Roche Chartered Surveyors

56 Thorpe Road, Norwich,
Norfolk, NR1 1RY

Tel: 01603 619876
News

News

Latest news from Roche:

Lovell Relocates to Grade A Offices on Broadland Business Park, Norwich

Lovell Relocates to Grade A Offices on Broadland Business Park, Norwich

Lovell is to relocate to Broadland Business Park, Norwich .....

October 2017

Lovell Relocates to Grade A Offices on Broadland Business Park, Norwich

Leading national partnership housing developer Lovell is to relocate to Broadland Business Park in Norwich from its existing premises on nearby Thorpe Road.


The company has agreed a 10-year lease on both suites on the second floor of the Lakeside 500 building, comprising 8460 sq ft (786 sq m). Lovell is set to take occupation by the end of October.

Established in Norwich for over 15 years, Lovell is moving following the continued expansion of its highly successful East Anglia business. Its workforce in the region has grown from 79 to 114 in only the past year, with more than half of employees being office-based.

Lovell, which has 900 employees nationwide, is a housing developer specialising in residential construction and partnership housing. Current schemes in East Anglia include fast-selling Firs Park, a £13.5 million, 67-home development of 57 homes for sale and 10 affordable homes in Hellesdon, Norwich. Among other major projects is  £19.9 million Orchard Place, developed in partnership with the Borough Council of King's Lynn and West Norfolk, and the recently launched 213-home, £58.6 million Heath Farm scheme in Holt.

Simon Medler, Regional Managing Director for Lovell, said: "This is a very exciting time for Lovell in East Anglia where we are working on some of the region's most high-profile housing projects. Our move to these impressive premises at Broadland Business Park will play an important role in the business's continuing growth, providing our teams with increased space, modern office accommodation and a fantastic working environment, thanks to the excellent range of facilities on or near Broadland Business Park. We are looking forward to the move."

James Allen of Roche Chartered Surveyors said: "The second floor suite of Lakeside 500 provides Lovell with some of the best Grade A office space in Norwich. It is a superb location, being in the centre of the Park and adjacent to the lake and Waterside Café. Lovell is an ideal tenant for Broadland Business Park and joins some of the area's leading companies on the Park.

"As well as excellent facilities and accommodation, public transport links are very good and the Park benefits from its location on the A47, east of Norwich and the new Norwich Northern Distributor Road, which runs adjacent to the Park.

Tenants on the Park include Aviva, Lovewell Blake, NHS Norfolk, RBS, Bertram Books, Start-rite Shoes, RBS, Persimmon Homes, TaxAssist Accountants, Bunn Fertiliser, VPS Evander and D & F McCarthy.

For details of the office and commercial opportunities at Broadland Business Park, contact James Allen at Roche Chartered Surveyors, 01603 619876, james.allen@rochesurveyors.co.uk, Nick O'Leary at Lambert Smith Hampton, 01603 931764 or go to www.broadlandbusinesspark.co.uk.

October 2017

Strong demand reduces availability of industrial and warehouse units

Strong demand reduces availability of industrial and warehouse units

The industrial and warehouse market is in strong demand .....

October 2017

Strong demand reduces availability of industrial and warehouse units

The industrial and warehouse market in Norwich, and elsewhere in Norfolk, has seen strong demand in the last two years with the availability of larger buildings halving over an 18-month period.

Roche Chartered Surveyors monitor the availability of buildings over 10,000 sq ft in the Norwich area.  In September 2015, total availability of such buildings stood at a peak of 393,000 sq ft.  By April 2017, the figure had dropped to below 152,000 sq ft.  The reduced availability during this time has restricted take-up and therefore a modest increase in availability in the last 6 months, largely a result of re-structuring by a small number of occupiers, has helped to meet market demand.

The underlying trend of reduced availability is causing upward pressure on capital and rental values which will hasten the day when new speculative development is likely to occur.  Recent new developments have been restricted to owner-occupiers and starter units.  Refurbishment of old sites in established locations meet a ready demand, a prime example being Unit 2 at Burton Road Business Park which was virtually re-built by Harber Properties to create a high-specification 16,760 sq ft that was let to ERIKS, a national engineering services business who relocated from Union Park.  This was the largest letting in the first half of the year.

Demand for smaller units of less than 10,000 sq ft has been equally strong with few available unit on the principal estates at Bowthorpe, White Lodge, Sweetbriar and Hellesdon Hall.  With most of Norwich's industrial estates being owned by pension funds and other landlords, there is a pent-up demand for freehold units and buildings. Demand for property on the north side of the city has been boosted by the prospects of better accessibility with the imminent opening of the Northern Distributor Road.

With little new development in recent years, availability rates are also low in the main centres throughout the county including King's Lynn, Great Yarmouth and Dereham, with few freehold opportunities in most of the market towns.

The sustained improvement in the market over the last two years bodes well but the availability of sufficient immediate choice for businesses wanting to expand will become a concern if new development does not increase the supply.  The provision of new buildings is essential and it must be hoped that economic returns and other factors enable developers to respond accordingly.

James Allen

October 2017

Roche host 23rd Annual Pimms & Petanque Competition at Hoveton Hall in Norfolk

Roche host 23rd Annual Pimms & Petanque Competition at Hoveton Hall in Norfolk

This esteemed event in the Roche social calendar  ....... is hosted at Hoveton Hall ......

July 2017

Roche host 23rd Annual Pimms & Petanque Competition at Hoveton Hall in Norfolk

This esteemed event in the Roche social calendar has been heard to rival the class and sporting prowess you would find on display at Wimbledon. The twice annual Pimms & Pétanque competition is hosted at Hoveton Hall and the event is set within the gravelled courtyard of the former stables which offer protection from cross winds (so no excuses) and it provides four suitable pistes on which to play.

The weather was very good this year and clients along with fellow professionals and friends donned their French attire with a (similar) elegance only found on the catwalks of Paris. All the competitors took part in the competition with great camaraderie (for the most part) and there were moments of Pétanque brilliance on display on splendid summer evenings.

Both competitions consisted of eight teams, with three games being played by each team before a 'half time' supper which was held within the Hall. After refuelling on a delectable meal accompanied by plenty of wine (for rehydration) the final game was played by each team to determine the final rankings.           

The first week's final was fought between the Calais Chuckers and the Bordeaux Bowlers. It was finally won by the latter, represented by Richard Utting of Richard Utting Associates, Alan Hepburn of Real Consulting, Mark Mayhew of RG Carter and accompanied by Lloyd Perry of Roche.

The first week's best dressed accolade was awarded to the Marseilles Musketeers, which comprised of the commercial property team at Birketts - Andrew Ridout, Greg McCurday, Joe Yexley and Laura Jones.

The second weeks final was fought between the Paris Pitchers and the Marseille Musketeers. It was finally won by the latter, which comprised of the commercial property team of Howes Percival - Alice Liddle, Paula Cole, Tom Skinner, Bill Trow and were accompanied by Roche partner Adrian Fennell. The success did not stop there for them as they also won the best dressed award making it a clean sweep.

The twice annual  Pimms & Pétanque event is a much loved event in the calendar here at Roche Chartered Surveyors and we look forward to welcoming our clients, fellow professionals and friends for the 2018 competition.

July 2017

Assets of Community Value - implications on the sale of property

Assets of Community Value - implications on the sale of property

Assets of Community Value (ACV) enable qualifying local community groups to nominate land or buildings that provide an ...

July 2017

Assets of Community Value - implications on the sale of property

Introduced by the Localism Act 2001, Assets of Community Value (ACV) enable qualifying local community groups to nominate land or buildings in their area which they believe provide an important service to that community. This can include public houses, libraries and local shops amongst others, although excluding residential premises, operational land or land for which a site licence is required. As an example, current statistics from CAMRA show that 15% of pubs in Norfolk are listed as ACV's. A listing can affect the disposal of an asset as well as its development, and therefore it is important for owners of ACV's to understand the process and possible implications.

In order to become an ACV the asset must be nominated by a qualifying community group. The Local Authority then has 8 weeks to make a decision and if successful, the asset must be added to a register of ACV's and relevant parties informed. The owner can appeal the Authority's decision, and claim for compensation if it is determined that the listing has had a detrimental effect on the value of the property. It is important to note that ACV listings are not permanent and must be removed no later than 5 years from date of entry on the list.

Owners of ACV's must inform the Local Authority if they wish to sell their asset. This triggers an initial six week moratorium in which community groups may express interest. If interest is received, a full six month moratorium follows, to allow the community group to put a bid together. An ACV listing does not give the community group a right to buy, and the owner is able to negotiate a sale with a preferred buyer during the period. In this instance, the sale cannot conclude until the end of the moratorium. 

A moratorium is not triggered if an ACV is disposed of as a Transfer of Going Concern. This was often used as a loophole, especially with sales of pubs, to enable permitted development rights to convert to residential use. A statute passed in 2015 now prevents this and requires that any change of use on an ACV needs full Planning Permission.

The designation of ACV's is now an accepted consideration in dealing with property in which there is a potential community interest, with local shops and pubs being the most frequently listed commercial properties. Awareness of the legal and valuation implications is vital to avoid pitfalls and surprises during proposed transactions.

Chloe Green

July 2017

Roche retain major commercial property awards

Roche retain major commercial property awards

Roche retain title as Norfolk's most active firm for fifth year in succession .... 

July 2017

Roche retain major commercial property awards

Norwich-based commercial property consultants, Roche Chartered Surveyors has retained its title as Norfolk's most active firm for the fifth year in succession, in the commercial property sector's leading awards.  The title is awarded by the Estates Gazette for the firm conducting the most transactions across all sectors of the commercial property market and has now been won by Roche every year since its inception in 2013.

The Norfolk award follows Roche's success in retaining the Estates Gazette's regional award as the East of England's leading firm in the retail sector, again based on the number of transactions arranged during the year, for an impressive 7 years in succession.

To cap Roche's success, one of the firm's partners, Sam Kingston, won the Dealmaker Award for the individual involved the most transactions throughout 2017, the third member of the Roche team to receive this accolade in recent years.

James Allen, Senior Partner of Roche Chartered Surveyors, commented "The Estates Gazette Awards are widely acknowledged in commercial property as being market-leading and are a reliable reflection of activity during the past year.  We are therefore extremely proud and pleased to have retained our title as Norfolk's most active firm and the regional retail crown.  The Awards reflect a huge amount of effort by everyone in the firm and the extent of our activities in all the main commercial sectors including retail, leisure, offices, industrial and warehousing.  Sam Kingston's individual Award is thoroughly deserved. We are finding that 2017 is proving to be another busy year."

James Allen

July 2017

NORWICH - Unit 2, 1-7 St Stephens Road, NR1 3SP

NORWICH - Unit 2, 1-7 St Stephens Road, NR1 3SP

Roche Retail let Unit 2, 1 - 7  St Stephens Road, Norwich, NR1 3SP to 'Margaret Emms' florist ...... 

July 2017

NORWICH - Unit 2, 1-7 St Stephens Road, NR1 3SP

 

Roche Retail acting on behalf of Associated British Ports Pension Fund have let Unit 2, 1 - 7  St Stephens Road, Norwich, NR1 3SP to 'Margaret Emms' florist, that has been established in Norwich for 55 years. This is a relocation from the florists' existing shop in Norwich and provides them with  the extra space that is needed to facilitate their expansion.

The shop comprises a total ground floor area of 929 sq ft.  Margaret Emms took a new 10 year lease at an initial rent of £13,500 pax.

Lloyd Perry of Roche Retail commented that "The shop was an important letting for the local area and is in a highly prominent and  prime location on the busy inner ring road where the junction of St Stephen Street meets St Stephens Road and directly opposite Wilko.

July 2017

21 and 22 Kingsway, City Trading Estate, Norwich, NR2 4UD

21 and 22 Kingsway, City Trading Estate, Norwich, NR2 4UD

Roche let two adjacent units to The Theatre Royal and K Foley Ltd ......    

May 2017

21 and 22 Kingsway, City Trading Estate, Norwich, NR2 4UD

Acting on behalf of Clipstone Industrial Trust, Roche have recently let two adjacent units of 2,370 sq ft, to separate occupiers - The Theatre Royal and K Foley Ltd. The properties had recently been refurbished and were let within 6 months of coming to the market at new record rents for the location , in the region of £7.00 per sq ft.

Sam Kingston, acting on behalf of the landlord commented "This edge of city location attracted a high degree of interest and the landlord was able to consider the most appropriate occupiers for the estate. Interest levels for good quality trade counter and industrial units remains buoyant , especially where they have been well maintained".

May 2017

Cringleford Business Centre in Norwich attracts Three New Tenants

Cringleford Business Centre in Norwich attracts Three New Tenants

Trio of new tenants occupy Cringleford Business Centre ......

May 2017

Cringleford Business Centre in Norwich attracts Three New Tenants

A trio of new tenants have taken occupation at the successful Cringleford Business Centre situated on the south side of Norwich at Intwood Road, NR4 6XB. The lettings were arranged by Roche Chartered Surveyors, the Norwich commercial property specialists.

Cambridge Community Services, an NHS Trust, has leased Suite 3 extending to 4,183 sq ft as an administrative base from which to run its local services.  

Stable Pilates has moved into Suite 4 and has created a 2,221 sq ft studio, having relocated from Colney Hall. 

Expanding recruitment consultants, Just Recruitment Solutions have moved from Ketteringham Hall into Suite 8B of 1,095 sq ft at Cringleford.  

"These latest lettings reflect the continued demand for office accommodation with parking on the south side of Norwich.  Over many years, Cringleford Business Centre has maintained its popularity by providing flexible and economical terms, having the significant benefit of being very close to the A11 and the A47 southern bypass.  We have further new lettings in the pipeline," commented James Allen of Roche Chartered Surveyors who acts for the owner of Cringleford Business Centre.

May 2017

Party Wall Award - 17/19 Cathedral Street, Norwich NR1 1LU

Party Wall Award - 17/19 Cathedral Street, Norwich NR1 1LU

Roche have acted as Party Wall Surveyors for property owners in Cathedral Street, Norwich ...... 

May 2017

Party Wall Award - 17/19 Cathedral Street, Norwich NR1 1LU

Roche Chartered Surveyors have acted as Party Wall Surveyors for the owners of neighbouring properties on Cathedral Street in Norwich.

The properties are two neighbouring Victorian terrace buildings with extensions to the rear which total around 1,600 sq. ft. each. The owners of Number 19 wished to carry out substantial alterations to their building in order to convert it into two residential properties. The design involved a number of items that are classed as 'works to a party wall' under the Party Wall etc. Act 1996.

Roche Chartered Surveyors were approached by the owner of Number 17 who had received notice of the proposed works from the owner of Number 19. Through negotiation it was agreed that Roche would act as Agreed Surveyors for both parties to advise on the rights and the requirements of The Act.   This culminated in a Party Wall Award which formally documented the works to be done and method to be undertaken.

The aim of the award is to protect both parties against claims for damage and prevent nuisance by agreeing how and when the works are undertaken.  Roche's Chartered Building Surveyor responsible for the project, David Hall MRICS, commented "It is essential when undertaking work on Party Walls or boundaries to seek professional advice. This instruction proves that with the right approach the agreement does not have to be confrontational and serves to protect all parties involved." 


May 2017

New tenants at Wensum Mount Business Centre, Low Road, Norwich, NR6 5AQ

New tenants at Wensum Mount Business Centre, Low Road, Norwich, NR6 5AQ

Roche have recently let two office suites at the successful Wensum Mount Business Centre ...... 

May 2017

New tenants at Wensum Mount Business Centre, Low Road, Norwich, NR6 5AQ

Roche Chartered Surveyors, the Norwich-based property consultants and commercial letting agents, have recently arranged lettings of two office suites at the successful Wensum Mount Business Centre on the north-west side of Norwich, NR6 5AQ.

Lewis Jarrett, financial services consultant, has leased Suite 7 which extends to 1,162 sq ft and was been offered at a rent of £14,000 per annum.  FCMH Group Limited has recently moved into Suite 8 which extends to 726 sq ft which was being offered at £8,750 per annum. 

"Wensum Mount Business Centre provides excellently converted and well-maintained office accommodation with superb facilities. The location has the tranquillity of a rural setting yet is in easy reach of Norwich Airport and the outer ring road," commented James Allen of Roche Chartered Surveyors who dealt with the lettings.  "We have another new tenant moving to the Business Centre in June, at which point it will be fully occupied, underlining the current strong demand for office premises with parking around the end of Norwich," he added. 


Roche Chartered Surveyors are also the managing agents for Wensum Mount Business Centre.

May 2017

30 St Benedicts Street, Norwich NR2 4AQ

30 St Benedicts Street, Norwich NR2 4AQ

Roche Retail have let 30 St Benedicts Street, Norwich to 'Marsden Leveridge' ...... 

May 2017

30 St Benedicts Street, Norwich NR2 4AQ

Roche Retail acting on behalf of Managed Property Supply Ltd have let 30 St Benedicts Street, Norwich to 'Marsden Leveridge' a hairdressers. This is their first shop they have opened and they chose St Benedicts Street as it fitted their customer profile.

The shop comprised a total floor area of 932 sq ft arranged over the ground floor and basement. Marsden Leveridge took a 15 year lease at an initial rent of £12,000 pax.

Lloyd Perry of Roche Retail commented that "The shop attracted a significant amount of interest due to its location within the historic Norwich Lanes along with its aesthetically pleasing shop frontage. This entailed Roche Retail receiving multiple offers and from this they were able to advise on the most appropriate occupier for the shop and location".

May 2017

Roche Win Top Regional Agent Award

Roche Win Top Regional Agent Award

Roche awarded the prestigious Estates Gazette "Most Active Agent Award for East Anglia" in the Retail category  ...

April 2017

Roche Win Top Regional Agent Award

Roche have been awarded the prestigious Estates Gazette "Most Active Agent Award for East Anglia" in the Retail category. This marks the seventh year running   Adrian Fennell, Head of Roche Retail, said that he was delighted that Roche has yet again won this prestigious award representing the whole of East Anglia and it reflects the hard work the retail department have put into getting deals across the line in a very exacting marketplace"

These awards are given annually by the Estates Gazette to recognise the top commercial surveyors across the country, and are widely regarded as being a reliable reflection of activity during the past year. The award underpins yet another extremely successful year for Roche.

April 2017

Refurbished Norwich Industrial building let to Major Engineering Company

Refurbished Norwich Industrial building let to Major Engineering Company

Roche has arranged letting of a significant industrial building at Burton Road Business Park, NR6 6AX ......

April 2017

Refurbished Norwich Industrial building let to Major Engineering Company

Commercial property consultants and agents, Roche Chartered Surveyors has arranged the letting of a significant industrial building at Burton Road Business Park, NR6 6AX, on the north side of Norwich.   The property known as Norwich Coachworks and previously occupied by Harford Engineering has been virtually re-built by Harber Properties Limited over the last year.  It provides 16,760 sq ft (1,557 sq m) of refurbished space which has been let to Eriks Industrial Services Ltd, the national engineering services company which will be creating an enlarged regional hub for its business throughout East Anglia.  

The refurbishment of this building forms part of a programme of reinvestment on the Burton Road site, with lettings of other buildings also imminent.  These works follow Harford's relocation from the site. 

Unit 2 at Burton Road has been taken back to its steel frame before being virtually re-built and therefore provides effectively a new building in an established industrial area which, like all locations on the north side of Norwich, will benefit significantly from improved accessibility when the Northern Distributor Road opens in the next 12 months.  Harber Properties have shown great confidence in the Norwich industrial market, which is very strong at present and this has been rewarded in securing an international company of the calibre of Eriks.  There is an acute shortage of buildings of this size and we are aware of several established companies with current requirements," commented James Allen of Roche Chartered Surveyors who acted for Harber Properties in the transaction.

 

 

 

 

April 2017

The Playhouse Theatre, 42-58 St Georges St, Norwich NR3 1AB

The Playhouse Theatre, 42-58 St Georges St, Norwich NR3 1AB

Roche complete a Building Survey of The Playhouse Theatre and Bar, Norwich ............ 

April 2017

The Playhouse Theatre, 42-58 St Georges St, Norwich NR3 1AB

Roche Chartered Surveyors have completed a Building Survey of The Playhouse Theatre and Bar on behalf of The Playhouse Trust.

The property encompasses a range of buildings including an historic Georgian maltings which was converted in 1995 to form a 300 seat riverside theatre, offices, and a modern bar with a large external seating area. The property totals around 1,270 sqm (13,700sqft) and includes a number of different ages, construction types and uses.

The building survey provided the client with detailed advice on the current condition and projected maintenance requirements of the property over the coming years. This involved inspecting and reporting on all aspects of the property including the historic building fabric and modern extensions and alterations. Roche engaged specialist engineers to advise on the mechanical and electrical installation and oversaw the project to provide the client with clear concise information regarding the repair and maintenance requirements and associated costs.

The aim of the survey was to allow the Trust to gain a comprehensive picture of the current condition of the property and allow the client to forecast their future maintenance costs. Roche's Chartered Building Surveyor responsible for the project, David Hall MRICS, commented "It is essential for any organisation that owns or is responsible for property to properly budget for its upkeep and repair. Timely repair of buildings provides substantial savings in the long run by preventing unnecessary damage" 

April 2017

21 St Benedicts Street, Norwich NR2 4PF

21 St Benedicts Street, Norwich NR2 4PF

Roche Retail acting let 21 St Benedicts Street, Norwich to 'One Life Left' ..... 

April 2017

21 St Benedicts Street, Norwich NR2 4PF

Roche Retail acting on behalf of Broadland Housing Group have let 21 St Benedicts Street, Norwich to 'One Life Left' which is a video games themed café. This is their first shop they have opened and decided upon St Benedicts Street due to its eclectic mix of independent retailers and restaurants.

The shop comprised a ground floor area of 889 sq ft and 'One Life Left' took a 5 year lease at an initial rent of £16,000 pax.

Lloyd Perry of Roche Retail commented that "The shop was a positive letting for St Benedicts Street as it complements the already existing users along the street and offers an alternative and bespoke experience for the gaming market".

April 2017

ROCHE INSTRUCTED TO SELL REDUNDANT GREAT YARMOUTH HELIPORT

ROCHE INSTRUCTED TO SELL REDUNDANT GREAT YARMOUTH HELIPORT

The North Denes Airfield at Caister Road, Great Yarmouth has been put up for sale .......

March 2017

ROCHE INSTRUCTED TO SELL REDUNDANT GREAT YARMOUTH HELIPORT

The North Denes Airfield at Caister Road, Great Yarmouth, NR30 5TF has been put up for sale.  The site was used as a base for helicopters serving oil and gas platforms in the Southern North Sea for many years but has not been operational for the last two years, owing to a decline in business and relocation to Norwich.

The 60.5 acre (24.5 hectare) site includes two hangars, a terminal building, offices and storage accommodation, as well as an air traffic control facility.  The buildings total around 33,445 sq ft ( 3,107 sq m) of accommodation.  Apart from roadways and the concrete helicopter landing areas, the majority of the site is un-surfaced, with two grassed runways.   The site has a long frontage to Caister Road, adjacent to Great Yarmouth Stadium.

Roche Chartered Surveyors of Norwich have been instructed to handle the sale and are seeking expressions of interest and offers in the site as a whole, or for parts of it.

'We anticipate that the site will generate a lot of interest from a wide range of potential occupiers and developers', commented James Allen of Roche Chartered Surveyors.   "The site clearly has potential for continued aviation use but the prospects of this seem unlikely and therefore alternative commercial uses and development are likely to be the focus of interest in the site.  The input of Great Yarmouth Borough Council, as planning authority, is being sought and will be a factor in deciding the future ownership and use of this significant site," he added. 

For further information please contact James Allen.

March 2017

DEREHAM - 16/18 High Street, NR19 1DX

DEREHAM - 16/18 High Street, NR19 1DX

Roche have sold the former Job Centre .... 16/18 High Street, Dereham ....... 

March 2017

DEREHAM - 16/18 High Street, NR19 1DX

Roche Chartered Surveyors have recently sold the former Job Centre situated at 16/18 High Street, Dereham, NR19 1DX. The property is arranged over ground floor only and extends to 6200 sq ft, with  car parking to the rear. The freehold  was sold for close to the asking price of £350,000 to a local business that will use the premises for office use. Sam Kingston of Roche commented " It is good to see the property being sold to an owner occupier for continued office use as it shows confidence in the Dereham office market. Although Roche received  strong interest from leisure users, a sale to an office occupier was the most straight forward option". Roche Acted on behalf of the freeholder, Telereal Trillium.

 

 

March 2017

APC Assessor

APC Assessor

RCS now have an accredited Royal Institution of Chartered Surveyors (RICS) APC assessor .......

February 2017

APC Assessor

Roche Chartered Surveyors now have an accredited Royal Institution of Chartered Surveyors (RICS) APC assessor. David Hall, a Chartered Building Surveyor at Roche recently completed his assessor training at the headquarters of the RICS in Parliament Square, Westminster.

All Chartered Surveyors are required to go through the Assessment of Professional Competence (APC) in order to become Chartered. The assessment requires submission of a number documents including a case study following a period (usually 24 months) of structured training. The candidate is then interviewed by a panel of assessors to test their knowledge and understanding of best practice.

Having a trained APC assessor at Roche will be of benefit to the firm as a whole in helping keep up to date in regulatory compliance, and will be a great advantage in assisting Roche's graduates through the APC process.    

David Hall, Building Surveyor

 

February 2017

Property Markets set to be impacted by Energy Regulations

Property Markets set to be impacted by Energy Regulations

A key aspect of the Government's Energy Act 2011 is the Minimum Energy Efficiency Standards (MEES) Regulations .......

February 2017

Property Markets set to be impacted by Energy Regulations

A key aspect of the Government's Energy Act 2011 is the Minimum Energy Efficiency Standards (MEES) Regulations that come into force on 1st April 2018. The regulations will have a wide ranging impact for the commercial property market across the region. 

MEES will apply to all privately rented property in England and Wales which currently requires an Energy Performance Certificate (EPC). The regulations will make it an offence to:

From 1st April 2018, let a property with an EPC rating of less than 'E'. This will apply to new leases, lease renewals, lease extensions and under letting.

From 1st April 2020, continue to let a residential property with an EPC rating of less than 'E'.

From 1st April 2023, continue to let a commercial property with an EPC rating of less than 'E'.

There are variety of exemptions but Landlords must register them to avoid enforcement action. Exemptions are only valid for 5 years and cannot be transferred between landlords if the property is sold.

It is estimated that around 20% of privately rented property is currently sub-standard with the office market particularly affected with around 23%. Landlords holding properties with sub-standard EPC ratings will be unable to generate rental income and may have to incur the expenditure of making improvements. It will be difficult to attract high quality tenants for sub-standard property with market value of such assets being negatively affected.

The changes will also affect tenants looking to sub-let space, assign their lease or carry out works that might require a new EPC to be carried out.  Fines are substantial with minimum fines set at £5,000 and the maximum £150,000.

Landlords and investors should be auditing their portfolios now to check which properties are affected by MEES and whether exemptions could apply. They should be carrying out energy assessments to check whether their current EPC ratings are correct and whether any work is required to sub-standard properties. Tenants and landlords should review leases to understand their rights and plan ahead so that renewal dates and planned works can be aligned to reduce additional costs. We are advising many clients who are already responding pro-actively to the impending regulations and finding that cost-effective and practical solutions are generally available.

 

February 2017

NORWICH - 112/114 Prince of Wales Road, NR1 1NS

NORWICH - 112/114 Prince of Wales Road, NR1 1NS

Roche Retail have surrender KFC leasehold interest in 112/114 Prince of Wales Road .....

February 2017

NORWICH - 112/114 Prince of Wales Road, NR1 1NS

Roche Retail acting on behalf of KFC have surrender their leasehold interest in their former restaurant at 112/114 Prince of Wales Road, Norwich, NR1 1NS to the landlord, MCR Property Group. The restaurant comprises a total of 5,000 sq ft and the passing rent was £25,000per annum exclusive. The landlord is currently undertaking a major redevelopment of the former offices above, known as Grosvenor House, into residential accommodation.

 

February 2017

NORWICH - 1 Royal Arcade, NR2 1NQ

NORWICH - 1 Royal Arcade, NR2 1NQ

Roche Retail have let 1 Royal Arcade to Scribbler ......   

February 2017

NORWICH - 1 Royal Arcade, NR2 1NQ

Acting on behalf of Legal & General, Roche Retail have let 1 Royal Arcade in Norwich, NR2 1NQ to Scribbler for their second shop in East Anglia, bringing the total number of outlets to 35, mainly situated in the South East of England. The shop forms an important gateway entrance into the Royal Arcade that houses an eclectic mix of national and independent retailers. Legal and General undertook a major refurbishment of the Grade II listed 1,500 sq ft property which fronts on to Gentleman's Walk, the principal retail thoroughfare in Norwich. Adrian Fennell of Roche Retail commented that "the letting was another example of Norwich's very high ranking in the national retail hierarchy that was continuing to draw new retailers to the city, thus ensuring its vibrancy and growth"

 

February 2017

Norwich office building sold for conversion

Norwich office building sold for conversion

Roche has arranged sale of 27 Yarmouth Road, Norwich ......... 

February 2017

Norwich office building sold for conversion

The Norwich commercial property agents and consultants, Roche Chartered Surveyors, has arranged the sale of a freehold office building at 27 Yarmouth Road in Norwich on behalf of R G Carter Holdings.  The prominent building in Thorpe was previously occupied by two of Carter's subsidiaries, Eyre Electrical and Sonata Security who have expanded into other Group premises.

The property is located close to the centre of Thorpe St Andrew in a popular residential area and the purchaser has obtained consent for conversion to residential under Permitted Development Rights. The approved scheme shows the two storey building of 6,756 sq ft (628 sq m) being converted into 14 flats. The property was being marketed at an asking price of £525,000. The purchaser was Yarmouth Road Project Limited, part of Estateducation Limited. 

"Over the last two years, following the introduction of the expedited planning procedure under Permitted Development Rights, there has been a marked trend of disused office buildings being purchased for residential conversion in both the city centre and in suburban locations.The property in Yarmouth Road is well located for the city centre and Thorpe with the upper floor having fantastic views over the river valley so it is no surprise that it is being sold for residential conversion, despite the very strong demand from office owner-occupiers at the present time", commented James Allen of Roche Chartered Surveyors who handled the sale as joint agent for R G Carter Holdings.

 

 

February 2017

Wymondham - 2 Ayton Road, NR18 0QH

Wymondham - 2 Ayton Road, NR18 0QH

Roche have let 2 Ayton Road, Wymondham, NR18 0QH ...........  

January 2017

Wymondham - 2 Ayton Road, NR18 0QH

Roche Chartered Surveyors, acting for Peter Colby Commercial have recently let 2 Ayton Road, Wymondham, NR18 0QH. The property is a self-contained workshop with extensive yard. The property was only marketed for a short period of time and there was a strong level of interest. The property extends to 4,500 sq ft and sits on an acre yard. The asking rent was £45,000 per annum exclusive and the lease completed at close to this level. Sam Kingston of Roche surveyors comment's " Wymondham is a popular industrial location, with good access to the  A11 and within close proximity to Norwich, serving a wide catchment area".

 

January 2017

Ipswich - 24 The Thoroughfare

Ipswich - 24 The Thoroughfare

Roche Retail have let 24 The Thoroughfare to 'Ohh Deer' .......

January 2017

Ipswich - 24 The Thoroughfare

Roche Retail acting on behalf of Columbia Threadneedle have let 24 The Thoroughfare, Ipswich to 'Ohh Deer' a  quirky illustrated gift company. This is their second shop they have opened in the UK and are expecting to open more in the future.

The shop comprised a total floor area of 650 sq ft arranged over the ground floor. 'Ohh Deer' took a 5 year lease at an initial rent of £20,000 pax.

Adrian Fennel of Roche Retail commented that "The shop was an important letting for The Walk and The Thoroughfare as it is located  on the Buttermarket entrance to the shopping street linking through to Tavern Street, which are the two primary retail thoroughfares in Ipswich. The new tenants use will complement the existing users in The Walk and The Thoroughfare, which has recently undergone an extensive refurbishment".

January 2017

Norwich - 1 Royal Arcade

Norwich - 1 Royal Arcade

Roche Retail have let 1 Royal Arcade to Scribbler .......  

January 2017

Norwich - 1 Royal Arcade

Acting on behalf of Legal & General, Roche Retail have let 1 Royal Arcade, NR2 1NQ to Scribbler. The unit fronts onto Gentleman's Walk and comprises a total of over 1,500 sq ft. Scribbler currently have 34 shops, primarily in London and the South East and Norwich represents their second outlet in East Anglia joining Cambridge.

Adrian Fennell of Roche Retail commented that the letting was very important for the Royal Arcade and that Legal & General had been particularly selective in securing a suitable 'Gateway' retailer at the entrance to the Royal Arcade and being Scribbler's first unit in Norwich, it adds an additional appeal to Norwich's retail mix.

 

January 2017

23 St Benedicts Street, Norwich NR2 4PF

23 St Benedicts Street, Norwich NR2 4PF

Roche Retail have let 23 St Benedicts Street, Norwich to 'Farmyard' .... 

November 2016

23 St Benedicts Street, Norwich NR2 4PF

Roche Retail acting on behalf of Broadland Housing Group have let 23 St Benedicts Street, Norwich to 'Farmyard' a high end bistronomy style restaurant. This is their first restaurant they have opened and they chose Norwich as they are local to the area and wanted to source all their produce from the county.

The restaurant comprises a total ground floor area of 1,269 sq ft. 'Farmyard' took a 15 year lease at an initial rent of £25,000 pax.

Adrian Fennel of Roche Retail commented that "The restaurant was an important letting for St Benedicts Street as it adds an alternative eatery to the ever improving street that forms part of the Norwich Lanes which is renowned for its strong mix of eclectic retail and restaurant operators ". 

November 2016

Briefing Note on Business Rates - July  2016

Briefing Note on Business Rates - July 2016

The Background .... Business rates are a tax on the occupation of non-domestic property ..... 

September 2016

Briefing Note on Business Rates - July 2016

The Background:

  • Business rates are a tax on the occupation of non-domestic property.
  • Since 1.4.1990 a rating list has been prepared on a 5 yearly basis except for the most recent revaluation which was delayed from 1.4.2015 to 1.4 .2017.
  • The rateable value of each property is assessed by the Valuation Office Agency (VOA) and it is an estimate of the annual rent that would be paid for the property at a fixed date, which has always been 2 years prior to the beginning of the list, thus the most recent revaluation is effective from 1.4.2017 but with the actual valuation date being 1.4.2015. Summary valuations will be available on the VOA Website on 30.9.16.
  • Rating assessments can be altered subsequently to any revaluation either to reflect changes in the property or if a valuation is appealed against.
  • Local Authorities apply a multiplier to obtain the actual rates payable. This is known as the Uniformed Business Rate (UBR). There has been and will continue to be, a differential between the UBR as applied to the rateable values of small and larger properties.

Changes with effect from 1 April 2017:

  • With effect from 1.4.2017, small businesses who occupy premises with a rateable value of below £12,000 (up from £6,000) will pay no business rates at all. This is known as the small business rates relief scheme (SBRR). It is estimated, over 600,000 businesses will benefit from this change.
  • There is tapered relief which will be implemented for rateable values between £12,000 and £15,000.
  • With effect from 1 April 2017 the lower UBR for smaller properties will be applied to those having a rateable value of below £51,000. Previously the upper limit was £18,000, thus taking probably another 250,000 smaller properties out of the higher rate UBR multiplier.
  • It is estimated that over half of all business rate payers will see a fall in their business rates or will not pay any business rates at all from 1 April 2017.
  • All of this may be subject to transitional relief.
  • UBR rates are increased with inflation with the current multiplier being in line with the Retail Price Index (RPI). However from 1 April 2020 this will move to the Consumer Price Index (CPI). This will bring business rates in line with a main measure of inflation and it is estimated businesses will save £370M in the first year alone.
  • However the downside is, this saving will have to be paid for elsewhere and it is estimated the UBR for properties having a rateable value in excess of £51,000 will increase from 1.4.2017.
  • It is also suggested the Government may introduce 3 yearly revaluations of premises which if this is implemented will mean the next revaluation after 2017 will be with effect from 1 April 2020, thereby effectively restoring the previously anticipated revaluation date of 2020, being 5 years on from 2015. 
  • The provisional UBR for the 16-17 year should be issued in December 16 with the actual UBR set in early February 17.

Rating Reliefs

  • SBRR is applicable if only one property is occupied and the rateable value is less than £12,000. Please see above. This relief has to be applied for on an annual basis.
  • If an occupant occupies multiple properties, each may be eligible for a small business rates relief if the rateable value of each of the other properties is less than £2,600. The rateable values of these properties are added together and relief applied to the main property.

Charitable Rate Relief

  • If a property is used for charitable purposes, an application can be made for relief of at least 80% but this is at the discretion of the billing authority. Eligible users include not only charities but also amateur community sports clubs. The building must be wholly or mainly used for charitable purposes.

Enterprise Zone Relief

  • Up to 100% business rate relief can be achieved, again at the discretion of the Billing Authority, up to a maximum of £275,000 over a 5 year period.
  • Enterprise zones in East Anglia include:
    • Norwich Research Park, Norfolk
    • Suffolk Business Park, Bury St Edmunds
    • Scottow Enterprise Park, Coltishall 
    • Egmere Business Zone, Nr Wells
    • Greater Ipswich, Suffolk
      • Futura Business Park
      • Princes Street Office District
      • Sproughton Enterprise Park
      • Waterfront Island
    • Nar Ouse Business Park, King's Lynn, Norfolk
    • Stowmarket Enterprise Park, Suffolk
    • Great Yarmouth and Lowestoft Enterprise Zone

Retail Relief

  • Some Local Authorities offer rate relief up to a £1,000 for businesses occupying a retail property with a rateable value of up to £50,000. Eligibility parameters are the premises must be used as a shop, restaurant, café or drinking establishment and the relevant Local Authority should be contacted.
  • Breckland Council are operating their own scheme for Dereham for 12 mths and up to 80% relief may be available.

Empty Buildings Relief (EBR) (aThis element is subject to review)

  • All commercial properties can receive EBR. All commercial properties can obtain EBR for a minimum of 3 months and this period can be extended, in the case of industrial/warehouse premises for a further 3 months. In addition there are premises which are exempt until reoccupied and these are as follows: 

 

  •  
    • Listed Buildings
    • Buildings with the rateable value of less than £2,600.
    • Properties owned by charities and which are likely to be next used for charitable use.
    • Community Amateur Sports Club Buildings, if the building is likely to be used as a sports club.

 

  • Whilst changes of ownership do not trigger a fresh 3 or 6 months exemption, as the exemption applies to the property and not the person paying the rates, there is some relief from this by way of short term occupation of the property of at least 42 days and this can be organised on a cyclical basis.  It is advisable to inform the Local Billing Authority each stage of change.

The property can be removed from the Local Rating list if it is not capable of beneficial occupation, that is as a broad brush approach, the building is in a very poor condition and not could not be economically repaired or is undergoing major renovation works or if the property is demolished or undergoing redevelopment.

  • It is worthy of note, none of these reliefs apply until the owner occupier applies to the VOA for the property to be removed.

This information may be subject to change at any time so please check all information before applying it to your situation.

Current Issues

  • Rating liability whilst ongoing building works are being undertaken now falls to be decided having regard to the Court of Appeal case of Newbiggin (VO) v SJ & J Monk 2015 where the Court has ruled that rates will be payable unless a vacant building is beyond economic repair. 
  • Of significance, the case states that "the mere fact that the ratepayer intends to produce at some future date a building which will be different in kind from that which exists on the valuation date cannot determine whether or not the hereditament can or cannot be put into a state of reasonable repair at economic cost on the valuation date itself." 

  • The current authority for the economic test is now Thomas & Davies (Merthyr Tydfil) Ltd v Susan Jennifer Denly (VO) Upper Tribunal (Lands Chamber).

  • If works of refurbishment are being undertaken, this suggests, the works are economic & therefore it is unlikely the VOA will delete/reduce the assessment to nil.

  • The matter is to be put before the  Supreme Court later this year.  Pending this, it is advised appeals are submitted on the grounds of Material Change in Circumstance.  The appeal must be made during the period of the works.

 

  • The Woolway case concerned whether the 2nd and 6th floors of Tower Bridge House in London formed one hereditament or two.  The Supreme Court decided following a careful examination of established legal principles that each floor formed its own hereditament.  It set out clear tests for establishing the hereditament. 

     

    • Geographic test - are the premises evidentially a single unity on plan, horizontally and/or vertically?  Are they separated by a common area or are they connected directly?

    • Functional Test - This is likely to be an exceptional situation whereby the use of one is necessary to the effectual enjoyment of the other.

    • Occupation - There must be actual occupation, exclusive to the possessor, possession must be of value to the possessor and possession must not be for a transient period.

    • Functionality - Whether or not the various uses within the assessment are so very different as to enable 2 assessments to be made eg. York Union Case - York Railway Station rated as one, but comprised station and hotel, thus 2 different uses.

    • Capable of Separate ~Definition - The property must be able to be defined.

       

September 2016

Norwich - 28 London Street, NR2 1LD

Norwich - 28 London Street, NR2 1LD

Roche Retail advise private clients in the purchase of 28 London Street ........   

May 2016

Norwich - 28 London Street, NR2 1LD

Roche Retail have advised private clients in connection with the purchase of the freehold investment of 28 London Street in Norwich where the principal tenant is White Stuff that are paying a rent of £105,000 per annum exclusive.

The property is situated at the junction of London Street and Castle Street and represents a 100% prime position for this increasingly popular location for fashion retailers where Jigsaw, Cath Kidston, Crew Clothing, Gap, Joules, Dr Martens and Moda in Pelle are all represented.

Adrian Fennell, the Partner responsible for the retail department commented that 'our client was delighted to secure this prime retail investment where there is strong rental growth anticipated in a city centre that has been ranked as the 2nd Hottest Retail Location in the UK (CACI 2015).

May 2016

Norwich - 11/17 Bank Plain, NR2 4SF - A trio of new lettings

Norwich - 11/17 Bank Plain, NR2 4SF - A trio of new lettings

Roche Retail complete three new shop lettings on Bank Street to estate agents ......

May 2016

Norwich - 11/17 Bank Plain, NR2 4SF - A trio of new lettings

Roche Retail have recently completed three new shop lettings on Bank Street to estate agents, Century 21 and BMA Estates, along with financial services firm Charles Derby Group.

The three shops are all arranged over ground floor only and range in size  between 718 sq ft and 981 sq ft, totalling 2,666 sq ft. All the occupiers took new 5 year leases.

Lloyd Perry of Roche Retail commented that "This is encouraging news for Norwich's residential market, demonstrating its buoyancy and establishes a concentration of residential estate agents and related services within close proximity to each other."

Roche have strong interest in the remaining unit at 15 Bank Plain that comprises 967 sq ft.

March 2016

 

May 2016

Ipswich, 40A Westgate Street, IP1 3ED

Ipswich, 40A Westgate Street, IP1 3ED

Roche Retail has let 40A Westgate Street, Ipswich to 'The Stylers' .......

April 2016

Ipswich, 40A Westgate Street, IP1 3ED

Roche Retail has let 40A Westgate Street, Ipswich to 'The Stylers', a unisex hairdresser with 11 salons in the UK and which has the expectation of expanding.

The shop comprises a total floor area of 2,106 sq ft arranged over 3 levels. The Stylers took a new 10 year lease at an initial rental of £15,000 pax.

Lloyd Perry of Roche Retail commented that "This a positive retail let for Ipswich as it is another addition to the top end of Westgate Street, which is one of Ipswich's primary retail thoroughfares and which has recently seen the enlarged Primark open."

April 2016

Newmarket - The Guineas - a trio of new lettings!

Newmarket - The Guineas - a trio of new lettings!

Roche Retail complete three new shop lettings in The Guineas Shopping Centre .......

February 2016

Newmarket - The Guineas - a trio of new lettings!

Roche Retail have recently complete three new shop lettings in The Guineas Shopping Centre to retailers, Pandora, CEX and Boots Opticians, which now means the shopping centre is fully let.

The Guineas Shopping Centre in Newmarket comprises a total of 110,000 sq ft with 46 retail units, having a mix of multiple retailers including Marks & Spencer, Argos, Poundland and Superdrug, but also strong independents such as The Pantry, Newmarket Sports and Peters Opticians.

Adrian Fennell of letting agents, Roche Retail, commented on the very positive effect that the three new retailers are having to Newmarket, adding to the retail vibrancy of The Guineas and encouraging new consumers to Newmarket. As a result there is a growing list of quality retailers looking to gain representation in The Guineas.

February 2016

Roche recognised for industrial space expertise

Roche recognised for industrial space expertise

Roche recognised for industrial space expertise by the Estate Gazette ......

February 2016

Roche recognised for industrial space expertise

Roche Surveyors have been recognised for their expertise in industrial space recently by the Estate Gazette. In the bi-annual industrial focus Roche were ranked as the second most active agent in the East of England for industrial property, outperforming a number of multi office businesses covering a far wider geographical area. Over the first 6 months of 2015 Roche transacted in 286,500 sq ft of warehousing and industrial accommodation.

Sam Kingston of Roche commented" it is pleasing to see our market knowledge and high level of instructions have placed us as the second most active agent across a wide geographical area. We are involved in a number of the largest transactions in Norfolk and beyond and the percentage of the market share we have is far greater than many of our larger competitors and our expertise is recognised by our clients". Notable transactions have included the sale of Caley Close a 133,000 sq ft warehouse to Peter Colby Commercials and the letting of a 30,000 sq ft warehouse at Vulcan Road, Norwich to Tuffnells, the parcel delivery business.

This award dovetails well with the EG's most active Norfolk Agent which Roche have held for the last 3 years.

 

February 2016

Roche Sell High Profile Office Investment in Great Yarmouth

Roche Sell High Profile Office Investment in Great Yarmouth

Roche recently acted in the sale of one of the most iconic office buildings in Great Yarmouth ......

February 2016

Roche Sell High Profile Office Investment in Great Yarmouth

Roche Chartered Surveyors have recently acted in the sale of one of the most iconic office buildings in Great Yarmouth. Seajacks House, along with the adjacent warehouse, has been sold on behalf of Chaldean Properties, the original developer to an overseas investor. Seajacks is an internationally recognised business that own and operate specialist  ships dealing in the renewable and oil and gas markets.

Seajacks House at South Beach Parade, NR30 3QR comprises a 12,000 sq ft office with adjacent warehouse of 10,000 sq ft, both constructed in 2012. The property attracted a high level of interest and was sold for £3,000,000 reflecting a yield of 8.7%.

Sam Kingston of Roche commented " We were delighted to be instructed to sell this investment and were confident that a swift sale would materialise. Great Yarmouth remains an important location for the off shore oil, gas and renewables market. The property was keenly priced to ensure there was strong interest and this was justified with a number of offers close to the asking price and it shows that knowledge of both the local property market and investor appetite is key to selling high value investments"

February 2016

Roche Conclude Four Pub Sales

Roche Conclude Four Pub Sales

Roche Chartered Surveyors have recently concluded four pub sales ........

September 2015

Roche Conclude Four Pub Sales

Roche Chartered Surveyors have recently concluded four pub sales, these being the sale of Kings PH in Norwich, The Mill Inn in Saxlingham Thorpe, Queens Head in Wymondham and The Forge in Aylsham.

All four pub sales were sold on behalf of Roche's long-standing clients, Enterprise Inns. Three of the pubs were sold to local investors who are looking to re-let the premises for pub or restaurant use. The Forge was sold to a local owner-occupier who previously rented a south Norfolk pub, but was keen to buy his own freehouse.

Graham Jones of Roche commented: "It is encouraging to see that not only are freehold pubs still a popular proposition for investors and developers, but also that a number are now being bought with the intention to re-open as licensed premises. This marks somewhat of a change, as up until recently the majority of the demand had been from developers seeking to convert or redevelop the pubs to other commercial uses or residential use. Whilst the interest from developers remains, the improved demand from publicans and restaurateurs highlights the growing confidence in this sector evidently fuelled by the trend of people eating out more often as the economy continues to recover".

 

September 2015

Newmarket, 59 The Guineas

Newmarket, 59 The Guineas

Roche Retail has let 59 The Guineas, Newmarket, to CEX .......

August 2015

Newmarket, 59 The Guineas

Roche Retail has let 59 The Guineas, Newmarket, to CEX. The shop comprises a ground floor of 1,208 sq ft and CEX took a new 10 year lease at an initial rental of £37,500 pax.

This letting to CEX means that the Guineas Shopping Centre is fully let, highlighting the Centre's success in the regional retail hierarchy and Newmarket's increasing attractiveness, being renown as the centre of horse racing and as dormitory town to Cambridge.

Adrian Fennell of Roche Retail commented that "Now that the Centre is fully occupied, we are looking at asset enhancement opportunities, focusing on attracting multiple retailers and strong independants to Newmarket for the first time".

 

August 2015

3 Royal Arcade, Norwich

3 Royal Arcade, Norwich

Roche Retail has let 3 Royal Arcade to Simply Pearls ....... 

August 2015

3 Royal Arcade, Norwich

Roche Retail has let 3 Royal Arcade to Simply Pearls that specialise in the retail sale of pearl jewellery and related products. They were previously based in Frome and have relocated their business to Norwich, which includes a web based offer.

The shop comprises a total of 483 sq ft. Simply Pearls took a new 5 year lease. Roche Retail asset manage the Royal Arcade for the landlord and Adrian Fennell of Roche Retail said' that this completes another letting in this historic Arcade that is one of Norwich's principal tourist attractions and is a quality and niche shopping destination, linking Gentleman's Walk and Castle Street'.

 

 

August 2015

Refurbished offices

Refurbished offices

Norwich office market continues to see a strong demand for good quality accommodation ......

June 2015

Refurbished offices

The Norwich office market continues to see a strong demand for good quality accommodation and where landlords are prepared to undertake extensive refurbishment tenants will follow. So far in 2015 there have been two noticeable transactions to underline this.

In February this year Roche acted in the letting of the final floor of Yare House, Norwich to BDO, who join the Broads Authority, Orbit Housing, Rostrons and Tobar. Yare House was previously the regional headquarters of Anglia Water. It was acquired by a private landlord and when Anglia Water vacated, they took the brave step to comprehensively overhaul including adding an additional floor and a new façade. The property is now the only fully let office in multiple occupation in Norwich. The quality of the accommodation, along with location has been the key selling point to occupiers. 
Sam Kingston of Roche said" Yare House is a shining example of how a comprehensively refurbished building will let. There are a number of offices which have seen cosmetic improvements, but most occupiers see beyond this and in our recent experience, tenants are prepared to pay a premium price for the right property as they recognise the importance of a healthy and vibrant working environment."
With a very limited supply of Grade A space in Norwich now available any landlords prepared to refurbish accommodation could benefit from the imbalance between supply and demand for quality accommodation.
This trend is seen by the letting of 98 Pottergate, Norwich by Roche a self-contained premises with good car parking. The office was vacated by the previous occupiers and to make the accommodation more appealing the premises was comprehensively overhauled to provide a combination of open plan and cellular space. The premises were let before completion of the works to Lanpro a planning and regeneration specialist. 
Sam Kingston of Roche commented" the refurbishment of this office gave it every chance to re-let. Although not in the core business district the condition of the property made it an attractive proposition for occupiers, looking for self-contained premises with good car parking."

June 2015

Improving Industrial Market

Improving Industrial Market

Norwich industrial market has got off to a good start in 2015, with Roche acting on two noticeable transactions .......

June 2015

Improving Industrial Market

The Norwich industrial market has got off to a good start in 2015, with Roche acting on two noticeable transactions totalling 167,000 sq ft .

In March Roche let a 34,000 sq ft warehouse to Angling Direct on the Rackheath Industrial Estate. The property had only been on the market for a short period of time after Royal Mail had vacated, before being re-occupied. Tilia Properties, the landlord, undertook an extensive refurbishment of the office element of the property and provided Angling Direct with a new larger facility for their expanding business which relocated from Aylsham Road.

Sam Kingston of Roche, acting for the landlord said. "the shortage of large warehouses over 30,000 sq ft is now evident and the speed at which this transaction completed was essential to enable the tenant to re-locate their business prior to their busy trading season". Nick Hovey of Tilia said" we are pleased to welcome Angling Direct to Rackheath, where they join a number of well know Norfolk businesses including Delta Fire and Milltech Engineering".

The second transaction was the recent sale of Caley Close, Norwich, to a local property company. Caley Close is a 133,000 sq ft warehouse premises which has been vacant for a number of years. It was purchased by Peter Colby Commercials that will now look to divide the premises into a number of smaller units, ideally around the 30-40,000 sq ft mark and with the warehousing market for larger space being very tight as demand appears to be outstripping supply

Sam Kingston of Roche acted in the sale and is retained on the subsequent letting of the property. He commented" The timing for the purchaser is ideal. There are a number of unsatisfied requirements of 30,000 sq ft and above. Due to the high demand for warehousing in the Midlands, we are seeing a number of occupiers look further north, away from the A14, and this is certainly helped by the  recent completion of the dualling of the A11".

June 2015

Norwich, 21 Gentleman's Walk, NR2 1NA

Norwich, 21 Gentleman's Walk, NR2 1NA

Roche Retail let the former HMV store, 21 Gentleman's Walk, to NatWest Bank ..... 

May 2015

Norwich, 21 Gentleman's Walk, NR2 1NA

 

Roche Retail has let the former HMV store at 21 Gentleman's Walk to NatWest Bank. The property occupies a 100% prime location in Norwich City Centre and comprises over 13,300 sq ft, with a secondary entrance on to Davey Place.

Roche Retail acted for the landlord, Legal & General, and negotiated NatWest Bank taking a new 10 year lease at an initial rental of £325,000 pax.

Adrian Fennell, who heads up Roche's retail and leisure division, commented; "This is the most significant retail letting in Norwich for the past 5 years. NatWest opening one of their 'flagship' banking centres, reinforces Norwich's retail and commercial dominance in the region."

May 2015

HOUSING TRUST ACQUIRES WOODLAND PLACE OFFICE BUILDING, NORWICH

HOUSING TRUST ACQUIRES WOODLAND PLACE OFFICE BUILDING, NORWICH

Roche act for Cemex in the disposal of its interest in Woodland Place, Pinetrees Business Park ......

April 2015

HOUSING TRUST ACQUIRES WOODLAND PLACE OFFICE BUILDING, NORWICH

Norwich-based property consultants, Roche Chartered Surveyors has acted for Cemex, the international building materials company, in disposing of its interest in Woodland Place at Pinetrees Business Park, one of the largest available office buildings in the Norwich area.  The building extends to approximately 22,300 sq ft and has 96 car parking spaces.  It has previously been occupied by Royal Bank of Scotland and Virgin Bank.

The surrender of Cemex's leasehold interest has enabled the property to be sold to Saffron Housing Trust that intend to convert the building to flats.  Permission for the conversion was granted by Permitted Development Rights, the fast-track planning process introduced by the Government to increase the housing stock and provide alternative uses for vacant offices.

"The disposal of Woodland Place represents a significant liability disposal for our clients, Cemex, and is an example of the Permitted Development Rights proving effective," commented James Allen of Roche Chartered Surveyors who handled the property for Cemex.

April 2015

Roche Retain Top Industry Accolade

Roche Retain Top Industry Accolade

Roche Chartered Surveyors, "Most Active Agent for Norfolk", for the third year running ......

April 2015

Roche Retain Top Industry Accolade

Roche Chartered Surveyors, for the third year running, have been awarded the Industry's most prestigious award as the Estates Gazette "Most Active Agent for Norfolk".

The annual award, which is given by the Estates Gazette to recognise the top commercial surveyors across the country are widely knowledgeable in the property sectors as being market leading and are a reliable reflection of activity during the past year. The award underpins an extremely successful year for Roche, that has seen them advising on some of the most significant transactions across the region including the sale of a 227,438 sq ft distribution centre in Beccles; the largest office letting in Norwich of 40,000 sq ft to Perenco at St Andrews Business Park; the letting of 24,000 sq ft of new build industrial premises at Campbell's Meadow Business Park in King's Lynn at a record rent for the town and advising on the investment purchase of The Guineas Shopping Centre in Newmarket, totalling 110,000 sq ft.

James Allen, Senior Partner of Roche Chartered Surveyors, commented that the uplift in the economy has created a much increased level of activity throughout all commercial property sectors and Roche are looking forward to a buoyant year ahead".

April 2015

Roche Retail let 33 High Street, Southwold

Roche Retail let 33 High Street, Southwold

Roche Retail have let 33 High Street in Southwold to Tilley & Grace ......

April 2015

Roche Retail let 33 High Street, Southwold

Roche Retail, acting on behalf of a private landlord, have let 33 High Street in Southwold to Tilley & Grace that are an independent accessories retailer, already based in Aldborough.

The property had been extensively refurbished and extended by the landlord and comprises a retail area of approximately 580 sq ft and is close to the town's principal car park and adjacent to Fatface.

Adrian Fennell of Roche Retail commented that "there was extensive interest in the property which underlines Southwold's continuing success as a retail destination for holiday makers and the surrounding catchment. It offers an eclectic mix of multiple and local retailers and we are delighted that we have managed to secure a strong local retailer that will add to the retail diversity of the town centre".

 

April 2015

Three new occupiers for Broadland Business Park

Three new occupiers for Broadland Business Park

.... demand for prime offices in Norwich is re-affirmed with three companies agreeing to move to Broadland ...

January 2015

Three new occupiers for Broadland Business Park

The upturn in the demand for prime offices in Norwich has been re-affirmed with no fewer than three companies agreeing to move to Broadland Business Park.  Roche Chartered Surveyors are sole agents for the development and dealt with the hat-trick of deals.

TaxAssist Group is relocating its international headquarters to a suite in Bankside 300 of 5,033 sq ft.  The move will be part of a new era for the business which recently changed ownership following a management buyout.

An international energy company has leased 3,630 sq ft in the last remaining suite in Lakeside 200 and will be taking occupation shortly.

Lastly, Persimmon, the national house-builder, has agreed to buy Bankside 100 and has recently submitted a planning application for a proposed building of 9,000 sq ft which it intends to construct this year.  The company plans to relocate its office at Oulton Broad to the new facility.

In addition to the new office occupiers, Costa Coffee has recently opened a new outlet on the site and work continues on a pub/restaurant for Greene King which is due to open in the spring of 2015.

 

January 2015

The 3 R's - Rating - Refurbishment or Repair

The 3 R's - Rating - Refurbishment or Repair

 .... more buildings are being renovated to ....... enable them to be occupied. 

December 2014

The 3 R's - Rating - Refurbishment or Repair

With the property market on the incline, more buildings are being renovated to update and refurbish those, which hitherto, had not been economic to repair, to enable them to be occupied.

As rates liability remains an important consideration for any building owner or occupier, it is especially relevant, at times, when the premises are incapable of beneficial occupation and works are being undertaken to them.

Rating law demands all premises are assumed to be in a reasonable state of repair whether this is a fact or not.  Common sense dictates that where extensive works are being undertaken and the premises cannot be occupied, then the rate payer be absolved from rates liability during the extent of the period of the works.

There has recently been a case where the Upper Tribunal determined that a building which was described as "undergoing reconstruction" should be valued for rating purposes at just £1. Thus, this vindicates the common sense view, however, with potentially much Government income riding on this case the Valuation Office Agency (VOA) has sought to take the matter to the Court of Appeal, so certainty remains unresolved.

Roche are currently advising a major client on this very matter and we suggest the next few months are going to be very interesting and there are high stakes at risk!

If you have any questions on this matter please do contact us.

December 2014

A NEW LEASE OF LIFE FOR HOLLYWOOD CINEMA AT ANGLIA SQUARE

A NEW LEASE OF LIFE FOR HOLLYWOOD CINEMA AT ANGLIA SQUARE

Anglia Square Shopping Centre has signed a new lease with Hollywood Cinema .....

December 2014

A NEW LEASE OF LIFE FOR HOLLYWOOD CINEMA AT ANGLIA SQUARE

Anglia Square Shopping Centre has signed a new lease with Hollywood Cinema.  The popular four-screen multiplex - which in 2012 famously hosted the global premier of blockbuster Alpha Papa starring Norwich's very own Alan Partridge - will continue to screen new releases and much loved classics on the biggest screens, and at competitive prices.  

Commenting on the deal, Trevor Wicks, Director at Hollywood Cinemas said:

"We are extremely happy to continue our long-standing and successful cinema operation in Anglia Square and look forward to continuing to offer the biggest films at value for money prices in the future."

The renewal of Hollywood Cinema's long-term commitment to Anglia Square coincides with what has been a busy Christmas period, which has welcomed droves of Christmas shoppers taking advantage of the fantastic range and great value deals.  

Eric Kirk, Centre Manager at Anglia Square Shopping Centre commented:

"These lease renewals demonstrate the confidence that retail businesses have in Anglia Square and really reinforce how important we are as a community shopping destination in north Norwich.

"I'm happy to report that it has been a good start to the festive season and we expect the next three weeks will be the busiest, in the run up to Christmas. By all accounts, it's going to be a positive start to 2015 as well."

Roche Retail is the leasing agent for Anglia Square.

For further information, please contact Pia Choudhury at Redwood Consulting: 020 7828 5553, pia@redwoodconsulting.co.uk.

December 2014

Roche Retail Swiftly Let Former Bella Italia Restaurant in Norwich

Roche Retail Swiftly Let Former Bella Italia Restaurant in Norwich

Roche Retail successfully introduced a local restaurant group to the former Bella Italia premises in Exchange Street ...

December 2014

Roche Retail Swiftly Let Former Bella Italia Restaurant in Norwich

Within a month of the property being placed on the market Roche Retail successfully introduced a local restaurant group to the former Bella Italia premises in Exchange Street, in Norwich's city centre. After an impressively quick and good quality fit-out the 7 Heaven Burger and Waffle Company have now opened their doors in time for the Christmas trade and look set to provide something unique for food goers. Company owner Marcus Pearcey said "interest in the new restaurant has been phenomenal and the first few days trading has exceeded all our expectations".

The premises totalling some 2,500 sq ft over two floors, are located directly opposite Jarrolds Department Store within Norwich's retail core and the very successful 'Lanes' area which is home to an eclectic mix of national and independent retailers, eateries and public houses.

Graham Jones of Roche Retail commented that: "this letting underlines the prominence of Norwich as a centre for not only established restaurant brands but also new ventures and builds on the success the city is having following recent openings from Bill's, GBK, TGI Fridays, Las Iguanas and City Pub Company's Georgian Town House.  What is also encouraging is that the appetite for restaurant premises in Norwich appears to be showing no signs of letting up and we are seeing further strong demand from both national and local operators."

December 2014

Essex clothing company buys large Beccles warehouse

Essex clothing company buys large Beccles warehouse

Roche Chartered Surveyors has arranged the largest warehouse transaction .........

December 2014

Essex clothing company buys large Beccles warehouse

Roche Chartered Surveyors has arranged the largest warehouse transaction that the Norfolk and Suffolk commercial property market has seen for many years, the sale of the former Hawkins Bazaar distribution centre at Beccles Business Park to Colchester-based Result Clothing Limited.

The massive building extends to 227,500 sq ft (21,135 sq m), including offices and mezzanine levels on a site of 14.5 acres (5.86 hectares).  The property was purpose-built in 2007 as the national distribution centre for the Hawkins Bazaar retail chain which subsequently went into administration.

Result Clothing intends to make the Beccles site its main distribution hub.  The business distributes to garment decorators and corporate clothing providers throughout Europe.  It is likely to move a number of staff to Beccles when it takes occupation next year.

"The availability of large, modern distribution centres in the region is limited because there are few companies that can take on buildings of this size.  It is extremely satisfying to have attracted Result Clothing to Suffolk in what is a very significant investment in the area", commented James Allen of Roche Chartered Surveyors who handled the sale.

The property was sold by Chris Williams, the liquidator of Pedlar Properties Limited from business rescue and insolvency specialists McTear Williams & Wood.  Roche Chartered Surveyors and BNP Paribas were the selling agents.  

December 2014

Tesco Complete Warehouse letting in King's Lynn

Tesco Complete Warehouse letting in King's Lynn

Roche have recently completed one of the largest industrial lettings in King's Lynn .......

December 2014

Tesco Complete Warehouse letting in King's Lynn

Roche have recently completed one of the largest industrial lettings in King's Lynn for a number of years at a record rent in excess of £5.30 psf to Fosters, who are Europe's leading commercial refridgeration manufacturer that are expanding into this facility, as well as retaining their existing premises that are located throughout King's Lynn.

The property is located at Campbell's Meadow Business Park and comprises a 24,500 sq ft warehouse, which was built by Tesco adjacent to their new King's Lynn superstore on the Hardwick Road, that is the premier out of town location for King's Lynn, being adjacent to the A47/A10/A17 road hub.

Sam Kingston of Roche commented, "The letting of this major facility will act as a catalyst for the occupation of the remainder of this development that comprises an additional 30,500 sq ft of trade counter and offices, that have now been completed and are now ready for occupation. There is already strong interest from occupiers that see this as the only opportunity to take new highly specified buildings in such a premier location, as evidenced by the record breaking rent already achieved".

December 2014

PROPERTY SEMINAR AT NCFC - NOVEMBER 2014

PROPERTY SEMINAR AT NCFC - NOVEMBER 2014

Property Seminar presented once again by law firm Birketts LLP, Chartered Surveyors Roche and accountants and business ...

November 2014

PROPERTY SEMINAR AT NCFC - NOVEMBER 2014

The annual Property Seminar presented by law firm Birketts LLP, Chartered Surveyors Roche and accountants and business advisers BDO LLP has been held again this year at Norwich City Football Club. A diverse range of property experts attended the event, which sets out to update the eastern counties' property community on current commercial property matters and related tax and legal topics, at a time when there are increasing signs of the property market improving.

100% of property delegates expect to be buying property in one to two years, according to the findings of market research undertaken at the event. When asked if the Election next year would have a significant impact on the property market, 50% of respondents said no, 25% yes and 25% were undecided. 62% of people who took part in the research think that residential property prices have stopped rising.

Commercial property specialists Roche provided an insight into the regional market. Partner Sam Kingston commented: "There has been a large improvement in the commercial property market in Norfolk since the last seminar in November 2013." Roche also highlighted the organic growth and inward investment in the county, and pointed out that capital values are improving.

Birketts talked about the very latest developments in property law, focusing on subjects such as break clauses, easements and the changing world of permitted developments. BDO's talk entitled "Keeping on top of tax", covered corporate and business tax topics such as VAT and stamp duty land tax planning.

 

November 2014

St Cuthbert's House bought by property company

St Cuthbert's House bought by property company

Roche Chartered Surveyors have arranged the sale of St Cuthbert’s House, one of the largest office buildings in ...

October 2014

St Cuthbert's House bought by property company

Roche Chartered Surveyors, the Norwich-based commercial property agents and consultants have arranged the sale of St Cuthbert's House, one of the largest office buildings in Norwich city centre.

 

Acting for the owners, First Investments, Roche arranged the sale of the 39,000 sq ft, 6-storey building in Upper King Street.  The property has been bought by a London-based private company that has obtained planning consent to convert the building to residential use.

 

St Cuthbert's House has until recently been occupied by HM Revenues & Custom and Overburys Solicitors prior to the firm's merger to become Spire Solicitors.  The building is in the heart of Norwich's professional and financial areas with upper floors that have superb views over Norwich Cathedral and The Close.

 

"The Government's introduction of a streamline planning process for converting office buildings to residential use has been met with a positive response from developers at a time of strong demand for new housing.  St Cuthbert's House occupies an attractive city-centre location and being a relatively modern building, is quite flexible in accommodating a change of use.  It therefore makes an ideal conversion opportunity", commented James Allen of Roche Chartered Surveyors who dealt with the marketing of St Cuthbert's House.

 

 

October 2014

Roche appointed to sell food factory

Roche appointed to sell food factory

Roche Chartered Surveyors have been appointed to handle Kinnerton sale …...

October 2014

Roche appointed to sell food factory

Kinnerton Confectionary Limited is expanding its Fakenham factory to meet growing demand for its chocolate products.  As a result, its satellite site at South Creake in north-west Norfolk is surplus to requirements.  Roche Chartered Surveyors have been appointed as joint agents to handle the sale.

 

The property extends to approximately 40,900 sq ft on 4 acres which includes production and storage space, along with ancillary offices.  The overall site includes two houses and there is further land of approximately 22 acres that is potentially available.  Kinnerton plan to vacate the site during 2015.

"The availability of Kinnerton's premises at South Creake provides a relatively rare opportunity to purchase extensive food-grade premises that have been comprehensively refurbished in recent years and which comply with the stringent requirements of a number of the UK's largest food retailers", commented James Allen of Roche Chartered Surveyors who is dealing with the sale of the property.

 

 

 

October 2014

Local Knowledge is Key to Planning Success

Local Knowledge is Key to Planning Success

Roche involvement in a successful planning appeal has achieved development of a 35,000 sq ft retail store at Denmark ...

September 2014

Local Knowledge is Key to Planning Success

Roche Chartered Surveyors acting with Savills (Manchester) were recently instrumental in achieving a successful planning appeal for the development of a 35,000 sq ft retail store at Denmark Road, Lowestoft.

The initial application was refused and the matter was settled at an informal hearing, as part of the planning appeal process. Roche were instructed to provide advice on industrial and office supply within Lowestoft and the sub-region, demand, rents and in-depth development appraisals. At the Appeal, the inspectorate concluded that the weight of evidence provided by the Local Authority was insufficient and accordingly planning consent was granted for a new retail development.

The consultancy role, provided by Roche, ensured that the planning appeal was successful as there was a strong understanding of the commercial property market which were instrumental in justify the arguments for the appeal.

Sam Kingston of Roche, who acted in the planning appeal, commented "Local knowledge is key to understanding the property market, whether it be in planning, agency or valuation. We are regularly asked to provide advice to assist in planning appeals as our knowledge is recognised as a fundamental part in winning the appeals process".

September 2014

Norwich, 37/37A St Andrews Street

Norwich, 37/37A St Andrews Street

Roche Retail have sold the freehold interest in this Grade II listed building ...... 

September 2014

Norwich, 37/37A St Andrews Street

Roche Retail, acting on behalf of a private investor, have sold the freehold interest in this Grade II listed building to a local architect. The new owner is planning to occupy the first and second floors, whilst retaining the income of £16,500 pax produced from two retail tenants at ground floor level.

The property was sold for a sum of £325,000 and reflects the strong interest from investors in Norwich that continues to enforce its regional dominance as a retail, commercial and cultural city. Roche were also involved in the sale of the adjacent St Andrew's House that comprises over 23,750 sq ft of offices let to the City College Norwich. This was purchased by the Norwich University of the Arts reflecting their continued expansion and growth in the area.

 

September 2014

Norwich city centre is set to get a major makeover

Norwich city centre is set to get a major makeover

The mix of shops, restaurants, homes and cafés which Norwich needs to continue to be a thriving and attractive ...

August 2014

Norwich city centre is set to get a major makeover

The mix of shops, restaurants, homes and cafés which Norwich needs to continue to be a thriving and attractive place to visit and buy goods has been set out by Norwich City Council.  Businesses are being urged to provide feedback about its new guidance for planners, which for the first time sets out its vision for the number of shops on its high streets, as well as other businesses such as banks, building societies, restaurants and cafés.

The blueprint could see the green light given to plans for flats above shops in places such as The Lanes and Magdalen Street, and will also urge planners to discourage high concentrations or continuous run of betting shops and amusement centres.

Adrian Fennell, partner at chartered surveyors Roche, welcomed the initiative which he said showed the council was taking a "pro-active stance" in ensuring Norwich continues to remain a vibrant city centre that is evolving with the shift in consumer shopping and leisure habits.

"The specific focus on retail areas will ensure that the plan remains relevant and can be individually adapted in the future," he said.

But he warned that the council would need to carefully consider the implications of rules which mean it is currently possible to convert a restaurant into a betting shop without control.

"Furthermore, certain non-retail uses will still need to be very carefully controlled, such as late night bars as this could detract from residential occupation within the city centre that is also an essential element for encouraging and retaining vibrancy," he warned.

"I would also like to see all the landlord's views being canvassed as they play an essential part to the plan, particularly as their consent will be required before any tenant can apply for a change of use," he added.

The new plan will be more flexible than previous, less wide-reaching plans, and will have less legal constraints.

For more information please click on the following link:

http://www.edp24.co.uk/news/graphic_how_norwich_city_centre_is_set_to_get_a_major_makeover_1_3724183

Annabelle Dickson,

Political Editor, Archant Anglia  

August 2014

A win for the Paris Pitchers!

A win for the Paris Pitchers!

Another successful and competitive week for budding petanque players .....

June 2014

A win for the Paris Pitchers!

Another successful and competitive week for budding petanque players in our annual corporate event hosted by the National Trust at Blickling Hall in Norfolk.

This week's competition was a closely fought final between the Musketeers and the Paris Pitchers. It was finally won by the latter, represented by Mark Baxter and Steve Brown of Real Consulting, who were accompanied by Roche team mates Sam Kingston and Lee Askew. They won the coveted cup and received a bottle of champagne each.

The best dressed accolade was awarded to Les Grand Boules, which this week comprised of Anne Gromett, Bhargav Trivedi, Greg McCurday, Emily Groom from Birketts Solicitors. They a received congratulatory bottle of French dressing.

The annual petanque event is a much loved event in the calendar here at Roche Chartered Surveyors and we look forward to welcoming our clients and friends for the 2015 competition.

June 2014

Roche host 20th annual Petanque Competition

Roche host 20th annual Petanque Competition

.... Roche hosts their twice annual Petanque competition at Blicking Hall in Norfolk .....

June 2014

Roche host 20th annual Petanque Competition

It is that time of year again when Roche hosts their twice annual Petanque competition at Blicking Hall in Norfolk.

The weather managed to hold out for another year, and competitors took part with good sportsmanship (for the most part) and enjoyed spending a summer evening amongst friends, colleagues and clients.

The competition consisted of eight teams, with three games being played by each team before a ‘half time' supper and one final game played by each team to determine the final rankings.

This year's victors were The Musketeers, consisting of Elizabeth Smith of Jarrolds, the property developer Robert & Diane Harber and Roche partner, Jackie Crisp.

The best dressed accolade was awarded to the Paris Pitchers, which comprised of the commercial property team at solicitors from Mills and Reeve based in their Norwich office - Robert Hutton, Namita Matkar, Rowena Leary and Lisa-Marie Kennedy.

Next week Roche Chartered Surveyors hold their second annual petanque event and look forward to seeing everyone in their French inspired outfits and seeing who will be the victor for the 41st petanque competition.  

June 2014

New Agents for Beccles Distribution Centre

New Agents for Beccles Distribution Centre

.... former Hawkins Bazaar/Tobar distribution centre at Beccles Business Park is being re-marketed through new agents .....

April 2014

New Agents for Beccles Distribution Centre

Following the appointment of Chris Williams of McTear Williams & Woods as liquidator, the former Hawkins Bazaar/Tobar distribution centre at Beccles Business Park in North Suffolk is being re-marketed through new agents, Norwich-based commercial property consultants, Roche Chartered Surveyors and the London office of BNP Paribas Real Estate.

The property is one of the largest purpose-built modern distribution centres in East Anglia, having been constructed approximately 7 years ago for the Hawkins Bazaar retail chain. It extends to approximately 148,036 sq ft (13,752.9 sq m). The building comprises a high-bay warehouse with an eaves height of approximately 11.75 metres and incorporates two mezzanine levels which provide an additional 79,402 sq ft (7,376.6 sq m) of floor space.
The property occupies a site of approximately 14.5 acres (5.86 hectares) which provides room to extend the building or undertake further development as well as the possibility of open storage and vehicle parking.

The warehouse is renowned for the prominent 6 metre diameter backwards clock on its elevation facing passing traffic on Copland Way.

"This distribution centre not only has a large capacity but has also been built to an extremely high specification. It has potential for a number of uses including retail distribution, an internet shopping delivery facility, conventional warehousing and energy-related companies in view of its proximity to Lowestoft and Great Yarmouth. The site offers considerable flexibility to a wide range of occupiers who can use a large, modern building" commented James Allen of Roche Chartered Surveyors who is handling the sale of the building.

The building is being offered for sale although enquiries from prospective tenants will also be considered.

April 2014

2014 Sees Green Shoots in the East Anglian Commercial Property Market

2014 Sees Green Shoots in the East Anglian Commercial Property Market

The commercial property market started 2014 in considerably better shape than any of the preceding 5 years ...... 

April 2014

2014 Sees Green Shoots in the East Anglian Commercial Property Market

The commercial property market started 2014 in considerably better shape than any of the preceding 5 years, following a turnaround in confidence during 2013. Occupier activity throughout East Anglia has reflected the economic indicators, showing a distinct improvement. This has not gone undetected by investors with more money being placed into property with capital values strengthening. However, the improvement in occupier demand is still at an early stage, with the greatest activity around smaller premises and no widespread evidence of rent values increasing yet.

With virtually no substantial speculative development for 5 years, good quality accommodation is in short supply, particularly offices and warehousing. New and quality stock has been depleted during the downturn and choices for our larger companies wanting to expand are restricted. This ought to be a catalyst for new development but only if occupiers can commit to longer leases on less flexible and less favourable financial terms than they have become accustomed to in recent years. Otherwise, new construction simply will not be viable. The problem will be compounded if the housing market accelerates construction price inflation.

Norwich has retained its strength as a retail centre, Ipswich is improving whilst Bury St Edmunds remains vibrant. The county towns continue to be vital centres for professional services as evidenced by recent large office lettings in both Norwich and Ipswich. Demand for residential conversion opportunities, eased by recent planning changes, is seeing several moribund offices being taken out of the market. New infrastructure investments, such as the A11 and at Felixstowe, will boost property prospects in the manufacturing and logistics sectors. With energy and technology driving demand and new construction on the east coast, at Norwich Research Park and Adastral Park, the region's commercial markets have an interesting year ahead.

April 2014

ROCHE SPONSORS 'TOP 100 BUSINESSES 2014'

ROCHE SPONSORS 'TOP 100 BUSINESSES 2014'

Norwich-based commercial property consultants, Roche Chartered Surveyors will be joint sponsors of Archant's survey of the ...

April 2014

ROCHE SPONSORS 'TOP 100 BUSINESSES 2014'

Norwich-based commercial property consultants, Roche Chartered Surveyors will be joint sponsors of Archant's survey of the Top 100 businesses in Norfolk and Suffolk. Roche will be joining fellow sponsors, PwC and Mills & Reeve, both of whom have had a long involvement with the highly-regarded annual review of leading businesses in the area.

The 2014 Top 100 survey is due to be published in the Eastern Daily Press, the East Anglian Daily Times and on-line in early April, following a launch event. Subsequent business forums involving leading companies are planned throughout the year.

"We are delighted to be involved in Archant's Top 100 as joint sponsors. The annual survey always attracts a great deal of interest and is well recognised by the business community throughout Norfolk and Suffolk. In view of our extensive activity with leading companies across the region through commercial property, it is very logical for us to be involved. With the economic recovery gaining momentum, we are looking forward to the survey being published with great interest and to the associated events throughout the year", commented James Allen, Senior Partner of Roche Chartered Surveyors.

April 2014

 

April 2014

Prestige Offices in Norwich Cathedral Close To Let

Prestige Offices in Norwich Cathedral Close To Let

Roche Chartered Surveryors are instructed by Norwich Cathedral's Dean & Chapter to find new tenant ...

April 2014

Prestige Offices in Norwich Cathedral Close To Let

Norwich-based commercial property consultants, Roche Chartered Surveyors has been instructed to find a new tenant for a prestige office building in The Close by Norwich Cathedral's Dean & Chapter. No 15 The Close is a detached building that overlooks the Lower Green with excellent views of the Cathedral. It extends to 3,191 sq ft and has the benefit of central heating, period character features and a large car park with capacity for at least 10 vehicles.

The availability of 15 The Close is a rare opportunity for an office occupier to locate in the unique surroundings of The Close. It is an extremely calm and tranquil setting, yet close to the all the city centre facilities and other office occupiers, with excellent car parking. "Roche are delighted to be acting jointly with Savills in seeking a new tenant on behalf of the Dean & Chapter of Norwich Cathedral," commented James Allen of Roche Chartered Surveyors.

April 2014

Launch of the Women in the Built Environment Networking Group

Launch of the Women in the Built Environment Networking Group

The timely launch of the Women in the Built Environment (WiBE) networking group was a huge success .....  

April 2014

Launch of the Women in the Built Environment Networking Group

The timely launch of the Women in the Built Environment (WiBE) networking group this morning was a huge success and has already received some fantastic feedback.

The bespoke breakfast event hosted at the Roche Chartered Surveyors offices in Norwich, was attended by twenty-five guests from around the region who all work in or have links with the built environment sector. Attendees included women accountants, surveyors, planners, low carbon consultants and architects, legal professionals and those in property development and management.

In her welcome speech, Caterina Milioto, Larking Gowen Senior Manager, told of the funding groups journey to the launch stressing how there was felt to be a real need for such a network in the area, which was met with a resounding hum of agreement from the room.

The attendees were given an opportunity to network over coffee and pastries and to hear an outline of WiBE's ethos ‘to enhance and promote the profile of women in the built environment', together with how their mentoring scheme and well-planned, creative and diverse events and unique and interesting speakers will enable this vision. The next planned events during the summer and autumn will focus on ‘skills for success' and ‘mentoring' in line with WiBE's aims and objectives to increase and support women in the sector.

"It's rare to attend something where the time flies and you meet as many interesting and professional people as happened this morning, a testimony to the Committee's goals outlined by Caterina already!" (Attendee)

For future planned events and more information about WiBE please visit our website at www.wibe.org.uk or email us at info@wibe.org.uk where you can be involved in what is going to be a wholly useful and exciting networking group.

April 2014

Business Rates Retail Relief

Business Rates Retail Relief

Business rates remains a topic of immense concern .......

February 2014

Business Rates Retail Relief

Business rates remains a topic of immense concern and discussions continue within the property sector and it is apparent, the retail sector is the most vociferous champion of the debilitating effect the current system has, especially on the traditional High Street.

To attempt some mitigation of this effect, the latest initiative from Central Government takes into account the discernable changes the retail sector continues to undergo and it specifically relates to the effect of internet shopping on the traditional High Street retail outlets. The Government suggest it has maintained its stance to support traditional town centres by providing specific support to retailers.

Looking back to December 2013, Central Government announced the relief of up to £1,000 to all occupied retail properties with a rateable value of £50,000 or less, in the years 2014/2015 and 2015/2016. It is a discretionary relief and is not relative to the actual rateable value of the premises nor is it subject to any tapering.

While specific mention is made of retail premises and the High Street, the application of this relief also relates to restaurants, cafes and drinking establishments and this description of retailing is also to encompass opticians, post offices, car/caravan showrooms, second-hand car lots, markets, petrol stations, garden centres, funeral directors, tool hire and car hire. Indeed any property which sells good, including food and drink and provides services to the public. It is not intended to apply to premises occupied by financial services, estate agents, Doctors surgeries and the like.

This is therefore quite a long list of potential claimants and it should be noted, to qualify for the relief the premises should be wholly or mainly being used as a shop, restaurant, café or drinking establishment etc. This is a test on use rather than occupation, thus properties which are occupied but not wholly or mainly use for the qualifying purpose will not qualify for the relief.

If you think you may qualify then apply now to the local authority in which the premises are located.

February 2014

Hyperion House, Sweetbriar Industrial Estate, Norwich

Hyperion House, Sweetbriar Industrial Estate, Norwich

Fast-growing energy services company moves to larger premises .......  

February 2014

Hyperion House, Sweetbriar Industrial Estate, Norwich

Fast-expanding local company, EV Off-Shore is accommodating the next phase of its growth by moving to larger, prestige premises. The company which supplies small cameras that can remotely monitor underground oil wells, has moved from its original premises in Rose Lane in Norwich city centre to Hyperion House on Sweetbriar Industrial Estate. The company has leased the entire two-storey building which extends to 23,000 sq ft (2,136 sq metres) to accommodate all its functions under one roof.

Helionova, the previous occupiers of Hyperion House, have moved to premises on the Hellesdon Park Industrial Estate.

Hyperion House is an unusual industrial property, having both an eye-catching design and accommodation arranged on two floors with the upper level being accessed by a substantial goods lift.

"The letting of Hyperion House reflects not only the significant improvement in the industrial letting market during the second half of 2013, when we saw a number of vacant larger properties being occupied and the continuing strength of businesses involved in the energy sector in East Anglia, many of who are exporting their products and services throughout the world", commented James Allen of Roche Chartered Surveyors who handled the letting of the property.

For further information contact james.allen@rochesurveyors.co.uk

February 2014

Five Guys Land in Guildford

Five Guys Land in Guildford

Roche Retail have secured a letting of 25/26 Friary Street, Guildford to Five Guys .....

January 2014

Five Guys Land in Guildford

Roche Retail, acting on behalf of Legal & General, have secured a letting of 25/26 Friary Street, Guildford to Five Guys, that will be one of their first 5 outlets in the UK since opening their flagship in Covent Garden in 2013.

The unit comprises a ground floor restaurant of approximately 3,325 sq ft. Five Guys, founded in 1986, have over a thousand locations and compliment Friary Street's growing list of restaurateurs that include Jamie's Italian, Nandos, GBK, Yo! Sushi and Wagamama.

Roche Retail have advised Legal & General on their ownership in Friary Street, commencing with the total refurbishment of the street in 2005, that has led to it becoming one of the premier retail and restaurant destinations in Guildford.

Adrian Fennell of Roche Retail, commented that "Five Guys have chosen Friary Street in Guildford as one of their first five destinations for the UK as it represents an ideal opportunity for them to be in one of the south east's top shopping destinations and they add a fresh new international restaurant concept to the existing tenant line up".

January 2014

Roche Scoop Major Commercial Property Awards

Roche Scoop Major Commercial Property Awards

Roche has retained its title as Norfolk's most active firm in the commercial property sector's leading awards ....... 

January 2014

Roche Scoop Major Commercial Property Awards

Roche has retained its title as Norfolk's most active firm in the commercial property sector's leading awards. The title is awarded by the Estates Gazette for the firm conducting the most transactions across all sectors of the commercial property market and has now been won by Roche in 2013 and 2014.

To cap Roche's success, the firm's retail partner, Adrian Fennell, won the Dealmaker Award for the individual involved in the most transactions throughout 2014. The Awards were presented to Roche at a regional reception in Cambridge by the Estates Gazette's Editor, Damian Wild.

James Allen, Senior Partner of Roche Chartered Surveyors, commented "The Estates Gazette Awards are widely acknowledged in commercial property as being market-leading and are a reliable reflection of activity during the past year. We are therefore extremely proud and pleased to have retained our title as Norfolk's most active firm. The Award reflects a huge amount of effort by everyone in the firm and the extent of our activities in all the main commercial sectors including retail, leisure, offices, industrial and warehousing. Adrian Fennell's individual Award is thoroughly deserved. As a result of his activity, the firm has won the Estates Gazette's Award as the leading retail firm across the whole of East Anglia for the last three years. With demand and confidence improving in all sectors, we are expecting 2014 to be another busy year."

January 2014

New Year's Resolutions

New Year's Resolutions

The start of any new year is a good time to review property matters, ....... 

January 2014

New Year's Resolutions

The start of any new year is a good time to review property matters, as well as personal resolutions in general! In the lull of the holiday period, the new year is an opportunity to put in place a new or revised plan of action in terms of your commercial property, whether it is on property management issues, tenancy matters or property disposal/strategy.

In terms of property management, statutory requirements play an increasing part in our lives and as the duty holder, the landlord/property manager is responsible for ensuring compliance with these requirements. Management processes need to be reviewed against changing tenancy structures, physical changes both inside and outside the control of the premises and new or altered legislation need to be considered. Roche Chartered Surveyors review their own processes regularly to ensure any improvements or changes in regulations which affect the property or the service provided reach the client and their property.

Currently we are undertaking a review with all the management instructions we have and during the next 12 months believe we can make a difference in terms of savings and efficiency for our clients. We have achieved much for our property owners over the last year and seek to continue to work with them and improve their investment.

If you would like to discuss your unique commercial property requirements with us for properties in the East of England, please contact, Jackie Crisp, Partner in charge of property management.

January 2014

Norwich - 66 London Street

Norwich - 66 London Street

Salon Sixty Six have opened, to much acclaim, their new hairdressing salon based at 66 London Street, Norwich ...

December 2013

Norwich - 66 London Street

Salon Sixty Six have opened, to much acclaim, their new hairdressing salon based at 66 London Street, following a comprehensive refurbishment of the entire exterior and interior of the property.

Anglian Academy have taken a new lease on the entire building that comprises 1,275 sq ft of ground floor and ancillary accommodation totalling 1,630 sq ft. They will be using the upper floors for training purposes.

Roche Retail negotiated a surrender of the existing tenant's lease and a new lease with the landlord. Adrian Fennell of Roche Retail commented, "This was a significant letting for the eastern end of London Street and now this meant there were no retail vacancies in the entire street, which mirrored the continuing strengthening of Norwich's retail market where vacancy levels are at an historic low".

December 2013

Norwich - 9/13 St Stephens Street - New Sainsbury's Letting

Norwich - 9/13 St Stephens Street - New Sainsbury's Letting

 Sainsbury's have just signed a new lease on 9/13 St Stephen Street  ........ 

December 2013

Norwich - 9/13 St Stephens Street - New Sainsbury's Letting

Sainsbury's have just signed a new lease on 9/13 St Stephen Street that totals approximately 4,300 sq ft over ground and first floor levels.

Sainsbury's will commence fit-out shortly with the new convenient store opening in early 2014.

Roche Retail advised the landlord, Aviva Investors, throughout the transaction.

Roche Retail advise Aviva Investors on their entire St Stephen's Street holding and Adrian Fennell of Roche Retail commented, "This letting provided a significant anchor at the northern end of our clients holding and will provide a useful in-town convenience store to serve the many workers in the area, together with the busy coach/bus transport interchange".

December 2013

Roche Racers compete in Norwich Tri-Anglia Business Challenge Triathlon

Roche Racers compete in Norwich Tri-Anglia Business Challenge Triathlon

Roche Chartered Surveyors competed in the Norwich Tri-Anglia Business Relay Triathlon on 7 July 2013 ........  

December 2013

Roche Racers compete in Norwich Tri-Anglia Business Challenge Triathlon

Roche Chartered Surveyors competed on a very hot and sunny day in the Norwich Tri-Anglia Business Relay Triathlon on 7 July 2013 and came a respectable 21st out of 60 relay teams finishing the course in 2 hours, 36 minutes and 58 seconds.

The course included a 1.5km open water swim in Whitlingham Great Broad, a 40km bike ride and a 10km run.

Team Roche comprised of Paul Robson, Sam Kingston and Lee Askew.

December 2013

Successful Summer for Sam!

Successful Summer for Sam!

Proving (very) hard work pays off, Sam Kingston of Roche Chartered Surveyors, entered the Tri-Anglia competition in Cromer ...

December 2013

Successful Summer for Sam!

Proving (very) hard work pays off, Sam Kingston of Roche Chartered Surveyors, entered the Tri-Anglia competition in Cromer, Norfolk on 27 July 2013. He beat his previous Ironman race time in 2011 by over 1 hour to complete the course in 11 hours, 25 minutes and 27 seconds.

The Anglian Ironman in total saw 50 individual athletes and seven relay teams attempting the combination of a 2.4-mile sea swim, 108-mile cycling circuit around north Norfolk, and a 26.2-mile marathon which included the steep coastal cliff path up to Cromer Lighthouse. The triathlon was won by Stephen Whitington, 44, from Rugby, in a time of 10 hours, five minutes and 35 seconds.
Sam is a partner of the firm and an RICS registered valuer. He deals with development, investment, general commercial agency and provides consultancy advice to a wide range of public and private sector clients.
Sam has been with Roche since 2003. He has been involved with commercial property based in the East of England throughout his career. If you would like to get in contact with Sam, click here.

December 2013

Strong demand for vacant Beccles warehouse

Strong demand for vacant Beccles warehouse

Roche Chartered Surveyors, acting for a private landlord, have recently sold the former Mark Elliott warehouse and ...

November 2013

Strong demand for vacant Beccles warehouse

Roche Chartered Surveyors, acting for a private landlord, have recently sold the former Mark Elliott warehouse and distribution centre at Beccles.

The property was a self contained warehouse extending to 20,000 sq ft and located on the popular Anson Way industrial estate.

Demand for this freehold property was strong due to sensible pricing and a limited supply, with owner occupiers able to acquire the premises at a price which made acquisition more viable than renting. The property was sold for close to the asking price of £650,000, equating to £32.50 per sq ft.

Sam Kingston of Roche commented, "We were pleased to sell this property for the owners. There was strong interest from the start and the sale to a local business, BFS Enterprises, continues the trend for owner occupation for industrial property.

Strutt and Parker acted jointly in the sale.

 

November 2013

Frenbury Industrial Estate, Norwich sees further tenant expansion

Frenbury Industrial Estate, Norwich sees further tenant expansion

The last vacant unit at Frenbury Industrial Estate, Norwich has recently been let.

November 2013

Frenbury Industrial Estate, Norwich sees further tenant expansion

The last vacant unit at Frenbury Industrial Estate, Norwich has recently been let.

Unit A, which comprised 13,000 sq ft, became available as a result of Edmundson Electrical locating to a larger premises on the estate. The property has been let to CTS, that have relocated to the site from smaller premises as their expansion plans necessitated a larger warehouse.

Sam Kingston of Roche Surveyors who acted in the letting stated "The letting of this property shows that good quality warehousing in Norwich will always find an occupier as supply of self contained premises is limited and demand has generally remained strong for industrial property in the city. A new 5 year lease has been taken by the occupier at around £5.50 per sq ft."

The estate is owned and managed by Aberdeen Asset Management and in total extends to over the 70,000 sq ft.

 

November 2013

EASTGATE HOUSE, 122 THORPE ROAD, NORWICH SALE IS SIGN OF IMPROVING OFFICE MARKET

EASTGATE HOUSE, 122 THORPE ROAD, NORWICH SALE IS SIGN OF IMPROVING OFFICE MARKET

The office market in Norwich is slowly picking up after an extremely weak first half of the year which marked a low point. ...

November 2013

EASTGATE HOUSE, 122 THORPE ROAD, NORWICH SALE IS SIGN OF IMPROVING OFFICE MARKET

The office market in Norwich is slowly picking up after an extremely weak first half of the year which marked a low point. Since the summer, several well-funded private local companies that have been biding their time, have now decided it is opportune to buy.

This is exemplified by the sale of Eastgate House in Thorpe Road, a 26,000 sq ft 1970's building, previously home to various Government departments but largely vacant for at least 3 years. The property has 100 car parking spaces and the vacant parts require refurbishment. Eastgate House has been bought by a private buyer.

"The sale of Eastgate House follows Guardline's purchase of the 36,000 sq ft St Peter's House in Cattlemarket Street recently, where Roche set up a short-let to a new Free School. There is no doubt that improving market sentiment together with the new office-to-residential Permitted Development rights, along with enquiries for alternative uses, are giving the market an overdue fillip, " commented James Allen of Roche who acted for the company that sold Eastgate House.

November 2013

NEW YEARS RESOLUTIONS

NEW YEARS RESOLUTIONS

The start of any new year is a good time to review property matters .....

October 2013

NEW YEARS RESOLUTIONS

The start of any new year is a good time to review property matters, as well as personal resolutions in general! In the lull of the holiday period, the new year is an opportunity to put in place a new or revised plan of action in terms of your commercial property, whether it is on property management issues, tenancy matters or property disposal/strategy.

In terms of property management, statutory requirements play an increasing part in our lives and as the duty holder, the landlord/property manager is responsible for ensuring compliance with these requirements. Management processes need to be reviewed against changing tenancy structures, physical changes both inside and outside the control of the premises and new or altered legislation need to be considered. Roche Chartered Surveyors review their own processes regularly to ensure any improvements or changes in regulations which affect the property or the service provided reach the client and their property.

Currently we are undertaking a review with all the management instructions we have and during the next 12 months believe we can make a difference in terms of savings and efficiency for our clients. We have achieved much for our property owners over the last year and seek to continue to work with them and improve their investment.

If you would like to discuss your unique commercial property requirements with us for properties in the East of England, please contact, Jackie Crisp, Partner in charge of property management.

October 2013

Mustard News Feature: New shops breathe fresh life into Norwich's Royal Arcade

Mustard News Feature: New shops breathe fresh life into Norwich's Royal Arcade

In recent years the arcade has often had empty units, but is now on the brink of returning to full capacity.

October 2013

Mustard News Feature: New shops breathe fresh life into Norwich's Royal Arcade

In recent years the arcade has often had empty units, but is now on the brink of returning to full capacity.

The 19th-century arcade, designed by local architect George Skipper in 1899, has seemingly been given a fresh lease of life ever since celebrity chef Jamie Oliver opened one of his restaurants there in July 2012.

Now the arcade's iconic and established shops, such as Langleys toy shop and the Colman's Mustard Shop and Museum, have been joined by an influx of new independent shops. The likes of Marmalades cafe and Tim Kinnaird's Macarons & More shop have bolstered the historic shopping arcade and are set to be joined by a successful independent homeware company from Cornwall, Berrys & Grey.

Adrian Fennell is the partner in charge of retail for the arcade's letting agents, Roche Chartered Surveyors, which manages the historic shops for owners Legal & General.

"Over the last few years we have had a policy to upgrade the tenant mix in the arcade," Mr Fennell said. "It has been a conscious decision to reallocate asset management so it remains one of Norwich's primary retail destinations, and also a great tourist location, with the added advantage that it links Gentlemans Walk to the Back of the Inns and Castle Street.

"We have worked hard to get the right retail mix as we have been selective. We prefer to be selective and take the right tenant, rather than take any tenant, and it's very important that everyone feeds off each other.

"I think it's one of the best arcades I've ever seen in the country and I think we should all be very proud."

Roche have ensured black and gold shop frontages are maintained throughout the arcade and have also had new lighting fitted at the entrances to White Lion Street and Gentlemans Walk to brighten up the inside of the arcade, with a caretaker on patrol to ensure the smooth running of the arcade.

The addition of Berrys & Grey will fill two units, after the relevant permissions were gained to knock through the two units into one. The new shop is currently being fitted out and has signs saying "magic at work, your patience is requested" hanging in its windows.

It leaves just one unit needing a tenant, with Mr Fennell saying there is "plenty of interest". He added: "What we have done is mix quality independents and regional multiples.

"Some of those retailers have units elsewhere in Norfolk; The Tannery are in Holt, Digbys chocolates in Cromer, Gallyons have two others in Norwich and Artique is a national chain.

"Because we have a good mix we have a good variety of customers. Marmaldes is a strong independent brand as well, so we are catering to a wide cross-section of people who want to go to independents instead of nationals.

"Soon we will have Berrys & Grey, which I think is fantastic and a big show of faith in Norwich and the Royal Arcade. We really have a special mix."

October 2013

Shuropody relocate to new shop premises within Norwich city centre

Shuropody relocate to new shop premises within Norwich city centre

Acting on behalf of the landlord of 1 Swan Lane, Norwich Roche Retail have let the property to Shuropody .....

September 2013

Shuropody relocate to new shop premises within Norwich city centre

Acting on behalf of the landlord of 1 Swan Lane, Norwich Roche Retail have let the property to Shuropody that have taken a new 10 year lease at an annual rent of £15,000 per annum. Shuropody relocated from London Street into these more cost effective premises that total 1,722 sq ft. Adrian Fennell commented that retail availability in Norwich was at a 10 year low, demonstrating the strength of Norwich as a significant regional retail centre with strong demand from retailers looking to gain representation.

September 2013

Norwich - 40 London Street and 16 Castle Meadow - Prime Shop Acquisition

Norwich - 40 London Street and 16 Castle Meadow - Prime Shop Acquisition

Acting on behalf of the current tenant, Aleks Jewellers, Roche Retail advised on the freehold acquisition ...

August 2013

Norwich - 40 London Street and 16 Castle Meadow - Prime Shop Acquisition

Acting on behalf of the current tenant, Aleks Jewellers, Roche Retail advised on the freehold acquisition of this prime retail property in London Street, Norwich. The property also comprised a separate shop unit on 16 Castle Meadow that is occupied by a local hairdresser.

Commenting on the transaction, Adrian Fennell said that he was acting on behalf of an increasing number of successful tenants that were looking to acquire their freehold interests to take advantage of low interest rates and banks willingness to lend, particularly for established businesses that were looking to acquire their own premises.

 

August 2013

Former Mark Elliot Furniture Showroom now sold

Former Mark Elliot Furniture Showroom now sold

Roche have recently sold the former Mark Elliot Showroom on the A134 (Sudbury Road) in Bury St Edmunds.

August 2013

Former Mark Elliot Furniture Showroom now sold

Roche have recently sold the former Mark Elliot Showroom on the A134 (Sudbury Road) in Bury St Edmunds.

The property, also formerly a public house was in need of extensive refurbishment after being vacant for over a year. There were many enquiries for the building whilst it was on the market for a variety of commercial uses.

The property sold for £185,000 to a well-known antiques expert and consultant valuer who is likely to use it for his own commercial purposes.

August 2013

Roche achieve successful business rates appeal - the first of its kind in the city

Roche achieve successful business rates appeal - the first of its kind in the city

Roche have successfully negotiated a business rates appeal on 21 St Stephens Street in Norwich based on the devaluing effect ...

August 2013

Roche achieve successful business rates appeal - the first of its kind in the city

Roche have successfully negotiated a business rates appeal on 21 St Stephens Street in Norwich based on the devaluing effect of the bus stop and accompanying canopy on the shop.

The appeal was first lodged in June 2011 and a 15% deduction was proposed on the 2010 rateable value, which is based on rental evidence and a valuation date in April 2008, from £45,250 to £38,450.

Various appeals had been lodged against the property and surrounding properties in the past based on the effect of a bus stop on a shop front, however all had been unsuccessful both at the discussion stage and at Valuation Tribunal. Despite this, Roche felt the case for the effect of the bus stop on the shop, which was not reflected in the rental value as of the valuation date, was a valid proposal based on the evidence.

After the process was delayed for a long period due to on-going discussions for St Stephens Street with the VOA and the Rating Surveyors Association, discussions ensued and ended with the VOA offering a 7.5% reduction on the rateable value. Roche decided given the strength of our case of evidence that we would go to Valuation Tribunal to try and achieve the full 15% reduction. The successful result however came about through further negotiations which ended a week before the Tribunal with the VOA where we received a 12.5% reduction for ‘Tunnel effect bus st/overhang'. We also had the unit re-measured which also bought the rateable value down further for a combined 15.47% decrease to £38,250.

This has meant the rate payer for the property has been refunded all overpaid business rates since 2010 and their rates liability has been lowered going forward.

Roche Chartered Surveyors can give advice on business rates and can undertake appeals for most types of commercial property in Norfolk and the Eastern region. Please contact Jackie Crisp for further information.

 

August 2013

Rates and Anti-avoidance Tactics

Rates and Anti-avoidance Tactics

Rates remain an ever topical issue for all commercial occupiers and landlords .......

July 2013

Rates and Anti-avoidance Tactics

Rates remain an ever topical issue for all commercial occupiers and landlords alike.

Most appreciate the well-established 42 day rule whereby if the hereditament is occupied, not necessarily wholly but in part, then the period of occupation of 42 days substantiates full rates being payable but thereafter, in respect of warehousing and industrial, a 6 months ‘rate holiday' is due and for shops and offices the period of rate holiday is 3 months.

By way of an example as to how little occupation will constitute a successful outcome in, 2012, Makro, the cash and carry firm deposited 16 pallets in a 140,000 sq ft warehouse and this was deemed sufficient to get the owner his 6 months statutory exemption from rates.

Latterly, others have installed Wi-Fi boxes to justify this rate holiday and this has produced mixed results.

Initially, the High Court held, in the case of Sunderland City Council versus Stirling Investment Properties, that despite the miniscule area the Wi-Fi transmitted occupied, it did indeed constitute a rateable occupation, thus a rate holiday was achieved.

However in the Public Safety Charity Trust case they installed 13 transmitters in a vacant 6,000 sq ft office. The difference here was that the charity was in occupation and they failed in their claim for charitable rates relief because the hereditament was not "wholly or mainly" used for charitable purposes. It must be stressed the difference here was the claim for charitable rate relief rather than statutory exemption.

Another scenario creating uncertainty is the fact that Wi-Fi transmitters can have their own entry in the rating list and therefore, even if they occupy a small area of a property, they would create their own rateable value, thereby leaving the remainder of the premises in which the Wi-Fi transmitter is located, vacant and liable for payment of rates.

So pitfalls and trip hazards abound for those seeking to minimise their rates bills especially when retrospective assessments can occur. In the meantime rely on the established occupation based solutions and seek advice.

July 2013

Pimms & Petanque

Pimms & Petanque

The highlight of the Roche social calendar has taken place ....

June 2013

Pimms & Petanque

The highlight of the Roche social calendar has taken place!

For the 19th year the annual Roche Pimms & Petanque Championships has taken place at Blickling Hall. Clients and fellow professionals alike enjoyed fine wine and dining and dressing up in various guises in a competitive league of petanque throughout the evening.

The event is set within the gravelled areas of the formal garden and with the back drop of the house itself it provided an incredible backdrop to the whole event. With the various interpretations of "French dressing" amidst the black berets, stripy and false moustaches, some imaginative teams added to the incongruous setting. One team turning up in full cycling gear and Bradley Wiggins side-burns and a whole clan of Asterix the Gaul! Despite it being a friendly event, competition was fierce with the winners of the first event being the team known as The Musketeers, consisting of Andrew O'Connell and Roche members, Graham Jones and Adrian Fennell. The winners of second event were Steve Brown and Mark Baxter of Real Consulting and Norwich Research Park's, Jonathan Barnard assisted by Sam Kingston of Roche. Together they had formed the small but resolute team known as the Bordeaux Bowlers.

All participants left with the setting sun over the adjacent lake and with a prize ranging from onions to champagne.

We are now looking forward to next year.

 

June 2013

New Tenant for Norwich City Centre Office Building

New Tenant for Norwich City Centre Office Building

Fostering Solutions, a national organisation with its headquarters in Lancashire ......

June 2013

New Tenant for Norwich City Centre Office Building

Fostering Solutions, a national organisation with its headquarters in Lancashire, is the new tenant of Bridge House in Fishergate in Norwich city centre. The letting was arranged by the Norwich commercial property agents, Roche Chartered Surveyors.

Bridge House is a self-contained three-storey building extending to 1,451 sq ft (135 sq m) and was previously occupied by Bush Property Management. The property was surplus to requirements following the takeover of Bush by Leaders Limited.

"Bridge House represented a relatively rare opportunity to acquire a modern, small, self-contained building in the vicinity of the traditional financial and professional office area, and also close to the recent developments at Whitefriars. Despite the office market being relatively quiet, the interest in Bridge House demonstrates on-going demand for this type of building" commented James Allen of Roche Chartered Surveyors who dealt with the letting of the property.

For further information contact james.allen@rochesurveyors.co.uk.

 

June 2013

Former Norwich Bank Headquarters now For Sale

Former Norwich Bank Headquarters now For Sale

The modern office building that was last occupied by Royal Bank of Scotland .....

June 2013

Former Norwich Bank Headquarters now For Sale

The modern office building that was last occupied by Royal Bank of Scotland and which was previously the Norwich headquarters of Virgin Bank is now available for sale. Woodland Place, Pinetrees Business Park off Salhouse Road, Norwich is on the market with a price tag of £1.7m. The building is also being offered to let at a competitive rent of £8.50 psf.

Woodland Place extends to 22,300 sq ft (2,071 sq m) and has 96 car parking spaces. The building was improved significantly by its previous occupiers and has raised floors and comfort cooling throughout, as well as an emergency power generation system for business continuity.

"With the lack of development in recent years, Woodland Place represents one of the few opportunities to acquire a well-specified, modern building of over 20,000 sq ft in the Norwich area, in a location that will benefit significantly with the future proposals of the NDR and further developments on the north-east side of the city. It represents excellent value on either freehold or letting terms", commented James Allen of Roche Chartered Surveyors, the commercial property agents that are handling the sale of the property.

For further information please contact james.allen@rochesurveyors.co.uk.

 

June 2013

Demand for freehold industrial buildings remains strong in Norwich

Demand for freehold industrial buildings remains strong in Norwich

Acting on behalf of a local private landlord, Roche have recently sold 10 Whiffler Road ......

June 2013

Demand for freehold industrial buildings remains strong in Norwich

Acting on behalf of a local private landlord, Roche have recently sold 10 Whiffler Road, Norwich to a local fabrication company-SAMS fabrications. The property is a workshop/warehouse which extends to 8,150 sq ft, with self contained yard. SAMS had been actively seeking their own premises for a number of years and the property at Whiffler Road provides a new base for this local business to expand. Roche were involved in the sale of the adjacent property last year, showing that well located freeholds are still in demand. The property was sold for close to its asking price of £425,000.

June 2013

Great Yarmouth - Market Gates Shopping Centre

Great Yarmouth - Market Gates Shopping Centre

Roche Retail have recently completed the letting of two prime shops in Market Gates Shopping Centre .... 

June 2013

Great Yarmouth - Market Gates Shopping Centre

Roche Retail have recently completed the letting of two prime shops in Market Gates Shopping Centre. The first letting was to Trespass, that occupy a prime unit at the entrance to the scheme comprising over 2,000 sq ft of retail accommodation. The second letting was to Superdrug, that comprised a total area of over 7,000 sq ft arranged over three levels. Superdrug relocated from elsewhere in Great Yarmouth and are paying a rent of £80,000 pax. These two lettings represent the most significant shop openings in Great Yarmouth over the past 12 months and reaffirms Markets Gates position as the prime retail location within the town centre.

 

Roche Retail acted throughout for the landlord. 

June 2013

Roche Celebrate 25th Anniversary

Roche Celebrate 25th Anniversary

11 April 2013 was a day to be remembered at Roche Chartered Surveyors...... 

May 2013

Roche Celebrate 25th Anniversary

11 April 2013 was a day to be remembered at Roche Chartered Surveyors.

Not only did we celebrate 25 years of being in business to the day but were also able to celebrate the contribution the founding partner, Mark Roche, had made to the business community with his retirement on the same day.

The occasion was marked by a drinks party to which former members of staff and guests from not only the Norwich business community but further afield comprising fellow professionals, clients and former clients gathered to toast the success of the firm and a standing ovation was given to Mark after his farewell speech. Mark presented the firm with an aerial photograph of Norwich, representing one of his key hobbies, flying his Auster.

May 2013

Guildford - 6 Friary Street

Guildford - 6 Friary Street

Acting on behalf of Legal & General, Roche Retail have continued the asset enhancement initiative for Friary Street ...

May 2013

Guildford - 6 Friary Street

Acting on behalf of Legal & General, Roche Retail have continued the asset enhancement initiative for Friary Street by negotiating a surrender of the existing Shakeaway shop lease at 6 Friary Street, Guildford and agreeing a new 10 year lease to T-Shirt Store that are a Swedish specialist t-shirt retailer with 16 stores in Sweden, plus stores in London and Shanghai. Guildford will be the first T-Shirt Store out of Central London.

May 2013

Distressing Times

Distressing Times

The Government has confirmed it is to restrict landlord's remedies for recovering commercial rent ....

March 2013

Distressing Times

The Government has confirmed it is to restrict landlord's remedies for recovering commercial rent. It will press ahead with the abolition of distress and the introduction of Commercial Rent Arrears Recovery (CRAR) in April 2014.

This action is important as distress is a common-law, self-help remedy allowing landlords to recover arrears of rent by seizing a defaulting tenants' goods and selling them. Landlords do not have to give any notice or obtain permission from the Court, before exercising this remedy and therefore it allows them to recover rent arrears, ahead of other creditors in a quick and efficient manner, where the tenant has valuable goods on the premises. The new CRAR narrows the scope of landlords, as whilst it allows goods to be removed and sold, new checks and balances are introduced to protect tenants.

What Landlords need to know about CRAR

• It only applies to commercial premises and does not include mixed use premises. If part of the premises are actually used for residential purposes, except if part of the premises are used illegally for residential use, then it will be termed as residential.
• Tenancies have to be in writing.
• Only "basic" rent plus VAT and interest can be recovered. CRAR will not be available for service charges, insurance charges, rates etc.
• The landlord will be required to serve "notice of enforcement" on the tenant before sending in the Bailiffs and the notice period may be seven clear days.
• The landlord will only be able to recover rent arrears above a minimum level. Such level is currently unconfirmed.
• Only an enforcement agent authorised in writing by the landlord can seize the tenant's goods. In other words, landlord can no longer seize goods themselves.
• Enforcement under CRAR can take place any day of the week which is wider than the current remedy which cannot be exercised on Sundays or public holidays.

Preparation for this change in Legislation

Keep looking out for further comment on this proposed regulation and the matters which you need to consider are :

• A general management point is, you need to carefully consider what security should be taken to protect against rent arrears.
• Pay particular attention to the drafting of the permitted use clause in leases of mixed use premises and whether it would be better to lease the commercial and residential element separately.
• If the commercial premises are held on an inclusive rent, bear in mind that only "basic" rent can be recovered and it may be wise to state in any new lease how the inclusive rent has been calculated.
• For lease renewals etc, leases will have to be updated to remove references to distress for rent.

The best defence of all where tenants owe you money is to not let them get that far in the first place! 

For further information please contact Jackie Crisp at Roche.

March 2013

Roche Advise Colman Group in Norwich Warehouse Acquisition and Rates Reduction

Roche Advise Colman Group in Norwich Warehouse Acquisition and Rates Reduction

Embodying one of our principles to give the client an holistic service as regards property, in this instance whilst we ...

March 2013

Roche Advise Colman Group in Norwich Warehouse Acquisition and Rates Reduction

Embodying one of our principles to give the client an holistic service as regards property, in this instance whilst we acquired the premises for the Colman Group, we also advised on the fairly complicated situation pertaining to the rates.

Prior to the acquisition of this accommodation, the premises were used for offices with a commensurate rateable value of £194,000.

Before the acquisition of these premises the owner/vendor had commenced removal of the heating/comfort cooling system, wc's and other fixtures and fittings. Our clients took over these works, given soon after completion of their purchase, they were to return the premises to their former warehouse use.

We made the appropriate appeals pertaining to the discontinuation of the office use and works rendering the premises capable of beneficial occupation. Subsequent to a meeting on-site with a representative of the Valuation Office, it was agreed that from the date of completion of their purchase they were not required to pay any rates given the premises were incapable of beneficial occupation and certainly could no longer be used for offices.

The next step in this matter is to ensure that the new assessment pertaining to the revised use of warehousing is pertinent.

Throughout all this we were liaising with the Broadland District Council, the charging Authority.

This saved our clients several tens of thousands of pounds.

March 2013

EGI Most Active Agent

EGI Most Active Agent

Roche Retail have won for the third year in the succession, the EGI Most Active Retail award .....

March 2013

EGI Most Active Agent

Roche Retail have won for the third year in the succession, the EGI Most Active Retail award for the whole of the East of England.

Commenting on the award Adrian Fennell, Partner and Head of Roche's Retail Department, said that "It underlines the regional dominance the retail team have built up. Clients are recognising our in-depth market knowledge by increasingly instructing Roche Retail on quality instructions throughout the Eastern Region."

Roche Retail are retained on some of the key shopping centres within the region including Market Gates in Great Yarmouth, Britten Centre in Lowestoft, The Guineas in Newmarket and Norwich's Royal Arcade.

March 2013

Landlords Beware

Landlords Beware

Just who are your tenants? .....

March 2013

Landlords Beware

Just who are your tenants?

During these times of economic uncertainty landlords must be especially wary of the name which goes on legal documentation:

• When premises are let
• Where the existing tenant seeks to sublet or assign leases
• Where a lease renewal is being documented

At each of these occasions the identity of the tenant must be clear. Why? To ensure the appropriate level of safeguards are put in place.

As an example, on a new letting the landlord needs to investigate the financial status of any ingoing tenant and either ask for a rent deposit, directors guarantees and structure any incentives so not all are front loaded. On this latter point a rent free period may be granted of 6 mths but this is timetabled to be implemented at the inception of the new lease and then at the commencement of the 3rd year.

Where a disposal of the lease is planned then the lease terms need to be checked thoroughly to confirm the status of the assignee or sub tenant complies with the requirements of that lease. Leases are usually quite prescriptive about these issues and have emanated from the provisions of The Landlord and Tenant (Covenants) Act 1995

More latterly, and in respect of lease renewals, tenants are looking to subtly alter their identity to restrict their exposure if their business fails. As another example, where a tenant previously was a party to a lease in the name of Property Co ltd., it may seek to alter the name to Property Co (Norwich) ltd. This new company may have no assets at all and the landlord stands to lose out on obtaining rent if this new company ceases to trade.

In conclusion, therefore, check and double check the identity of who you are dealing with, they may not be who you thought they were!

For further information please contact Jackie Crisp at Roche.

March 2013

New office tenant at Broadland Business Park

New office tenant at Broadland Business Park

Loveday & Partners is the latest company to move to Broadland Business Park ......

February 2013

New office tenant at Broadland Business Park

Loveday & Partners is the latest company to move to Broadland Business Park, the premier office development of its kind in the Norwich area, where Roche Chartered Surveyors is the joint agent.

Loveday & Partners has moved into a ground floor office suite of 2,240 sq ft in Lakeside 500 as part of its expansion plans. The firm provides bespoke investment solutions for private investors, trustees and business owners, offering a range of financial services advice.

"Following the latest letting to Loveday, there are now only three available office suites at Broadland Business Park, the largest being 3,630 sq ft, the lowest availability that there has been for over 5 years. This reflects the continued demand for high quality office space with parking in an established business park environment. There are opportunities for companies to acquire larger premises by way of pre-lettings of new buildings", commented James Allen of Roche.

For further information, contact james.allen@rochesurveyors.co.uk 

February 2013

Roche instructed to market prestige Norwich warehouse

Roche instructed to market prestige Norwich warehouse

Roche have been appointed to market Hyperion House on the Sweetbriar Industrial Estate in Norwich.

February 2013

Roche instructed to market prestige Norwich warehouse

Roche have been appointed to market Hyperion House on the Sweetbriar Industrial Estate in Norwich.

Hyperion House is a striking, architect-designed detached warehouse building of approximately 23,184 sq ft (2,212 sq m). The property is around 10 years old and was built by the current occupiers, Helionova Limited, to a high specification as the company's headquarters.

The property provides well-appointed offices on ground and first floor levels, including a showroom, and production/warehouse space on ground and first floor. A substantial goods lift provides access to the upper floor. Externally, there is extensive parking and yard space. The property is being offered to let or for sale on a freehold basis.

"Hyperion House is one of the most striking buildings to have been developed in Norwich in recent years. It provides excellent warehouse space with flexible, prestige offices. There are few warehouse properties for sale in Norwich and this represents an excellent opportunity for a company either seeking to purchase its own property or to lease a high quality industrial/warehouse building," commented James Allen of Roche, the Norwich-based commercial property agents.

For further information contact james.allen@rochesurveyors.co.uk

February 2013

Review of the office market

Review of the office market

‘A Very Good Yare for one Norwich Office!' .........

February 2013

Review of the office market

‘A Very Good Yare for one Norwich Office!' - a review of the Norwich Office Market in 2012 by Sam Kingston, Partner, Roche Chartered Surveyors.


As the Olympic year drew to a successful end, did the Norwich market perform as well as our athletes? Headline figures point to 2012 outperforming 2011, with 165,000 sq ft let or under offer compared with 133,000 sq ft in 2011.

The market appears to be polarising with occupiers either looking for higher quality, but more expensive accommodation or low-grade, cost-effective space.

Good-quality Grade A accommodation has generally let more readily than older refurbished stock, with rents holding. The drive towards better accommodation, which includes Broadland Business Park, Yare House, Stannard Place and St James' has seen in excess of 40,000 sq ft of space taken or put under offer in the last 12 months. This represents around 50% of the available Grade A space with noteable lettings being to J&H Bunn and Sika at Broadland Business Park and to The Broads Authority and Orbit Housing Association at Yare House. With another tenant about to take a further floor and only one floor remaining in the 32,750 sq ft building, Yare House has been the star performer in the office sector in 2012.

While the demand for high grade accommodation is driven by image, lower running costs and a better working environment for staff, Grade A space isn't seen as a necessity by all companies. Start-up businesses often look for older accommodation where landlords are willing to provide flexibility on the lease terms and lower rental costs. The drive to control overheads and flexibility provide opportunities for older premises.

Other issues over and above cost which affect the market include, location, specification, amenities and whether the property is self-contained or multi-let. All of these factors contribute to the assessment of one property over another property.

Although the market remains difficult with occupiers' property decisions driven by their overall business confidence, the activity seen in 2012 is a positive endorsement of Norwich by those companies who have committed to additional or alterative accommodation.

 

February 2013

LOWESTOFT - 91/93 London Road North - prime shop letting

LOWESTOFT - 91/93 London Road North - prime shop letting

Roche Retail have completed the letting to Greenwoods Menswear on behalf of Imperial Tobacco Pension Fund.

February 2013

LOWESTOFT - 91/93 London Road North - prime shop letting

Roche Retail have completed the letting to Greenwoods Menswear on behalf of Imperial Tobacco Pension Fund. The shop is situated in a 100% prime retail location on London Road North at its junction with The Britten Shopping Centre. The total sales area of the shop comprised 1920 sq ft and Greenwoods took a 10 year lease at a base rent together with a turnover top up.

 

February 2013

Great Yarmouth - Market Gates Shopping Centre - New Letting to Trespass

Great Yarmouth - Market Gates Shopping Centre - New Letting to Trespass

Roche Retail, acting on behalf of the owners of Market Gates Shopping Centre in Great Yarmouth, agreed a letting to Trespass ...

January 2013

Great Yarmouth - Market Gates Shopping Centre - New Letting to Trespass

Roche Retail, acting on behalf of the owners of Market Gates Shopping Centre in Great Yarmouth, agreed a letting just prior to Christmas to Trespass. The shop unit occupies a prime location at the front of Market Gates Shopping Centre facing on to Market Place and is the most significant retail letting in Great Yarmouth for 2012.

January 2013

New Management Instruction

New Management Instruction

Roche have been appointed to take over the property management of Wensum Mount Business Centre in Hellesdon, Norfolk ....

December 2012

New Management Instruction

Roche Chartered Surveyors are pleased to announce they have been appointed to take over the property management of Wensum Mount Business Centre in Hellesdon, Norfolk.

This development providing office accommodation ranging from 444 sq ft to 1,888 sq ft and available in combinations of suites, is an award winning barn conversion scheme in a countryside location. Located less than a mile from the outer ring road to the north-west of Norwich and just off the A1067 Fakenham Road, this scheme also has easy access to Norwich International Airport.

Jacke Crisp of Roche Chartered Surveyors comments "It is a pleasure to be involved in such a high quality office scheme and to manage it to the standard and detail required of the owners".

Roche Chartered Surveyors are also engaged to let any vacant accommodation.

December 2012

Lease Assignments

Lease Assignments

For landlords and tenants this is an area which is often fraught with potential pitfalls ....

November 2012

Lease Assignments

For landlords and tenants this is an area which is often fraught with potential pitfalls. Recent case law has highlighted some points which parties should be focusing on. It also provides a valuable basis for action but which is always subject to the provisions of the lease and any other relevant legal documentation.

From the point of view of the landlord:

• Don't delay
• Is any further information required? If so, ask for it
• If a deadline has been set by a tenant for a response, consider the reasons
• If you agree with the reason then comply with the deadline unless you have a good reason not to, in which case inform the tenant
• If you think the deadline is not reasonable, tell the tenant and tell them why
• Once the decision has been made as to whether or not to give consent, notify the tenant in accordance with the method set out in the lease

For the tenant:

• Ensure the application to the landlord for consent to assign is properly served, therefore refer to the lease or if this is not specific, ensure the application is served by hand or registered post at the landlord's last known place of business or to his duly authorised agent
• Make sure all supporting documentation is sent at the same time and ask if the landlord requires further information to enable a decision to be made
• Inform the landlord that he is obliged to deal with the application within a reasonable time and in accordance with the 1988 Landlord & Tenant Act
• If you have to set a deadline, tell the landlord and tell him why and note that a period of less than three weeks is unlikely to be reasonable in most cases
• Tell the landlord that if he doesn't respond by the deadline the assignment will be completed without consent

For both parties:

• Keep a good paper trail, chase as necessary by telephone and record all conversations

If in doubt, consult a surveyor or solicitor!

November 2012

Roche advise Colman Group in Norwich warehouse acquisition

Roche advise Colman Group in Norwich warehouse acquisition

The Norwich printing and stationery company, Colman Group, is set to expand into new warehouse premises at Pinetrees ...

November 2012

Roche advise Colman Group in Norwich warehouse acquisition

The Norwich printing and stationery company, Colman Group, is set to expand into new warehouse premises at Pinetrees Business Park next year. The family-owned business which currently occupies four separate properties at Avian Way on Salhouse Road, has purchased the warehouse at Pinetrees as a base for its wholesale division.

The property was previously occupied by Royal Bank of Scotland's One Account, having been fitted out as a call centre. The property extends to approximately 22,350 sq ft and is currently being converted back to its original warehouse use.

Roche Chartered Surveyors advised the Colman Group in the acquisition of the property. "Despite a reasonable supply of warehouse properties in Norwich at present, there are few opportunities to acquire modern, detached freehold buildings and therefore the availability of the Pinetrees unit represented an ideal opportunity close to Colman's existing site and will be an excellent investment for the company," added James Allen of Roche, the Norwich commercial agents.

For further information, contact james.allen@rochesurveyors.co.uk.

November 2012

Gym takes former Mini Showroom on Ber Street, Norwich

Gym takes former Mini Showroom on Ber Street, Norwich

The former showroom at 106 Ber Street, Norwich has recently been let to a local gym occupier.

October 2012

Gym takes former Mini Showroom on Ber Street, Norwich

The former showroom at 106 Ber Street, Norwich has recently been let to a local gym occupier. Sam Kingston of Roche commented, " The letting of this property demonstrates that well located premises with good accessibility and visibility will let even in difficult conditions where entrepreneurs see the benefits of these attributes. Commercial property in Norwich has seen more activity over the last six months and this can only be good news for landlords and investors."

Roche acted for the landlord, Dacre Property Holdings.

October 2012

A reaction to the latest proposals on rating by the Government

A reaction to the latest proposals on rating by the Government

The proposed two year delay in the rating re-valuation for commercial property has been met with violent reaction from a ...

October 2012

A reaction to the latest proposals on rating by the Government

The proposed two year delay in the rating re-valuation for commercial property has been met with violent reaction from a number of sources. Some even go so far as to label it, scandalous.

Every commercial property was to have been re-valued as at 1st April 2013 in preparation for the 2015 rating list which would have effect on 1st April that year. Instead, this is subject to the relevant Bill being passed in Spring 2013, the revaluation will now not take place until 2017 and following established procedures is likely to have a valuation date of 2015. Therefore the 2010 rating list, with a valuation date of 1st April 2008, will remain applicable for a further 2 years.

The relevance of the 2008 date is, that it is widely reported, rental levels in all commercial property sectors have declined since then. This is indeed the general experience of Roche Chartered Surveyors.

According to Brandon Lewis, Communities and Local Government Minister, the reason for the proposed delay is to avoid ‘sharp changes' in rate bills, hence businesses will continue to pay rates based on rents achieved in the heady days of 2008 rather than rents which reflect the current economic climate. You just have to look around some high streets to see the effect the economic situation, coupled with excessive rates bills, has had.

It is also worth mentioning at this stage, where premises are empty, the landlords are liable for empty rates based on full rates payable; another side of these inequitable proposals and which may assist to prolong vacancy rates as an example of a break on the economy.

This delay is also likely to have greater effect in the provinces where values have fallen the most, that means us in the east of the country.

The hope is the government will see sense and continue with the 5 yearly revaluation programme and allow business to pay rates based on revised values. A word of warning though, the government is expected to maintain its level of income, and if the revaluation did take place as suggested, the uniform business rate which is applied to the rateable value, will increase substantially and the spectre of transitional relief may reappear, either or both will limit the effect of lower values at 1st April 2013.

The cynics among us will suggest the government has sort to take this course of action given the potential timing for an election. Whatever, this proposal is misguided.

October 2012

Rating Revaluation 2015

Rating Revaluation 2015

It is widely reported that rental levels in all commercial property sectors have declined

October 2012

Rating Revaluation 2015

Whilst 1 April 2015 seems a long way in the future, it certainly isn't when you consider the basis for the valuation will be rental values as at 1 April 2013, only a few months away.

It is widely reported that rental levels in all commercial property sectors have declined since the last date of valuation, 1 April 2008 and in respect of the 2010 list. This is the experience of Roche Chartered Surveyors. How will this affect the rating revaluation for 2015 and more to the point, the actual level of rates payable?

Rateable values are based on market evidence. Not only have rents declined but the number of transactions has declined too. Therefore the data base upon which the Valuation Office (VOA) can rely is limited. This situation is compounded by the range of different incentives which are likely to be negotiated in favour of tenants. These incentives have to be translated to provide further comment on the rental levels achieved. For example a 12 month rent free period will have to be amortised over a relevant period of time to give the actual rent payable rather than the headline rent payable, in other words to give the true value of the transaction. The headline rent maybe £12 per sq ft but the actual value of the rent payable when all incentives have been taken into account maybe substantially less, say £10 per sq ft. It is the lesser amount which is relevant to the VOA.

If you are transacting a deal it is imperative you know the implications of filling in a return form, which may be requested by the VOA, and providing the correct information for proper interpretation. We can help.

As for rates payable, by way of background, currently the Government obtains £26bn per annum from rates in England, Wales and Scotland. This level of income is to be maintained and to enable this to be so, the multiplier (UBR) applied to the rateable values to give actual rates payable, is going to rise up until the last financial year of the current list, that is to 1 April 2015 and may reach almost 50 pence in the £.

It is unlikely the decline in rateable values at the next revaluation date will result in a commensurate decrease in Business Rates payable. It is widely anticipated after the 2015 revaluation, the UBR will also increase steeply. Alternatively, transitional relief may well be introduced to mitigate rate payers from benefiting from substantive rateable value reductions.

For further information please contact Jackie Crisp at Roche.

 

October 2012

Roche Retail dispose of freehold retail unit on Hall Road, Norwich

Roche Retail dispose of freehold retail unit on Hall Road, Norwich

Roche Retail have recently sold a former family fishmongers on Hall Road

October 2012

Roche Retail dispose of freehold retail unit on Hall Road, Norwich

Roche Retail have recently sold the freehold interest, with vacant possession, of a former family fishmongers on Hall Road, Norwich.
Roche Retail received strong interest and the shop property was sold for 30% above the asking price. The purchaser is a local owner occupier.
Lee Askew of Roche Retail commented ‘The potential purchasers were all cash buyers and a mix of investors and owner occupiers, proving there is a strong freehold market in Norwich for the right property in the right location.'

October 2012

Roche Retail let another city centre retail unit

Roche Retail let another city centre retail unit

Roche Retail have successfully let 15 St Giles Street

October 2012

Roche Retail let another city centre retail unit

On behalf of a private investor, Roche Retail have successfully let 15 St Giles Street in the popular Norwich Lanes to a new knitting and craft store, Crafty Ewe.
The unit is arranged over ground floor only and comprises 376 sq ft. Crafty Ewe have taken a new 5 year lease at an initial rental of £12,500 pax.
Lee Askew of Roche Retail commented "The Norwich Lanes are a special location for retailers and visitors alike and as such there has been a lot of interest for the unit - retail in Norwich is generally defying the economic downturn and local retailers introducing new products to fill in the consumer gaps."
Roche Retail have further units in the Norwich Lanes available to let which have just come on to the market, please use the property search or log your requirement on http://www.rochesurveyors.co.uk/property-search.

October 2012

Roche Retail Let 2A Queen's Road, Norwich

Roche Retail Let 2A Queen's Road, Norwich

On behalf of Aviva Investors, Roche Retail have successfully let 2A Queens Road

October 2012

Roche Retail Let 2A Queen's Road, Norwich

On behalf of Aviva Investors, Roche Retail have successfully let 2A Queens Road, which is adjacent to St Stephen's Street and St Stephen's Street Car Park in Norwich to new music store, Supatone.
The unit is arranged over first floor only and comprises 2,250 sq ft. Supatone have taken a new 10 year lease.
Lee Askew of Roche Retail commented "There are good opportunities to take advantage of in terms of shops to let on the market and Supatone have acquired an unusual shop in a highly visible retail location."

October 2012

Land's End to John O' Groats

Land's End to John O' Groats

Adrian Fennell, together with his two sons, Alec and William (18 and 15 years), completed a 1,047 mile cycle ride from ...

August 2012

Land's End to John O' Groats

Adrian Fennell, together with his two sons, Alec and William (18 and 15 years), completed a 1,047 mile cycle ride from Land's End to John O'Groats. The ride took 11 days and they finished on 26 July 2012.

The group, comprising one other adult and 3 further teenagers, suffered a major crash in the second mile which necessitated two hospital visits, but they managed to complete the ride raising over £7,750 for East Anglian Air Ambulance, Teenage Cancer Trust and The Clatterbridge Cancer Charity.

 

August 2012

YO! Sushi Come to Guildford

YO! Sushi Come to Guildford

On behalf of Legal & General, Roche Retail have just completed the letting of 7 and 8 Friary Street in Guildford to ...

May 2012

YO! Sushi Come to Guildford

On behalf of Legal & General, Roche Retail have just completed the letting of 7 and 8 Friary Street in Guildford to YO! Sushi. This formed the last letting in Friary Street following a comprehensive refurbishment for the entire street.

The unit is arranged over ground floor only and comprises 1,607 sq ft. YO! Sushi have taken a new 15 year lease at an initial rental of £130,000 pax.

 

May 2012

Roche sell Punch Taverns Pub, Dereham, Norfolk

Roche sell Punch Taverns Pub, Dereham, Norfolk

The property comprises an end of terrace 17th century Grade II listed public house and a former coach house building, ...

April 2012

Roche sell Punch Taverns Pub, Dereham, Norfolk

Roche acting on behalf of Punch Taverns have recently concluded the sale of The Cock Inn situated in Dereham town centre on Norwich Street.

The property comprises an end of terrace 17th century Grade II listed public house and a former coach house building, together totalling 2,872 sq ft on a site area of 0.085 acres.

The freehold interest was sold to a local purchaser.

For further information, please contact Graham Jones.

 

April 2012

Planning Application Submissions - Employment Land Studies

Planning Application Submissions - Employment Land Studies

Roche have recently been involved with assisting two separate clients in the preparation of employment land studies for ...

April 2012

Planning Application Submissions - Employment Land Studies

The current planning application process requires various surveys to be undertaken which support the proposed development. Developers and occupiers wishing to use land or premises for alternative uses or development have to ensure that their planning application is supported fully and by the correct documents. It could mean the difference between gaining or not gaining planning permission, or submitting an invalid application which costs time and money.

Roche have recently been involved with assisting two separate clients in the preparation of employment land studies for sites in Norfolk and Suffolk. The reports were required to justify that the loss of employment land would not detrimentally affect employment opportunities in the two specific towns. The projects considered supply and demand and historic take up to show that change of use would not undermine employment options.

Roche has the knowledge and expertise to be able to provide advice on employment land surveys and where required sequential tests.

For further information please contact Sam Kingston.

April 2012

Rent increases in today's market

Rent increases in today's market

Some sectors of the commercial market are faring well, especially the supermarket sector.

March 2012

Rent increases in today's market

Some sectors of the commercial market are faring well, especially the supermarket sector. With the never ending quest for market share all the operators are being innovative in their approach to the market place and also are watching each other carefully as to how they are seeking to attract more shoppers through their doors. When saturation point was thought to be reached in one supermarket format another was hatched.

From the traditional market place of the in town store came the large out of town boxes which were held to be the way forward but his market is diminishing albeit some large scale supermarkets are still being constructed. The large operators are moving into the small convenience end of the market.

With Tesco being chased hard by its competitors there seems to be a continued clamour for market share with reducing capital seemingly resulting in more frequent rental deals of increasing proportions. Good news for landlords!

March 2012

Unique and Contemporary Office to let in Norwich city centre

Unique and Contemporary Office to let in Norwich city centre

Roche have been instructed to let a self-contained contemporary office in Norwich city centre.

March 2012

Unique and Contemporary Office to let in Norwich city centre

 

 

 

 

 

 

 

 

 

 

 

Roche have been instructed to let a self-contained contemporary office in Norwich city centre.

The property is located in the heart of Norwich's ‘Creative Quarter' on Muspole Street, a peaceful and attractive area which benefits from being five minutes on foot from the city centre shops and less than one minute by car to the inner ring road. The property benefits from a coffee shop, café and gastro pub within close proximity.

The space offers character on the outside and a sophisticated and open plan environment. The accommodation provides an open plan office/studio, a boardroom, store room, toilets and kitchenette, totalling 1,030 sq ft (NIA).

To find out more about this unit or to arrange a viewing, please contact Lee Askew on 01603 756335 or email lee.askew@rochesurveyors.co.uk.

March 2012

Business Rates multiplier confirmed for 2012/13

Business Rates multiplier confirmed for 2012/13

The 2012/13 business rate multiplier used for calculating rates payable for commercial property (‘non-domestic') is ...

March 2012

Business Rates multiplier confirmed for 2012/13

The 2012/13 business rate multiplier used for calculating rates payable for commercial property (‘non-domestic') is confirmed as follows:

• Properties with a rateable value of less than £18,000 (£25,000 in London) - an increase from 42.6p to 45.0p.

• For all other - an increase from 43.3p to 45.8p.

This increase will have an affect both landlords and tenants. With the economic outlook still uncertain, potential occupants are concerned with the rates liability which they are to take on, whilst current tenant's overheads can be stretched to the limit which may affect the their ability to pay rent and increase the risk of default. Landlords with empty buildings are also responsible for rates liability (unless the building is listed) which are a burden and can prove financially challenging after a rates exemption period has ceased.

There are several ways a landlord or tenant can reduce their outgoings and ensure they are paying the fair and correct rates for their property. Roche Chartered Surveyors can advise landlords and tenants on all aspects of rating and will undertake on your behalf:


• Checking 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.
• Considering 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.
• Assessing whether your premises, if occupied in conjunction with adjoining premises, could be merged to produce a lower assessment.
• Assessing whether your property can be split to provide more appropriate assessments, for example where part of the property may be removed from the rating liability when it is not in occupation.
• Submitting and negotiating appeals as necessary after a full briefing and discussion with you.
• Roche can also provide details of strategies for reducing empty rates liability.

If you would like to find out more about how Roche Chartered Surveyors can assist you with your commercial property rates, please don't hesitate to get in touch with Jackie Crisp, our ratings surveyor.

March 2012

Receivership Sale - 38,000 sq ft Industrial Building, East Harling, Norfolk

Receivership Sale - 38,000 sq ft Industrial Building, East Harling, Norfolk

Roche acting on behalf of LPA Receivers have recently concluded the sale of a 38,000 sq ft industrial building known as ...

March 2012

Receivership Sale - 38,000 sq ft Industrial Building, East Harling, Norfolk

Roche acting on behalf of LPA Receivers have recently concluded the sale of a 38,000 sq ft industrial building known as Trident House in East Harling (near the A11).

The premises were constructed in 2005 to a high specification to suit the bespoke requirements of the previous owners and comprise a 32,000 sq ft warehouse and 6,000 sq ft of high grade offices, all within a secure site of circa 2.3 acres.

A freehold sale was agreed with local freight company Foulger Transport Limited after securing planning consent for change of use to B8 (storage and distribution).

For further information, please contact Graham Jones.

March 2012

ROCHE RETAIL COMPLETE DOUBLE SHOP LETTING FOR PRUPIM

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 ...

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

NEW IMAGE AND WEBSITE FOR ROCHE

Roche Chartered Surveyors has completed two new branding initiatives. The firm has recently launched a new website following ...

January 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

HIGH RANKING FOR ROCHE IN EGi AWARDS

Roche Chartered Surveyors was the highest ranked single-office firm in East Anglia in the leading review of commercial ...

January 2012

HIGH RANKING FOR ROCHE IN EGi AWARDS

Roche Chartered Surveyors was the highest ranked single-office firm in East Anglia in the leading review of commercial property deals concluded in 2011 by Estates Gazette Interactive (EGi). In the overall EGi rankings the Norwich-based commercial property consultants were only eclipsed by firms with representation in more than one of the regional centres.

Adrian Fennell, Roche's Head of Retail was the highest ranked individual surveyor in the region in the EGi competition. The firm already holds the award for having completed more retail deals than any firm in East Anglia in 2010.

"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

Rent Reviews - All may not be lost

It would be easy to readily accept there is little justification to instigate rent reviews in this current market. However ...

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

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 ...

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

Money from Waste!

Money from Waste!

Roche Chartered Surveyors have recently been involved in three commercial property deals relating to waste recycling centres ...

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

VOA Commercial Property Rating 2011/12

VOA Commercial Property Rating 2011/12

It is important for both occupiers and landlords to understand the implications of the 2010 revaluation, as current ...

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

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 ...

December 2011

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

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 , ...

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

Union Park, Norwich

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

September 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

Guildford - 41 High Street

Roche Retail have concluded the letting of this prime shop on Guildford High Street to ECCO Shoes. ECCO took on a new 10 ...

April 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!

Roche Win Top Regional Agent Award!

Roche Retail have won the Estates Gazette 'Top Regional Agent Award for East Anglia' in the Retail & Leisure category.

March 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

Property Valuation Matters

Valuation of property matters to us all, especially in the light of recent economic events.From past experience and having ...

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

Marstons buy in Fakenham

An important turning point for the Clipbush Lane Business Park!

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

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