Landmark Great Yarmouth Office Building Sold

One of Great Yarmouth's most prominent town centre buildings, the 7-storey Yarmouth House, has been sold to a local property company. The 19,250 sq ft building in Yarmouth Way was built in the 1970s and housed various Government Departments. It occupies a 0.5 acre site with 45 car parking spaces.

Roche Chartered Surveyors arranged the sale of the freehold office building to Oakville Homes on behalf of Telereal Trillium.

Despite growing expectations that Great Yarmouth will benefit from the boom in off-shore wind farms, the office market has been through a difficult time, particularly in the town centre. James Allen of Roche Chartered Surveyors who handled the sale of the building commented, "The purchase of Yarmouth House is a vote of confidence in the town. There are several offices to let in the town centre and this transaction is one of the most significant in Great Yarmouth for a number of years."

For further information, please contact James Allen.

February 2012

NORWICH - WALES SQUARE, ST FAITHS LANE, SELLS QUICKLY!

Roche acting jointly with BNP Paribas, have recently exchanged contracts on the sale of a redundant office block in Norwich, at close to the guide of £500,000. Roche were instructed to sell the office property within a tight timescale on an unconditional basis. Due to the realistic guide price the property was sold within a few weeks to a residential developer

Sam Kingston of Roche comments, "This sale shows that there are cash buyers looking for opportunities in the city where values are realistic and alternative uses are possible".

February 2012

ROCHE RETAIL COMPLETE DOUBLE SHOP LETTING FOR PRUPIM

Roche Retail have completed two prime shop lettings at 24 and 26 Tavern Street, Ipswich to Hotter and Paperchase. Both retailers took new 10 year leases at a combined rental of £240,000pax.

For further information, please contact Adrian Fennell.

February 2012

NEW IMAGE AND WEBSITE FOR ROCHE

Roche Chartered Surveyors has completed two new branding initiatives. The firm has recently launched a new website following the introduction of its new corporate styling at the end of last year. These two initiatives aim to maintain Roche's position as one of the region's leading firms in its sector, with a modern, forward-thinking image.

Roche commissioned design consultants Four to refresh its corporate branding which appears on the firm's numerous marketing boards throughout the region. One Agency have successfully completed the firm's new website. Potential purchasers and tenants can search on-line for available commercial properties to suit their needs.

"We recognise the importance of being accessible by all forms of communication but there is no doubt that the internet is continuing to be increasingly important in terms of marketing commercial properties and presenting our services to potential clients. Our new website recognises this and picks up on our new corporate branding which has been very favourably received. The website enables occupiers and investors to search for shops to let, available office suites, industrial units and commercial property investments for sale, or whatever their requirements are, and immediately obtain full details of suitable properties", added James Allen, Roche's senior partner.

January 2012

HIGH RANKING FOR ROCHE IN EGi AWARDS

"To be ranked the fifth highest firm overall in East Anglia is a terrific achievement for a single-office firm, particularly in a very difficult market and it reflects the expertise and dedication of our agency team", commented Roche's senior partner, James Allen. "Adrian Fennell's award deserves particular credit, following a very productive year, despite the current climate in retailing."

"Considering the number of shops to let in East Anglia, to have achieved more lettings than anyone else is a great achievement. Furthermore, despite the availability of offices and industrial units to let, we achieved the distinction of arranging the largest lettings in Norwich in both sectors during 2011. We do not expect the market to be any easier in 2012, but our performance last year shows that we are geared up to achieving results", added James Allen.

January 2012

Rent Reviews - All may not be lost

A property professional can think through all matters which relate to the property in the context of the lease and any other relevant legal documents and can advise not only on the issue in question but other matters which may be of significance. 

For example, with the proliferation of 3 year rent review patterns the rent review in question may be the final review prior to the lease expiry. Whilst there may be no evidence for a rent increase the landlord and the tenant may both wish to consider a re-structuring of the lease. This may mean the current lease is surrendered and a new lease put in place for a period of say 10 years at a rent and any other mutually agreed concessions. This has the effect of securing the rental income for a longer period for the landlord and the premises for the good of the tenants business.

Whilst this situation may not be pertinent to your situation there may be other angles which you may like to be aware of and with Roche you can rely on experienced property professionals to ‘think outside the box'. Given the fragility of the markets careful consideration needs to be given to all situations, they are all unique.

For further information, please contact Jackie Crisp.

January 2012

Shop to let in historic Norwich Lanes

Roche have been instructed to let a fully restored and refurbished Grade II* listed ground floor shop situated in the Norwich Lanes.

The Norwich Lanes comprises a combination of independent niche retailers, cafes and residential apartments. The area has its own "village" character and is described by the Guardian as ‘one of the country's most compact, atmospheric and overlooked Christmas shopping destinations.'

Occupiers in close proximity include Loch Fyne Seafood Bar and Grill, The Futon Company and Philip Browne Menswear.

If you are interested in finding out more about this unit, please contact Lee Askew.

January 2012

Punch Taverns - Pub Disposal in Dereham

Roche Retail have been instructed by Punch Taverns to dispose of The Cock Inn - a freehold public house in Dereham town centre. The Cock Inn is an historic public house on Norwich Street which features bar and living accommodation, together with outbuildings including a former coach house.

Graham Jones of Roche commented "having acted for Enterprise Inns for a number of years in the disposal of some of their pubs in the East Anglia region, I am pleased that we have now also been instructed by Punch, which is another leading pub company with some 5,000 pubs throughout the country. Freehold pubs continue to attract strong interest in a challenging market due to their versatility for uses including retail, restaurant, residential or indeed continued licensed use and as a result will often appeal to both local and national investors, developers and owner occupiers."

For further information on The Cock Inn or to register interest in public houses in East Anglia, please contact Graham Jones on 01603 756340 or graham.jones@rochesurveyors.co.uk.

January 2012

Money from Waste!

On behalf of the landlords, Roche have negotiated a new lease and subsequently disposed of the investment on the Household Waste Recycling Centre (HWRC) at Hempton, near Fakenham.

Again on behalf of the landlords, Roche agreed terms for a new HWRC in Thetford and agreed new lease terms on the EMR (http://www.emrltd.com/index.php) site at Longwater, Norwich, adjacent to the A47.

Roche are retained by Pearsons to let off the resultant surplus land premises after advising on two of their sites prior to them selling their waste recycling business to Viridor.

It is evident there is money for landlords with suitable sites in waste as the requirements for recycling are ever more demanding. Roche have the knowledge to deal with the issues involved and can assist you with your commercial property needs.

January 2012

Success at New King's Lynn Industrial Units

Roche Chartered Surveyors acting on behalf of a local property developer have recently completed the letting of 2 units at Hansa Court, North Lynn Industrial Estate, King's Lynn.

The scheme of 7 units was speculatively constructed by David Goddard and the two lettings account for 40% of the floor space. The occupiers are Tapping House and Global Wind Services.

Sam Kingston of Roche commented "It is good to see that developers, prepared to undertake speculative schemes, are able to achieve lettings and it shows that good quality products at the right price with the right terms are proving popular to occupiers". Further units are available.

January 2012

VOA Commercial Property Rating 2011/12

The current Rating List became effective from the 1st April 2010. It sets out the assessment details for each commercial property in England. You can find the assessment which relates to a building you own or occupy on the web site http://www.voa.gov.uk

It is important for both occupiers and landlords to understand the implications of the 2010 revaluation, as current legislation provides for more punitive levels of rates to be paid by landlords and owners on vacant property.

Roche Chartered Surveyors can advise on all aspects of rating, the main issues which you may need to consider being as follows:

· We can check the factual elements of your draft valuation i.e. the floor and site areas, facilities on site and the uses to which all parts of the premises are put.

· We can consider the rates applied to the various different sections of the property, having regard to the valuation date of the 1st April 2008 and advise as to whether the rates applied are appropriate even if the rateable value has decreased.

· Whether your premises, if occupied in conjunction with adjoining premises, could be merged to produce a lower assessment.

· Whether your premises can be split to provide more appropriate assessments.

· We can undertake appeals as necessary after full discussion with you.

· We can provide strategies for reducing empty rates liability.

· We can advise on referring to the Local Authority in instances where only part of the premises may be removed from the rating liability when it is not in occupation.

· Make you aware that you may be able to receive small business rate relief if your rateable value is less than £15,000.

Revenue from rating assessments remains static and uniform business rates for this 2011/2012 year are:

· For smaller properties having a rateable value of less than £18,000 and £25,000 in London, 42.6p.

· For all other properties, 43.3p in the £.

With the current economic climate, it is essential that all businesses and landlords do consider outgoings and if you require assistance on your rates liabilities, please contact our Mrs. Crisp. jackie.crisp@rochesurveyors.co.uk.

January 2012

Car showroom proposed for former factory site

Roche Chartered Surveyors has advised the owners of the former Autowrappers factory site which occupies a prominent position on Norwich's ring road at the junction of Drayton Road and Boundary Road.

The 5.3 acre site has been sold to CarShop, a national company which plans to open its fifth outlet on the Norwich site during 2012. Planning consent has recently been obtained for redevelopment of the site to provide a £6m new showroom facility which will create 100 jobs.

The site is currently occupied by the 73,185 sq ft former Autowrappers factory which has been vacant for several years.

"It is extremely encouraging that this prominent site will be redeveloped with a new facility which will be appropriate for its high profile location. The existing building had limited potential for re-use owing to its age, limited height and condition" commented James Allen of Roche Chartered Surveyors who acted as joint agent on the site.

December 2011

Letting of 44,000 sq ft warehouse on Hurricane Way, Norwich

Acting on behalf of Serruys Properties, Roche have advised on the letting of a 44,000 sq ft warehouse on Hurricane Way ,Norwich.

The property has been taken by Select Cash and Carry and CC & C, who relocated from the Union Park Estate. The letting of the premises, which comprises of four separate units provides further evidence that correctly priced properties will let.

Sam Kingston, of Roche, who acted in the transaction said "with this letting now complete, Roche have let in excess of 140,000 sq ft of warehousing in the last quarter of 2011, which is one of the best take up rates for some time."

December 2011

Union Park, Norwich

Roche Chartered Surveyors acting on behalf of Invista have recently completed two major transactions at Union Park , Fifers Lane, Norwich.

Unit 3-5 Arms Park, a 13,500 sq ft warehouse has been let to ID Surfaces, part of the Saint Gobain group. ID Surfaces trades in Norwich as the Make Over Group.

Unit 2 Arms Park which extends to 22,000 sq ft has been let to a local business for storage and distribution.

Union Park is a major industrial estate adjacent to Fifers Lane and Vulcan Road which is home to a number of local and regional businesses.

Sam Kingston of Roche, the letting agents, commented "These two transactions under pin the interest in this well run and managed mixed use industrial estate. Although the market has been difficult, Union Park manages to perform above average in attracting interest from occupiers".

Stuart Lucas of Hornbeam, Manager for Invista commented "The addition of two new tenants shows the strength of Union Park as a location within the Northern Industrial Estates".

For further information please contact: Sam Kingston

September 2011

Guildford - 41 High Street

Roche Retail let prime shop to ECCO Shoes

Roche Retail have concluded the letting of this prime shop on Guildford High Street to ECCO Shoes. ECCO took on a new 10 year lease at an initial rental of £95,000 per annum exclusive. Guildford is one of the few towns in the UK that is still continuing to show positive rental growth and is one of the most sort after locations from both national and international retailers.

Roche Retail acted on behalf of the landlord, Legal & General.

April 2011

Roche Win Top Regional Agent Award!

Voted most active agent in East Anglia

Roche Retail have won the Estates Gazette 'Top Regional Agent Award for East Anglia' in the Retail & Leisure category. Roche Retail were voted the most active agent throughout the entire East Anglian region and Adrian Fennell, Head of Retail, said that he was "delighted to receive such a prestigious award that clearly recognised Roche Retail's dominance throughout East Anglia".

For further information please contact Adrian Fennell.

March 2011

Property Valuation Matters

RICS Valuation Standards and the Valuers Registration Scheme

Valuation of property matters to us all, especially in the light of recent economic events.

From past experience and having regard to the current market, all in both public and private sector, recognise the importance of property valuations being provided on a proper independent and consistent basis. The Royal Institution of Chartered Surveyors (RICS) have been requiring this for many years now with most valuations having to conform to the current valuations standards.

However the RICS as a governing body does not stand still and it is committed to raising standards further and therefore have initiated the Valuer Registration Scheme (VRS).

This scheme has been put in place "to ensure the quality of valuations, raise the credibility of valuers and provide clients with a clearly identifiable designation for the best regulated and highly qualified professionals in the field".

The VRS will become mandatory in the UK with effect from 30 April 2011 and will apply to all members undertaking valuations under the RICS standards (the Red Book). There can only be benefits to all sectors in society of this VRS scheme as the public can ensure they employ a valuer who has proven their worth in not only the market but under the regime of the RICS and have the confidence that the requirements of the Red Book are continually being reviewed to ensure best practice at all times. It is likely that all lending institutions will require valuations to be carried out by members within the scheme.

The RICS will continually review the valuation standards, provide guidance on the same and those firms which are regulated by the RICS, will be monitored. Therefore ensure when you instruct a Valuer make sure they are members of the VRS.

For further information on those values registered please contact the RICS (www.rics.org).

Jackie Crisp.

Partner Roche Chartered Surveyors - Regulated by the RICS

March 2011

Marstons buy in Fakenham

Roche Chartered Surveyors acting on behalf of Dencora have recently sold a site of approximately 1.4 acres on the Clipbush Lane Business Park (opposite Morrisons) to Marstons pubs.The sale marks an important turning point for the Clipbush Lane Business Park which is now over 50% sold and development has commenced on the GJL Animal Foods site with Marston also commencing development. Ed King of Dencora said "I am pleased that Marstons have chosen Clipbush Lane Business Park, it shows the importance of the strategic location, being close to Morrisons and the principal road network". Sam Kingston of Roche Chartered Surveyors, acting for Dencora, commented "Clipbush Business Park is the premier location for businesses seeking high quality, well located property. The Business Park is under construction and this will lead to a high quality new environment for local and regional companies"

For further information please contact: Sam Kingston

March 2011