Monday, 23 February 2015

WESSEX CANCER TRUST RETAIL REQUIREMENT EXPANDS

Holloway Iliffe & Mitchell have been retained by Wessex Cancer Trust to source suitably located retail accommodation along the South Coast.

Having successfully acquired new locations to include Winchester, Waterlooville and Cosham, the requirement now extends further afield to include main towns located in and around Portsmouth to include Havant, Emsworth, Chichester and similar towns around Southampton also to include Totton, Canford Cliffs, Christchurch and Wimborne.

Holloway Iliffe & Mitchell will actively be acquiring retail units in these areas, which are being taken on a 10 year term, in good strong secondary retails positions. The requirement is for approximately 1,500 sq.ft retail space which will allow for showroom and stock sorting / storage.

Wessex Cancer Trust provide local support for people living with or affected by Cancer, and is a registered Charity based in Southampton.

Further details on shop requirements please contact Stuart Mitchell MRICS MCIArb.

Download full requirement: http://ow.ly/Jv9fw

Thursday, 19 February 2015

Commercial property valuation increasing for secured lending purposes

The last three months has seen a significant uplift in valuation requirements as increasing transactions across the south see purchasers look to secure lending. Peter Dalby, Associate Director and Surveyor at Holloway Iliffe & Mitchell and a Registered Valuer reviews the changes in the market.

Throughout much of 2014 valuation work was predominantly undertaken on the back of requirements by SIPPs. Towards the end of the year the focus moved markedly towards occupiers looking to acquire commercial property and therefore the banks to look to specialist valuers to provide accurate valuations on which to secure lending agreements.

Banks typically have a number of valuers that they go to depending on the requirement. Having the right valuer will depend on both their sector and geographical knowledge which will have been demonstrated over time as the relationship builds. With the legislative changes in place following The Tomlinson Report of 2013, banks are required to use a RICS Registered Valuer for all valuation work regardless of property’s valuation.

Economic growth and stable interest rates have kept business failures down and commercial property risks contained. With the resultant confidence in the market, both high street banks and specialist lenders are 'open for business' when it comes to lending. Each property transaction will involve a host of considerations which relate to a specific deal and an accurate valuation that will play its part in determining the loan to value ratio is a crucial part of the acquisition process. 

A valuation or revaluation of a commercial property asset needs to be undertaken on a regular basis to ensure its current worth is reflected on the company’s balance sheet thus providing owners with tangible evidence of security both for them and their bank.

Valuations are required by banks for a number of reasons including:

· secured lending, 

· valuations for sale and purchase, 

· development purposes, 

· company accounts, 

· lease re gearing or possible compulsory acquisition 

· expanding to alternative facilities which require the value their existing property would generate if sold in the open market.

Using a Registered Valuer who understands the complexities of property valuations will benefit companies in the long term as strategies to identify and unlock possible latent value within a property asset could be identified to the benefit of the owner.

Monday, 9 February 2015

RICS UK Commercial Market Survey, Q4 2014

Director Tom Holloway and Associate Director Peter Dalby of Holloway Iliffe & Mitchell have been quoted in the latest issue of the RICS UK Commercial Market Survey (Q4 2014). This publication is widely read by commercial property investors and occupiers looking to gain an insight into the regional views of RICS Commercial Property Chartered Surveyors in their local region.
 
Tom Holloway BA (Hons) MRICS, Director, Holloway Iliffe & Mitchell said:
Still the levels of stock fall and the pressure on rent and capital values increase. With no significant development on the horizon, 2015 will be challenging as stock levels will further decrease and properties coming back onto the market will be limited. The market could become scrappy.
 
Peter Dalby MRICS, Associate Director, Holloway Iliffe & Mitchell commented:
We continue to see an increase in demand for office and industrial space with rents beginning to tick up. Supply is reducing as existing tenants renew and permitted development continues.
 
If you would like to receive a copy of the latest RICS UK Commercial Market Survey please contact us.

Friday, 16 January 2015

SUE RYDER OPENS NEW PORTSMOUTH FURNITURE SHOWROOM AT POMPEY CENTRE


Sue Ryder, the national charity that provides incredible care for people with life-changing illness has opened its newest dedicated furniture showroom at The Pompey Centre in Southsea. The showroom is the largest new retail unit opened by the charity in recent months and will focus entirely on furniture sales.
The Charity has taken a new ten-year lease on the 7,000 sq ft unit, which is located in the heart of Portsmouth and benefits from excellent road links to the M27, M3 and A3. Acting on behalf of Landlord Sellar Properties (Portsmouth Phase 1) Ltd, agent Holloway Iliffe & Mitchell led the transaction which sees Sue Ryder, represented by Capita Property and Infrastructure, continue to increase its retail presence across the South.

 

Funds raised from the Pompey Centre store will help Sue Ryder to continue to provide the best possible care and support for people living with life limiting conditions, such as cancer; heart failure; respiratory failure; acquired brain injury; multiple sclerosis; Dementia; Huntington’s disease; Parkinson’s disease and Motor Neurone disease.

 

Commenting on the transaction, Holloway Iliffe & Mitchel Director Tom Holloway said: “The Pompey Centre is an excellent location for Sue Ryder. Its prominent position right at the front of the Pompey Centre development means it will be seen by everyone travelling into and out of Portsmouth.”

 

Howard Bowles Retail Regional Manager South, Sue Ryder added: “Our store opening programme is continuing to gather pace across the South. Sue Ryder already has a strong presence in Portsmouth and this adds a high profile location to our portfolio in the city. We were delighted that the Mayor of Portsmouth, Councillor Steven Wylie came to open the store which has enjoyed an excellent first few weeks of trading.”