Professional Services

Roche's dedicated team specialise in all aspects of professional work Landlord & Tenant (rent reviews, lease renewals and re-gears), Valuation, Property Management, Expert Witness and Rating throughout the East of England, in respect of shops, offices, factories, warehouses and land, for nationally and regionally based landlords and tenants

Rating advice is provided in respect of the management of empty rates on commercial premises and successful appeals have been made on assessments for clients.

Valuation work is undertaken for major and secondary lending institutions and international, national and local companies, primarily for the purposes of reports which are compliant with the Royal Institution of Chartered Surveyors (RICS) Valuation Standards. Roche have three RICS Registered Valuers, Jackie Crisp, Sam Kingston and Graham Jones.

Management of commercial property is a growing part of the business and Roche in taking over problem premises and turning the management round, especially liaising with tenants in the respective schemes.

Jackie Crisp, the partner who heads up the professional team, has 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.

Who to contact

Jackie Crisp

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Tel:: 01603 756331
Email:: Jackie Crisp

Press Releases

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

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 ...

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

21 and 22 Kingsway, City Trading Estate, Norwich, NR2 45UD

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

May 2017

21 and 22 Kingsway, City Trading Estate, Norwich, NR2 45UD

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

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