Author Archives: Pete Keyworth

  1. NG scores a retail hat-trick in Grantham

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    As the East Midlands’ commercial property specialists, we have recently pulled off a triple deal at a busy parade of shops in a Lincolnshire market town, showing that independent retail is alive and kicking.

    Acting on behalf of a private client, surveyor Suzannah Adcock has simultaneously carried out a new letting, rent review and lease renewal on the portfolio of retail units on Welby Street in Grantham.

    Suzannah said:

    “I have recently been dealing with the portfolio to increase the rent. I have carried out a new letting, lease renewal and rent review on the parade which has increased the total rent by 9.73% which will increase the investment value.”

    The portfolio of shops on Welby Street consists of a hairdressers, a barbers and a nail bar. The new letting was to Just Jentz, who have taken a 10-year lease.

    Suzannah added:

    “This is a great result for our client and illustrates NG Chartered Surveyors’ expertise in all aspects of property management. We look forward to working with our client on the portfolio in the future.”

    If you’re looking to open your next premises, start your property search with us today. Alternatively, for the latest news in the property industry, head on over to our blog.

  2. Double deal at Sherwood Energy Village shows off NG expertise

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    We’ve recently completed a double deal on Rufford House at Sherwood Energy Village.

    After our director Sunny Landa sold Rufford House last year, director James McArthur has now let the premises on a five-year lease to Independent Civils Limited, a builders merchants, on behalf of the new private landlord client.

    The property is located in the heart of the Sherwood Energy Village, a 91-acre redevelopment of the former Ollerton Colliery site which closed in 1994.

    James said:

    “I bought this property off Sunny last year for a management client of mine. This deal saw us acquire a vacant property that lead to an agency instruction and now the letting has completed we are now managing the property. It’s a deal which perfectly shows off the full 360 capability of NG.

    “The client is a longstanding client of ours who has a diverse portfolio of property from retail parades, to industrial estates to single industrial units. He is always looking for more – and we’re happy to help him.

    A statement from the landlord said:

    “It’s great to be able to rely on NG who have become a ‘one-stop-shop’ for my property portfolio. The whole team has the experience to deal with all my needs and I couldn’t be happier. I look forward to working with James and the NG in the future.”

    Start your property search with us today, or for the latest news in the property industry, check out our blog.

  3. NG named as cream of the East Midlands property crop

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    Last Thursday night we were recognised as one of the best five property companies in the East Midlands – something we’re incredibly proud of.

    This is some feat considering we’ve only been around for six years in our current form, since we led a management buy-out and moved from the city centre to our offices in the heart of West Bridgford.

    Over the last six years, turnover at NG has doubled through organic growth brought about by sheer hard work, and our team numbers have risen to 12 professionals. We’ve invested in talent, and now our clients are reaping the rewards – and so are our staff, as we’re now an accredited RICS Inclusive Employer, the first firm in Nottingham to secure this accreditation.

    And yet on the night of the East Midlands Business Masters Awards in Nottingham, NG were rubbing shoulders with companies, who between them, have hundreds of years of experience in business.

    It begs the question: how have we risen so quickly to become one of the most prominent commercial property agencies in the East Midlands? Rewind six years and our vision was one of measured growth; we aren’t trying to be the biggest firm in the region, and we have consciously decided not to go down this route so that we can maintain sense of duty to our client who have come to expect a personal service.

    We put this fundamentally down to one thing: our people. We continue to offer our staff pathways to improve themselves and, therefore, the service we can offer to our clients.

    We don’t simply hire for hiring’s sake, either. If we want to expand and think we need to bring fresh ideas and energy into the business, we take our time and hire the right person at the right time.

    We want our staff to feel empowered, we treat our people like grown ups, we tailor their working week around their own needs without compromising on what we can deliver for clients. We apply their knowledge and experience to grow our client base and to offer it the very best advice there is. What we don’t do is try and fit square pegs in round holes; everyone loses: the company, the employee – and, most importantly, the client.

    It’s also important to us that our staff use their individual personalities while dealing with clients. We are different to other firms, we have a unique mix of diversity and compatibility, our team’s mix of different personalities and styles is a true asset to NG. We show ourselves for who we are and do everything with confidence and a dash of personality. All too often when dealing with our larger counterparts, clients will feel like they’re being passed around a line of automatons – deal with NG and you get straight to a team that has decades of experience, but also knows when to cut the crap and get on with the deal!

    So, if you’re looking for a commercial property, start your property search with us today. Alternatively, for the latest news in the property industry, head on over to our blog.

  4. NG clinches multimillion-pound deal for former foundry site

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    We’ve recently completed the sale of the former JVM Castings site in Tamworth after a period of intense marketing.

    Richard Sutton, director at NG, acting on behalf of the family owners of the site, completed the sale of Borman Eighty One, brokering a multi-million pound deal with private investors, represented by Sam Sutton of Phillips Sutton Associates of Leicester.

    The deal comes after the decision to close the JVM Castings site.

    Richard said:

    “The former JVM site extends to over 85,000 sq ft on the Lichfield Road Industrial Estate close to the town centre, and attracted high levels of interest.

    “We quickly initiated an innovative marketing strategy to identify buyers for this site, which is in a prime location in Tamworth and has an established use for Class B2.

    “Sites such as this one don’t come along very often, but when they do we make sure our clients get the best possible deal – and this was no exception. It might the end of an era for JVM Castings, but we’re sure it’s the start of a new one for the site’s new owners and we wish them all the best.”

    Sam Sutton of Phillips Sutton said:

    “We were delighted to acquire this building for our client in such a short time frame. We knew they were looking for vacant warehouses that are in need of some TLC and this fitted the bill perfectly. We were also aware that they owned the building next door, so the opportunity was too good to miss for them.”

    The Borman Eighty One site sits on the Lichfield Road Industrial Estate, an established industrial location within the town. The Apollo and Lichfield Road Industrial Estates lie to the northwest of the town centre and to the north of the A51 (Lichfield Road).

    Apollo is the main road running through the centre of the estate with Borman accessed directly off the spine road.

    Start your property search with us today, or for the latest news in the property industry, head on over to our blog.

  5. NG seals deal to bring much-needed apartments to Wolverhampton city centre

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    We’ve recently acted as joint agent on a deal that will see a former Wolverhampton office building transformed into a residential scheme.

    Working with James Bird at joint agent Bulleys, Charlotte Steggles of NG sold the 11,650 sq ft offices at George House to Thomas Mann of of Lea Manor Homes who will be behind the plans to add much-needed residential space in Wolverhampton city centre.

    Charlotte said:

    “Wolverhampton is very attractive to developers such as Lea Manor Homes, due to the excellent commuter links in and out the city.

    “Our in-depth market intelligence was invaluable, and, coupled with our proactive approach to marketing, meant a swift result for our client – and the new owner.

    “The forthcoming £55 million leisure-led Westside scheme will undoubtedly make the new apartments incredibly desirable and ‘the place to be’, and we wish Thomas all the best with his new development.”

    Westside will also have a multiplex cinema, a 10-pin bowling alley, a trampolining centre and an adventure golf centre. it will be completed by 2021.

    Thomas Mann said:

    “I bought this property to convert it to residential as it is city centre, in a great location and close to the new Wolverhampton Westside development.

    “Working with NG surveyors was good; they were very professional and prompt.”

    Whether you’re searching for commercial or residential property, start your property search with us today. Alternatively, for the latest news in the property industry, head on over to our blog.

  6. Owning Commercial Property vs Residential: Which is Best?

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    Property has always been an extremely popular asset for UK investors. However, with the Investment Association’s (IA) decision to split the property sector into two sectors (Direct Property and Property Other), effective from 1st September 2018; some investors are left questioning whether they should invest in residential or commercial property.

    Commercial real estate vs residential real estate

    Both have their own benefits and risks, so it’s important that you are 100% clear on the differences between the two, before you make a decision as to which one you’ll invest in.

    In this article, we’re going to take a look at the differences between owning commercial property vs residential, so that you have all the information you need to make an informed investment decision.

    Commercial vs residential: potential

    What causes specific property to be an investment opportunity? It’s based on a variety of factors, and these differ between commercial and residential real estate.

    For residential property, the potential of an investment is largely down to the characteristics of your chosen location, including economic growth, locality to good schools or universities, employment rates, average wages, and of course, access to finance. Desirable places to live drive higher prices.

    Commercial property carries less emotional factors. Often, it simply comes down to having a secure tenant in an established location; making these investment opportunities down to economic growth and products.

    Commercial vs residential: knowledge

    Many investors (especially those that have not invested before), will opt for residential, simply due to the familiarity of understanding the steps of purchasing this type of property, as most will already own their own homes.

    The most common route for residential property investment is buy-to-let, with many first time investors pulling equity out of their own home, in order to gather together the deposit needed for a buy-to-let investment scheme.

    When you compare investment in commercial property vs residential, the commercial sector is less emotive, for the simple reason that it’s professionally managed; and you can work with commercial property agencies like ourselves to ensure the smooth running of your property.

    It’s also important to remember that you can’t purchase residential properties via the SIPP route, which is one of the most common vehicles for commercial property investment purchases.

    The fact that commercial property can be acquired through professionally managed funds makes the whole system more transparent, which can be easily managed, even on a larger scale.

    Be aware that residential property can be a bigger commitment – you’ll have to manage your time and money carefully. Ongoing maintenance, repairs and refurbishments will be taken out of your profit – whereas refurbishment costs in commercial properties are covered by dilapidation settlements.

    Residential properties also see a faster turnover of tenants compared to commercial properties, so you’ll need to account for potential short periods of non-rentals, in between one tenant moving out, and another moving in.

    Commercial vs residential: costs

    People are attracted to residential property investment as they feel it’s more straightforward than commercial property, but investors need to be aware of the time that’s involved with residential property – not to mention potential changes to regulations and policies, and rising costs such as fees and taxes.

    Ultimately, it’s much more difficult for investors to secure a residential “project” that will give them a huge return on investment, by renovating and selling the place. Why? Because housing prices have risen so much. House prices have risen by almost 50% in the last ten years, which is much higher compared to the inflation of wages.

    Of course, when comparing investment in commercial property vs residential, commercial property comes with its own set of costs to navigate too. You’ll need to speak to commercial property consultants so that you can navigate the purchase, lease, tax and contracts you’ll need to take into consideration, so that you can minimise the risk of investment.

    Think of it this way: scaling up can be more effective for commercial properties. However, you need to be extremely careful when it comes to valuations. The price of a small office compared to a similar sized flat is likely to be significantly higher, and remember that prices of two similar offices and warehouses can vary wildly. You’ll need an expert in commercial property valuations to price up your potential new investment for you.

    For more information on how you can finance your commercial property investment, head on over to our article about commercial property investment tips.

    Final thoughts

    Investing in property can bring huge rewards, if done correctly. However, there are so many aspects you need to consider, including costs, complications and potential opportunities.

    When comparing owning commercial property vs residential, they each bring their own set of risks and rewards. If you want to find out more about owning commercial property, or need help managing your commercial property, get in touch with us today. Alternatively, for the latest news in the property industry, head on over to our blog.

  7. Commercial property investment tips for the first time buyer

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    Investing in commercial property can be daunting, especially if it’s your first time. You want to ensure you pick the right property for the right price, so you can maximise your return whilst minimising your risk.

    In 2016, the UK commercial property market was valued at £883 billion, representing 10% of the UK’s overall net wealth.

    If you want to invest in commercial property, please take some advice on where to start, and read our five essential commercial property investment tips.

    What is commercial property investment?

    Commercial property investment refers to an investor who purchases a property to be solely used by businesses; and this includes (but is not limited to) offices, warehouses and retail stores.

    1. What level of investment and return do you want?

    Like you would when investing in a residential property, the first thing you need to consider is how much you can actually afford to spend on a commercial property – not forgetting any additional ongoing costs you’ll be subject to for the duration of the investment.

    Once you’ve determined the maximum amount you can spend, you can begin your property search, to see the types of commercial property your budget can cater to.

    You’ll also need to have a think about return on investment (ROI), and set yourself an achievable amount. Research average ROI in the areas you’re interested in, and speak to specialists if you’re not sure. Don’t set yourself an amount so high you won’t be able to achieve it – you need to be realistic here.

    2. What type of commercial property do you want to invest in?

    There are so many types of commercial property available on the market, although retail, office space and industrial units including warehouses are the most common types.

    So the question now is, which one do you invest in? A good place to start is considering where your own particular interests or knowledge lies. For example, you may have experience in a specific industry, and understand the types of offices they’re looking for; so invest in those offices in a desirable location.

    Often though, you may not have a specific idea or interest, and if that’s the case, don’t despair. Instead, speak to the experts – they can help determine what type of commercial property has the potential to be a worthwhile investment, and point you in the direction of lucrative opportunities.

    Remember, obsolescence must be considered when making your choice. Industrial properties change very little in appearance over  time, yet can still command consistent levels of rent.

    3. Research your area

    When you start your property search, you’ll need to consider where you want to invest. Rates will obviously vary from city to city; for example, in 2016, £2.4 billion was invested in commercial property in central London alone, with turnover increasing by 24% year on year.

    Whilst London and Manchester carry higher costs, you may decide to invest in regional cities like Nottingham, Derby or Leicester, as properties will have lower price tags.

    Once you’ve selected your chosen city, the research doesn’t stop there. Prices will also vary depending whereabouts in the city your investment is located. To determine where you purchase your property, you’ll need to think about what your potential buyers or renters will be looking for in a location.

    City centre locations tend to have higher costs due to their close proximity to everything. Conversely, commercial property located in the suburbs can be cheaper, yet closer to transport links such as motorways, train stations… and have their own car parks!

    4. Are you in it for the long haul?

    One key commercial property investment tip is to consider whether you want the rewards to be immediate, or if you don’t mind waiting long-term.

    For people who haven’t invested in commercial property before, it can often be seen as a way to “get rich quick”: in other words, snap up an opportunity, do it up, and then sell it on. However, this isn’t as easy as it sounds, and most commercial investments are held for the medium to long term.

    It can be all-too easy to get caught up in the short-term, when actually, the long-term can be more lucrative. Remember that the property market isn’t exempt from seasonal fluctuations – something you need to bear in mind when you look at buying commercial property; and then again when it’s time to sell or rent.

    This ties in strongly with our previous commercial property investment tip; because to make an educated decision about whether you want short-term or long-term benefits, you need to understand the ins and outs of the market you’re about to invest in.

    We’d recommend you start your research by heading over to the government’s website, which lists a range of upcoming planning decisions in all areas across the UK.

    Like every other commercial property investment tip; if you’re not sure which route you should take, it’s extremely helpful talking to someone who does, as they can give you advice on the local market.

    5. How will you invest in the property?

    So, you’ve now determined what type of property you’d like to buy in which city, you know how much you can afford to spend, and the approximate ROI you’d expect to see.

    Our final commercial property investment tip is to consider how you’re actually going to invest in your chosen property. There are two ways to do so:

    • Direct investment: This requires more capital than indirect investment, but you’ll essentially own the property – it could be a full purchase, with a mortgage, or via a SIPP. However, once you’ve made that initial investment, the financial rewards can be higher.
    • Indirect investment: This requires less initial investment, but as a result, the return can be lower. Instead, you’ll buy shares in a company that invests in property.

    Ultimately, this will depend on the amount you can afford, and the level of involvement you’d like to have in the commercial property investment process.

    Final thoughts

    There’s no doubt that navigating the world of commercial property investment can be difficult – even more so if you’re a first time buyer. However, you don’t have to navigate the world of investment on your own.

    We’re the East Midlands’ leading commercial property investors, and can assist you on your investment journey – even helping to acquire properties that will generate financial return for you.

    For more information, get in touch with us today; or alternatively, start your commercial property search with us.

  8. NG ties the knot on new bridal boutique

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    As commercial property specialists, we’ve brokered a deal that will see a new bridal store relocate and open in a thriving Nottinghamshire market town.

    Suzannah Adcock has let 38 Easthorpe Street, Ruddington, to Emma Castle of Shade Bridal Boutique on a five-year lease.

    Suzannah said:

    “Ruddington is fast-becoming the place to be for rural independent retailers and I’m delighted to be involved right at the beginning of another success story.

    “Emma has recently taken over the business from the previous owner who ran the the business on Melton Road in West Bridgford. The new venue looks fantastic; Emma has redecorated the property to create a modern bridal boutique and is now selling new, high quality designer bridalwear.”

    “We’re always on the lookout for retail space – whether in or out of town. I’d urge all landlords to get in touch if they’re looking to maximise the value of their portfolio.”

    Emma said:

    “We were looking for a property to relocate the business to, which was more in keeping with our client base. Suzannah couldn’t have been more helpful, she made the communication between myself and everyone involved seamless. Any questions were answered very efficiently and before we knew it everything was sorted and we had signed for the lease. We can’t wait to continue our business venture in the new premises. If you’re looking for a property to rent, NG are the company to contact.”

    Are you looking for your next commercial property for rent or sale? Start your property search with us today. Alternatively, with the latest news in the property industry, check out our blog.

  9. Sunny takes crown as king of Nottingham office deals

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    Sunny Landa, director at Nottingham commercial property specialists NG Chartered Surveyors, is celebrating after being crowned Dealmaker of the Year at the CoStar 2019 Awards.

    The annual CoStar Awards recognises and celebrates the performance of the UK’s top commercial property professionals.

    Each year CoStar awards the top players based on a detailed analysis of the thousands of deals it collects over 12 months.

    Sunny triumphed in the Editor’s Choice, office category, with CoStar recognising both the consistent volume and quality of the deals he’d worked on.

    He recently completed a deal to help Wren Sterling, a fast-growing financial planning agency, move into a new headquarters in Nottingham, as well as brokering a deal for Infosys, a global technology services and consulting firm, to take some 23,000 sq ft of offices at Sherwood Business Park, in one of Nottinghamshire’s largest office deals of 2018.

    Sunny said:

    “It’s obviously fantastic to be recognised like this in a personal capacity, but NG isn’t all about individuals. We’re a team, and the way we work together to provide a full, 360-degree service means that we’re beginning to become recognised as one of the most agile, innovative agencies in the Midlands.

    “I’d like to thank CoStar for the award, congratulate my fellow winners – but most of all extend my warmest thanks to my colleagues at NG for all their hard work at support. Our agency is going places. and the next 12 months are set to the most exciting time yet.”

    For more information on the latest property news, head over to our blog.

  10. NG shuffle the pack at Calverton Business Park

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    As Nottingham’s commercial property specialists, we’ve completed a double deal that sees two new tenants moving into Calverton Business Park.

    Richard Sutton, director at NG, has let the 25,000 sq ft former Nottinghamshire County Council premises at 6-8 Calverton Business Park to men’s grooming retailers Olympic Shavers.

    On the back of the deal, Olympic Shavers then instructed NG to market their former premises, the 18,000 sq ft Units 19 and 20, Calverton Business Park.

    After masterminding the marketing campaign, Richard let the units to City Sprint (UK) Limited, the nationwide, same-day courier service.

    The new lease starts in spring 2019, following some agreed works being carried out at the units by the landlord.

    Talking about the deal, Richard said:

    “It’s always very satisfying when a client is so impressed with our work that they instruct us on a second deal in such quick succession.

    “We are seeing increasing demand for this calibre of units from companies who are looking to upgrade their office and warehousing facilities, and this doesn’t seem to be dampening down despite the doom and gloom in the press about Brexit.

    “This is another great deal for the hard-working NG agency team, and a great result for both Olympic Shavers and City Sprint.”

    City Sprint (UK) Limited were represented by James Winbourne of Winbourne Martin French. Paul Hinchliffe from Nelsons provided legal advice on the deal.

    For more updates on the latest in the property industry, head on over to our blog, or begin your commercial property search with us.