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Superdrug took a 790 sq m (8,580 sq ft) unit, based on a 15 year lease at a rent of £187,000 per annum. Wilkinson’s new 2,675.6 sq m (28,800 sq ft) store – which is an additional anchor for the centre, along with Marks & Spencer, Boots and Bhs – has taken a 20 year lease at an average rent of £88.70 per sq m (£8.24 per sq ft).

With the inclusion of the British Land portfolio, IPD’s coverage of the listed Property Company sector will have reached over £11bn, with a further £2.7bn in unlisted companies. MEPC and Capital Shopping Centres – arc now members of IPD. Other major property companies which subscribe include Grantchester, Greycoat. Helical Bar and Wates City of London.

British Land’s decision, announced earlier today, represents the most significant single breakthrough in our three year programme aimed at recruiting all the major property companies to the IPD Portfolio Analysis Service. We now believe that we have achieved critical mass in our coverage of this sector and look forward to providing a service to the same exacting standard as that provided to institutional investors.

IPDs’ Portfolio Analysis Service, to which British Land has subscribed provides an accurate, consistent and comprehensive measure of returns on each portfolio in the database and ensures like for like comparisons with other ownership’s.Women in Property distinguishes itself by having a multi-discipline membership drawn from across the property industry including architecture, development, surveying, law, marketing, public sector and construction.

The organisation was set up ten years ago and is intended to bridge the gap between organisations acting for the various professional bodies and the more broadly-based women’s networks, Hundreds of events are organised each year by the nine regional branches of Women in Property, ranging from a national annual conference, cocktail parties, building and site tours, lectures on aspects of the property industry and networking events. Basically, as of this date, any strata property made out of more than 4 units will be obliged to have aproperty depreciation report.

On a national level, Women in Property has been approached by the British Council for Offices for participation in a joint project next year. Women in Property is also adopting an international perspective with a joint event planned for February with FIABCI on international tenants’ requirements.

He said: “The signs, including low inflation, an emerging economy and low unemployment, are uncannily similar. Market conditions are also ripe to kick start another boom, particularly in the Midlands, where the availability of freehold stock is currently very limited.

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The Healey & Baker Prize, awarded for highest marks in the General Practice division Martin D Tucker, a Property Management Assistant with The Elliot Partnership in Manchester. John S Cohen Prize for Valuation – Avinash Ramlagan, a Valuation Technician with the Ministry of Finance Valuation Office for the Govermnent of Mauritius. Frank Hodkinson Prize for Applied Building Studies – David R Matthews, a Sales and Lettings Negotiator with Castle Wildish in Hersham, Surrey.

Coatman Prize for Statutory Valuations – Paul J King, a Partner with Rogers & Hainbidge in Westgate-on-Sea, Kent. Elizabeth Rose Prize for Legal Procedures – Paul J King (as above) and Conal J Gridley, a Commercial Property Manager with Bben Development Co Ltd., in Ware, Hertfordshire. The Henry Butcher Prize for Professional Practice & Business Management – David R Matthews (as above).

The Antiques Trade Gazette Prize, awarded for highest marks in the Fine Arts & Chattels division – Adrian Byrne, an Associate Partner at Lacy Scott & Knight, in Bury St Edmonds, Suffolk. John S Cohen Prize for Valuation – Julie D Wallin, a Business & Commercial Manager with J W Wood Commercial in Darlington, Co Durham. Robert Clayton Prize for Commercial Building Structures – John W Morgan, Wayleave Officer with South Wales Electricity Plc, Cardiff.

ISVA Prize for Property Economics – Sheila L Aldred, a Property Administrator with TI Group plc in Abingdon, Oxon. The Leeland Prize for Valuation Principles – Scott W Caldwell, Wayleave Officer with South Wales Electricity Plc, Cardiff. The Hammond Suddards Prize awarded for the best use of language and presentation Mairéad T Nixon, a Management Surveyor with Jackson-Stops & Staff in London. ISVA Prize for attaining the best overall results in the BSc Real Estate (Valuation & Management) at the University of the West of England – Karen Tomkins.

Acting on behalf of Scottish Metropolitan, Ryden Property Consultants and Simpson & Co, are pleased to announce the letting of Unit 1a, 20/22 South Gyle Crescent to Parcel Force. The property comprises a modern well equipped industrial unit which has recently been refurbished by Scottish Metropolitan. Internally the property benefits from two storey office accommodation aswell as heating and lighting.

The property is located in close proximity to Edinburgh Park which is Edinburgh’s premier business park where occupiers include Royal Bank of Scotland, Bank of Scotland, Scottish Equitable, BT, Kingston to name only a few. is something which you will call all that much beneficial and of guaranteed estimation of the money exhausted on it at the time of procuring a home, not in the scarcest degree like the straggling scraps of the use you accomplish, which are to some degree disheartening than being helpful.

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South Gyle has also traditionally been a prestigious location for industrial occupiers because of the direct access on to the motorway network. Industrial occupiers on South Gyle include Scottish Brewers, Securicor, Bass plc, GEC Ferranti and Telewest. The ingoing tenants are Parcel Force who were represented throughout the transaction by Chesterton. The rental achieved was in the region of £5.25 per sq. ft. on the basis of a full repairing and insuring 10 year lease.

Nelson Bakewell’s final auction sale of 1997 raised £13.55m and reflected an overall success rate of 77%. This brings Nelson Bakewell Auctions’ total sales for the year to over £69m. The five sales held during the year saw 175 lots sold and achieved an average success rate of 92%. Auctioneer James Cannon commented: We are delighted with Nelson Bakewell Auctions’ first year performance. The fact that our overall success rate is the best in the general commercial property auction sector demonstrates the extent to which we have established ourselves in the market.

The auction room is constantly maturing as an efficient, popular and successful method of selling commercial property. Robert Noel, Director of Investment Sales at Nelson Bakewell commented: The results speak for themselves and thoroughly endorse the decision to launch Nelson Bakewell Auctions.

The results show that since 1990 there has been an increase in clothing shops, particularly designer fashion shops, versus a decline in services industry occupiers. This has occurred throughout Central London, but is particularly marked in Bond Street, where services now occupy only 4% of shops. Hillier Parker also found above average rental growth throughout the core areas.

Having said that, don’t be reluctant to use an online organization in case you can save a great deal of trade, in for money light of the way that it genuinely is possible to do property conveyancing adelaide conveyancers costs viably from wherever. The property had a guide price of £2m and sold in the room for £2.51 m. Bidders included a number of well-known residential developers. A prestigious long leasehold residential mansion block just off Oxford Street with a valuable reversion in 2050.

Mark Simmonds, Partner and Head of West End Retail at Hillier Parker, comments: Since completing this research rental levels have moved upwards particularly on Oxford Street and Regent Street. We are currently aware of deals in hand which when complete will show rents have increased substantially – over £400 Zone A, both east and west of Oxford Circus. Covent Garden has also risen remarkably and now match Oxford Street.

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Rents are being pushed up through high demand for large units in prime pitches. Vacancy rates are between 2%-3.5%, the lowest since 1982, but are in fact virtually nil as those shops which are vacant are waiting for occupancy, being redeveloped or redesigned. Using experienced and significantly capable master will be the best choice for property Conveyancing. A new “H2O Radio” system will allow Water Works employees to read meters inside homes from vans outside, which will be equipped with a laptop unit that picks up a low-powered radio signal emitted from the new meters.

As a result of these rent increases retailers are willing to locate just off prime pitch and the main Central London retail thoroughfares are expanding outwards into adjacent streets to accommodate demand.

 

The problem arises when rent reviews become due and weaker retailers find they are not able to support the buoyant rents now being achieved. Space is then likely to be freed up which in turn will soak up the latent demand. The survey shows a switch from services to fashion oriented stores which is being driven by an occupier’s ability to pay the higher rents and maximise returns.

There was a noticeable fall in the number of banks in all five areas, but particularly in Oxford Street where many have been replaced by fast food outlets. Oxford Street remains the major mass market shopping street and, with 293 separate shop facias and 12 major stores, is unparalleled anywhere else in Europe or North America. Its closest rival is Ginza in Toyko.

Ryden continue to see significant competition amongst retailers wishing to gain representation in Edinburgh City Centre. Quality fashion retailers such as Hobbs, Jigsaw, Jackpot and Cottonfield and Karen Millen who having found it difficult to secure representation in Princes Street have taken units in George Street in the last few months.

Ryden acting on behalf of Royal & Sun Alliance has recently negotiated a new lease to French Connection Group PLC of its former insurance office at 68/70 George Street, Edinburgh. were subsequently instructed to act as joint agents with Ashley Phillips in the disposal of French Connection’s existing premises at 45A Hanover Street, Edinburgh.

The premises are held on lease on a full repairing and insuring lease until 28 May 2009 at a rent of £63,550 per annum. Fashion retailers Alexon have taken an assignation of French Connection’s lease in return for a significant premium. The change in retail emphasis in George Street has caused a number of landlords to reappraise the retail potential of their buildings and a number of new retail opportunities are coming forward in the New Year.

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The Seaham and Vane Tempest sites will be developed to provide a mix of housing land and ‘green’ space. The consultants for both sites, W A Fairhurst and Partners and W S Atkins Northern respectively, are assessing the full extent of work needed to make the land suitable for residential development. In the case of Vane Tempest, the consultants are also designing the basic infrastructure for parcels of housing land to be sold once outline planning permission has been obtained. Other than this whole veritable and complex structure is performed by expert conveyancers who are other than called as settlement force.

Weighing in at 200 acres, the former cokeworks sites at Hawthom is the biggest and most contaminated of the ten sites, and is likely to be the most expensive and lengthy to treat. Specialist consultants Entec have been appointed to determine the most cost-effective and practical option of reclaiming the site for the benefit of the whole East Durham area. In the long-term the site could be developed for industrial use, but in the short-term it is likely to become public open space for the enjoyment of residents and visitors alike.

English Partnerships’ aim is to provide sustainable solutions, not quick-fixes. Nowhere is this demonstrated more clearly than in our handling of the coalfield sites. The range and extent of the problems faced by the coalfield communities are immense, and there is no simple answer.

We have been working closely with our partners in the public and private sectors to determine the most beneficial uses for the sites we have inherited, and have prepared a £70 million ten year action plan. Good progress is being made on a number of sites including the Enterprise Zone sites at Dawdon and Foxcover where English Partnerships is already investing £7.25 million. The appointment of consultants for the development of Seaham, Vane Tempest and Hawthom is a further important step on the road to the area’s recovery.

This is very good news for the area. Hawthom is a most strategic and important site for the regeneration and attraction of industry into Easington, and will serve both Easington and the surrounding areas. English Partnerships is to be complimented on its investment in the area, and I look forward to further investments in order to have this site developed as speedily as possible.

Princess Square has a current rental of some £2.6m per annum which is due to rise substantially as a result of Allied London’s recent refurbishment, new lettings and rent reviews. The scheme is predominantly let to major national multiple tenants including J Sainsbury, Burtons, Boots, Superdrug, Dorothy Perkins, W H Smith and Dixons. The Centre links into Bentalls, the town’s principal department store.

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Nonetheless, you have the best option in this view as you pick one of the prepared lawful specialists who are equipped for managing property conveyancing in decisively the same route as you need. James Folkes, Director of Folkes Properties, said: We are highly delighted to have concluded a deal on this unit so quickly. We took the decision to improve the specification even further by including access flooring and comfort cooling in the offices and it has paid off.

We have now completed our development of 21,367 sq m (230,000 sq ft) and with just two units remaining of 2,332 sq m (25,000 sq ft) and 1,393 sq m (15,000 sq ft), Britannia Park must be considered the most successful speculative scheme in the Black Country and Birmingham areas, particularly as we can boast such names as Scottish and Newcastle Group plc, Eagle Star Insurance, Loctite and Allied Bakeries.

any ‘permanent’ diminution in value adversely affecting the profit and loss account, whereas any uplift affects the balance sheet only; the inability to include in the balance sheet, revaluation of property held for trading; On the second point he stated: “It seems inappropriate that we still use an accounting convention in which any so called ‘permanent’ diminution in capital value adversely affects the profit and loss account as well as being recorded in the balance sheet, whereas any. uplift in value affects the balance sheet only. There would seem to be merit in introducing a twoway street.

As a result of goodwill not being capitalised, Mr. Grant said: A property company buying, for example, a surveying practice suffers an immediate reduction in its net asset value per share. There is, 1 understand, a new proposal being considered by the Accounting Standards Board whereby goodwill will be required to be capitalised. However, this will be tied to a depreciation factor at a time when the value of goodwill may, in fact, be rising. Because of the net asset value per share criterion, quoted property companies would be placed at a considerable disadvantage.

The Link Stores Ltd, trading as The Link, has taken a new lease at £50,000 per annum, with the first three months rent free. The new shop, which is the company’s 1 20th outlet, is located opposite Marks & Spencer, Body Shop and Etam and is currently shop fitting with opening anticipated in time for Christmas trade (1997).

This latest deal, agreed at Swan Walk, follows hot on the heels of the recent lettings to Superdrug and Wilkinsons, which began trading on 24 October 1997 and 31 October 1997 respectively, and are reporting excellent trade.

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The two parties have set up this joint venture with the sole purpose of pursuing the management and development opportunities arising from the joint ownership. Allied London will provide the day to day management. Allied London intend to reinvest the, funds in new retail and properties and currently have a number of acquisitions under negotiation that fit their criteria.

William Hill, Managing Director of Schroder Properties Limited and Fund Manger of SEPUT, stated “We share Allied London’s exciting vision for Bracknell. You can likewise find as much data about the firm as you need on their site, so you outdo both planets! Here we’ve set out the conveyancing procedure from the perspective of the merchant.

The town has grown into a major Thames valley centre in every way other than in its centre where it has remained in a New town timewarp. We are pleased to back Allied London who we consider have the ability and commitment to vision into reality. Commenting on the transaction, Michael Ingall Group Property Director of Allied London, said, We have always maintained that Princess Square is an excellent investment with the added bonus of substantial development potential.

Schroders involvement is a big vote of confidence in our proposals for Bracknell which have already been greeted with enormous enthusiasm from local residents, retailers and other Bracknell landowners. He continued Today’s deal is a clear signal of our intention to proceed fully with the Bracknell development and now together with SEPUT, one of the UK’s leading and most active property funds, we have the joint resources and expertise to bring the project to a successful conclusion.

Contractors Styles & Wood have been appointed by the centre’s Administrative Receivers, Price- Waterhouse, to undertake the £2 mil. refurbishment work which is being overseen by Richard Ellis, which also act as managing and letting agents for the centre. Manchester’s Royal Exchange Shopping Centre, extensively damaged by the terrorist bombing in June 1996, is being refurbished and is planned for re-opening next Easter.

The joint Administrative Receiver and Richard Ellis are aiming for the refurbishment contract to be completed in time to allow the tenants to refit in time to re-commence trading in the centre by Easter after almost two years trading from temporary accommodation.

John Lea, a director of Richard Ellis in the North West, said. A comprehensive refurbishment of ceilings, floors, and all services including escalators is being undertaken and this part of the programme will be completed early in the New Year.

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In the last five years many of the larger investment houses reduced their property portfolios in favour of more liquid investments, such as equities. But this week’s events may make them think again. Mr. Maxim said: “Property may be less glamorous, but the risks are certainly lower. It can offer greater stability.

In the last three months Mr. Maxim claims that Lambert Smith Hampton has agreed more property sales than in any single quarter since the market was last at its height. Many investment houses will re-think their strategy in the light of recent events, and hopefully property investments will move up their shopping lists. The St Mary Street area, built in the last century, was extensively re-developed in the ’60s and ’70s, and now suffers from widespread dereliction and deprivation as a result of a serious decline in commercial trade which had been the area’s mainstay.

The study, also part-funded by the Southampton Regeneration Partnership, will investigate how existing land uses within the St Mary’s area – including transport and infrastructure provision, environmental factors, ground conditions and the needs of the community at large – can be combined with potential new development to create a strong and vibrant community. Rachel Green, English Partnerships’ Development Manager for the South East, commented: This study will pave the way forward for quality development within a deprived area of Southampton and is an excellent example of the type of project that meets our criteria for support under the ‘Making Mixed Use Happen’ initiative.

The park’s renaming salutes Cappel’s devotion as a player, manager, umpire and groundskeeper over 62 years. We urge investors to contact a Quantity Surveyor to acquire exhortation on potential reasoning . The consultants appointed are Gerald Eve, in association with Urban Initiatives and Campbell Reith Hill. remain available are attracting strong interest from occupiers, and a further fall in supply is likely by the end of the year. The market is, and will remain, undersupplied with prime product.

Hillier Parker comment that while development completions during 1997 and 1998 will exceed levels seen during the last four years, demand for large buildings is much higher than in the recent past. This is particularly true in the City where an increasing number of schemes are attracting occupier interest prior to completion and this will continue to restrict the level of new supply reaching the market over the next 15 months.

Total take-up during the third quarter is 15% lower than the previous quarter but still one of the highest quarterly figures in recent years. In the West End half of total take up was secondhand space in units of less than 1,000 m².