc. Next are already trading, while Superdrug and Books Etc are expected to commence trading in May 1998.