Estate New
Agency News January 2012
Disposals: We have recently disposed of 3 Hewden premises:-
Sunderland: this was held via a long lease from the Council and had lain vacant for some time, hence a good result for the client
Astley: This has road prominence and the benefit of a large adjoining yard and was previously used by Hewden to store their accommodation (mobile offices) and large plant/equipment
Basildon: This property had been vacant for some time. We negotiated a surrender deal directly with the landlord who has therefore taken the property back from Hewden
Estate News October 2011
We think it’s important in the current market for tenants to exploit any advantages conferred upon them, either at Rent Review, Lease Renewal or at a Lease Break. With this in mind, acting on behalf of Robert Half we have re-negotiated terms at impending lease breaks in Swindon and Liverpool, whereby the landlords have granted a combination of Rentfree incentives and agreed to document a Rent Reviews at a nil increase.
We have agreed terms allowing Hermes Parcelnet to occupy part of Hewden’s depot at Appleton Thorne for parking HGV trailers: this makes beneficial use of yardspeace that had lain vacant for some considerable time.
We have settled an outstanding Rent Review at a nil increase at Hewden’s empty (former Head) office in Tannochside.
We have disposed of a former Hewden property on Penn Street, Newcastle Upon Tyne that had lain vacant for a number of years.
Estate News Summer 2011
Recent projects have included the re-gearing of the lease at Robert Half’s offices in Edinburgh, after initially exercising the lease break on their behalf: the deal entailed receiving rent-free and a break option on behalf of Robert Half who are the tenants.
On behalf of retained clients Condie Investments Ltd, lease renewals on a car sales and service facility in Widnes has been agreed and a lease renewal agreed for a property let to “Speedy Hire” in Ayr. The Fairhurst Team have also recently sold a Condie property in Rugby. It was sold for £210,000 to the tenant who is a private buyer.
Acting on behalf of Praia Investments LLP, Fairhurst Estates sold the freehold interest of a property on Nipe Lane Skelmersdale for a figure of £275,000 to a private buyer.
Estate News Spring 2011
The agency team have continued to actively seek roadside premises on a nationwide basis for tyre and exhaust operators, van hire companies and plant hire operators.
The Estates team have recently completed the sale of premises in Leyland owned by Northgate. A packaging company, ABC Ltd have purchased the property. Acting on behalf of retained clients Condie Investments Ltd a property in Stanford has been sold for £240,000 to a micro brewery.
Estate News February 2011
Acting on behalf of retained client CIL, the team have just completed the sale of a freehold roadside site at Stanhope St, Goole. It was formally occupied by North Eastern Tyres who vacated and surrended their lease. The new purchaser, Wayne Moxon will be using the premises as a Tyre and exhaust Dept and is looking to expand his portfolio. He is currently viewing other roadside opportunities.
The agency team are actively seeking roadside premises on a nationwide basis for tyre and exhaust operators, van hire companies and plant hire operators.
A surrender deal has just been agreed with a former tenant of retained client Condie Investments at Bumpers lane, Chester. A provisional deal in already in place to re let the property.
Estate News December 2010
The team have been working hard over the last few weeks to initiate searches for Hewden relocations which will involve finding new sites and disposing of old ones. More detailed information will follow and the properties will shortly appear on our brand new property search which is currently under construction.The Fairhurst Estates team are overseeing the entire Hewden acquisition programme which includes additional locations in the South of England.
National Tyre Service acquisitions – FEL are currently waiting for approval on 11 locations which they have recommended to their retained client NTS.
Estates News October 2010
The serviced offices at Viscount House in Chester which Fairhust Estates are managing on behalf of retained client Condie Investments are proving to be very popular. The 2nd floor is fully occupied by First Line Digital and the 1st floor has a mixture of occupiers including Solex Systems, Signum Aviation, Easy MCS, JP Supplies and ICMSS. Currently there is one suite remaining and plans are underway for the ground floor to replicate the first floor with serviced offices.
Fairhurst Estates have just accepted a surrender of Northgate’s lease at a property owned by retained client Condie Investments at Chester. A ten year lease was then simultaneously granted to Floors to Go.
Fairhurst Estates are in the process of completing a disposal on behalf of Hewden’s at their Abergele property.
The estates team are currently undertaking a large project to upload a major new client’s operational leases onto the FEL ”Qube” Estate Management System.
General Estates News Sept 2010
Rent reviews
Fairhurst Estates Ltd have been appointed to carry out rent reviews on a Barclays property in Edgeley and a property in Bristol on behalf of ”Floors to go.”
Acting on behalf of Bathwick Tyres Ltd at Cambridge Rd, Weymouth a rent review has been agreed at £26,500 per annum for a five year period.
10 year lease agreed
Acting on behalf of National Tyres & Autocare a ten year lease has been agreed at Ferry Rd, Edinburgh. The lease runs from 1st August 2010 with a rental of £49,500 per annum, subject to a rent review after the 5th year. A sub lease has also been granted to Millenium Motors for the same term, at a rental of £24,500 per annum.
Estates News August 2010
Appleton Garage, Widnes
Following the demise of a previously insolvent tenant, Fairhurst Estates Ltd, acting on behalf of Condie Investments Ltd, orchestrated the refurbishment of a former kitchen warehouse and procured a letting to Rushworth’s Auto Repairs Ltd, a local business established in the area for over 20 years. A 10 year lease, without break, was agreed on a stepped rent basis.
Units 1 & 2, 10 Middleton Rd, Banbury
Acting jointly with Liggins Thomas, Fairhurst Estates Ltd has let two units totaling approximately 2,500 sq ft to Londis to trade as a convenience store. A commencing rental of £35,000 pa was agreed. A single unit of approximately 1,200 sq ft remains available for rent.
Surrender deal agreed in Middlesbrough
Acting on behalf of retained clients National Tyre Service Ltd, Fairhurst Estates Ltd agreed terms to surrender the residue of a leasehold liability while simultaneously agreeing terms for T & S Stopres plc, t/a One Stop, to take a new lease from a private landlord. The deal extricated National Tyre Service from a long term rental and dilapidations liability, whilst also creating a valuable investment for a private landlord.
Norwich investment sold
Acting jointly with Christopher Dee Chartered Surveyors, Fairhurst Estates Ltd were involved in the sale of a new build purpose-built tyre and exhaust depot which they built and project-managed for a private client. The property was let to National Tyre Service Ltd on a 15 year lease and was sold to a private investor for an initial yield of 6%.
Freehold disposal in Bristol
Fairhurst Estates Ltd are delighted to confirm the sale of 102 Gloucester Rd, Bristol. Acting on behalf of private clients, Fairhurst Estates Ltd negotiated a substantial sale price and preserved a share in future development value by the agreement of a claw-back provision for a percentage share of any future uplift in value.
Letting to Hi Q franchise agreed in Seven Kings
Fairhurst Estates Ltd has recently been involved in the successful letting of a vacant property on High Rd, Seven Kings, to a franchise of the HiQ tyre and exhaust network. A 15 year lease was agreed without breaks at an undisclosed rent.
General Agency News
- Fairhurst Estates have recently accepted instructions from various sources to dispose of premises in several parts of the UK.
- A disposal in Wales is just about to complete.
- Work contiunes on behalf of several clients to agree terms for lease renewals and one of the team is currently dealing with the surrender a lease.
- Details continue to be forwarded to several roadside occupiers who have active requirements.
Nationwide
SK4 1AS
Fairhurst Estates are pleased to announce that five sites throughout the UK have now received National Tyre & Autocare board approval. Once the legal process has been completed, fit outs of the sites are scheduled to take place. These will be project managed by Fairhurst Estates Building Surveyors.
Viscount Business Centre
River Lane
Saltney
Chester
CH4 8RH
Fairhurst Estates have now completed a refurbishment of a further suite of serviced offices on behalf of retained clients Condie Investments following the success of its initial scheme. All of the “phase one” offices have now been let and another suite is just available following a recent refurbishment. Flexible terms are avaibale and the offices are finished to a very high standard. Viscount House offers a stunning location with good communications and extensive parking.
Visit www.viscountbusinesscentre.co.uk to view the offices and see further details.
709 Chester Rd
Stretford
Manchester
SK4 1AS
Fairhurst Estates acting on behalf of National Tyres and Autocare have recently agreed terms for a lease renewal at Unit 3, Chester Rd, Stretford, Manchester for a term of ten years at a commencing rent of £45,750.00 pa subject to the rent review after the 5th year. The previous rent was £47,500.00 pa.
FEL acting for National Tyres and Autocare have recently agreed a new lease at 3-7 Peebles Street ,Ayr for a term of 10 years from 11/11/09 at a commencing rental of £32,500.00 pa subject to a rent review and a tenants option to break after the fifth year. Fairhurst Estates acting on behalf of NTA have recently agreed a rent review on the Tyre and Exhaust Depot at 558 Cowbridge Rd East, Cardiff at £85,250.00 pa with effect from 24/6/09
Makro SSW (Head Office)
Eccles
Manchester
M30 7RT
Fairhurst Estates are pleased to announce instructions to undertake the role of CDM Coordinator on behalf of Makro on several Future Store Projects in the UK. Makro Cash & Carry UK are part of the Metro Group www.makro.co.uk The works are part of Makro’s refurbishment strategy in the UK which will provide improvements to various departments within the stores. Fairhurst Estates will provide CDMC services and also bespoke Health & safety audits on the Principal Contractor undertaking the works. This additional service caters for the clients exacting requirements.
Whippendell Rd
Watford
WD1 7NE
Acting on behalf of retained clients Condie Investments, Fairhurst Estates carried out the project management of the mixed residential scheme providing 16 residential apartments and circa 4,000 sq ft commercial space. This space has now been successfully let to Tesco convenience stores on a long term lease. A beautiful mosaic runs along one external wall and was designed by children attending the local junior school.
7 Llandegai Industrial Estate
Bangor LL57 4YH
Acting jointly with Beresford Adams of Chester on behalf of Condie Investments Ltd, Fairhurst Estates have Let 7,200 sq ft of industrial accommodation in Bangor to RMG Ltd, a local telecoms engineering specialist. Fairhurst Estates originally acquired the freehold of the property from receivers and organised a comprehensive refurbishment prior to this letting.
