Roche Chartered Surveyors

56 Thorpe Road, Norwich,
Norfolk, NR1 1RY

Tel: 01603 619876
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Roche Sell Major Office Investment

Roche Sell Major Office Investment

Roche chartered surveyors have completed the sale of a regional office portfolio on behalf of a private investor........

November 2018

Roche Sell Major Office Investment

Roche chartered surveyors have completed the sale of a regional office portfolio on behalf of a private investor. The sale included premises in Norwich, Newmarket and Bury St Edmunds with four buildings totalling  80,000 sq ft.

 

The properties were a combination of multi let and single occupied and included Yare House, Norwich, Suffolk House Newmarket and St Edmunds House, Bury St Edmunds. The total rent roll was in the region of £1.1m and the yield achieved was around 7.85%.

 

Sam Kingston of Roche commented “ This portfolio was sold off market with strong interest from the 3 funds we approached. The quality of the buildings, tenants and nature of the individual locations made it an attractive proposition and with office accommodation providing a better rate of return than industrial properties and with the supply of accommodation reduced, the opportunity for rental growth provides potential for better rates of return on the capital invested.

November 2018

Roche Retail Appointed Letting Agents for Castle Mall Shopping Centre

Roche Retail Appointed Letting Agents for Castle Mall Shopping Centre

Roche Retail have been appointed letting agents for the 400,000 sq ft Castle Mall Shopping Centre in Norwich........

September 2018

Roche Retail Appointed Letting Agents for Castle Mall Shopping Centre

Roche Retail have been appointed letting agents for the 400,000 sq ft Castle Mall Shopping Centre in Norwich that comprises 87 retail units, a dedicated 6 unit food court with 450 seats, a 6 unit casual dining terrace and a 8 screen Vue cinema. Adrian Fennell commented that ‘he is delighted that Roche Retail have been awarded this significant retail and leisure instruction which has recently seen a new dining terrace open on Timberhill with openings to Cocina, Veeno and Bourgee and a new dedicated leisure quarter being implemented with recent signing to Superbowl. Castle Mall is the go to retail and leisure destination in Norwich and we are proud to be associated with Castle Mall’s continued success and evolution’

September 2018

NEW APPOINTMENTS AT PROPERTY FIRM ROCHE

NEW APPOINTMENTS AT PROPERTY FIRM ROCHE

Roche announce appointment of two new Associates ...... 

May 2018

NEW APPOINTMENTS AT PROPERTY FIRM ROCHE

Award-winning Norwich commercial property consultants, Roche Chartered Surveyors have announced the appointment of two new Associates and the next chapter in the firm's leadership, ahead of its 30th anniversary later this month.

Specialist Building Surveyor, David Hall and Graham Jones have both been promoted to Associate. David Hall joined Roche in early 2017 and has expanded the firm's Building Surveying activities, providing a wide-range of services including surveys, dilapidations, project management and refurbishments, as well as advising on reinstatement costs and planned maintenance on commercial property throughout East Anglia. Graham Jones, who rejoined Roche last November, is expanding the firm's activities in the leisure and licensed sectors along with other specialist property including student housing and care homes. Graham is also an RICS Registered Valuer.

'David and Graham's promotions to Associate are richly deserved, reflecting both their reputations as well-established professionals and the on-going expansion of the firm,' commented Roche's senior partner, James Allen. 'We now have a team of eight professional staff and as the largest specialist commercial firm in Norfolk, our client base and activities continue to expand as we approach our 30th anniversary this month.'

As Roche embarks on its fourth decade, it has also announced that Sam Kingston will become Managing Partner and succeed James Allen in leading the firm. 'It was a great honour to succeed our founder Mark Roche in 2009 at what was a challenging time for commercial property through which the firm has emerged with a larger and stronger team. As we embark on our next chapter, now is an appropriate time for Sam to lead the firm as Managing Partner. I am looking forward to continuing as a partner and to working with our existing and future clients,' commented James Allen.

Roche will be marking its 30th Anniversary later this month, and the celebrations will be boosted by news of its latest award from the industry-respected Estates Gazette in retaining the accolade of East Anglia's Most Active Retail Agency which Roche has now held for an incredible 8 years in succession. The firm has also won the Estates Gazette award to Norfolk's Most Active Agent for the last 5 years. 'Retaining the Estate Gazette Retail award for the whole of East Anglia for 8 years in succession is a terrific achievement for a single-office firm and is a great tribute to Adrian Fennell and the rest of our team that are involved in our retail activities throughout the region,' added Sam Kingston.

May 2018

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Roche Sell Major Office Investment

Roche Sell Major Office Investment

Roche chartered surveyors have completed the sale of a regional office portfolio on behalf of a private investor............

November 2018

Roche Sell Major Office Investment

Roche chartered surveyors have completed the sale of a regional office portfolio on behalf of a private investor. The sale included premises in Norwich, Newmarket and Bury St Edmunds with  four buildings totalling  80,000 sq ft.

 

The properties were a combination of multi let and single occupied and included Yare House, Norwich, Suffolk House Newmarket and St Edmunds House, Bury St Edmunds. The total rent roll was in the region of £1.1m and the yield achieved was around 7.85%.

 

Sam Kingston of Roche commented “ This portfolio was sold off market with strong interest from the 3 funds we approached. The quality of the buildings, tenants and nature of the individual locations made it an attractive proposition and with office accommodation providing a better rate of return than industrial properties and with the supply of accommodation reduced, the opportunity for rental growth provides potential for better rates of return on the capital invested.

November 2018

Roche Retail Appointed Letting Agents for Castle Mall Shopping Centre

Roche Retail Appointed Letting Agents for Castle Mall Shopping Centre

Roche Retail have been appointed letting agents for the 400,000 sq ft Castle Mall Shopping Centre in Norwich.......

September 2018

Roche Retail Appointed Letting Agents for Castle Mall Shopping Centre

Roche Retail have been appointed letting agents for the 400,000 sq ft Castle Mall Shopping Centre in Norwich that comprises 87 retail units, a dedicated 6 unit food court with 450 seats, a 6 unit casual dining terrace and a 8 screen Vue cinema. Adrian Fennell commented that ‘he is delighted that Roche Retail have been awarded this significant retail and leisure instruction which has recently seen a new dining terrace open on Timberhill with openings to Cocina, Veeno and Bourgee and a new dedicated leisure quarter being implemented with recent signing to Superbowl. Castle Mall is the go to retail and leisure destination in Norwich and we are proud to be associated with Castle Mall’s continued success and evolution’

September 2018

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

October 2017

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