A self-contained office, Davidson House, situated at Gadbrook Park,

Cheshire has been sold for a consideration of £1.525 million showing

the Purchaser an initial yield of 8%.

The building, totalling 13,000 sf, is let to Alphyra (UK) Ltd, Digital

Vision and Active Mortgage Management and produces an income

of £129,215 pa.

Fifield Glyn (01606 351351) represented the Vendors, Mountwise

Holdings Ltd and Kingston & Partners (01543 414300) acted for a

private Client in connection with the purchase.

Fifield Glyn have been granted permission under Part IV of the Financial Services and Markets Act 2000 (FSMA) with effect from 14 January 2005 to arrange insurance of properties and collection of premiums.

Private Clients of Fifield Glyn (01606 351351) have purchased a freehold 8,800 sf two storey office building at 10/12 Farrier Street, Worcester.

The entire is let to Connexions on a 14 year FRI Lease from 24 June 2003 with Rent Review 24 June 2012 at a current rental £46,750 pa for £630,000 (7% net).

 

The Vendor was represented by Peter Bingham & Co of Birmingham (0121 698 2009)

Syndicate Clients of Fifield Glyn have sold Unit 2, Wellfield Business Park, Preston Brook, Cheshire to Greenalls (Runcorn) LLP represented by Christopher Chaplin & Co for £1.1 million (6.5% net).

 

The building extends to 6,175 sf with 34 car spaces and is let to Allied Dunbar on a 15 year FRI Lease from 29 September 1996 at £76,000 pa.

Cheshire based Osborne Investments Limited have acquired a freehold retail investment at 117/119 Dalton Road, Barrow-in-Furness from private Clients of Peill & Company.

The property is occupied by United Co-operatives Retail Travel Limited trading as Barrow Travel for 10 years from 29 June 2001 at a current rent of £41,000 pa which is subject to  an upward only Rent Review in June 2006.

The investment was purchased for £565,000 representing a net initial yield of 7.13%.

Osborne Investments Limited were represented by Fifield Glyn.

The Medici Gallery Ltd have taken an assignment of 5 Cork Street, London W1 on a 10 year FRI Lease from May 2000 for a premium of £40,000. The rental is £50,000 pa.

The ground floor comprised 86 square metres (926 square feet). The Assignees were represented by Fifield Glyn (0207 932 0505).

Old Mutual have let their second floor offices of St Andrew’s Court, Notte Street in Plymouth to Plymouth City Council on a new FRI Lease until September 2009 at a rental of £19,750 pa.

 

The suite totals approximately 185 square metres (2,000 square feet). As part of the transaction the Council surrendered their lease on part of the space they already occupied.

 

Old Mutual were represented by Rod Welfare of Fifield Glyn 0207 932 0505.

Fifield Glyn have been appointed by British Waterways Board to manage:

 

Pagefield Industrial Estate, Miry Lane, Wigan

 

The Estate comprises approximately 15,793 m² (170,000 sq.ft.) consisting of 21 units.

 

Major occupiers include:

Ronfell Group

Team Engineering

Pagefield Engineering

 

Edward Fifield will be responsible for the day-to-day management of the Estate.  Fifield Glyn will be involved with refurbishing and upgrading of the Estate.

 

Richard Smith at Fifield Glyn has been retained on the Agency jointly with Borron Shaw.

 

David Perry, British Waterways’ NW Estates Manager, said: 

 

“Fifield Glyn has a proven track record providing first class estate management.

 

Pagefield is a large site that offers huge investment potential to a wide range of customers that want the best from their manufacturing, engineering and storage space.

 

Fifield Glyn will continue to oversee this extensive portfolio as well as encouraging new businesses to relocate to Wigan.”

  

For further information please contact:

 

Edward Fifield at Fifield Glyn

01606 351 351

“Dutch Courage leads way for Yorkshire mega-park

A private Anglo-Dutch developer is planning South Yorkshire’s largest-ever mixed-use scheme as part of a £500m expansion drive in the UK.

Express Park Developments has bought, subject to planning, 280 acres of reclaimed parkland in the Manvers regeneration zone of Rotherham.

A planning application will next month be submitted to Rotherham metropolitan borough council.

The scheme includes a 200,000 sq ft business park on 11 acres of the site, 250,000 sq ft of retail and leisure – with a multiplex cinema, bowling alley, hotel, restaurants, health centre, lakeside golf course and driving range – as well as 360 homes. The scheme is expected to create 1,500 jobs.

The move is the first in a targeted 10-12 site expansion for Express Park, whose only current UK development is a 105-acre business park in Bridgewater in the South West. Site acquisition and development costs for the Rotherham scheme will entail

an investment of £100m by the developer.

Express Park, which is owned by private Dutch investment company Subinvest, last year took on former Holmes Place property director Suzanne Pugh to run its UK operations.

Pugh said: “We are keen to buy up to a dozen sites of up to 100 acres over the next seven years. We will build a high-quality, mixed-use portfolio which, unlike many developers, we plan to hold long-term.”

She added that she was in talks to buy two more sites – one of 50 acres in the South East and another of 70 acres in Cheshire.

Express Park was introduced to Rotherham MBC by inward investment partnership Renaissance South Yorkshire.

Fifield Glyn acted for Express Park and Chesterton advised Rotherham council.

Express Park has retained Humberts Leisure on the golf and hotel elements, Jones Lang LaSalle on the multiplex and GVA Grimley for the business space.”

ESTATES GAZETTE: 24 July 2004

Richard Smith of Fifield Glyn reports considerable activity at Gadbrook Park, near Northwich where acting behalf of ABS Bodyshop Services Ltd., Fifield Glyn have acquired the Freehold interest of Meridian House, Gadbrook Park, which was formerly owned by Avecia Biotechnology for an undisclosed sum.

 

The building, which was formerly used as laboratories and offices, comprised a gross internal area of approximately 24,400 sq.ft. (2,266 m²) on a 1½ acre site with 65 car spaces.

 

ABS Bodyshop Services Ltd. have retained Fifield Glyn to advise them in connection with the ‘strip out’ of the laboratories, offices, plant and air handling systems and the subsequent total refurbishment to provide a significantly increased net usable area of new fully-fitted open plan and cellular offices, new Entrance, WC, kitchen and staff facilities and reconfigured car parking for up to 79 cars. 

 

Fifield Glyn have already agreed terms on behalf of ABS to pre-let approximately 6,000 sq.ft. of surplus office accommodation.  Lambert Smith Hampton advised Avecia Biotechnology in connection with the sale.

 

Fifield Glyn acting on behalf of Osborne House have agreed to sell a 1.2 acre development plot on Gadbrook Park to Willan Developments for approaching £300,000 per acre.

 

Willan Developments propose to speculatively develop two separate two-store self contained office buildings totalling 26,000 sf (>) capable of sub-division from 2,000 to 5,000 sf together with 100 car spaces which will be offered Freehold or Leasehold. The Agents will be Fifield Glyn and DTZ Debenham Tie Leung.

Osborne House, through Fifield Glyn, have also agreed a sale of 3.2 acres to Roberts Bakery at around £250,000 per acre. Frank R. Marshall advised Roberts.

 

Acting on behalf of Osborne House Ltd., Fifield Glyn have arranged a simultaneous surrender and new letting of No’s 1 and 2, The Stables, Gadbrook Park comprising approximately 7,400 sf (gross) plus 46 car spaces, to Connexions, the Government’s youth education and careers advisors.

 

They will enter into a new 10 year FRI Lease with a 5 year Rent Review at a rent rising to £100,000 per annum, equating to £13.50 psf.

 

Richard Smith of Fifield Glyn advises that in view of the high level of enquiries from both Tenants and owner-occupiers he will shortly be advising his Clients, Osborne House, on a new speculative 6,000 sf single storey office development known as 4-6 Royal Mews, Gadbrook Park, which can be sub-divided to provide units of 1,500 sf and 3,000 sf and which will be available for sale or to let.  Quoting prices are £145 psf Freehold and £14.50 psf Leasehold.