Roche Chartered Surveyors

56 Thorpe Road, Norwich,
Norfolk, NR1 1RY

Tel: 01603 619876
Press Releases

Press Releases

Here is a selection of case studies from some projects that we have worked on:

RATE PAYERS

RATE PAYERS

Hints and tips in the run-up to the revaluation ......   

February 2016

RATE PAYERS

A quick history lesson! Since 1990, Business Rates Revaluations have taken place at regular intervals, which, up until the most recent revaluation, were carried out every 5 years. The current revaluation date is set for the 1 April 2017, but keeping to sensible tradition, there has always been a preceding valuation date, usually 2 years before, called the Antecedent Valuation Date (AVD). Therefore, the prima facie evidence for the 2017 rating list will be market rents set as at 1 April 2015, nearly a year ago.  The valuation is tempered by any relevant circumstances at the actual valuation date itself of 1.4.17, such as the physical layout and use, etc.

So in advance of this revaluation, the first consequence of it is, that ratepayers are likely to see an increase in requests for information from the Valuation Office Agency (VOA) in the "forms of return". These forms have to be completed by law and ask questions which are relevant such as the rent payable, the date the rent was set, and why it was set, detailed lease information etc.  It is worth reiterating these forms must be completed by either the ratepayer or their agent.

The second consequence for ratepayers is that forecasting your actual rates payable beyond the revaluation date of 1 April 2017 is going to be very difficult. This is for the following main reasons:

  • Business Rates Payable normally increase annually in line with the RPI index.
  • However, with a revaluation, the rateable value is likely to change and the new level of Uniform Business Rate (UBR) is to be set. The UBR is the multiplier to be applied to the rateable value.

  • Transitional adjustments, which are the phasing in of new rateable values, may or may not be put in place.

The final major consequence, is that rate payers are highly likely to see a fall in rateable values, because of the fall in rental values in many sectors and parts of the country, especially in East Anglia, due to the economic recession, since the 2010 list was established using 2008 rents. Unfortunately, rates payable cannot be expected to fall in exactly the same way as the rateable values as the Government has a duty to maintain revenue and therefore the UBR is likely to offset substantive overall falls.  This situation is highly likely to be exacerbated by the use of transitional reliefs.  The exception to this scenario is in London where increased rateable values and increased UBR multiplier could result in a major effect on rates payable for those businesses located in the capital.

How can this affect the actual market rents payable now and in the future?  For example retail rental values in Southwold have increased fourfold and in Great Yarmouth they have halved during the life of the current list.  Over the life of the next list, which is likely to be for a period of 5 years, the amount of money available to tenants to pay for outgoings will remain fairly constant so monies available for rent will decrease in Southwold and increase in Great Yarmouth, thus this may have a direct effect on rental values and this should be factored into investment decisions going forward.

Publication dates of the new rateable values is likely to be September 2016 and from the start of this year, the VOA will need to value some 1.8 million non-domestic properties having a total value in the local rating lists of more than £57 billion.

One thing is hopefully certain, the principals of an appeal against any rating assessment will remain and relate to changes or inaccuracies in actual use, size, unique physical factors affecting premises and mode of occupation. 

 

Jackie Crisp

February 2016

Business Rates Update

Business Rates Update

April 1st 2015 is not just April Fool's Day ..... it is also the actual valuation date for the 2017 Business Rating ...

March 2015

Business Rates Update

April 1st 2015 is not just April Fool's Day .....  it is also the actual valuation date for the 2017 Business Rating Revaluation.  Although the new rating list will not come into force until 1st April 2017, the revised values will be based on what will then be historic values as of this April.  This ensures all properties share a common valuation date.

The basis for the revaluation will be market rental information pertinent to April 2015.  It is acknowledged not all property will have a new rent established on that day as:

The premises may be occupied by the owner, rather than rented, or  

  • There may be vacant accommodation, or

  • The passing rent may have been established at either an earlier or later date by way of a new letting, rent review or lease renewal.

However, in the majority of cases where premises have a contemporary rent, the rental evidence can be distilled into a rate per square metre, taking into account any relevant issues including the surrounding built environment, the physical characteristics of the premises, the lease terms agreed and any other pertinent factors. 

The Valuation Office Agency (VOA) will consider all the evidence that it has collated to create a tone of values specific to an area that relate to premises of the same use, with the tone being adjusted to apply to each property, to reflect its unique characteristics.

Property occupiers may be asked to provide information on their property by the VOA, and should do so as it is a statutory obligation!

So, what this means is, any occupier who agrees a rent review or lease renewal or who acquires a new lease on premises in line with market conditions  on or around 1st April this year,  may have a good indication of the new rateable value which will apply in 2017.  There is therefore extra incentive to make sure the rent is agreed at an appropriate level - to do otherwise might be doubly foolish

Jackie Crisp, FRICS, Partner, Roche Chartered Surveyors

March 2015

A11 dualling - the impact on commercial property

A11 dualling - the impact on commercial property

Norwich will no longer be the largest city that is not connected to the motorway network via a dual carriageway  ......

December 2014

A11 dualling - the impact on commercial property

The long-suffering business community and residents of East Anglia that use the A11 as a means of connecting with the wider world, can finally look forward to the imminent opening of the last dual carriageway section of this vital trunk road.

Norwich will no longer be the largest city that is not connected to the motorway network via a dual carriageway.  Journey times for people and goods will be reduced whilst predictability of arrival and delivery times will be dramatically improved.  But what impact will this have on commercial property in East Anglia?

A sudden improvement in accessibility can change distribution patterns.  The overall improvement in the accessibility of Norwich will undoubtedly enhance the City's appeal as a business location.  However for distribution, it will now be easier for companies to cover the whole of East Anglia from, say, Thetford or Bury St Edmunds which are geographically more central.  My firm is already advising logistics clients that are reviewing their operations in this way.  Therefore, a boost for warehousing in the centre of the region.

Manufacturers will find it easier to get goods to and from East Anglia.  This should reduce costs, improve service and therefore competitiveness.  Logically, I expect to see improved demand for industrial units in Norfolk and Suffolk along the A11. 

For retailers, critical considerations are catchment areas and drive-times.  Therefore the big regional centres of Cambridge and Norwich will be further boosted by being more accessible from the centre of the region, possibly to the disadvantage of smaller towns between the main cities.  Better communications within the region might also make East Anglia more attractive to big retailers such as IKEA and Decathlon as more households fall within an acceptable drive-time.

As far as offices are concerned, Norwich will be significantly enhanced, enabling it to challenge Cambridge with more credibility.  With prime office rents exceeding £30 per square foot, arguably Cambridge has become over-heated.  Norwich is roughly half this level and therefore well placed to take up the pressure.  Norwich Research Park's competitive prospects are similarly enhanced.

It will take time for the consequences of this significant improvement in our road infrastructure to work through the economy and into the commercial property market.  The overall impact will undoubtedly be positive but as improved accessibility opens up new markets, there will be greater challenges for businesses in some locations although I expect the over-riding impact to be extremely positive.

 by James Allen, Senior Partner, Roche Chartered Surveyors, Norwich 

 

December 2014

Break Clauses - Back to Square One

Break Clauses - Back to Square One

With the changes in the economy and parties to a lease having an eye to every opportunity to improve their situation and ...

November 2014

Break Clauses - Back to Square One

With the changes in the economy and parties to a lease having an eye to every opportunity to improve their situation and their business strategy, break clauses have become and continue to be a hot topic.

The drafting of leases historically, was, thought to create a water tight situation where both parties can rely on the lease to satisfy all scenarios in respect of break clauses.

However, changing times have proved this not to be the situation and case law is now prevalent and ever-changing on this matter.  The leading case in these circumstances relates to Marks & Spencer PLC v BNP Paribas Securities Trust Company (Jersey) Limited and another 2014. 

This case has recently been heard at the Court of appeal.

By way of background, a lower Court decision permitted M&S to reclaim rent paid in advance and which was relevant to the period of time after the break date itself.  This earlier decision has been swiftly over-turned by the Court of Appeal stating "...it would have been obvious to the parties before they signed up to the lease that there was a possibility that rent would have to be paid on the last quarter day in full for a period which went beyond the break date.  They would therefore have made some provision for this case".  Obviously not!!!

This latest decision does give certainty in this situation  and going forward it is evident this situation must be addressed in all future leases.  Thus if the intention is for rent after a break clause to be reimbursed it must be stated so.

Not a welcome decision for tenants but at least it gives clarity.

November 2014

Surveyors acting as Expert Witnesses

Surveyors acting as Expert Witnesses

Jackie Crisp has achieved the Advanced Professional Award in Expert Witness Evidence .....

March 2014

Surveyors acting as Expert Witnesses

Jackie Crisp has achieved the Advanced Professional Award in Expert Witness Evidence, a Masters level qualification held by no more than 150 surveyors throughout the UK and which is now the only standard recognised by the Royal Institution of Chartered Surveyors, of which she is a Fellow.

Surveyors acting in a capacity as an Expert Witness can provide evidence in lease renewal, rent review, valuation, dilapidations or other disputes. Where the surveyor is acting in such capacity the RICS Practice Statement and Guidance Note, Surveyors Acting as Expert Witnesses, clearly states the duty of the surveyor is to the judicial body presiding; the court, arbitrator or tribunal and NOT to their client. This may come as a surprise to some clients, especially when the client realises the surveyor is required to include all facts which may or may not harm their client's case.

The surveyor is required to give truthful, impartial and independent opinions to enable the judicial body to make an informed decision.

At the inception of the instructions the surveyor must ask himself if he has the knowledge, experience, qualification and training relevant to the case in question. He must also ask himself if there are any conflicts of interest, actual or perceived, which may arise out of the instruction given. If there is any cause for concern on this matter the instruction must be declined.

These are important parameters which need to be adhered to rigidly because if they are not, the weight given to the surveyors evidence is lessened or compromised.

March 2014

Roche appointed by Greene King for pub disposals

Roche appointed by Greene King for pub disposals

Greene King - one of the UKs leading pub and brewing companies has instructed Roche to act on their behalf  .....

January 2014

Roche appointed by Greene King for pub disposals

Greene King - one of the UKs leading pub and brewing companies has instructed Roche to act on their behalf in the disposal of some of their public houses in the East Anglia region. The first pub was The Beehive on Cannerby Lane in Norwich, which after only a short marketing period has now been sold to the East of England Co-op for conversion to a community food store. The latest instruction is to sell the freehold of The Little Rose public house in the popular village of Haslingfield, some 6 miles south-west of Cambridge.

Graham Jones of Roche commented that he is delighted to be able to cement Roche's relationship with Greene King, which is not only a leading regional business but also one of the most successful pub companies in the UK with a growing estate of circa 2,300 public houses. Inevitably there are some public houses within their estate which are no longer viable and by selling them not only can Greene King re-invest the money into their continued expansion but also the properties will provide opportunities to owner occupiers to acquire their own freehold premises or indeed to developers to regenerate the sites.

The appointment by Greene King marks Roche's growing presence in the regional leisure sector with other clients including Enterprise Inns, Punch Taverns, Admiral Taverns and a number of independent local and regional pub and restaurant businesses.

January 2014

Freehold Pub Sales Continue in Norfolk

Freehold Pub Sales Continue in Norfolk

"The appetite for freehold commercial property continues to grow ........"

November 2013

Freehold Pub Sales Continue in Norfolk

"The appetite for freehold commercial property continues to grow, no more so than for well-located and sensibly priced public houses", comments Graham Jones of Roche Chartered Surveyors that have just completed another successful period of pub disposals this year.

Roche have just concluded the sale of 4 public houses on behalf of long term client Enterprise Inns. These were The Fox & Hounds, The Street, Lyng which was acquired by a local investor to be re-opened as a pub, The Jolly Sailors, Pakefield Street, Lowestoft which is to be converted into a fish restaurant, The Rampant Horse, Lynn Road, Gayton which has been sold for residential development and The Falcon on Cromer Road, one of Norwich's principal arterial roads, which is likely to be converted to retail use.

The pubs offered different opportunities and ranged in size from 2,852 to 5,287 sq ft on plots from 0.41 acres to 0.77 acres.

All 4 pubs were subject to strong interest with 2 of them going to best bids and one to auction. Graham Jones adds: "each pub is unique and can require a slightly different marketing approach, tailored to the likely end-use and the market for the property in its particular location. The volume of freehold pubs coming to the market is beginning to slow and we are seeing very strong demand as potential purchasers realise that the available stock is drying up."

Roche have now acted for Enterprise Inns plc for 6 years and continue to be involved in the sale and letting of pub sites for a range of clients throughout the East Anglia region.

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

 

November 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

King's Lynn - Vancouver Quarter

King's Lynn - Vancouver Quarter

Roche Retail have secured the letting mandate on the 375,000 sq ft Vancouver Quarter .......

May 2013

King's Lynn - Vancouver Quarter

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

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

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

May 2013

Norfolk Freehold Pub Sales Continue Throughout Summer

Norfolk Freehold Pub Sales Continue Throughout Summer

Roche Chartered Surveyors leisure team have sold two more freehold public houses

October 2012

Norfolk Freehold Pub Sales Continue Throughout Summer

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

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

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

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

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

October 2012

Newmarket - The Guineas Shopping Centre

Newmarket - The Guineas Shopping Centre

Roche Retail are retained by Helical Bar to undertake the retail agency on The Guineas.  

October 2012

Newmarket - The Guineas Shopping Centre

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

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

 

October 2012

Aberdeen Property Investors - Unit C Frenbury Industrial Estate, Norwich

Aberdeen Property Investors - Unit C Frenbury Industrial Estate, Norwich

Roche acting on behalf of Aberdeen Property Investors have been instrumental in marketing Unit C Frenbury, a 41,000 sq ft ...

November 2011

Aberdeen Property Investors - Unit C Frenbury Industrial Estate, Norwich

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

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

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

November 2011

Legal & General - Royal Arcade, Norwich

Legal & General - Royal Arcade, Norwich

For the past seven years Roche Retail have provided asset management, agency and professional advice to Legal & General ...

November 2011

Legal & General - Royal Arcade, Norwich

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

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

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

November 2011

Miller - Great Yarmouth, Market Gates Shopping Centre

Miller - Great Yarmouth, Market Gates Shopping Centre

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

November 2011

Miller - Great Yarmouth, Market Gates Shopping Centre

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

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

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

November 2011

Tesco - Campbells Meadow, King's Lynn

Tesco - Campbells Meadow, King's Lynn

Roche Chartered Surveyors are acting for Tesco Stores in providing advice on the letting of commercial units which are to be ...

November 2011

Tesco - Campbells Meadow, King's Lynn

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

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

November 2011

HCL - Yare House, Norwich

HCL - Yare House, Norwich

Roche have acted for the owners of Yare House for a number of years having previously sold the investment to Indigo ...

November 2011

HCL - Yare House, Norwich

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

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

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

November 2011

ATB Laurence Scott - Gothic Works, Norwich

ATB Laurence Scott - Gothic Works, Norwich

Roche have provided strategic property advice to ATB Laurence Scott, one of Norwich's iconic manufacturing businesses. This ...

November 2011

ATB Laurence Scott - Gothic Works, Norwich

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

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

November 2011

Dencora - Clipbush Lane, Fakenham

Dencora - Clipbush Lane, Fakenham

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

November 2011

Dencora - Clipbush Lane, Fakenham

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

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

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

November 2011

27 Castle St, Norwich

27 Castle St, Norwich

Acting on behalf of the Receivers we manage this large, standalone block of shops with vacant offices on the upper floors. ...

November 2011

27 Castle St, Norwich

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

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

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

November 2011

Amari Group - Haldin and Jacquard House, Norwich

Amari Group - Haldin and Jacquard House, Norwich

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

November 2011

Amari Group - Haldin and Jacquard House, Norwich

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

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

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

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

November 2011

Lovewell Blake - Broadland Business Park, Norwich

Lovewell Blake - Broadland Business Park, Norwich

The largest office letting in the Norwich area this year, regional accountancy firm, Lovewell Blake has leased two floors ...

November 2011

Lovewell Blake - Broadland Business Park, Norwich

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

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

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

November 2011

C & J Clark - 39 High Street, Leighton Buzzard

C & J Clark - 39 High Street, Leighton Buzzard

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

November 2011

C & J Clark - 39 High Street, Leighton Buzzard

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

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

The property is currently under offer.

November 2011

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

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

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

November 2011

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

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

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

November 2011

Aviva - St Stephen's Street, Norwich

Aviva - St Stephen's Street, Norwich

Roche Retail act on behalf of Aviva providing all the agency advice on their St Stephens Street ownership. This has involved ...

October 2011

Aviva - St Stephen's Street, Norwich

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

October 2011

X leisure - Riverside, Norwich

X leisure - Riverside, Norwich

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

October 2011

X leisure - Riverside, Norwich

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

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

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

October 2011

BNP Paribas - King St, Norwich

BNP Paribas - King St, Norwich

Changes in ownership, refurbishment of premises, and growth of the management function, plus a myriad of other reasons, have ...

October 2011

BNP Paribas - King St, Norwich

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

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

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

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

October 2011

East of England Co-op - Hall Rd, Norwich

East of England Co-op - Hall Rd, Norwich

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

October 2011

East of England Co-op - Hall Rd, Norwich

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

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

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

October 2011

Legal & General - 43 High Street, Guildford

Legal & General - 43 High Street, Guildford

Acting on behalf of Legal & General, in October 2011 Roche advised on the purchase in of 43 High Street Guildford which ...

October 2011

Legal & General - 43 High Street, Guildford

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

October 2011

48 London Street, Norwich

48 London Street, Norwich

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

September 2011

48 London Street, Norwich

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

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

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

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

September 2011

Fosters Solicitors - Bank St, Norwich

Fosters Solicitors - Bank St, Norwich

Fosters Solicitors occupy the prominent corner of Bank St and Bank Plain in Norwich city centre. We were instructed to ...

September 2011

Fosters Solicitors - Bank St, Norwich

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

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

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

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

September 2011

Enterprise Inns - 164 Cromer Road, Norwich

Enterprise Inns - 164 Cromer Road, Norwich

Acting on behalf of Enterprise Inns PLC, Roche agreed the letting of this former pub to Tesco Stores Limited on a new 20 ...

August 2011

Enterprise Inns - 164 Cromer Road, Norwich

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

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

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

August 2011

27 London St, Norwich

27 London St, Norwich

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

August 2011

27 London St, Norwich

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

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

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

We are also retained as letting agent for the landlord.

August 2011

Enterprise Inns - 131 Colman Road, Norwich

Enterprise Inns - 131 Colman Road, Norwich

Roche were instructed to sell the freehold interest of this former pub on behalf of Enterprise Inns PLC. Following very ...

June 2011

Enterprise Inns - 131 Colman Road, Norwich

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

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

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

June 2011

13-15 Cathedral St, Norwich

13-15 Cathedral St, Norwich

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

June 2011

13-15 Cathedral St, Norwich

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

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

The offices are now let and income producing.

June 2011

Telereal Trillium - Yarmouth House, Great Yarmouth

Telereal Trillium - Yarmouth House, Great Yarmouth

Reflecting its involvement in significant office properties throughout East Anglia, Roche has been instructed by Telereal ...

June 2011

Telereal Trillium - Yarmouth House, Great Yarmouth

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

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

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

June 2011

North Norfolk District Council - North Norfolk

North Norfolk District Council - North Norfolk

Roche were pleased to have been appointed to carry out CIPFA and RICS Valuations Standards compliant valuations on 121 of ...

April 2011

North Norfolk District Council - North Norfolk

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

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

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

April 2011

Decco - Rosary Road, Norwich

Decco - Rosary Road, Norwich

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

March 2011

Decco - Rosary Road, Norwich

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

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

The site is now ready for residential development.

March 2011

J & H Bunn - Great Yarmouth

J & H Bunn - Great Yarmouth

Towards the end of 2010 and early 2011, J & H Bunn Ltd requested a valuation of their extensive portfolio which enabled ...

January 2011

J & H Bunn - Great Yarmouth

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

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

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

January 2011

Advanced Professional Award in Expert Witness Evidence for Jackie Crisp

Advanced Professional Award in Expert Witness Evidence for Jackie Crisp

Jackie Crisp, a Partner in Roche Chartered Surveyors of Norwich, has recently achieved an Advanced Professional Award in ...

January 2011

Advanced Professional Award in Expert Witness Evidence for Jackie Crisp

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

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

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

January 2011

Hamlin Electronics - Saw Mills Road, Diss

Hamlin Electronics - Saw Mills Road, Diss

When the American company, Hamlin Electronics developed a new purpose-built factory of 64,000 sq ft (5,958 sq m) on a 3.7 ...

August 2010

Hamlin Electronics - Saw Mills Road, Diss

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

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

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

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

August 2010

Enterprise Inns - Plumstead Road, Norwich

Enterprise Inns - Plumstead Road, Norwich

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

March 2010

Enterprise Inns - Plumstead Road, Norwich

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

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

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

March 2010

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