Whybrow News
Evening Gazette - 2nd December 2008
EXCELLENT CUSTOMER SERVICE sponsored by Clarice House.
This company has not entered this category before as it did not feel it was ready - well, it definately is. Although different to the other winners in the respect that Whybrow is predominantely a commercial company, there is still a clear respect for the importance of excellent customer care. It analyses its business extensively to know who its customers are and how they should be treated.
Whybrow has an email newsletter which keeps all customers up to date with what's what. It has questionnaires which go to all customers regarding the service received, these are all then collated and points addressed in regular 'innovation meetings' which are used for management to resolve issues. One example being altering the phone system to achieve a customer service target. On top of this, staff training is clearly very important and the monitoring of key performance indicators, by management on all staff is integral to their high standard and consistency of customer service.
It is moving forward by using Facebook and other technologies to connect with younger clients and gain customer information, feedback and ensure they are ahead of competitors.
WHYBROW WIN AWARD FOR EXCELLENT CUSTOMER SERVICE
Whybrow scooped their fourth award in four years on Friday at the Colchester & District Business Awards. Previously, winners of the Staff Training & Development Awards 2004,2005 & 2006 we are delighted to be chosen as winners in the Customer Service category.
'Winning the Excellent Customer Service Award is a wonderful achievement and a testament to the hard work all our staff contribute to the day to day running of our office.’ said Ewan Dodds BSc FRICS, Managing Director.
EMPTY PROPERTY RATES SCRAPPED
Alistair Darling, Chancellor of the Exchequer, has scrapped empty property rates for properties with an estimated value of less than £250,000 - which he says represents around 70% of empty commercial buildings in the UK.
Revealed on Monday 24th November in the pre-Budget report, the change will take effect from the financial year of 2009/10 - April next year and at the moment is only temporary. The exemption will apply for properties with a rateable value of less than £15,000.
The announcement follows months of lobbying from the industry, the British Property Federation and Property Week. But the change is not as comprehensive as hoped for by the industry.
£15,000 rateable value equates roughly to £20,000 annual rental value, according to rating experts - which means the exemption only applies for properties worth less than around £250,000 at most.
LEXDEN HOUSE ACQUIRED FOR CLIENTS
4th November 2008
Acting on behalf of NEEB Holdings Newman Commercial have sold 'Lexden House' a substantial headquarters office building of 16,100 sq ft(1,495.7 sqm) to Reader Offers Limited of Colchester whom due to their expansion will be relocating 85 staff from their current offices at East Hill. Whybrow Chartered Surveyors acted on behalf of Reader Offers on the acquisition and will also be project managing an extensive refurbishment programme on the building
WHYBROW CAN NOW BE FOUND ON FACEBOOK!
3rd November 2008
At Whybrow we closely monitor the market to ensure we are fully aware of all the latest innovations and creative thinking in the market place this in turn helps us to continually improve and adapt these services.
Part of this innovative process has lead to us establishing a page on Facebook which will provide a wider sector of the marketplace to provide feedback on our company. Please feel free to utilise this service as your comments are valuable to us.
FINALISTS FOR COLCHESTER DISTRICT BUSINESS AWARDS
28th October 2008
Following the winning of two Colchester Training awards and an Essex Training award in 2004,2005 & 2006 Whybrow are delighted to announce our selection as a finalist in the Excellent Customer Service Category of the Colchester District Business Awards which will be held at the Charter Hall in Colchester on Friday 28th November 2008.
We are passionate about providing a quality service to our clients and customers at all times and seek feedback from them following completion of all instructions to ensure that we maintain and improve the level of service we offer.
RETAIL SECTOR STILL DEVELOPING
Whybrow Chartered Surveyors are pleased to announce the successful letting of three retail premises in Colchester which contrary to widespread belief suggests that the retail sector is still developing through these difficult times.
2 Portal Precinct, Colchester comprising a mid terrace lock up shop with first floor accommodation totalling 730 sq.ft, has been let to Cosmic Tattoo Ltd. Leasehold offers for the premises were invited in the region of £12,950 per annum exclusive.
37 Eld Lane, Colchester comprises a mid terraced lock up shop with a floor area totalling 655 sq.ft and has been let to Christmas Time Ltd who will be offering seasonal goods throughout the year. The premises were let at the passing rent of £25,000 per annum exclusive.
Finally the ground floor of 32 St Botolphs Street, Colchester, an attractive period building, on the south eastern edge of the town centre, has been let to Berhanyer Tailor UK Ltd, who will be opening a man and woman prêt a porter and tailoring franchise.
48 Newland Street, Witham.
20th October 2008
Acting on behalf of Glanmore Investments Ltd, Whybrow Chartered Surveyors have secured a lease surrender from Johnson Cleaners (UK) Ltd and granted a new 15 year full repairing and insuring lease of ground floor retail premises totalling 850 sq.ft (78.97m²) to Done Brothers (Cash Betting) Ltd trading as Betfred at a commencing rent of £28,500 per annum exclusive.
Stephen Kane and Partners represented the tenant.
NEW INSTRUCTION FOR WHYBROW
8th October 2008
We are delighted to announce our appointment as agents for ROM Capital following their purchase of the 60,000 sq.ft. 50 unit factory outlet village in a multi-million pound transaction. Occupiers already include Choice, JD Sports, Mountain Warehouse, Claire’s Accessories and Thorntons.
The Centre, which is nearly 80% occupied has a footfall of nearly 16,000 visitors per week and the catchment area within a 30 minute drive time is 255,000 people.
The scheme which is situated just off the A133 trunk road is based around a central mall and benefits from over 1,000 surface car parking spaces immediately adjacent.
We will be offering a wide range of units from 560 sq.ft. to 4,500 sq.ft. on a variety of lease / tenancy basis to suit all retailer requirements.
For further details of this exciting opportunity please contact Ewan Dodds or Christopher Ware on ewan.dodds@whybrow.net / Christopher.ware@whybrow.net
NEW OFFICE DEVELOPMENT IN NORTH COLCHESTER
22nd September 2008
Whybrow Chartered Surveyors are delighted to announce the launch of an exciting new office development in North Colchester. The Point will comprise 17 new two storey office buildings ranging from 1,650 sq.ft. to 5,600 sq.ft. The buildings have been designed to the most exacting standards incorporating attractive timber / glazed cladding, comfort cooling, full accessed raised floors, double glazing and on-site car parking.
Situated adjacent to Colchester Business Park and offering immediate access to the A12 / A120 via Crown Interchange the first phase of six units will be available on a freehold or leasehold basis from December 2008. Further details are available upon request.
Whybrow are also marketing a wide range of refurbished nursery industrial units from 1,000 sq.ft. to 6,500 sq.ft. in Colchester at Moorside, Eastgates, Port Lane and at the Angora Business Park, Peartree Road on both a freehold and leasehold basis. Please contact either Ewan Dodds BSc FRICS or Christopher Ware BA (Hons) for further details.
Whybrow Secure Exciting Management Instruction.
Whybrow Chartered Surveyors are delighted to announce a number of very exciting new property management instruction.
The first of these is an appointment to manage Wellington House, one of Colchester’s most prominent office buildings on the southern edge of the town centre. Extending to 45,000 sq.ft on seven floors the property is multi let to a variety of tenants including Spicer Haart, Colchester Borough Council, Colchester Business Centre Ltd and HD Consultants. Our responsibilities are to oversee the day to day running of the property which includes the Business Centre, administration of service charges and repairs. The landlords are currently also undertaking an extensive refurbishment of the seventh floor.
The second instruction is a re appointment to manage a variety of retail / office properties in Clacton town centre for private clients, comprising a broad range of older style properties there are let to a variety of tenants including Wimpey restaurants and we are delighted to have been reinstructed in this matter having first been appointed by the family in 1989.
The third appointment involves two medical centres in Brentwood, Essex and Lichfield, Staffordshire for Healthtrak UK, a specialist developer of health care premises with over 10 years of development experience in the design, construction and management of medical centres and care homes in the UK. Both centres, were completed in 2006, and are let to tenants including Day Lewis Plc.
We are delighted to have been appointed on these three high profile instructions which adds to the extensive portfolio of commercial and residential properties we manage throughout both the region and UK. Further information and advice for any property management matter please contact Jenny Wells.
Energy Performance Certificates on Commercial Premises
A further amendment to the Energy Performance of Buildings (Certificates & Inspections) Regulations was passed on 9th September 2008. One of the key elements of this amendment is an extension of the transitional arrangements under Regulation 51 until 4th January 2009. This means that during the period 1st October 2008 to 4th January 2009 prospective sellers or landlords of commercial premises will not need to commission an EPC until after exchange of contracts with a buyer or new tenant.
For more information on the above and the other amendments to the Regulations, please refer to Statutory Instrument 2363 of 9th September 2008.
EASTER DEVELOPMENTS SECURES PRE-LET AT EASTER PARK, COLCHESTER
Easter Developments are delighted to announce a pre-letting at its new Easter Park, Colchester scheme. Unit 1, which totals 21,200 sq ft, has been let to Lubina Bedroom Company Ltd on a new 20-year lease at an annual rent of £137,800.
Construction of the 10 unit scheme has only just been completed and the agents have confirmed that Unit 6 is also under offer. The units, which range from 5,250 sq ft to 31,800 sq ft, are available on a freehold or leasehold basis and all benefit from unrestricted B1 (Light Industrial), B2 (General Industrial) and B8 (Storage and Distribution) uses. Easter are represented by commercial property consultants M3 and Whybrows.
Ewan Dodds of Whybrow comments: “This letting to Lubina is a wonderful start to the marketing of this high quality scheme. We are delighted with the current strong interest being shown in Easter Park, Colchester which endorses the fantastic location and high specification of the units available.”
Easter Park, Colchester is located adjacent to the A12 and lies within 200 yards of the new Colchester F.C. Stadium which has recently opened. Design and Build opportunities of up to 75,000 sq ft can also be accommodated on the adjacent Phase II land.
COACH HOUSE SOLD
26th August 2008
Whybrow Chartered Surveyors are pleased to announce the successful sale of The Coach House , Balkerne Close, Colchester.
The property is situated in the heart of Colchester town centre, just off Balkerne Gardens within a few hundred yards of North Hill and the High Street. The property has a which had a net internal area of 515 sq.ft and is now to be used as an office by Plant Force Limited. Offers were sought in the region of £125,000
LANDLORDS BEWARE!
25th June 2008
As from 1st July 2008 Energy Performance Certificates (EPCs) will be required for the sale or letting of commercial buildings with a floor area over 2500m2/ 26,910 sq.ft.
All commercial properties for sale or lease rent will require an EPC as of 1st October 2008.
Landlords must ensure these certificates are in place by July. Failure to do so will result in substantial delays in any exchange.
For more advice or information
please contact Ewan Dodds BSc FRICS
TWO RETAIL UNITS LET IN COLCHESTER TOWN CENTRE
1st June 2008
Despite recent speculation that retail in Colchester’s secondary locations have been hard hit by the current market, Whybrow Chartered Surveyors are pleased to announce the successful sale and letting of two retail premises in Colchester
15 Eld Lane, Colchester comprising a terraced shop with first floor store totalling 352 sq.ft has been sold to Wreds Ltd. Offers for the premises were invited in the region of £165,000.
In addition to this sale, 21 Short Wyre Street, offering sales / storage of 574 sq.ft has been successfully let to Mr T Chu who is going to be opening a new Nail Bar, at close to the asking rent of £10,000 p.a.x.
Christopher Ware of Whybrow Chartered Surveyors said ‘ The recent developments that have seen both premises occupied shows that the retail market in Colchester is still developing through what has been documented as a difficult period’
LETTING COMPLETED IN BRIGHTLINGSEA
Acting on behalf of Brightlingsea Dock and Wharfage, WHYBROW CHARTERED SURVEYORS have let a 2,300 sq.ft. industrial unit on the Shipyard Estate, Brightlingsea to BML Maintenance by way of a three year full repairing and insuring lease at a commencing rent of £8,750 per annum exclusive. BML also occupy the adjoining unit.
For further information on this or any other properties please contact Whybrow Chartered Surveyors on 01206 577667.
WHYBROW HAS A NEW LOOK
2nd May 2008
We are delighted to announce the recent refurbishment of our reception which presents a sparkling new image for the firm.
Local Commercial Property Market Holding Up
In the face of doom and gloom, deals locally are still being done. The prime market has felt uncertainties since before Christmas and institutions have been down-valuing their portfolios with banks tightening on their lending criteria and the effect will eventually be felt in the secondary markets also. However, to date, Whybrow can report that there is still activity in most sectors of the market although more caution. Although retail has suffered, there are still parties interested in taking small shops, with the traditional post Christmas gloom out of the way there is greater activity in this sector.
Auction results on good secondary investments are still showing there is a pent up demand for well let property and with the lack of stock yields still remain low although they have eased slightly.
Whilst demand for offices in the area is limited, there has been a marked rise in rental values in some of the better properties, in particular The Octagon and some take up in supply within the area.
The demand for industrial and warehouse property remains steady and recent new development in the region of small units has shown a large increase in value. The expansion of new developments at Severalls Business Park, including the Easter Group speculative development, is coming on stream and new units recently coming to the market. Also, at Clacton, a new development, the first, for some 10 years by Mantle offering small freehold units has just come to the market.
New Appointment at Whybrow
WHYBROW Chartered Surveyors have appointed Gary Reeve as an Associate Director and head of the Building Surveying & Project Management department at their Colchester office.
Gary has over seventeen years experience in the construction industry, having occupied senior roles with other consultants such as Richard Jackson plc and worked for a major insurance company. During this time he has gained extensive experience in all aspects of property surveying and has been particularly involved with project management, structural and insurance surveying.
“I am delighted to be working at Whybrow and look forward to building on the strong reputation of the Building Surveying & Project Management team over the coming months”
Valuations for secured lending decrease
The number of instructions from banks has dropped off in recent months but further activity is anticipated by banks revisiting existing loans. There has recently been more activity in valuations required for purchases and disposals where the parties are endeavouring to take advantage of the capital gains tax concession.
Empty Rates
The property industry is still trying to persuade the Government to amend plans for empty property rates. Property groups have endeavoured to persuade the Government to monitor the effects of the new legislation and, if one of the clear objectives of increased availability of space is not met, then ministers have been asked to reverse it. It is thought that in many quarters the removal of the tax relief on empty buildings will act as a break on regeneration in deprived areas. Although the legislation is intended to prevent landlords from making their buildings unusable by resorting to taking the roof off for example, it is likely that in poorer areas and with buildings which are of little value, they will resort to pulling them down.
As from 1st April 2008 empty property rates will come into effect on vacant factories and warehouses in England and Wales who will pay full rates once the property has been empty for 6 months.
Other vacant properties will be entitled to 100% relief for the first 3 months only and will be subject to full rates thereafter.
Revaluation 2010
The advanced valuation date is 1st April 2008 and the Valuation Office are busy sending out rent return forms and collating information on rents from all occupiers in preparation for the compilation of the 2010 list. The new assessments will come into effect as from 1st April 2010 and it is important that all relevant information is disclosed on the rent return forms including rent free periods and incentives given to tenants so that a true picture of the rental values as at 1st April 2008 can be apparent.
It is expected that there will be further activity in appeals against existing rateable values as the impact of the empty property rates will have an effect on rental values and the knock on effect on the assessments. However, the Government retains the whip hand as they control the uniform business rate.
Arbitration and Independent Expert Referrals Up
Since the beginning of the year Rob Weston has noted a large increase in referrals to him by the President of the RICS but sense prevails. Once the Arbitrator/Independent Expert is appointed, then the parties are embarking on additional costs which it is prudent to avoid and invariably the parties can focus on a settlement with the referral becoming the last resort.
The RICS provide an efficient Dispute Resolution Services whereby Arbitrators, Independent Experts and Adjudicators are appointed to independently resolve disputes such as rent reviews and lease renewals (through the PACT scheme).
Robert Weston is on the President of the RICS’s panel for Arbitrators and Independent Experts and regularly receives appointments to resolve rent reviews and lease renewals.
Rent Review and Lease Renewals Still Active
Landlords, on the back of an improved market until recently, have been seeking higher rents but any review is hard fought by the tenants turning towards short term leases creating an inconsistent market.
Whilst rents in most sectors have moved over the last 12 months, the increases are patchy with the industrial rents remaining fairly steady and new developments reaching higher levels. The office sector remains slow but, again, there have been increases reflected in new developments and refurbishments. Retailers are, however, finding it exceptionally difficult and in some locations rents have dropped whereas elsewhere there have been modest increases.
The market trends for most secondary properties, with one or two exceptions, have been towards short term leases and leases in excess of 10 years without a break are now relatively rare. Provisions to the Landlord & Tenant Act 1954 in the form of the Regulatory Reform (Business Tenancies) Order 2003 have made some improvements to the workings of the Act. However, provisions for expediting procedure to court and adhering to such timetables and presentations to the court are exceptionally expensive. In many cases where there are relatively small amounts of rents involved, costs are prohibitive for the party to proceed down the court route and it is sensible for them to agree matters between themselves if they are able to do so.
EPC REQUIREMENTS DELAYED
Government has restructured the deadlines for the introduction of Energy Performance Certificates. An EPC will be required for the sale or rent of commercial buildings at the following dates this year:
6th April: Commercial buildings over 10,000 m2
1st July: Commercial buildings over 2,500m2
1st October: Commercial buildings over 1,000m2
These delays to the original proposal appear to be due to a growing concern over the lack of energy assessors available to issue such certificates.
2007 Code for Leasing Business Premises
The 2007 Code for Leasing Business Premises, launched in March last year, has become a useful source of information for many tenants and small businesses. The voluntary code consists of three sections:
* Landlord requirements for code compliant leases.
* Occupiers guide.
* Model Heads of Terms.
The code was introduced to ensure all parties have access to information and guidance thus promoting fairness in commercial Leases. Although the code is voluntary this is a push from Government with the general opinion that if people don't adhere to the guide, legislation will follow. This guide is endorsed by the RICS.
A copy of the code is available at www.leasingbusinesspremises.com
EPC (Energy Performance Certificates)
The Government has released target dates for the introduction of the Energy Performance Certificate (EPC) for commercial property. By 6th April 2008, the Government has confirmed that EPC’s will be required for the sale or rent of buildings other than dwellings, with a floor area over 500m². The government encourages the production of an advisory rating at design stage as part of the building regulation approval process, but this is not mandatory. The government has also stated that by 1st October 2008, EPC’s will be required on the sale and rental of all remaining commercial buildings.
Christopher Ware Joins Whybrow
Whybrow Chartered Surveyors are pleased to announce the arrival of their new Agency Surveyor, Christopher Ware who has joined the company to work alongside Managing Director Ewan Dodds, BSc FRICS. Christopher will be dealing with commercial sales and lettings and will be based in our Colchester office
Christopher Ware, BA, has just successfully completed his BA in Human Geography at the University of Hull and is shortly due to commence further study at The Anglia Ruskin University in Chelmsford to complete a graduate diploma in Surveying.
For further information about Whybrow Chartered Surveyors please contact us on 01206 577667 or see our website at www.whybrow.net
Oak House 25, St Peters Street
Acting on behalf of Greenhawk Limited, Whybrow Chartered Surveyors have sold a freehold office building of 7,500 sq ft (696.75 sq m) with the benefit of 10 car spaces to The UK Media Group for £900,000. The purchasers represented themselves.
For further details on these units or any other properties please contact Whybrow Chartered Surveyors on 01206 577667 or www.whybrow.net
RICS Code of Practice for Service Charges in Commercial Property
The RICS Code of Practice for Service Charges in Commercial Property was introduced this year to help protect tenants by driving for openness and transparency within all procedures.
The RICS Code of Practice for Service Charges in Commercial Property was launched in April 2007, the aims being to improve the quality of service from property professionals and ensure tenants do not suffer abuse and financial inequality. Its implementation was favored over the introduction of government legislation which would have imposed many complicated controls. The positive effects of this Code of practice are starting to emerge.
„X The introduction of standard cost category headings will facilitate benchmarking across the whole industry.
„X Timetables imposed mean future occupiers should receive their service charge budgets one month before the next service charge year and reconciliations within four months of the year end.
„X More occupiers are now requesting to view service charge apportionment models.
„X Management fees are being moved away from percentage of costs incurred to a charge which better reflects the level of works undertaken.
Whybrow support the Code which is designed to promote openness, honesty and transparency in all owner/occupier communications, and we believe it brings benefits to both landlord and tenants.
However, one of the main problems is the difficulty to amend existing commercial leases to accord with the extensive provisions within the code. It has been acknowledged that further work is required in this area.
Empty Property Rates Relief
The Chancellor’s move to abolish rate relief on vacant industrial buildings creates an additional penal taxation on landlords which will further dampen the market.
The Rating (Empty Properties) Bill, published May 2007, has now limited entitlement to rate relief on vacant buildings. Most industrial, warehouse and storage properties were previously subject to 100% rate relief until they become reoccupied. From April 2008 industrial, warehouse and storage properties will pay 100% rates after six months. Most other buildings will pay 100% rates after just three months. This proposal will significantly increase costs for owners of vacant property and companies such as our investment clients, who are actively involved in the speculative acquisition and refurbishment of large industrial space as part of their business strategy. The proposal may inhibit such deals.
Industrial Building Allowance
Industrial Building Allowances are to be gradually phased out over the next four years. At present, the 4% relief on corporation tax will be reduced to zero by April 2011. Many perceive this move to be an attack on UK industry.
The latest Budget has presented the phasing out of Industrial Buildings Allowances which have been available to industrial premises for over 60 years.
At present, tax relief on new industrial buildings is available at 4% of Corporation tax, spread over a 25 year term. The phasing out of IBAs will reduce this figure to 3% from April 2008, 2% from April 2009, 1% from April 2010 with no relief available after April 2011. Many believe this move is an attack on UK industry and will discourage investment.
New Housing
The Government has introduced Planning and Housing Bills which set targets to provide 3 million new homes by 2020. Whybrow Chartered Surveyors believe this will place further pressure on the South East.
Gordon Brown has highlighted the need for increased affordable housing within his legislative program announced last week. The Government has introduced three new bills for housing and planning in the 2007-08 season. Mr. Brown wishes to meet housing needs by building over a quarter of a million more new homes, on predominately brownfield land, than previously planned. The aim is to provide a total of 3 million new homes by 2020. The annual house building target for 2016 will be raised from 200,000 to 240,000 new homes a year.
Whybrow believe this will place more pressure within the South East of England, particularly on brownfield sites either containing factories or being used for industrial purposes where profitability may be marginal.
This move may also result in the further proliferation of residential development blocks containing two-bed apartments, becoming unviable as the buy-to-let market reaches saturation.
5/9 Head Street, Colchester
Acting on behalf of Threadneedle Pension Fund, Douglas Stevens & Co and Whybrow Chartered Surveyors have sold two adjoining retail properties totalling 14,520 sq.ft. (1,349m²) over ground and two upper floors to Sportsworld Ltd in the sum of £2,350,000. No. 7/9 is with full vacant possession and No. 9 is let to Bethell & Clark and Countrywide Surveyors until 2010.
Churston Heard represented the purchaser.
4 /5 BRUNEL COURT, BRUNEL WAY, SEVERALLS PARK, COLCHESTER
Acting on behalf of Land Securities Trillium, Whybrow Chartered Surveyors have let modern industrial premises extending to 17,080 sq.ft. ( 1,586.7 sq.m.) to DHL Ltd by way of a lease expiring 23rd June 2012 at £90,000 per annum exclusive. The tenant represented themselves.
Whybrow Expands Its Building Surveying And Professional Teams!
Whybrow Chartered Surveyors are pleased to announce the arrival of two new graduate surveyors who will be joining the company to expand its thriving Building Surveying and Professional departments.
Sean York has just successfully completed his BSc (Hons) degree in Property and Surveying at Anglian Ruskin University. He will be assisting our Building Surveying Director, Scott Barlow BSc MRICS.
Mark Parbury completed his BSc degree in Real Estate Management at The Oxford Brookes University in 2006 and has enjoyed a twelve month gap before joining Whybrow as a Valuation Surveyor working alongside Whybrow’s Landlord & Tenant Director, Robert Weston BSc FRICS.
Scott Barlow commented on the new appointments as follows: “the appointment of two very capable graduate surveyors demonstrates our on-going commitment to provide the best possible service to our clients at all levels.”
Another Project Completed!
Whybrow’s Building Surveying team have overseen the successful refurbishment of Mariner House, Ipswich on behalf of Cambridge based commercial investment company, Wrenbridge. Working alongside M&E specialist MLM Consulting Engineers, the £400,000 refurbishment included the installation of VRF air-conditioning, the upgrading of the reception area, lift and toilet accommodation and re-modelling of the front entrance. The works were undertaken by RG Carter Ipswich and Sapphire Cooling Services Ltd. Tenant interest in the 20,000 sqft office building is high following the refurbishment.
2 RAYNE ROAD, BRAINTREE
Whybrow Chartered Surveyors are pleased to announce the recent sale of 2 Rayne Road, Braintree. Situated in a prominent roadside position within Braintree’s town centre, the property benefits from ground and first floor sales areas and second floor storage and has a net internal floor area of 1840 sq.ft (171 sq.m).
Whybrow, acting on behalf of a private client agreed the freehold sale at a figure in excess of £300,000 to a local retailer.
TRIBUNE HOUSE, SIR ISAACS WALK, COLCHESTER
Acting on behalf of investor clients, Whybrow Chartered Surveyors have let the self contained first floor office suite at Tribune House, Sir Isaacs Walk to In Print of Colchester. The 690 sq.ft of office space was let at £5,500 per annum exclusive.
40 ELD LANE, COLCHESTER
Acting on behalf of private clients, Whybrow Chartered Surveyors have let retail premises extending to 500 sq.ft (46.5 sq.m) to Coastguard Road on a new 10 year lease at a commencing rent of £25,000 per annum exclusive. The tenants represented themselves.
DEBTRAC CENTRE, NEEDHAM MARKET
Whybrow Chartered Surveyors have completed the acquisition of a 5 acre industrial site including 20,000 sq.ft. of mixed industrial / office accommodation for their in-house clients, S. Sacker Ltd. A planning application has been submitted for a change of use of the rear 1.5 acre yard to a waste transfer station incorporating a new 15,500 sq.ft. warehouse building. This will house the company’s waste operation which is currently based in Claydon. On-site tenants include Aqualicious Ltd, Fusion Provida Ltd and a car repair workshop and the agents are now offering vacant ground floor offices extending to 2,500 sq.ft. with the benefit of 20 car parking spaces at an asking rent of £17,500 per annum.
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