o:p> OUTLOOK June
2006
An
e-newsletter covering Industrial, Commercial & Retail Property, in North
Oxfordshire, North Gloucestershire, South Northants and South Warwickshire.
Published by BANKIER SLOAN CHARTERED SURVEYORS. REGIONAL PROPERTY HELP LINE: 01869 338866. Acquisitions:
Sales: Lettings: Planning: Lease Renewals: Rent Reviews: Rating:
Management.
Please "forward" to any friends or
colleagues you think may be interested and hopefully they will reply directly to
us saying "YES PLEASE" and we'll add them to our register. Our e-mail address is
reception@centre-p.co.uk
st1:place>Upper Heyford – Freehold for
Advertised for the first time in this issue of
Outlook we are pleased to confirm
that we have instructions to offer for sale an interesting commercial freehold,
with we believe potential for residential development on
Two
copies of OUTLOOK?
If you have just received two (or possibly more) copies of OUTLOOK by e-mail, we apologise. Please notify us by writing “Two Copies” in the Subject Box and we will delete the second e-mail address from our mailing list. Please e-mail reception@centre-p.co.uk.
Rent review evidence in
Brackley…I smiled
to myself earlier in the month when I received a call from an agent based in
Crawley, or was it Croydon…(it makes little difference) who said they were
involved on behalf of tenants with a rent review in High Street, Brackley. They had
appreciated that we were the closest Chartered Surveying practice in the area
that dealt exclusively with commercial property. The gentleman asked whether I
could be of any assistance, and in accordance with our usual practice I was
happy to try and help. Rapidly realizing I could be of no immediate assistance I
suggested maybe he should wait until the landlord’s agents made a proposal, and
then ask them for their evidence. He replied that a proposal had already been
made but the landlord’s agent had no evidence as he was based in
Fire
Insurance
A warning…I have recently been involved in assisting a
client whose property was partially burnt as a result of vandalism. The loss
adjusters have been very professional and have insured that appropriate payments
have been made as the work has progressed. It may be of interest however to many
readers that it was made very clear to me at an early stage that had the fire
destroyed the recent improvements (an excellent office within an industrial
unit) which had been constructed by previous tenants at a cost of approx’
£20,000, the insurance company would not have paid for the replacement. As they
had no record that such work had been carried out, they could not be responsible
for it’s insurance! The improvements had been left in place by the outgoing
tenants, with the approval and knowledge of the landlords, but as the landlords
had failed to notify the insurance company that this was the case, these
improvements were not covered…a situation which I am sure exists in many
properties around the country! Advise: Check with your insurance
company exactly what is covered.
Motorway Roadside Advertising
As many of you may have noticed in recent months there has been a decline in the amount of advertising now seen on the side of motorways. There was a court case late in 2005 where a farmer was fined substantially for breaching planning regulations. The basic case law relates to whether a vehicle is “usually mobile”. The court upheld the planning authority’s view that a trailer parked in a field was not “usually mobile”, unlike advertising on taxis or a bus both of which are "usually mobile". This has resulted in many planning authorities now pursuing farmers without giving them notice and there has as a result been a considerable reduction in the amount of such advertising. Need advise? Contact reception@centre-p.co.uk
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We like many surveying practices around the country have
constant requests for investments, at the present time however there are two
that particularly come to mind. We have one investor who is prepared to spend up
to £300,000 on freehold property on any of the industrial estates in Banbury,
with or without a tenant, and another who would like to spend up to £1.75
million, preferably in two lots and is prepared to accept a return of 7% plus.
We would be grateful to receive any details of such properties. Please notify
investments@centre-p.co.uk
Comments: We are always grateful to receive comments on
Outlook, comments@centre-p.co.uk.
If you welcome receiving this by e-mail we would appreciate it if you
‘Forward’ to a friend or colleague…they may also welcome a copy. Thank you in
advance.
Rugby
(Bilton)
Within the next three months we expect to have solved our
clients requirement for outside storage at Bilton and as a result we will be
placing on the market a site which already has outline residential planning
permission. If you wish information when it becomes available for this site
which could probably house eight to ten units please e-mail bilton@centre-p.co.uk.
Apologies
Apologies to those who have had to wait a month for the
rent review evidence on both Church Lane, Banbury and George Street, Oxford. The
former if you have not received it in the last twenty-four hours should be with
you in the next twenty-four hours, the latter is actually awaiting final
signature of the memorandum but this should be completed within the next month.
If you missed the May issue and are intrigued please write to zoneA@centre-p.co.uk
indicating your interest.
Rent
Reviews
We are surprised how many times when notified by new
clients of leases that are coming up for renewal that the renewal date is less
than six months in advance. We strongly recommend that if you have properties
with reviews you make contact with our Deddington office as early as possible in
the review process. If you need help please call Ian Sloan on 01869
338866.
Cricket
It will come as no surprise to most of you that the
beginning of the Premier Division of the South Northants Cricket League season,
which is sponsored by Bankier Sloan, has been disrupted by the weather…we are
however privileged and delighted to be once again sponsoring the league, a
sponsorship which started in 1998.
Available
Properties
We are constantly getting new instructions to sell and
offer on lease properties throughout the region. Full details of these premises
are available on request by e-mailing availableproperties@centre-p.co.uk.
We will attempt to find you a suitable property for your requirements. As some
information is best sent by post we would appreciate your full
address.
Edited by Ian Sloan FRICS 1st June
2006.
BANKIER
SLOAN, The longest established Chartered
Surveyors in the region dealing exclusively with Industrial, Commercial &
Retail Property. North Oxfordshire, North Gloucestershire,
South Northants and South Warwickshire. Deddington 01869 338866 Brackley 01280
700756 Moreton-in-Marsh 01608 652888
Coventry 02476 545556
If we have sent this to you by e-mail and you are NOT interested in receiving further issues approximately every four weeks then we are sorry to have troubled you. PLEASE reply and just write the words NO THANKS and your name will be taken off our e-mail list.