King's Lynn - Vancouver Quarter

Roche Retail have secured the letting mandate on the 375,000 sq ft Vancouver Quarter that comprises around 60 retail units anchored by Sainsbury's, Wilkinson and Beales Department Store.

The Shopping Centre forms part of the prime retail offer in King's Lynn and also has the benefit of the largest car park in King's Lynn, totalling 415 spaces.

Roche Retail have been instructed by the Lotus Group to undertake letting of the available units and asset management initiatives. Commenting on this new instruction, Adrian Fennell said that it underlined Roche Retail's predominant position in shopping centre letting in the East Anglia region. Adding to existing shopping centre instructions in Great Yarmouth, Lowestoft, Norwich and Newmarket.

May 2013

Norfolk Freehold Pub Sales Continue Throughout Summer

Despite the Summer being a traditionally quiet period in the commercial property market, Roche Chartered Surveyors leisure team were pleased to have successfully sold two more freehold public houses on behalf of Enterprise Inns plc and be instructed to sell a further three, one of which has recently been put under offer, whilst the other two are already attracting strong interest.

The five pubs comprised two in Norwich and ones in Wymondham, Coltishall and Swainsthorpe.

Graham Jones of Roche, who acted for Enterprise Inns, commented: "The positive interest shown in the pubs continues to demonstrate robust demand for sensibly priced freehold opportunities, in what is still a very challenging market. It is also interesting to note that despite already having a comprehensive list of applicants on our database, by conducting a strong marketing campaign it is still possible to find a number of new prospective purchasers with cash funds who are willing to buy unconditionally. Indeed, two of the sales have gone to best and final offers''

Roche have now acted for Enterprise Inns plc for nearly 5 years and continue to be involved in the sale of freehold pub sites throughout the East Anglia region.

For further information contact graham.jones@rochesurveyors.co.uk.

October 2012

Newmarket - The Guineas Shopping Centre

Roche Retail are retained by Helical Bar to undertake the retail agency on The Guineas.  Since Helical Bar's purchase of The Guineas at the end of 2010. Roche have completed 11 new lettings resulting in the Shopping Centre having virtually no vacant units. One of the most recent transactions was of the simultaneous letting of the former Peacocks unit to Poundland which immediately improved pedestrian flow throughout the Centre.

Another initiative has been the letting of smaller retail units to local specialist food retailers resulting in an award winning delicatessen, fishmongers and butcher, adding to the multiple tenant line up.

October 2012

Aberdeen Property Investors - Unit C Frenbury Industrial Estate, Norwich

Roche acting on behalf of Aberdeen Property Investors have been instrumental in marketing Unit C Frenbury, a 41,000 sq ft warehouse located adjacent to the Outer Ring Road.

The property was substantially refurbished to ensure it stood out from competing premises and with the benefit of a secure self-contained yard, has been of interest to several potential occupiers.

A number of parties have inspected the property and it has now been let to Edmundson Electrical for a new 15 year term.

November 2011

Legal & General - Royal Arcade, Norwich

For the past seven years Roche Retail have provided asset management, agency and professional advice to Legal & General on this Grade II listed arcade linking Gentleman's Walk to Castle Street.

Following a regearing exercise with the majority of the tenants, the Royal Arcade is fully let and rental values have been maintained throughout the recession.

Following a strategic overview, Waterstones were identified as a potential risk having a second branch within 50 metres and after discussions with them, Roche Retail negotiated a surrender of their lease and a simultaneous new 25 year lease to Jamie's Italian ensuring a key anchor tenant is retained for the Arcade going forwards.

November 2011

Miller - Great Yarmouth, Market Gates Shopping Centre

Roche Retail acted on behalf of Miller in their purchase of Market Gates Shopping Centre in 2005.

Miller subsequently extended the Centre following pre-lettings to Debenhams and New Look, with subsequent lettings agreed to Brighthouse, Starbucks and O2.

We have also provided asset management and letting advice for the Centre throughout, with key lettings agreed to 99p Stores, Store 21 and Blue Inc.

November 2011

Tesco - Campbells Meadow, King's Lynn

Roche Chartered Surveyors are acting for Tesco Stores in providing advice on the letting of commercial units which are to be built as part of the planning obligation for the new Tesco Superstore. The site will provide approximately 8,000 sq ft of offices, 10,000 sq ft of smaller industrial units and a 20,000 sq ft warehouse.

Roche provided advice to Tesco on the likely market demand, rental level and freehold values to enable them to undertake their detailed appraisal. The new premises, when constructed, will be one of only a handful of brand new offices and warehouses in the town.

November 2011

HCL - Yare House, Norwich

Roche have acted for the owners of Yare House for a number of years having previously sold the investment to Indigo Commercial Properties. Roche provided advice to the owners on the comprehensive refurbishment of the premises which included a new fourth floor.

The property has attracted a wide range of interest from occupiers due to the quality of the accommodation and its location and accessibility.

The first letting has been undertaken to Rostrons (local accountants) with further floors under offer. The refurbishment and subsequent interest in the property shows that quality opportunities in the right location will be of interest to occupiers, even in a depressed market.

November 2011

ATB Laurence Scott - Gothic Works, Norwich

Roche have provided strategic property advice to ATB Laurence Scott, one of Norwich's iconic manufacturing businesses. This has included negotiating the purchase of the freehold interest in its existing premises; Gothic Works is a multi-million pound property deal. As the company only had a short-term lease, this effectively secured the business in Norwich and removed doubt over its future.

Subsequently, the freehold of an adjoining site has also been bought in, enabling the company to completely control its own destiny. On-going advice involves planning issues, the company's future property strategy and liaison in respect of development proposals in the East Norwich area.

November 2011

Dencora - Clipbush Lane, Fakenham

Roche acted for Dencora in the acquisition of an un-serviced development site at Clipbush Lane, Fakenham.

Advice was provided regarding the potential occupiers for the scheme and the likely values which would be achievable.

Since the site has been acquired Travis Perkins, Marstons and GJL Animal Foods have all acquired land and constructed units.

November 2011

27 Castle St, Norwich

Acting on behalf of the Receivers we manage this large, standalone block of shops with vacant offices on the upper floors. The building has frontages onto Castle Meadow, Castle Street and Arcade Street. Occupiers include O2, Schuh, Joules and Maplin.

On taking over the management we undertook a comprehensive review of the services provided, streamlined them and cut costs to the tenants.

Additionally, we are advising our client on the rating issues associated with this mixed use property as well as being the letting agents.

November 2011

Amari Group - Haldin and Jacquard House, Norwich

We took over management of this mixed use part three and part four storey building in the centre of Norwich near the Cathedral in September 2010.

We have had to oversee and solve a variety of service charge related issues relating to:

• The refurbishment of the ground and first floor bar accommodation
• An extremely large outstanding utilities bill
• Lack of security on site
• Updating of fire provisions
• Updating of Fire and Health and Safety Audits
• A variety of leasehold arrangements
• New tenants
• Out of date utilities contracts

A phased series of further alterations and improvements are planned for the new service charge year budget to keep the building and the service to the tenants to a high standard, whilst keeping the service charge to a minimum, improving value for money for the tenants.

November 2011

Breckland Council - Minstergate, Thetford

With the change in economic climate, Roche has recognised the challenge facing landlords and tenants alike and has evolved to attain the best outcome for each client. The prevailing trend has been a change in attitudes and relationships between the parties. An era of pragmatism has developed with parties disposed to discuss issues and reach agreement.

We act for Breckland Council who own the former Somerfield store in Thetford, which extends to about 29,500 sq ft, now occupied by Wilkinsons and Poundstretcher. This is a recently purchased investment for the council.

Rent review negotiations are on-going.

November 2011

Lovewell Blake - Broadland Business Park, Norwich

The largest office letting in the Norwich area this year, regional accountancy firm, Lovewell Blake has leased two floors totalling 20,000 sq ft in Bankside 300, the latest office building at Broadland Business Park. Lovewell Blake plans to move into the building during November following its recent merger with Banham Graham.

The letting is the latest in a string of transactions in which Roche have been involved, having been consultants and letting agents for the business park since its inception nearly 20 years ago. Since construction of the scheme commenced in 1998, much of the first phase of 200 acres has been development, including over 300,000 sq ft of offices and approximately 680,000 sq ft of warehouse and other uses. Approximately 3,700 people are now employed at Broadland and the adjoining business parks.

James Allen of Roche, the letting agent for Broadland Business Park commented, "We are very pleased that Lovewell Blake, as one of Norwich's leading professional firms, has decided to move to Broadland Business Park, recognising it's pre-eminence as the leading business park in the Norwich area and one of the largest schemes in East Anglia".

November 2011

C & J Clark - 39 High Street, Leighton Buzzard

Roche have acted on behalf of C&J Clark on a number of freehold acquisitions and sale and leasebacks throughout the country.

Recently Roche have offered 39 High Street, Leighton Buzzard for sale on the basis of a 10 year lease back to C&J Clark International.

The property is currently under offer.

November 2011

Legal & General - Friary St, Guildford and Royal Arcade, Norwich

As part of an asset enhancement drive, Roche have advised Legal & General on two lettings to Jamie's Italian in Friary Street, Guildford and Royal Arcade, Norwich.

Both transactions involved negotiating surrenders with existing tenants and securing new long leases to Jamie's Italian, thus improving investment value and driving pedestrian flow in both locations.

November 2011

Aviva - St Stephen's Street, Norwich

Roche Retail act on behalf of Aviva providing all the agency advice on their St Stephens Street ownership. This has involved a number of pro-active asset management initiatives and lettings over the last couple of years to reposition the street and drive values forward. New lettings have been agreed to Brighthouse, Yours, CEX, Coral, Sole Sensations and Cardzone.

October 2011

X leisure - Riverside, Norwich

Acting for X-Leisure, Roche advise them on the Riverside Quarter, Norwich comprising over 200,000 sq ft of dedicated leisure.

It is anchored by a 13 screen Odeon cinema, alongside Hollywood Bowl, Fitness First, Project Nightclub, restaurants and a range of waterside bars.

Following the surrender of a prime unit this was split into three separate entities and Roche advised on its re-letting to Chiquitos, Bella Italia and Artorios.

October 2011

BNP Paribas - King St, Norwich

Changes in ownership, refurbishment of premises, and growth of the management function, plus a myriad of other reasons, have resulted in our management business base growing substantially over the last few years.

One property we were instructed on in March 2010 is a beautifully reconstructed and extended mixed use development in Norwich city centre.

Management issues regarding rent collection and service charge misallocation created various issues for the landlord and eventually the receivers. We have managed to review all those issues and streamline them into a more manageable state, whereby the tenants have been informed at every stage of the changing process.

Since the beginning of October 2011, the sale of the investment, which was sold by Roche, completed and the new owners, Black Orange Investments have assumed the role of self-managing the property.

October 2011

East of England Co-op - Hall Rd, Norwich

Acting for the East of England Co-op we achieved an increase in rent on the Auto Devotion premises.

An interesting case, the car showroom and workshop has an area of about 12,800 sq ft. The premises have the largest external car sales spaces of any of the comparable leasehold properties in Norwich and the rent review pattern was 7 yearly, an unusual frequency.

These two issues gave rise to justification for an increase with which the client was pleased in this difficult market.

October 2011

Legal & General - 43 High Street, Guildford

Acting on behalf of Legal & General, in October 2011 Roche advised on the purchase in of 43 High Street Guildford which is let to Santander UK PLC at a current passing rent of £155,000 pax.

October 2011

48 London Street, Norwich

Acting on behalf of a landlord from South London we advised on the 2010 rent review on these premises occupied by Costa Coffee.

One issue to agree with the tenants retained surveyor was on floor areas. The floor layout is unusual and challenged the measuring techniques of both surveyors.

Although an agreement was reached on floor areas, the rent at review was recorded at a nil increase.

Although it is recognised that times are testing, it was disappointing that we could not achieve uplift in the rent. However we were able to advise our client, with confidence, all aspects of the review had been considered and the conclusion reached was due to lack of good comparable evidence at rents higher than that already paid.

September 2011

Fosters Solicitors - Bank St, Norwich

Fosters Solicitors occupy the prominent corner of Bank St and Bank Plain in Norwich city centre. We were instructed to undertake a review of the rating assessments and attempt to reduce the occupier's liability for business rates payable.

The main body of the office accommodation is located on two floors above what formerly was the Post Office and is now vacant shops to let. The reception area is on the ground floor only and the whole area occupied by Fosters previously had been subject to two separate assessments with one assessment having too many parking spaces attributed to it.

We appealed against the 2010 assessment and the parking spaces were reduced appropriately. We agreed with the Valuation Office to merge the assessments which resulted in a substantial reduction in rateable value and therefore a decrease in rates payable but a lower rates liability for the future.

We have advised Fosters on the 2010 list and 2005 list assessments on all their offices.

September 2011

Enterprise Inns - 164 Cromer Road, Norwich

Acting on behalf of Enterprise Inns PLC, Roche agreed the letting of this former pub to Tesco Stores Limited on a new 20 year lease. Subsequently, Roche were instructed to sell the freehold investment and successfully negotiated the sale to a local investor which completed the sale within one month from solicitors being instructed and at a price reflecting a sub 6% yield.

The letting confirmed the strong demand there is amongst retailers, particularly food retailers, for certain public houses which are located in prominent locations and benefit from good sized car parks.

The investment sale demonstrated that despite the challenging economic climate, the investment market for properties let on long leases to tenants with a strong covenant is still relatively buoyant and often they provide investors with an attractive and robust alternative to other forms of less well performing investments.

August 2011

27 London St, Norwich

On behalf of the property owners we have advised on and appealed against the 2010 list rateable value for these premises.

It is on the basis that they have been rated as a property on London Street. However in practise the premises does not have the benefit of a full retail frontage to the street. Secondly, no allowance has been made for frontage-to-depth ratio of the unit which should diminish its rateable value.

We are currently awaiting further information on the schedule of negotiations with the Valuation Office.

We are also retained as letting agent for the landlord.

August 2011

Enterprise Inns - 131 Colman Road, Norwich

Roche were instructed to sell the freehold interest of this former pub on behalf of Enterprise Inns PLC. Following very strong interest, mainly from retail developers, best bids were invited and the pub was sold unconditionally to Yorkshire based developer Commercial Development Projects.

CDP subsequently retained Roche to act on their behalf in seeking interest in their proposed redevelopment scheme which comprised converting the pub into two retail units with four flats above and building a 4,000 sq ft retail unit on part of the former pub car park.

Prior to works being completed Roche agreed the sale of the freehold interest of the new retail unit to East of England Co-op and subsequently let the completed ground floor retail units to Coral and Cashmaker.

June 2011

13-15 Cathedral St, Norwich

We assisted the owner of these premises to arrange a temporary occupation thus mitigating his empty rates liability.

These were two storey refurbished offices and after three months the client was looking to pay full rates liability on the vacant premises.

The offices are now let and income producing.

June 2011

Telereal Trillium - Yarmouth House, Great Yarmouth

Reflecting its involvement in significant office properties throughout East Anglia, Roche has been instructed by Telereal Trillium to market Yarmouth House, a landmark building in the centre of Great Yarmouth and one of the town's principal office buildings.

The 7-storey building extends to 19,259 sq ft (1,790 sq m) and has the benefit of 49 car parking spaces. The former Crown property enjoys outstanding views over Yarmouth's port, the town centre and the surrounding countryside.

The property is being offered for sale or to let as a whole or by individual floors.

June 2011

North Norfolk District Council - North Norfolk

Roche were pleased to have been appointed to carry out CIPFA and RICS Valuations Standards compliant valuations on 121 of the properties either held by the authority for investment purposes or occupied by it as tenant.

Given the properties were within the geographical area of NNDC, Roche had a well-established knowledge of the locations of all of the premises which varied from industrial estates held for investment purposes, to ground rents on a variety of properties from sea front uses to tennis courts and car parks.

Roche assisted the NNDC officers in categorising the various properties, as required by the CIPFA regulations.

April 2011

Decco - Rosary Road, Norwich

Acting on behalf of Decco, Roche provided advice on the residential value of a redundant warehouse complex.

The property was located in a mixed use area and the client required swift resolution to the disposal of the site. Consequently the land was put onto the market with a set closing date (informal tender) which resulted in a number of bids, both on a conditional and unconditional basis. The preference was for an unconditional disposal and an acceptable figure was achieved.

The site is now ready for residential development.

March 2011

J & H Bunn - Great Yarmouth

Towards the end of 2010 and early 2011, J & H Bunn Ltd requested a valuation of their extensive portfolio which enabled them to sell the business to an American corporation, Koch Industries.

The portfolio comprised nine properties ranging from sites inland and in Great Yarmouth, the main base for the company, and from vacant land and premises, through to owner occupied premises, rented accommodation to investment properties and which included one listed storage premises.

Roche had to work closely with the client and their other advisors, PWC and Birketts at all stages to ensure a smooth transaction was achieved.

January 2011

Advanced Professional Award in Expert Witness Evidence for Jackie Crisp

Jackie Crisp, a Partner in Roche Chartered Surveyors of Norwich, has recently achieved an Advanced Professional Award in Expert Witness Evidence, a Masters level qualification held by no more than 150 surveyors throughout the UK and which is now the only standard recognised by the Royal Institution of Chartered Surveyors, of which she is a Fellow. The qualification recognises Mrs. Crisp's ability to act as an Expert Witness in legal disputes involving commercial property issues.

To accomplish the top award, Mrs. Crisp undertook an intensive course culminating in taking and passing the requisite examinations.

Mrs. Crisp has been in the surveying profession for over 30 years, specialising in commercial property throughout East Anglia. She commented, "The Expert Witness Qualification endorses my credentials to act as a witness in legal disputes and I look forward to working in conjunction with Lawyers and their clients in helping to resolve cases in the future."

January 2011

Hamlin Electronics - Saw Mills Road, Diss

When the American company, Hamlin Electronics developed a new purpose-built factory of 64,000 sq ft (5,958 sq m) on a 3.7 acre (1.5 hectare) site in 1995, it established the largest manufacturing plant in the South Norfolk market town of Diss. Following a re-organisation of the business in 2009, the property became surplus to requirements.

Roche were engaged jointly with Cushman & Wakefield to market the property locally, nationally and globally, mindful that it was likely to appeal to a company outside the town in view of its size.

A sale of the property to Glazing Vision Limited, a company previously based at Brandon in Suffolk, gave the local economy a massive boost and coincided with Hamlin's move to a new technical centre at Broadland Business Park in Norwich.

James Allen of Roche who negotiated the sale commented, "It was extremely satisfying that the property was bought by another manufacturing company and has therefore remained a source of local employment, enabling Hamlin to progress its own plans and maintain a strong presence in the area. The sale was the largest industrial building to change hands in Norfolk during 2010".

August 2010

Enterprise Inns - Plumstead Road, Norwich

Acting on behalf of Enterprise Inns Roche was involved in the sale of the former Woodside Pub.

The property sits on an acre site which means that it is likely to be developed for alternative uses.

After promoting the premises a successful sale was achieved to a residential developer on an unconditional basis.

March 2010