OUTLOOK     March 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: Lease Renewals: Rent Reviews: Planning: 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

Open Storage - M1 Watford Gap Area

I am wondering whether anyone knows of up to an acre of hard standing which might be available to a company for outside storage. The ideal situation would be on a secluded farm where hopefully the land owners can keep half an eye on the product. There are going to be very few movements on a week to week basis. If you have anything or know of anything please e-mail reception@centre-p.co.uk. Don't forget I still have some fenced open storage/ haulage yards available at Aynho, from about £100/week.

Unusual Lease Clauses

I commented a year ago about a lease on a retail park in Oxfordshire where my clients had (and still have) a liability to provide the public toilets for an entire retail estate. Well here's another one. The clause reads "where ever possible to recruit labour through the Birmingham Industrial Selection Scheme for employment in the demised premises and in particular first to advise the said scheme of any vacancies occurring and only in the event of suitable operatives not being found within a reasonable time to recruit labour else where". For all 99 years of my clients lease?

The Code of practice for commercial leases in England and Wales : The code which is fully supported by the RICS and The Law Society is set out for all to read at http://www.commercialleasecodeew.co.uk/RICS%20Code%20of%20practice.pdf . Bankier Sloan continue to encourage the total disclosure of all relevant information during negotiations between parties prior to instructing solicitors…it's much simpler for all concerned.

 

Fire Safety Order 2005: New responsibilities for employers, property owners, and property managers?

As some of you may have seen these regulations which were due to come into effect on 1st April 2006 are now coming into effect on 1st October. The delay is presumably due to the fact that the vast majority of people have totally ignored the legislation to date and nobody is ready! This Act of Parliament is important to anyone, who not only owns a building or occupies it, but in accordance with the legislation, "the persons in control of the premises". I think this may well cover all managing agents. Unlike the Disability Act legislation which leaves individuals to take up cases, this legislation gives local fire officers both the responsibly and the duty to enforce the legislation and I think we can all be sure that they will take this responsibility very seriously. If you are interested in receiving a fairly simple guide to this legislation please e-mail firesafety@centre-p.co.uk. with your full postal address.

Property Insurance

I have come across another broker who thinks they have the right to charge whatever they like! My clients were about to pay £1,600 a year as an annual premium and then upon investigation have in the last week received two quotes, both from highly reputable insurance companies for identical cover at £850 and £920. The initial broker's response was "we were not asked to provide a competitive quote"…. I thought that’s what they had a responsibility to do!

Available Properties

We have produced a very basic list of premises currently available and are attaching this to the foot of this newsletter. It gives you I hope a fair idea of the diversity of the properties we are marketing. If you are currently seeking accommodation please write to availableproperty@centre-p.co.uk The property generating the most interest in the last week has been the 999 year leasehold investment of three retail units in the centre of Banbury. This was advertised in the Estates Gazette on Saturday 18th February and has so far produced over 120 enquiries … and a few offers! We are hoping to be instructed in the next fortnight to market, on new leases, some very fine rural offices close to Banbury. If you are currently seeking accommodation up to 5,000 sq ft please let us know and we will be happy to provide you with details when available.

Wanted: 8,000 sq ft. Although we are now talking to a couple of parties in relation to our client's requirement for 8,000 sq ft, we are still happy to consider all proposals. We wish approximately 5,000 sq ft of offices and 3,000 sq ft of warehouse and this accommodation must be available by the end of August 2006. Please write to reception@centre-p.co.uk if you have anything suitable.

Whilton Mill We were delighted to assist our clients in obtaining planning permission to convert redundant agricultural premises to B1 use at the Whilton Mill national karting circuit (immediately adjacent to the M1 near Daventry). For those involved in karting or any motor sport this may be a prime location, but the permission is not restricted to a use connected with either the National or the Corporate kart circuits at this location. Premises are available totalling 1,800 sq ft, 3,600 sq ft and 5,400 sq ft and should be available by late summer. Full details are available from reception@centre-p.co.uk . I feel I must praise Daventry District Council's planning department for their efficiency in dealing with a question that we raised on the permission. We wrote to them on 21st February and they responded to us, with a detailed answer, first class on February 22nd… thank you Daventry! (If you fancy a day out in early summer karting send an e-mail to karting@centre-p.co.uk . Cost approx £35/head….max 25 people. Any takers?)

 

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

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