OUTLOOK May
2008
A
monthly e-newsletter covering Industrial, Commercial & Retail Property, in
North Oxfordshire,
North Gloucestershire, South Northants and South
Warwickshire.
Published by BANKIER SLOAN
CHARTERED SURVEYORS.
Acquisitions: Sales: Lettings: Lease
Renewals: Rent Reviews: Planning: Rating: Management
Regional Property
Helplines : 01869 338866 and
01608 652888
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
April saw the end of the
24th financial year for Bankier Sloan! It will come as a
surprise to none of our clients that this has been our busiest ever year,
with our highest ever turnover, up nearly 20% on 2006/2007. We have
worked hard this year to increase our market share, not only by marketing our
client's premises in traditional ways, but our Web-site is now we believe
the most 'hit' site dealing with Commmercial property across the region (see http://www.centre-p.co.uk/Google(1)-Banbury08.pdf , whilst our
Open Days in client's premises have helped us work more closely with both
existing and potential clients.
Over the years I
have also learnt that we get busy not only when the economy goes up, but
also when times get difficult. There is no-one I think in the current market who
believes the economy is going up! For some types of property, believe it or not,
prices are still rising, this is mainly at the bottom end. There are still
relatively few small industrial units across the region. For the run of the mill
properties however we have certainly seen less demand in the first four months
of 2008 than we did in the similar period of 2007.
We are also busier
because both landlords and tenants pay far more attention to the terms of their
existing leases when times are potentially getting difficult. Tenants
look carefully to see when rent reviews and break clauses are, and in the case
of landlords the same certainly applies, but we also actively
encourage investors to pay more attention to tenants' repair
obligations. As we say on our website..."we cannot always please all our clients
all of the time, but we will continue to be professional in our approach
and hopefully we provide constructive advice which will allow both landlords and
tenants to move forward and prosper in the years to come"
Commercial Property Energy Performance
Certificates
These have now become reality, but only at the present time
for properties over 10,000 square metres. From 6th July however they come in for
buildings of over 2,500 square metres, but then for the vast majority of
properties (over 50 square metres gross internal) they will be required from 1st
October....help!! However much we think they are a waste of time, these will be
required on the leasing or sale of any commercial property after this date. At this level it even effects the very
smallest of industrial workshops used for garage repairs, etc.
If you need help in obtaining one of
these reports, please do make contact.
We do not prepare these ourselves, but we know people who do! please
e-mail reception@centre-p.co.uk
. A thought...if you have a lease coming to an end in the few months after
1st October, may be it would be worth both parties talking in advance and
agreeing revised terms early, thus avoiding the need to comply!!
Restaurant - Central
Oxford
We have been instructed to market the leasehold interest
in an exceptionally fine basement restaurant in the centre of
Oxford. Full details available at http://www.centre-p.co.uk/Peninsula%20Restaurant,%20Oxford.pdf. There are over 8 years left on the
lease and we think this will prove to be of interest to a variety of people
either as an on-going restaurant or potentially with other uses in mind, such as
a night club or similar. This weekend we will advertise this in one
of the UK's leading Cantonese newspapers (in Cantonese of course!) so if
you wish to receive this for yourself or your Cantonese speaking clients,
please e-mail reception@centre-p.co.uk and just
write 'CANTONESE ADVERT' in the SUBJECT box and this will be sent by return. By
early next week it should also be on our web-site...we have just agreed not to
'post-it' until after publication on Saturday.
Lower Cherwell
Street
We have been
instructed by the new purchaser to offer this excellent workshop (the
former Central Tyres Depot), on a new five year lease at a rent of £25,000 per
annum. Located as it is very close to the Town Centre we have already
generated considerable interest. See http://www.centre-p.co.uk/Former%20Tyre%20Depot.pdf .
If you are interested we suggest an early viewing as we would hope to conclude a
deal within the next two to three weeks.
Available
Properties
For a complete list of
premises presently available just click http://www.centre-p.co.uk/availableproperties.htm.
We would like to highlight the 2,000 sq ft of new offices we have available at
an asking price of £12.00 per square foot. These surely represent the best
value offices in the region. Please do have a good look, we
are sure you will find something that will interest you.
A5 Rent Review - Banbury Town
Centre
We have recieved
instructions to negotiate for an existing tenant client, a rent review. The
landlords agents are suggesting an increase from £14,000 per annum to £20,000
per annum from May 2008. We would be pleased to receive any evidence of any
reviews in The Market Place in the last year. The landlords agents have quoted
reviews in 2004, 2005 and 2007 to substantiate the proposed increase, and I
would be pleased to receive any evidence of rent reviews/new leases
in either the High Street or The Market Place to assist me with my
negotiations. Please do let me know any information you have whether this
supports or otherwise my client's position. I would rather know now than have it
brought up in front of a third party!
Banbury - £1.25 Million . CHANGED INSTRUCTIONS (...ok we were wrong
!)
Opportunities like this come up very rarely, and we
are delighted to be promoting this investment opportunity for the second
time in OUTLOOK. For further
details please click http://www.centre-p.co.uk/Hillview%20Crescent,%20Banbury.pdf.
As you will see this is a single block of retail properties with flats above,
located in a residential part of Banbury. It is an excellent investment and full
details are obtainable by e-mailing our office...PLEASE PROVIDE YOUR FULL POSTAL
ADDRESS. Please do look at our weblink before asking for
details as this will give you an excellent idea of the company's
single property holding. IF BY THE TIME YOU READ THIS OUR WEB SITE HAS NOT BEEN
CHANGED (because our 'web-controller' is currently enjoying the delights of
Switzerland!) PLEASE NOTE WE ARE NOW SELLING THIS AS A PROPERTY ONLY...NOT AS A
TRADING PROPERTY COMPANY.
Power Park, Banbury
We are delighted to have
received instructions to offer three separate industrial units which have
recently been refurbished on lease at Power Park, adjacent to Banbury
Railway Station. This is
excellent accommodation and viewing is highly recommended. Full details
are available at http://www.centre-p.co.uk/Power%20Park,%20Banbury.pdf
Overfield, Thorpe Way
Industrial Estate, Banbury
We have instructions to
offer on a new lease Unit 4 which is in the middle of a terrace of excellent
industrial units built in the late 1980s (oh or was in the early
1990s!). It is a ground floor open workshop/warehouse of 1,940 sq ft,
with a small trade counter and adjacent office. Full details are available at http://www.centre-p.co.uk/Overfields.pdf
Cherwell District
Council
It came as a surprise to
me, and no doubt will come as a relief to many that Cherwell District
Council have finally decided to have just a single planning committee as
opposed to North and South committees which they have operated for many years.
See http://www.cherwell-dc.gov.uk/index.cfm?articleid=3214.
This new arrangement will bring about a fundamental change in the way the
committee assesses planning, and councillors from any ward will be able to have
their say on any planning issue whether or not they are officially on the
planning committee. This is a significant but welcome change.
Cricket
I organise a pub
cricket team. We plan to play about ten Wednesday evening games this
summer.....if you play in a company team, or council team or another
pub team and are looking for a game please let me know...we have a pitch, kit
and a team of about 17 players (oh, and before you ask...yes we all play, we
turned out once with 20 !) Please tel : Ian Sloan on 01869
338866 or e-mail me with the details.
Open Day -
Moreton-in-Marsh
STOP
PRESS: I'm expecting (hoping) to receive formal
instructions in the next 48 hours to market an office/workshop on Overthorpe
Road Industrial Estate in Banbury. Rent approx £30,000 pa, size approx 4,600 sq
ft. If interested please telephone 01869 338866.
Edited
by Ian B Sloan FRICS – 1st May 2008
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