The transactions listed below are a selection of deals from throughout the UK recently added to EGi. EGi provides the market’s leading comparables database, fully researched and updated with more than 5,000 new results each month
SIGNIFICANT DEAL
Chosen by Simon Taylor, Naylors
Salvus House, Aykley Heads, Durham, DH1 5TS
Type of deal Office sale
Size 2,250 sq ft
Vendor Sunderland Marine Insurance
Purchaser Durham County Council
Price £3m
The recent sale of a headquarters office building on the outskirts of Durham, which is going to be remodelled to create a hub for growing businesses, represents a trend throughout the North East for landlords splitting up large office buildings to supply smaller, more flexible suites.
Salvus House was placed on the market in 2015 and was purchased by Durham County Council for £3m to become the Durham City Incubator. This represented the largest office transaction in the North East in Q3.
It will provide suites of 3,000 to 9,000 sq ft for businesses with between 30 and 90 staff. The building will also offer space for new businesses and areas for individuals requiring flexible workspace.
Business hubs are fulfilling the demand for office space serving the requirements of small businesses with flexible lease terms and offer occupiers a range support services wrapped into the cost.
OFFICES
Unit 11, Roman Way Business Centre, Berry Hill Industrial Estate, DROITWICH WR9 9AJ
Size 1,950 sq ft (181 sq m)
Date of deal 17/10/2016
Sold £210,000
Vendor’s agent GJS Dillon
Purchaser UK MB-I
7-13 Orford Place, Norwich, NORFOLK NR1 3RZ
Size 1,258 sq ft (117 sq m)
Date of deal 18/08/2016
Rent £7,500, 10-year lease, nine months rent-free, tenant-only break at year five
Lessor Threadneedle Pensions
Lessor’s agent Francis Darrah
Lessee MADE Agency
INDUSTRIAL
Unit A, Viking Business Park, Rolling Mill Road, JARROW NE32 3DP
Size 16,594 sq ft (1,542 sq m)
Date of deal 18/10/2016
Sold £500,000
Purchaser Rubber Road
Purchaser’s agent HTA Real Estate
Units 1, 2 and 3, Mill Road, STOKENCHURCH HP13 3TP
Size 16,034 sq ft (1,490 sq m)
Date of deal 15/10/2016
Sold £1,350,000
Vendor’s agent Grant Mills Wood
Vendor St Clair Developments
Purchaser Chiltern of Bovingdon
Purchaser’s agent Brasier Freeth
3 St Quivox Road, PRESTWICK KA9 1LJ
Size 6,727 sq ft (625 sq m)
Date of deal 14/10/2016
Sold £190,000
Vendor’s agent Graham & Sibbald
Purchaser Jonick
RETAIL
32 Friar Lane, NOTTINGHAM NG1 6DQ
Size 931 sq ft (86 sq m)
Date of deal 14/10/2016
Rent £19,000 pa, 10-year lease, four months rent-free, break at year five
Lessor Charles Clowes Pension
Lessor’s agents FHP and LSH
Lessee Deluxe Eye Care
39-41 High Street, CONGLETON CW12 1AU
Size 8,749 sq ft (813 sq m)
Date of deal 25/10/2016
Sold £1.3m
Vendor JSSH
Vendor’s agents Butters John Bee and Christopher Dee
Purchaser SHS Estates
Purchaser’s agent TFC Commercial
Lessee Superdrug and WHSmith
12 Trim Street, BATH BA1 1HB
Size 816 sq ft (76 sq m)
Date of deal 06/10/2016
Rent £25,000, 10-year lease, four months rent-free, break and review at year five
Lessor’s agent Colston & Colston
Lessee Bathrooms at No. 5
Units 1, 2 and 3, Mill Road, STOKENCHURCH HP13 3TP
Size 16,034 sq ft (1,490 sq m)
Date of deal 15/10/2016
Sold £1,350,000
Vendor’s agent Grant Mills Wood
Vendor St Clair Developments
Purchaser Chiltern of Bovingdon
Purchaser’s agent Brasier Freeth
COMPETITION RESULTS: CHESHIRE
Most active agent
1. Legat Owen
2. Morgan Williams Chartered Surveyors
3. B8 Real Estate
4. Beresford Adams Commercial
5. JLL
Dealmaker: Will Sadler, Legat Owen
“Take-up is almost back to pre-recession levels, with significant lettings across the county. There are a number of quick and easy wins in the short term, while the medium to long-term promises to be a time of meeting more fundamental challenges.”
The transactions listed below are a selection of deals from throughout the UK recently added to EGi. EGi provides the market’s leading comparables database, fully researched and updated with more than 5,000 new results each month
SIGNIFICANT DEAL
Chosen by Simon Taylor, Naylors
Salvus House, Aykley Heads, Durham, DH1 5TS
Type of deal Office sale
Size 2,250 sq ft
Vendor Sunderland Marine Insurance
Purchaser Durham County Council
Price £3m
The recent sale of a headquarters office building on the outskirts of Durham, which is going to be remodelled to create a hub for growing businesses, represents a trend throughout the North East for landlords splitting up large office buildings to supply smaller, more flexible suites.
Salvus House was placed on the market in 2015 and was purchased by Durham County Council for £3m to become the Durham City Incubator. This represented the largest office transaction in the North East in Q3.
It will provide suites of 3,000 to 9,000 sq ft for businesses with between 30 and 90 staff. The building will also offer space for new businesses and areas for individuals requiring flexible workspace.
Business hubs are fulfilling the demand for office space serving the requirements of small businesses with flexible lease terms and offer occupiers a range support services wrapped into the cost.
OFFICES
Unit 11, Roman Way Business Centre, Berry Hill Industrial Estate, DROITWICH WR9 9AJ
Size 1,950 sq ft (181 sq m)
Date of deal 17/10/2016
Sold £210,000
Vendor’s agent GJS Dillon
Purchaser UK MB-I
7-13 Orford Place, Norwich, NORFOLK NR1 3RZ
Size 1,258 sq ft (117 sq m)
Date of deal 18/08/2016
Rent £7,500, 10-year lease, nine months rent-free, tenant-only break at year five
Lessor Threadneedle Pensions
Lessor’s agent Francis Darrah
Lessee MADE Agency
INDUSTRIAL
Unit A, Viking Business Park, Rolling Mill Road, JARROW NE32 3DP
Size 16,594 sq ft (1,542 sq m)
Date of deal 18/10/2016
Sold £500,000
Purchaser Rubber Road
Purchaser’s agent HTA Real Estate
Units 1, 2 and 3, Mill Road, STOKENCHURCH HP13 3TP
Size 16,034 sq ft (1,490 sq m)
Date of deal 15/10/2016
Sold £1,350,000
Vendor’s agent Grant Mills Wood
Vendor St Clair Developments
Purchaser Chiltern of Bovingdon
Purchaser’s agent Brasier Freeth
3 St Quivox Road, PRESTWICK KA9 1LJ
Size 6,727 sq ft (625 sq m)
Date of deal 14/10/2016
Sold £190,000
Vendor’s agent Graham & Sibbald
Purchaser Jonick
RETAIL
32 Friar Lane, NOTTINGHAM NG1 6DQ
Size 931 sq ft (86 sq m)
Date of deal 14/10/2016
Rent £19,000 pa, 10-year lease, four months rent-free, break at year five
Lessor Charles Clowes Pension
Lessor’s agents FHP and LSH
Lessee Deluxe Eye Care
39-41 High Street, CONGLETON CW12 1AU
Size 8,749 sq ft (813 sq m)
Date of deal 25/10/2016
Sold £1.3m
Vendor JSSH
Vendor’s agents Butters John Bee and Christopher Dee
Purchaser SHS Estates
Purchaser’s agent TFC Commercial
Lessee Superdrug and WHSmith
12 Trim Street, BATH BA1 1HB
Size 816 sq ft (76 sq m)
Date of deal 06/10/2016
Rent £25,000, 10-year lease, four months rent-free, break and review at year five
Lessor’s agent Colston & Colston
Lessee Bathrooms at No. 5
Units 1, 2 and 3, Mill Road, STOKENCHURCH HP13 3TP
Size 16,034 sq ft (1,490 sq m)
Date of deal 15/10/2016
Sold £1,350,000
Vendor’s agent Grant Mills Wood
Vendor St Clair Developments
Purchaser Chiltern of Bovingdon
Purchaser’s agent Brasier Freeth
COMPETITION RESULTS: CHESHIRE
Most active agent
1. Legat Owen
2. Morgan Williams Chartered Surveyors
3. B8 Real Estate
4. Beresford Adams Commercial
5. JLL
Dealmaker: Will Sadler, Legat Owen
“Take-up is almost back to pre-recession levels, with significant lettings across the county. There are a number of quick and easy wins in the short term, while the medium to long-term promises to be a time of meeting more fundamental challenges.”
To submit your deals please e-mail deals@egi.co.uk or tweet @egideals
