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LOCAL PROPERTY CONSULTANTS' FIRST QUARTER SIGNAL BROADENING MARKET RECOVERY AFTER LONDON BOOM

Monday, 16 June 2014

Whybrow a leading Essex Chartered Surveyors announces their best quarterly result in a decade from exceptional transaction figures achieved in the County, including the agreement of sales on several specialist London properties.

Two of these transactions have been for long established clients, the Norfolk and Suffolk Mental Health NHS Trust another on whose behalf a 4.5 acre site with planning permission for 65 houses has been sold in the attractive village of Kedington, near Haverhill, Suffolk to Bloor Homes in a multi-million pound transaction following significant competition after a formal tender process. In Stowmarket, Whybrow has also acquired the freehold interest in the former Haymills office from the Receivers PWC at close to the asking price of £700,000. Extending to some 9,000sq.ft and with around 36 car spaces, the building will house and centralise the Trust’s local servicing team. Hazells represented the vendor.

Within Colchester, and after considerable delays and a 15 month Judicial Review process, Whybrow has completed the sale of a substantial 26,000 sq. ft property for an International client on a 0.6 acre site close to Castle Park and the historic Dutch Quarter to Premier Inns, where planning consent has already been obtained for a new 90 bedroom hotel at a price in excess of £1.1m. MP Real Estate advised the purchaser.

Further afield, Whybrow has also concluded the acquisition of a new warehouse of just under 10,000sq.ft close to Heathrow for clients, Whytecliffs of Dover by way of a 5 year lease from HSBC Bank Pension Trust (UK) Ltd to aid their expansion and development of the business. Whybrow has also been instructed by a national charity to sell a portfolio of properties, including two churches in West London designed by the famous architect Sir Edward Maufe.

In a positive sign of the property market recovery, the most significant jump in Whybrow’s activity this quarter has been with the sales of several of these London properties, a new and growing market for the business. Following tremendous interest, with viewings reaching as high as 70 per property, sales have now been concluded on two of these properties in West Ham and Acton, with terms agreed on the balance of the portfolio in Clapham, Acton, Romford and also in Gillingham, Kent.

Ewan Dodds bsc frics, chief executive officer at Whybrow, who has headed these transactions in Essex, Suffolk and London, attributes these successes to the strategic development of the business and our people over the past 12 months, the route and channels to market being deployed to promote the properties and our growing and loyal client base. Ewan Dodds commenting on the improvements in the property market said “We are also experiencing strengthening demand as a result of Permitted Development rights in in Essex for vacant office buildings with sales agreed on substantial buildings from 9,000sq.ft to 15,000sq.ft already agreed this year, sites from 1 to 4 acres sold to McDonalds and Inchcape plc and terms now agreed on sites of 2 to 4 acres again for dealerships and residential development.”

 Ewan Dodds concluded “Whybrow has high aspirations for 2014, and we are expanding the agency, management and building surveying departments to accommodate the growth we are experiencing in the sector in Cambridge, Chelmsford, Ipswich, after London. Who knows what the future holds, but we do know that this future is very exciting indeed.”

ENDS

Established in 1985, Whybrow is a progressive firm of chartered surveyors which provides property consultancy and advice to national and regional businesses with a focus in London, the South and the Eastern regions.

Whybrow applies its regional experience and commercial property acumen to deliver commercial advantage to its clients.

Our understanding of property and real estate management, professional services, project management, sales and acquisition is unrivalled in our market and our emphasis on the personal delivery of our services strengthens our lasting relationships with our clients.

For Further Information:

Ewan Dodds md

01206 577667

ewan.dodds@whybrow.net

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