dohertybaines

New Casio G-Shock Retail Store in Covent Garden

2012-02-28T10:13:00.002Z

On behalf of our client, Casio, dohertybaines have acquired a new G-Shock store at 5B The Market in the heart of Covent Garden's Piazza. Casio will trade from both the ground and basement levels and the fit out team aim to have the store open for trading by Easter. The store will retail Casio's high value products for the top end of the market. The adjoining unit is occupied by jeweller Links of London and the world's largest Apple store, which opened in 2010, is diagonally opposite.

For further information, please contact Brendan Joyce.

New Virtual Tours from SEGRO

2012-02-13T13:19:00.003Z

dohertybaines are pleased to announce that SEGRO now have virtual tours for a number of their units.

Unit 1 Victoria Industrial Estate (12,857 sq ft) has been fully refurbished to a high standard and benefits from fully fitted ground and first floor office accommodation, a new roof, 6.6 m eaves height, 2 full height level access electrically operated loading doors, 3 phase electricity, a large yard and 12 designated car parking spaces. Visit www.SEGRO.com/tour/victoria-unit-1 for a virtual tour of the unit.

Unit 1 Frogmore Industrial Estate, (25,085 sq ft) has also been refurbished to a high standard and benefits from a larger dedicated concrete yard with 35 car parking spaces, fully fitted office accommodation and 2 level loading doors. Visit www.SEGRO.com/tour/frogmore-unit1 for a virtual tour of the unit.

For further information, please contact Michael Haines.

Segro signs MedicAnimal at Park Royal

2012-02-13T13:14:00.003Z

Segro has leased 47,612 sq ft of space at Park Royal to online retailer of pet supplies MedicAnimal.

The retailer has signed a five year lease at Frogmore Industrial Estate.

Harrison Leggett acted on behalf of MedicAnimal.

dohertybaines acted on behalf of SEGRO.

http://www.propertyweek.com/news/segro-signs-medicanimal-at-park-royal/5031422.article

For further information, contact Michael Haines.

Investment Acquisition - The Chase Centre, Chase Road, Park Royal, London NW10 6QD

2012-02-08T13:38:00.001Z

dohertybaines are pleased to announce the successful purchase of The Chase Centre in Park Royal.

Acting on behalf of The Sullivan Discretionary Trust, dohertybaines were involved in all parts of the purchase of this Freehold Multi-let Industrial Estate.

The estate which was sold by LaSalle Investment Management and were advised by John Miles & Company comprises two terraces of 7 industrial/business units totaling 21,461 sq ft (1,993.80 sq m) on a site of 0.71 acres.

The units are multi-let at a total income of £214,810 pa.

dohertybaines have also been retained as letting agents.

For further information, contact Michael Haines mhaines@dohertybaines.com

First 2012 Rates Bills Arrive

2012-01-31T08:38:00.002Z

Our Treasury Department have just passed the first rates bills of 2012 to the Rating Department for verification, it doesn't seem 12 months ago that the last round arrived. Republic of Ireland bills have been received with England and Wales expected to arrive in the next 6 - 8 weeks and Scotland and Northern Ireland some time after that. It always amazes us how the bills can be calculated incorrectly on so many occasaions and we therefore provide a free rates bill auditing service to our clients to ensure you are being charged correctly. This also allows us to check that your premises are valued correctly and ensure we have any mistakes rectified and backdated where applicable.

If you would like to avail of our audit service then please send your bills to me fshorey@dohertybaines.com and if you have any queries on any aspect of your rates then please don't hesitate to get in touch.

Fiona Shorey - fshorey@dohertybaines.com / 020 7355 3033

Good start to year for Rreef

2012-01-16T09:24:00.001Z

Unit 1 B Dukes Road Industrial Estate, Dukes Road, Park Royal W3 0SL has been prelet to Screwfix on a 10 year lease. The unit is 7,503 sq ft.

For further information, contact Michael Haines.

Response to budget announcement on rates

2012-01-10T15:08:00.002Z

The Chancellor has announced that he is extending the business rates holiday from October this year to April 2013. The rates holiday first announced in the 2010 budget allows businesses with a rateable value of up to £6,000 a year will be exempt from paying any rates at all for 12 months, with partial relief for properties rated up to £12,000.

The Chancellor says that this will mean 500,000 rate payers or a third of all shops will have no business rates liability until April 2013.

Fiona Shorey, Head of Rating at dohertybaines said "Business rates are the third biggest cost for small businesses, after salaries and rents and while we are delighted to hear the the Chancellor is taking some steps to help small businesses he has made no announcement about any real help for medium sized firms who are really feeling the pinch during the current economic climate".

The Chancellor also announced that he would be offering businesses the option to defer 60% of the increase in their rates bill next year. Fiona Shorey commented that it would be more helpful to revisit how the increases in rates are set. "A spike in inflation in September has led to a 5.6% increase in business rates across the board. A deferment of this increase is little more than covering over the cracks to the system. When this deferment was offered to businesses in 2008 many didn't take up the option because it was seen to involve too much bureaucracy with little benefit".

For more information on your rates bill contact our business rates department.

Screwfix hook Unit 4 Coomber Way, Croydon

2011-12-19T10:59:00.001Z

Screwfix have recently taken a ten year lease with a break after 5 years at Unit 4 Coomber Way, Croydon.

The scheme, a terrace of 4 units, is now fully let and includes Rexel Senate, Dash Finishers and Balmoral Group on the estate.

The unit was let at a rent of £7 per sq ft.

Please contact Paul Londra of dohertybaines for further information.

Lettings for Blackstone

2011-12-19T10:58:00.001Z

Unit 5 Colonial Drive, Bollo Lane, W4 has been let to The Original Door Company on a 3 year lease. The property comprises a warehouse/industrial unit of 10,507 sq ft.

For further information, please contact Michael Haines.

Freehold Sales for Hillview

2011-12-19T10:57:00.002Z

At Genesis Business Park, Park Royal, NW10 Unit 15 (2,115 sq ft) has been sold to Ambros. The unit was a brand new two storey business unit.

For further information, please contact Michael Haines.

SEGRO Lettings across the A40 Portfolio

2011-12-19T10:54:00.002Z

In Greenford, UB6, Unit 11 Fairway Drive (8,858 sq ft) has been let to Cooper Associates Ltd on a 5 year lease and at Metropolitan Park Unit 45 (3,051 sq ft) has recently completed to Saffron & Saffron Interiors Ltd for a term of 5 years.

At Victoria Industrial Estate, Park Royal, W3 Unit 7 (5,371 sq ft) has been let to VMI.TV Ltd for a term of 10 years.

For further information, please contact Michael Haines.

Wolseley tap into Six Bridges

2011-11-07T13:21:00.002Z

Plumb centre have taken a 10 year lease with a break after 5 years at Unit C3 Six Bridges Trading Estate, London SE1. The unit was approximately 5,234 sq ft and was fully refurbished prior to marketing. The unit is just off the Old Kent Road and has good road links to the West End and City.

Also recently completed are two north London lettings:

Unit 8 Mowlem Trading Estate, London N17 let to RA Trading on a 3 year lease. This unit was approximately 7,433 sq ft. The last remaining unit on the estate was Unit 15 and this is now under offer. Again both units were refurbished by the landlord prior to marketing.

Units 7, 8 and 9 Crusader Industrial Estate, London, N4 were let as a combinedd unit, to Europride Ltd. The units had an extensive mezzanine across all three units and was let on a five year lease with a break after 3 years.

The last remaining unit on the Crusader Estate is also under offer.

If you require any further details on the above, please contact Paul Londra at dohertybaines.

Only 1 unit left for Canmoor at Vision, W3

2011-10-31T09:56:00.001Z

Following the successful letting of Units 2 & 4 Vision, only Unit 15 is now available.

Unit 15 is a brand new HQ warehouse of 27,429 sq ft with high quality offices and demised yard and car parking.

Unit 2 (3,835 sq ft) was let to Louise Bradley for a term of 10 years.

Unit 4 (4,646 sq ft) was let to Chevalier Technologies for a term of 10 years.

For further information, please contact Michael Haines.

More Letting for SEGRO across the A40 Portfolio

2011-10-31T09:53:00.001Z

At Acton Park, W3 Unit 33 (8,671 sq ft) has been let to Allan Reeder for a term of 10 years.

Units 10 & 14 Victoria Industrial Estate, W3 have also been let. Unit 10 (7,317 sq ft) has been let to The Soundhouse for a term of 15 years and Unit 14 (3,164 sq ft) has been let to Visual Impact for a term of 5 years.

Medco Health Solutions have taken 27 Greenford Park, UB6 (3,995 sq ft) for a term of 6 years.

For further information, please contact Michael Haines.

Inflation reaches record levels sparking fears of business rates hike

2011-10-18T16:43:00.003+01:00

RPI increased from 5.2% in September sparking fears of a spike in the tax if the Government continues to use September's RPI rate to set the rates multiplier. If the increase goes ahead businesses will face the biggest increase in rates in over 20 years.

The Uniform Business Rate will rocket from 43.3p to 45.7p per £1 of rateable value. London firms will face rates nearing 50p in the £1 for the first time as a result of the additional 2p rate levied to help pay for Crossrail.

The increase will affect all businesses as well as owners of empty premises. Being prepared for the increase will help with the burden, dohertybaines can provide free budgets for your business rates liabilities and advise on ways of mitigating this tax.

Please contact Fiona Kelly to discuss your liability further.

Rating Reform in Scotland

2011-10-13T17:09:00.002+01:00

The Scottish Government announced various business rates measures in its recent Budget which have potentially serious implications for Scottish property owners and occupiers. The most relevant is the reform of empty rate relief which it appears is being reduced dramatically.

At the moment vacant commercial properties in Scotland benefit from 100% rates relief for the first three months they are empty and unoccupied, followed by 50% relief thereafter. Vacant warehouse and industrial premises and listed buildings pay no empty rates. Mr Swinney announced that empty rates relief will be reformed in Scotland from April 2013 claiming that this is 'to provide strong incentives to bring vacant premises back into use, reducing the prevalence of empty shops in town centres and supporting urban regeneration'. Similar claims were made prior the major reform of empty rates relief in England and Wales in April 2008 and there is no evidence that the removal of rates relief after a short rates free period (6 months for warehouse/industrial property and 3 months for other commercial property) has reduced the number of vacant units.

It is not clear whether the Scottish Government intends to replicate the empty rates rules in England and Wales.

The only announcement that may be good news to Scottish businesses is the intention to continue the support of small businesses through the Small Business Bonus Scheme, whereby 74,000 businesses occupying small properties benefit from nil or reduced rates liabilities.

If you would like more information on your rates liability for property anywhere in the UK, please contact me and I would be happy to advise further.

Fiona Kelly

fkelly@dohertybaines.com

W3 Lettings

2011-09-02T09:27:00.001+01:00

Unit 42 Westwood Park, Concorde Road, Acton W3 has been let A to Z Catering Supplies Ltd.

The unit which is 6,806 sq ft has been let for a term of 10 years. dohertybaines were acting on behalf of CBRE Investors.

Unit 1A Dukes Road Industrial Estate, Dukes Road, Acton W3 (7,503 sq ft) has also been let.

Topps Tiles took a prelet of the unit for a term of 15 years from RREEF. dohertybaines were acting for the landlord.

For further information, contact Michael Haines.

Petition for Empty Property Rates Change

2011-08-17T16:30:00.002+01:00

The London Rating Network which is made up of a wide selection of specialists in business rates in both public and private sectors has created on online petition to lobby the Government to remove the unfair Empty Property Rates (EPR) threshold from £2,600.00 Rateable Value (RV) and reinstate the £18,000.00 RV threshold under which EPR are not payable for a minimum period of two years. It is their belief that this will offer a level of certainty to investors, encourage property development and revitalise local communities. It will stimulate SME growth and generate new employment opportunities. The London Rating Network believes Government should recognise the devastating effect EPR has had on the whole property industry and raise the issue of EPR by way of debate.

Fiona Kelly of dohertybaines is a member of the London Rating Network and is supporting this petition. If you agree then please sign the petition at http://epetitions.direct.gov.uk/petitions/318

Property Week Challenge 2011 - British 10k London run

2011-08-17T15:46:00.005+01:00

In conjunction with the Property Week Challenge 2011, dohertybaines entered a team of four to the British 10k London Run. With three of the team having competed in the Property Triathlon just two days earlier, there were some tired legs and very impressive pre-race excuses (principally based around having been out on the Saturday night). Regardless, the team went on to notch up some very respectable times. Mark Howard, recovering from an injury and having not been for a run for what is believed to be over a decade, came in at a sterling 57.03. Tim Holmes finished with a respectable 52.12. Following a closely fought battle throughout including Colin Hughes sneaking past Chris Mitchell around the 7k mark, only for Chris (convinced he was on a road bike) to quietly "slip stream" the last 2.5k with Colin completely oblivious. The bragging rights clash ended in a spectacularly unnecessary/Tour de France inspired manor, with a sprint down the final 300m. Colin finished a mere 9 seconds behind Chris with the two finishing at 49.18 and 49.09 respectively.

Jones Lang LaSalle Property Triathlon 2011

2011-08-17T15:12:00.007+01:00

Now in it's fifth year, dohertybaines once again had a strong presence at the Property Triathlon entering four individuals and one mixed team. The team, bucking their historic gold medal trend, came in a still very respectable 9th this year with a time of 1 hour 14 minutes and 6 seconds. Having had the splits closely scrutinised against last years by a team of analysts from MENSA, the figures clearly show the loss being a reflection of not having David O'Donovan's powerhouse cycling prowess on the day. The individual competition had been hotly contested internally in the months leading up to the event, with much male bravado being at stake. On the day the pressure was somewhat subdued with the news that Stuart Atkinson had to pull out due to "work commitments", leaving the remaining three to battle over the proverbial dohertybaines podium. Tim Holmes, competing in his first triathlon and dogged by "problems with the bike" (a.k.a. not knowing how to cycle), came in at 1 hour 35 minutes and 7 seconds. Colin Hughes, again competing in his first triathlon, obviously had used a bicycle before and came in at 1 hour 34 minutes and 56 seconds, giving him an 11 second lead over his colleague. This lead is made all the more impressive by the fact that he spent 8.5 minutes in the transitions as a result of being "unable to take a wetsuit off" or tie his shoelaces. With a full 5 minutes in the first transition it is widely rumoured that, due to his lack of experience, Colin didn't know you weren't meant to take a hot shower, wash your hair, blow-dry, put on hair gel, deodorant & Acqua di Gio before the run. Bragging rights, largely as a result of finally purchasing a set of actual running trainers (although still wearing very questionable attire including bright red floral board shorts) and being proficient in the use of a wetsuit, shoe laces & a bicycle, were won by Chris Mitchell who came in over 10 minutes ahead of his colleagues with a personal best of 1 hour 24 minutes and 37 seconds. There is now discussion of a second event/re-match later this year.http://www.propertytriathlon.com

Service Charges in Commercial Property - RICS Code of Practice - 2nd Edition

2011-08-17T15:05:00.002+01:00

The second edition of the Service Charge Code of Practice in Commercial Property has been launched by RICS and will become effective on 1 October 2011.

The Code of Practice is a guidance note for commercial property managers, owners and occupiers and is intended to promote best practice, uniformity, fairness and transparency in the management and administration of service charges in commercial property - an issue which often causes unnecessary conflict between owner and occupier if not managed effectively.

Building on the standards announced in the initial code, the updated code now requires that management fees are set on a fixed price basis rather than being calculated as a percentage of expenditure - which is considered as a disincentive to deliver value for money.

The issues around sustainability are addressed for the first time and two model lease clauses are available to ensure standards are being met in new and renewal leases. Compliance with the code also requires the adoption of the Industry Standard Cost Classifications.

Communication, transparency and timeliness remain key issues in the 2011 Code of Practice.

For further information, contact Mel Wheatley.

West London Transactions

2011-08-17T10:32:00.002+01:00

On behalf of Blackstone Unit 2 Colonial Drive, Chiswick, W4 (6,192 sq ft) has been let to MGJV on a 14 months lease.

Happy Hour for Canmoor at Vision

Diageo have completed on Unit 16 Vision, Park Royal W3. The unit which is 29,103 sq ft has been let for a term of 5 years. This leaves only Unit 4 (4,646 sq ft) and Unit 15 (27,429 sq ft) available.

At 274/275 Abbeydale Road, Park Royal HA0 - 275 a unit of 38,640 sq ft has been let for term of 15 years to India Jane. This was done on behalf of Kingston Estates.

At Sapcote Developments scheme at Manor Farm Business Park, Alperton, HA0 only 2 units remain following the sales of Units 2, (3,436 sq ft), 7 (5,593 sq ft) & 9 (5,670 sq ft).

Units 3 (4,728 sq ft) and Unit 4 (3,768 sq ft) are available on a freehold basis.

Continued success for SEGRO on the A40 Portfolio

At Greenford Park, Greenford UB6, Unit 2 (43,504 sq ft) has been let.

National Electrical Wholesale have taken a new lease at 731 Tudor Estate, Park Royal, NW10. The unit was 5,793 sq ft.

14,586 sq ft has been let at Unit E Abbeydale Road, Park Royal HA0 to Bakkavor on a 10 year lease.

Unit 33 Acton Park, The Vale W3 (8,670 sq ft) has been let to Allan Reeder Ltd for a term of 10 years.

For further information, please contact Michael Haines.

Unit 4 Griffin Centre, Feltham

2011-08-17T08:59:00.002+01:00

dohertybaines has recently let Unit 4 Griffin Centre, Feltham to Murphy Shipping. Murphy Shipping, who moved from Boeing Way in Southall have taken a five year term without break on the refurbished unit.

There is only one warehouse unit remaining on the estate, Unit 8 which is 15,113 sq ft.

For more information, please contact Paul Londra.

Clegg says Councils will keep business rates

2011-07-04T17:18:00.002+01:00

Councils in England will be allowed to keep the business rates they collect rather than paying them into Treasury, under new government plans.

Deputy PM Nick Clegg said councils had no financial incentive to boost growth and prosperity in their areas but added that the changes would also be fair and poorer areas would not get less than they currently do.

Mr Clegg told the LGA conference in Birmingham last week that the tax system was currently "over-centralised" with just 5% of the tax take being raised locally.

Mr Clegg said "By localising the retention of business rates you are given a dramatic new incentive to work with business and with others, in order to boost economic prosperity in your areas."

Councils will also have the power to borrow against business rate income to fund local development.

For more information on your business rates bill contact Fiona Kelly fkelly@dohertybaines.com

Coverage for dohertybaines on Property Week website

2011-07-01T09:13:00.002+01:00

New amendments to the Localism Bill could allow councils to refuse to hold referendums in "special cases".

Developers have expressed concerns over the original drafting of the Localism Bill, which included a right for a community to put local issues to a referendum after a strong response to a petition.

But amendments, tabled by Baroness Hanham yesterday, could mean councils can refuse a referendum if it has already been subject to a similar referendum in the last four years, if its officers think a referendum is too expensive to hold, or if there is already a process available for consultation, appeal or review of the matter in question.

The move goes further than an amendment tabled by the Earl of Lytton last week that would give local authorities the power to exclude planning applications from local referendums.

Following the Earl's proposals, Liz Peace, chief executive of the British Property Federation, said: "We have a democratic planning system in which an application is submitted, those with a legitimate interest have opportunities to object and a decision is reached by elected local councillors.

"The Localism Bill strengthens the degree of pre-application consultation that will be required. It would be wholly unreasonable as well as a waste of local resources if local referendums could see to influence or overturn planning decisions taken by a democratically elected authority."

Although moves to keep planning decisions within local authorities have been broadly welcomed, concerns remain over how such a complicated bill can ever be implemented.

John Fosbraey head of planning and development at dohertybaines said: "The practicable enforceability of various recent government amendments to policy don't seem to have been considered and instead of speeding thing up, there is a every chance they will slow them down.

"I don't think developers really know where they stand at the moment and which policies are going to be used to assess their proposals."

dohertybaines Delivers Kuehne and Nagle for Lewisham Industrial Estate

2011-06-27T14:46:00.002+01:00

dohertybaines on behalf of a private client has let Units 11 and 12 on the Chiltonian Industrial Estate, Lewisham SE12 to logistics specialist Kuehne and Nagle.

Kuehne and Nagle took the 4,400 sq ft units on a five year lease at a rent of £9.25 per sq ft.

dohertybaines surveyor Paul Londra said: "db arranged the surrender of unit 11, to provide the additional space required. And the new lease was on longer terms than those of the lease remeining of the outgoing tenant of unit 11. We also rented a small yard to the rear of the units further increasing our client's rent roll."

For further information, please contact Paul Londra.

Surrender and Re-Grant

2011-05-24T09:58:00.003+01:00

dohertybaines recently advised on the surrender of a lease of Unit 11 Chiltonian Industrial Estate, Lewisham, London SE12 and the subsequent letting of both 11 and 12 (the latter which was vacant) to Kuehne and Nagle.

The surrender results in our landlord client reducing their void for unit 12 whilst letting unit 11 on a longer lease, to a better covenant at a higher rent. An additional parcel of land was also leased and rentalised thus increasing the rent roll further for our clients.

For more detail, please contact Paul Londra.

More Lettings for Canmoor at Vision

2011-05-23T12:02:00.001+01:00

Unit 11 Vision, Kendal Avenue, Park Royal W3 has been let to Tesla Motors Limited for a term of 10 years.

For further information, please contact Michael Haines.

Freehold Sales for Aberdeen Property Investors

2011-05-23T12:01:00.002+01:00

Units 12/13 Lyon Way, Greenford, Middlesex UB6 0BN 17,101 sq ft has been sold to Polybags.

For further information, please contact Michael Haines.

SEGRO lettings in Park Royal

2011-05-23T11:59:00.001+01:00

Units 47-49 Westway Industrial Estate, Old Oak Common Lane, East Acton W3 7XR (5,702 sq ft) has been let to Concept Engineering Consultants on a 10 year lease.

For further information, please contact Michael Haines.

SEGRO lettings in Greenford

2011-05-23T11:55:00.003+01:00

Units 5 & 6 Greenford Park, Greenford UB6 0AZ have been let. Unit 5 (16,675 sq ft) has been let to High Point Global Solutions Limited for a term of 10 years and Unit 6 (10,788 sq ft) has been let to Evonik Membrane Extraction Technology on a 10 year lease.

At Metropolitan Park, Greenford UB6 8UJ leases at Units 43 and 46 have also recently completed. Unit 43 has been let to SSE Services Plc on a 3 year lease. The unit was 8,817 sq ft. Unit 46, 3,001 sq ft was let to Eurocell Building Plastics for a term of 5 years.

For further information, please contact Michael Haines.

Freehold Sales in Alperton

2011-05-23T11:52:00.002+01:00

On behalf of Sapcote Developments Units 1, 8 & 10 Manor Farm Business Park, 95 Manor Farm Road, Alperton HA0 1BN have been sold. Units 1, 8 & 10 comprised 11,636 sq ft, 5,578 sq ft & 6,260 sq ft respectively.

For further information, please contact Michael Haines.

Is everyone ready for the proposed lease accountancy changes when or IF they come about?

2011-05-23T10:10:00.002+01:00

Proposed changes to accounting standards represent a radical shake-up of accounting for leases. Under these new measures all lease obligations will be capitalised on the balance sheet. These proposals, if implemented, will have a profound impact on every company that is a user of real estate. The new lease accounting standards are likely to come into effect from 2013, however because of the need to restate prior year figures the true starting period could be from January 2012. This means that companies have another year to put changes in place.

The project's objectives are as follows:

To develop a new accounting model for the recognition of assets and liabilities created by leases

To ensure that lessors and lessees present relevant, faithfully representative information about the rights and obligations that arise from leases

To ensure that users of financial statements are provided with useful, transparent and complete information about leasing transactions in the financial statements

To assist users of financial statements in their estimations of the amounts, timing and uncertainty of cash flows arising as a result of leases

However, should these proposals be implemented, users of property will place a far greater onus on the lease versus purchase question. The proposals are in the very early stages although we have been working with several clients to assess their impact. Please feel free to call us for an informal chat on our current views.

Nigel Doherty

dohertybaines Planning Consultant

2011-05-23T09:33:00.002+01:00

The first draft of the National Planning Policy Framework will "decouple the idea that economic growth always causes environmental degradation" and set a tough, pro development agenda, according to documents obtained by Property Week.

The draft, produced by the NPPF advisory group and due to be revealed by Secretary of State for Communities and Local Government Eric Pickles next week, represents a change in tone and an overall simplification of the national planning system in favour of locall driven development.

Under the new regime, the issue of viability will be given greater significance and local authorities will develop a single, local plan, rather than local development frameworks as part of a bid to simplify the process.

The plan will also reduce the powers of the secretary of state to "call-in" schemes of national importance, placing the responsibility entirely in the hands of local authorities.

In a letter to Greg Clark, published this morning, the advisory group said: "We believe that there need be no inconsistency between the promotion of the increased levels of development which the country needs and the protection of the environment."

"Indeed we hope that this is a clear and strong there in our draft - based on the idea that economic growth can be decoupled from environmental degradation."

"Property planned, increased levels of development can enable to achievement of multiple "wins" - enhanced economic growth. Better access to housing and the means to achieve positive environmental enhancement."

The draft will argue that town centre planning must be more proactive as retail requierments are currently constrained to town centres.

For further information, please contact John Fosbraey.

2011-05-23T09:08:00.002+01:00

dohertybaines has faciliated siting of Avon & Somerset's Police Community Caravan locally know as the 'Police Pod' at the Cable & Wireless' Brean Cable landing site. This is to provide Community support at the centre of this busy holiday resort, the venture was funded and supported by local businesses and will be manned by a mix of local beat officers and volunteers from the local community.

For further information, please contact Nigel Rummey.

Heathrow relocation for Bonded Services

2011-04-20T15:36:00.000+01:00

dohertybaines client Bonded Services has agreed a deal with SEGRO to take two sheds at Spacewaye Park in Heathrow, west London.

Bonded Services, which is a leader in film storage and video archive services, has agreed a 15-year lease on units four and five at the park totalling 34,000 sq ft. The new warehouses will be used for general storage, distribution and film services and include specialist temperature and humidity controlled environments.

Bonded Services UK managing director Stephen Holmes said: "Our focus this year is to continue the development of the company. The move to larger premises provides us with a much greater capacity in which to grow."

For any further information, please contact Mark Howard.

SEGRO Lettings

2011-03-15T11:08:00.002Z

At Acton Park, The Vale, London W3 7QE, Unit 22 (2,942 sq ft) has been let to Analox Instruments for a term of 10 years.

Unit 15 Premier Park, Abbey Road, Park Royal NW10 7NZ (4,650 sq ft) has also been let to Fareshare Ltd for a ten year term.

Unit 7 Frogmore Industrial Estate, Acton Lane, Park Royal NW10 7NP (17,145 sq ft) has been let to Magnet on a 15 year lease.

For any further information, please contact Michael Haines.

More Lettings for Canmoor

2011-03-15T11:05:00.002Z

On behalf of Canmoor, dohertybaines have let Unit 10 Vision, Kendal Avenue, Park Royal W3 0AF.

Zuekoo Ltd have taken a 5 year lease on the unit which is 5,029 sq ft.

For any further questions, please contact Michael Haines.

SEGRO reshuffles its Heathrow advisers

2011-03-07T15:40:00.001Z

Industrial REIT SEGRO has appointed dohertybaines, Savills and De Souza as joint agents for its Heathrow portfolio, one of the largest industrial agency instructions in the UK.

The portfolio totals more than 6m sq ft and includes more than 260 warehouses. It incorporates 3.5m sq ft of Airport Property Partnership assets in which SEGRO bought a 50% stake from BAA last June for £111.3m.

SEGRO's London markets business director Phil Redding said: "The newly-instructed agencies all have a proven track record in the Heathrow market and the wider industrial sector. I am certain their appointment will add real value."

For further information, please contact David O'Donovan.

Private client of dohertybaines sells Huntingdon distribution facility to Aberdeen Property Investors for £4.1 million (UK)

2011-02-10T17:13:00.002Z

A private investment client of dohertybaines has sold a state-of-the-art production and distribution facility in Huntingdon, Cambridgeshire to Aberdeen Property Investors. Unit C, The Interchange Industrial Estate, located on Latham Road in Huntingdon, was purchased for £4.1 million (approx. €4.8 million), reflecting a net initial yield of 6.5%.

The approx. 4,500-m² unit is currently let to leading specialist meat-packing business, the Hilton Food Group. The company has 22 years remaining on its lease (12 to the break clause), which includes fixed annual rental increases.

Rob Nelson, Partner at dohertybaines, said: “The property is a modern, high quality unit let to a strong tenant which, combined with guaranteed rental growth provided by annual uplifts, will offer long-term secure income for the purchaser. The price achieved was above expectations and reflected the lack of quality product in that sector on the market at that time.”

dohertybaines instructed on 274/275 Abbeydale Road, Park Royal HA0 1TW

2011-02-04T13:56:00.000Z

dohertybaines have been instructed by Kingston Estates to dispose of 274/275 Abbeydale Road.

The unit comprises a modern warehouse/industrial unit which has recently been refurbished and benefits from a large secure yard and an eaves height of up to 8.7 m.

The property is available as a whole (60,760 sq ft) or alternatively can be split to provide units from 22,120 sq ft. It is available on a leasehold or freehold basis.

For further information, please contact Michael Haines.

Are you still paying empty rates?

2011-02-01T11:37:00.000Z

The government handed out more than £1bn in empty property relief last year as clever avoidance tactics employed by the industry started to take their toll.

Figures from the department for Communities and Local Government show the government missed out on £631m of empty property rates in 2009-10. The figures reveal that it awarded £1.1bn in relief last year, a 56% increase on the £487m concession a year earlier. A spokesman for CLG said the rise was due to the government's decision to raise the rate relief threshold temporarily from £2,200 to £15,000. However, the industry has disregarded that claim on the back of the fact that 2010 Valuation Office Agency figures show that the average rateable value of a non-domestic property in England and Wales was £32,200.

A major contributor to the rise in relief was the industry's use of tactics to avoid paying the tax. These tactics included intermittent occupation, whereby a tenant occupies a building for six weeks, enabling a six-month, rate-free period. If the occupier can make some use of the building for six weeks, they can claim a fresh rate-free period. There is no end to the number of times that can happen. A whole industry has sprung up around what they call the 42-day rule - more and more companies are saying we will occupy your building for just 42 days and then take a part of the saving that the landlord will achieve from the empty rate relief.

Between 2005 and 2008, empty property rate relief cost Whitehall roughly £1.3bn pa. Ministers then scrapped the relief, which cost the property industry £800m.

However, these latest figures show that the government is back to handing out near pre recession levels of relief.

Don’t miss out on your opportunity to avoid this tax, speak to dohertybaines today on how this can be avoided. dohertybaines are working with a number of occupiers who will occupy your premises and make use of the 42-day rule. Giving you up to 6 months empty rates relief on vacation.

For further information, contact Fiona Kelly.

Scotland expected to follow England in empty rates legislation

2011-02-01T11:29:00.001Z

In Scotland the proposals for a “Tesco Tax” or an additional levy on large food stores and retail was kicked out by the Scottish Parliament last week. This left the Scottish Finance Secretary with a shortfall of circa £30 million in next year’s budget. The bad news is he is now considering “harmonising” with England and from next April Scotland will follow England and adopt the same empty property provisions. This will see empty rates relief on office and retail increase from the 50% rates currently payable to 100% and industrial property increase from 0% payable to 100%.

This is something that we have been expecting and if you have empty property in Scotland you should be preparing for the increase. Please call me if you would like information on your rates liabilities in Scotland.

Fiona Kelly
fkelly@dohertybaines.com

Compass West

2011-01-28T15:09:00.002Z

dohertybaines have let Unit 11 Compass West, London N17 to Polbake Ltd, who are moving from East London to take advantage of the good access to the City and West End, that Edmonton provides.

This was the final unit in the estate that remained vacant, and now dohertybaines have let 3 units in the past 6 months on the estate: Units 11, 12 and 14.

This success followed hard on the heels of a further two lettings in the area on the Mowlem Trading Estate in December 2010.

For further information, please contact Paul Londra.

UK Broadband Telecoms Sites

2011-01-28T15:04:00.001Z

Those of you who used to have UK Broadband installations on your rooftops will be aware that they decommissioned virtually all of their sites last year. I have just heard from them that perceived demand for mobile broadband and government support for such initiatives has enabled them to get new financial backing. They are now planning a new rollout.

The numbers are around 200 in London initially, followed by Birmingham and nationwide. The equipment is being redesigned but probably will consist of a small equipment cabinet and a couple of panel antennas. This is all still at its early stages but I expect they will go back their former landlords and seek rights for new installations. You may be hearing from them again later this year and my colleagues and I will be happy to help if you wish.

John Woodhouse
jwoodhouse@dohertybaines.com

dohertybaines will be hosting events at MIPIM 2011

2011-01-21T09:16:00.004Z

dohertybaines will be attending MIPIM this year from 8th to 11th March 2011 and will be hosting a series of events including lunches and dinners on board the MY Five Fishes. Investors, developers and corporate occupiers are all welcome. We will also be co- hosting a party with Citygrove, on 10th March. This years theme is “The Boat That Rocks” with live music by The Fabba Girls.

Please let us know if you are attending MIPIM this year and we will be delighted to arrange a time to meet.

Nigel Doherty
ndoherty@dohertybaines.com

Now Fully Let The Chase Centre, Chase Road, Park Royal, NW10 6QD

2011-01-19T16:25:00.001Z

Acting on behalf of LaSalle Investment Management, dohertybaines are pleased to announce that following the letting of Unit 3 The Chase Centre is now fully occupied.

Radiocoms Systems Limited have taken a 10 year lease on the property which is 3,790 sq ft.

For further information, please contact Michael Haines.

Newcastle Upon Tyne

2011-01-13T14:07:00.001Z

dohertybaines, acting for clients who hold a head leasehold interest in the property, agreed terms with the occupational tenants to remove a break option in return for 3 months rent free. It was further agreed that the rent free allowance would be spent on repairing the property, thus reducing both parties’ terminal dilapidation liabilities.

The removal of the break has resulted in a reduction in the clients holding costs by over £160,000.

Graham Pepper commented ‘We, at dohertybaines, explore all asset management opportunities within the portfolios we manage. We are aware of the importance of reducing our clients holding costs, particularly in the current economic climate.’

New letting in Wycombe

2011-01-13T09:22:00.001Z

dohertybaines have successfully sublet Unit 4 Sunters End Sands Industrial Estate, High Wycombe to local occupier Origin Frames for the remainder of their clients lease, expiring in 2014. This is despite competition from other available premises nearby who were offering large incentives.

The 12,117 sq ft unit previously had an occupier but they had gone into administration and as a result, our clients had to seek a subtenant to reduce their liabilities.

Unfortunately the situation described above is becoming more and more common. However, occupiers in this scenario should still seek to look at all options - one of which may be to sublet/assign their interests to reduce their outgoings (and may now include business rates) and not just pay the rent without thought.

If you require any further information on the above, please contact Paul Londra at dohertybaines.

More lettings for Canmoor

2011-01-13T09:18:00.001Z

3 more units let at Canmoor’s Vision Scheme in Park Royal:

Units 7 & 8 Vision, Kendal Avenue, Park Royal totaling 10,605 sq ft has been let to The Organic Pharmacy Ltd for a term of 10 years.

Melville Exhibition and Event Services Ltd have also taken Unit 9 Vision 5,935 sq ft on a 10 year lease.

For more information please contact Michael Haines.

Lettings and Sales for SEGRO

2011-01-13T09:16:00.001Z

dohertybaines are pleased to announce the following lettings and sales for SEGRO:

At Fairway Drive in Greenford, Unit 2 has been let to Chesapeake Ltd.

At Metropolitan Park, Greenford, Unit 37 Halifax Road (4,054 sq ft) has been let to Sceptre Leisure Solutions Ltd on a 4 year lease.

Units G, H & J Metropolitan Park totaling 35,955 sq ft have also been let to H&M Hennes & Mauritz UK Ltd on a 5 year lease.

Ultra Electronics have also taken 18,677 sq ft at Unit 51 Metropolitan Park.

Acting on behalf of SEGRO the sale of 274/275 Abbeydale Road, Park Royal 60,170 sq ft has also completed.

For further information please contact Michael Haines.

Empty Property Rate threshold to revert to £2,600 from 1 April next year!

2010-12-16T09:22:00.002Z

This one line statement was buried amongst the various announcements on Monday from the Department for Communities and Local Government concerning Business Rates made yesterday by the Parliamentary Under Secretary of State Bob Neill.

This will effect a large number of small and medium sized businesses who still have vacant space, due to the current economic environment. The serviced and managed space sector will be particularly hard hit as this is where an increasing number of assessments under the threshold are to be found.

Whilst there is no getting away from the fact that this is bad news, it should be remembered that vacant space will still merit three months relief (six months if industrial in nature) and that a proactive adviser/operator should still be able to mitigate the empty rate liability.

dohertybaines will be supporting the BCA's campaign which has already commenced to overturn this decision in every way possible and we will also be available for support or advice to mitigate its' impact.

For further information, please contact Fiona Kelly.

Affiliated Managers Group PLC to grow presence in London

2010-12-13T12:39:00.001Z

The Central London Office Agency Team has bagged a major acquisition instruction from the large Global Asset Manager AMG Plc.

AMG Plc who are headquartered in the US have appointed the Central London Offices Team to acquire their new Mayfair offices as they have outgrown their current offices on Park Lane overlooking Hyde Park.

The team has beaten off stiff competition to win the instruction and will be advising on the exit of their existing liability, whilst acquiring the new 3,000 - 4,000 sq ft prime Mayfair office.

It is quality high profile Mayfair acquisition instructions such as this, that will make the newly set up Central London Office Agency Department a success in its own right. We are thrilled to be working with a new client such as AMG.

Central London Office Agency Wins Double Instruction!!

2010-12-13T12:34:00.002Z

The Central London Office Agency Team has been appointed by Holloway White Allom on a comprehensive property consolidation process. This will involve the sale of their long leasehold interest at 43 South Audley Street in Mayfair which comprises approximately 5,300 sq ft and will be of special interest to owner occupiers, as these buildings are currently in short supply.

They will also be acquiring for them a single 8,000 sq ft floor in Victoria. Two other leases in greater London will also be surrendered, therefore allowing staff from all 3 locations to finally be under one roof on a single modern floorplate.

A very exciting instruction with lots of angles. Long leasehold sale, acquisition of leasehold, surrenders as well as dilapidations advice from our Building Consultancy Department.

For any questions, please contact Alex Brown.

Park Royal Partnership Annual Dinner

2010-12-07T11:41:00.001Z

The Park Royal Partnership Annual Dinner on the 2nd December at The Hurlingham Club in London was a great success and everyone who attended had a very enjoyable night despite the freezing temperatures and snow!

The winner of the dohertybaines sponsored Personality of the Year Award was Peter Davies from Alpha Beta Business Centres. Peter is considered by many to be a leading personality in Park Royal. Throughout the years he has helped a number of local businesses to grow and also helped them to deal with practical problems. Peter is known by most business owners in the Park Royal area and in addition he has been a long standing supporter of Park Royal Partnership’s work. We are delighted to have been able to sponsor this award and very much hope that Peter enjoys his prize.

If you would like future information about the work dohertybaines does with Park Royal Partnership please contact Fiona Kelly.

2010-12-02T17:15:00.000Z

Doherty Baines have let two units at Mowlem Trading Estate to Lomarts Ltd.

Lomarts have taken 10 year leases on units 13 and 14 on the popular estate, close to the North Circular and the Edmonton Ikea.

There are a further two units available on the estate, units 8 and 15, the former is currently undergoing refurbishment.

For further information, please contact Paul Londra on 020 7355 3033.

Mobile Network Rationalisation – Everything Everywhere, T-Mobile, Orange and Hutchison 3G

2010-11-22T10:55:00.001Z

If you have mobile phone installations on your sites will be aware of the ongoing consolidation in the industry to save costs. I attended the RICS Telecoms Conference on Tuesday 16th where there was a major presentation on the consolidation/integration of Hutchison 3G (H3G), T-Mobile and Orange. The consolidation of H3G and T-Mobile is now effectively completed (they have carried out 12,000 out of their 12,400 planned consolidations and 5,300 of their 5,700 planned deactivations) so you are unlikely to receive any more break notices for these company’s sites for the time being (though some clients still have issues with purported break notices they have received in the past! However, there is another round of rationalisation on the way. Orange and T-Mobile are now owned by a joint venture company, Everything Everywhere, and their networks are being integrated into one. The target is a single network of 18,000 sites. To achieve this they plan to decommission 9,000 sites. It will be a few months before the planning work is complete. If you have them as tenants, especially if there are both Orange and T-Mobile on the same rooftop, you may well hear from them sometime in 2011. An important KPI for them is reliable 24/7 access, so if you have scope to improve access arrangements this may be a cost-effective way to reduce the chances of them exiting your site.

John Woodhouse - Associate
jwoodhouse@dohertybaines.com

More Segro Lettings

2010-11-04T14:32:00.002Z

Greenford Park, Greenford, UB6

Unit 9 (13,469 sq ft) has been let to Stephen Morris Shipping for a term of 10 years.

Premier Park, Park Royal, NW10

Unit 15 (4,650 sq ft) has been let to Fareshare for a term of 10 years.

dohertybaines were acting for Segro.

For further information, please contact Michael Haines on
020 7355 3033
mhaines@dohertybaines.com

Park Royal Personality of the Year Award

2010-11-04T10:11:00.002Z

dohertybaines are delighted to be sponsoring the first Park Royal Personality of the Year Award! The Award will be given to the winning person at the Park Royal Partnership Annual Dinner on the 2nd December. Other corporate awards on the night are sponsored by SEGRO and HSBC but dohertybaines are sponsoring the only award to an individual. Watch this space for details on the winner....!!

Fiona Kelly
Associate
fkelly@dohertybaines.com

Results for the db Office Agency Team

2010-10-18T17:33:00.001+01:00

The Office Agency team – acting for Green Property – has agreed two new leases comprising some 70,000 sqft at Kings House, Harrow. Pollsters Ipsos MORI has taken 40,000 sqft and Job Centre Plus and the Department of Work & Pensions have taken a combined area of some 30,000 sqft. A further 20,000 sqft is available in the building on two floors currently undergoing refurbishment.

On behalf of TX Europe Ltd (trading as Timex) dohertybaines’ Office Agency team has successfully completed a new lease at The Mille, Great West Road, Brentford. Timex is using part 4th floor as its UK headquarters. dohertybaines has represented Timex for 11 years.

For further information, please contact Richard Ford
rford@dohertybaines.com
020 7355 3033

New faces in the Cable & Wireless team

2010-10-13T12:44:00.002+01:00

We have added two new faces to our Asset Management department, both of which are working on the Cable&Wireless contract.

Nick Wombill - Senior Surveyor

Andy Nagel - Senior Surveyor

Business Rates going up again!

2010-10-13T12:37:00.000+01:00

The business rates that you pay each year increase by the RPI inflation rate for the September before the new rates become payable. The September RPI has just been announced at 4.6%. This inflation rate would give us a 2011/12 rates multiplier of 42.6p (England & Scotland) and 42.8p (Wales) although Government may set a different figure. The multiplier is currently 41.4p.

This is well in excess of the 2% increase that many people have been budgeting for.

Don’t get a shock in March next year - feel free to contact me for an updated, accurate figure for your rates liability for 2011/12 based on the new rates multiplier. As soon as the multiplier is confirmed in the new year I will get in touch with you again to ensure that your budgets are correct.

And if you haven’t done so already speak to me about how you can reduce this liability permanently!

Fiona Kelly - fkelly@dohertybaines.com

Tel: 020 7355 3033

ABC’S of Industrial

2010-10-06T12:10:00.005+01:00

ABC’S
dohertybaines have been instructed by Aberdeen Asset Management to let Units 12/13 Lyon Way, Greenford. This is a warehouse of 17,101 sq ft that is to be fully refurbished.

On behalf of British Airway Pension Fund and Canmoor Developments a further 3 units have recently been let at Vision on Kendal Avenue, Park Royal.

Parax Offices have taken Unit 1 3,898 sq ft, Slurp Wine have taken Unit 5 4,593 sq ft and CCS Media have taken Unit 6 4,652 sq ft.

At Victoria Industrial Estate, Victoria Road, Park Royal Unit 9 3,754 sq ft has been let to LBC Express. dohertybaines were acting on behalf of Segro.

For further information, please contact:

Michael Haines - mhaines@dohertybaines.com
020 7355 3033

Building Consultancy Refurbishment

2010-10-04T15:32:00.008+01:00

The newly refurbished buildcon team consist of John Atkinson, who has been promoted to head of the department and the appointment of Colin Hughes as a senior surveyor. Along with the existing workload preparation of schedules of dilapidations and negotiations, acquisitions surveys and contract administration works they will be Managing a number of projects. These include the NFU conference centre, redevelopment of an existing multi level car park, office refurbishment in Bromley and warehouse alterations and installation of dock levellers in Basildon. A number of other projects are in the pipeline which they hope to assist our clients on in 2011.

If you would like to contact them, please call 020 7355 3033. Speak to their secretary, Teniele Martin, if they are unavailable. They are also contactable on the following email addresses.

John Atkinson - jatkinson@dohertybaines.com

Colin Hughes - chughes@dohertybaines.com

:

Investment Team Growth

2010-10-04T14:50:00.004+01:00

Stuart joins dohertybaines as an Equity Partner with over 18 years experience in National Business Space agency and investment. Stuart has mostly focused on industrial and office investment at Holley Blake and more recently Colliers International. Acting for a broad range of institutional, property company and developer clients, he has structured a wide range of portfolio/single asset acquisition and disposals, sale and leasebacks and fundings. He is a keen golfer and squash player and has recently taken up kitesurfing.

Stuart can be contacted on 020 7355 3033
email: satkinson@dohertybaines.com

Investment Update.....Grosvenor Street acquisition completes!

2010-09-06T12:39:00.000+01:00

A private client of dohertybaines has recently completed the purchase of the long leasehold interest in 21-22 Grosvenor Street for a price of £17.25 million. The property was substantially refurbished and extended in 2008 and comprises a prime office and residential building of approximately 14,500 sq ft. It is let to a number of tenants including Sunseeker, Punj Lloyd, Baer Capital and Banco Itau Europa. In addition, dohertybaines have been appointed to manage the property and administer the service charge on behalf of the client.

Any further information please contact Robert Nelson on 020 7355 3033 or rnelson@dohertybaines.com

Conference Building - Stoneleigh

2010-09-03T11:29:00.001+01:00

dohertybaines are project managing the planning and construction of a new Conference and catering facility at the NFU headquarters at Stoneleigh. The building will be single storey of 568sq ft, capable of housing a maximum of 100 delegates and having 72 covers within the restaurant, a raised decked area will overlook the pond. The building will have a grass roof but there is no plans to utilise this area for the grazing of animals! Additional parking and hard standing facilities are to be provided to the front of the existing parking area. The land deal is currently with solicitors and it is anticipated for the works to commence by the end of October.

John Atkinson - Associate
jatkinson@dohertybaines.com

Paradise Gained

2010-09-03T10:25:00.000+01:00

AMBASSADOR HOUSE, PARADISE ROAD, RICHMOND

On behalf of Zisman Bowyer Partnership dohertybaines’ National Office team has recently acquired c.10,000 sqft of leasehold offices in Ambassador House, Paradise Road, Richmond. The move was a historic one for Zisman Bowyer who had occupied its existing office on Eton Road for in excess of 40 years. The move marks a new phase in the company’s development and dohertybaines’ team was able to agree a lease term specifically tailored to the clients’ business plan.

Richard Ford - Partner
020 7 355 3033

4TH FLOOR, APEX PLAZA

2010-09-03T10:23:00.001+01:00

On behalf of the rapidly expanding Aldemore Bank dohertybaines’ National Office team has recently acquired c.8,000 sqft of leasehold offices in Apex Plaza, Reading. The team advised on a number of prospective locations for this new office before selecting Reading and Apex Plaza provided a perfect solution in terms of size, quality and proximity to the mainline rail station. Aldemore is currently fitting out the premises for occupation in September.

Richard Ford - Partner
rford@dohertybaines.com

2 Units Let

2010-08-24T12:22:00.000+01:00

Units 9 & 10 Hanover West Industrial Estates comprising 4,058 sq ft have been let to Nationwide Auto Centre for a term of 10 years.

dohertybaines acted for the landlord ING.

Michael Haines - Associate
Industrial Department

Industrial Comings and Goings

2010-08-24T12:02:00.002+01:00

Comings
The industrial team have taken on two new instructions, both are refurbished units both instructions are from landlords and both are from well respected funds!

The first, is on the Six Bridges Trading Estate, just off the Old Kent Road, is the second instruction on the subject estate from AXA. We have already been asked for two proposals from occupiers prior to marketing. The unit is 5,300 sq ft and is a mid terrace 1980’s build.

The second new instruction is from Threadneedle for the Langley Business Park, a 27,218 sq ft unit ideally located for the M4 corridor, Heathrow and the M25. This is also a 1980’s approx build unit.

Goings
We recently have let two units on the Compass West Industrial Estate, N17, a SEGRO owned estate and have a further one under offer. These units were approximately 2,200 sq ft each and were let at £10.50 per sq ft. SEGRO had refurbished the units prior to marketing and this assisted the marketing process.

Paul Londra - Associate
Industrial Department

New Lettings & Instructions

2010-08-02T10:46:00.002+01:00

We are pleased to announce that in the last month dohertybaines have taken on 2 new warehouses and have completed 4 deals in Park Royal.

Black Rock have appointed dohertybaines to market Units 4 & 9 Townsend Industrial Estate, Waxlow Road, Park Royal. Unit 4 is 6,071 sq ft and Unit 9 is 1,885 sq ft.

Acting on behalf of LaSalle Investment Management Unit 1 The Chase Centre, Chase Road, Park Royal (2,716 sq ft) has just been let to Datawaind Ltd for a term of 5 years.

Unit 708 A Tudor Estate, (1,755 sq ft) and 706 Tudor Estate Abbey Road, Park Royal (5,143 sq ft) have also been let to Aquaplus UK Water Distribution and to Stol Joinery respectively on behalf of Segro.

Carlo Manzi Ltd have also taken Unit 5 Royal London Estate (7,200 sq ft) Ltd for a term of 5 years.

Michael Haines - Associate

All Change for Scottish Dispute Resolution

2010-07-27T11:29:00.001+01:00

On 7th June 2010, The Arbitration Act (Scotland) came into force and which in time is to fully supersede the former Arbitration regime of Scotland which has a rather difficult and complicated set up. The new Act, however, provides a arbitration system which should be clearer and more user friendly and there will be few surprises for those familiar with the 1996 Arbitration Act that applies to England, Wales and Northern Ireland. The Act attempts to harmonise Scots law with other jurisdictions while at the same time improving on the perceived deficiencies in those other jurisdictions!

Brendan Joyce
Partner
bjoyce@dohertybaines.com

Asbestos – The Hidden Killer

2010-07-27T09:38:00.000+01:00

As property professionals we should all now be familiar with our obligations under the Control of Asbestos Regulations 2006, but that only applies to Non-domestic properties – so what about your home???
Almost half (47 per cent) of homeowners in the UK who do DIY are unaware that asbestos was used as a building material until the 1990s, new statistics from the British Lung Foundation indicates.
The charity carried out the survey as part of Action Mesothelioma Day on the 2nd July 2010, discovering that 65 per cent of people are not confident about identifying asbestos.
On top of this, one in ten (11 per cent) of survey respondents said they would try to dispose of asbestos if they came across it in their home.
Exposure to asbestos can cause mesothelioma, a form of cancer that kills one person every five hours in the UK.
British Lung Foundation Chief Executive Dame Helena Shovelton said: "Despite such a devastating illness, the general public knows very little about mesothelioma.”
"There's definitely more work that needs to be done to ensure people are asbestos aware."
Almost 14 million homes were built in the UK while asbestos was being used in construction, the charity notes.
Exposure to large amounts of asbestos fibres can also cause lung cancer, asbestosis and diffuse pleural thickening, according to the Health and Safety Executive.
Further information on Asbestos can be found on the HSE’s own website http://www.hse.gov.uk/asbestos/
Or if you are unsure about your duties under the legislation for non-domestic properties whether you are a Landlord/tenant/owner please contact us and we will gladly advise you.

Nigel Rummey - Senior Surveyor
nrummey@dohertybaines.com

New Equity Partner at dohertybaines

2010-07-21T11:14:00.004+01:00

We are delighted to announce that Stuart Atkinson will be joining dohertybaines as an Equity Partner. Stuart brings a wealth of expertise in the national Investment market specialising in office and warehouse property and development funding. Stuart’s most recent career has been at Colliers where he was considered one of their most high profile directors and highest fee earners over the past few years. We look forward to introducing our clients to Stuart over the coming months. Stuart will be a great addition to our existing team and fully compliments the skills of the other Investment partners Vince Taylor, Rob Nelson and Paul Simms. Chris Mitchell will also be joining our Investment Team from our Asset Management team in early September.

Nigel Doherty

King Sturge Property Triathlon

2010-07-15T12:11:00.011+01:00

dohertybaines is pleased to announce our mixed relay team came first at this year's King Sturge Property Triathlon last Friday on the hottest day of the year! This was mainly due to David O' Donovan's crazy training and aerodynamic lycra outfit with Rosie Donaldson bringing the winning team home on the running leg in a respectable 22 mins exactly. Chris Mitchell finished the whole course in a brilliant 1hr 25 mins 25 seconds using a wetsuit he borrowed from his 6ft 2 friend, a bike from a girl and trainers from the 80’s.

DOHERTYBAINES ARE RUNNERS UP IN PRP 5-A-SIDE TOURNAMENT

2010-07-15T12:00:00.009+01:00

dohertybaines, fully clad in brand new kit (thanks Doré), competed in the inaugural “Park Royal Cup” 5-A-Side football tournament held at the Goals Soccer Centre in Wembley on the 14th July.

The team started well with an unprecedented five wins in quick succession all with clean sheets by veteran keeper John Atkinson. Highlights included a Matthew Varley super strike from within his own half, some “Archie Gemmillest” ™ footwork from Chris Mitchell, Graham Pepper dominating prior to suffering a recurring knee injury banishing him to the side lines and a brilliant, yet extremely bold, spot kick from Nick (I love rugby) Spencer through the legs of the unsuspecting, then rather shocked Asperity Employee Benefits goalie. The team went on to hold Thames Valley University to a 0-0 draw securing their place in the final. Unfortunately the “Dream Team” were trounced 3-0 in the final in part due to fatigued line-up facing a well drilled Lakethorn Contract Cleaning team (who evidently had played together at least once before) and partly due to an incensed Paul Wise spending a large part of the game time debating with the referee over an obvious foul at the kick off. Calls for a video referee appeal were swiftly dismissed. In the changing room banter which ensued it became apparent that our own Michael Haines (Industrial Agent) listed the winners as one of his clients so the official line is now that we let them win in line with dohertybaines’s commitment to client care.

There was a quiz after, however due to BBQ queue issues and WAG commitments dohertybaines did not compete leaving playmaker Phil Disbrey (who’s WAG is currently in Canada) to accept the runners up medals on behalf of the team.

The event was organised by the Park Royal Partnership, sponsored by McVitie’s and was in aid of Macmillan Cancer Support.

Rates Savings Result!!!

2010-07-14T15:47:00.000+01:00

Its been a very successful couple of weeks for the business rates team and our clients.

Highlights include a reduction on the 2005 Rating List for a client with a warehouse in Bishop’s Stortford. Due to the backdated savings the client will be receiving a cheque for almost £77,000.

We have also just reduced the Rateable Value on an office in Mayfair on the basis of disturbance from the adjoining building site. The reduction has resulted in savings of over £137,000 and a very happy client. If you have building works near you then please let us know so that we can assess if you have grounds for an appeal. We’ll never charge anything unless we are successful in saving you money so it’s always worth speaking to us.

Fiona Kelly
Associate

New G-Shock East retail store

2010-07-01T13:21:00.003+01:00

Our client, Casio, opened a new G-Shock East store successfully opened last week in Dray Walk, within the busy and fashionable Truman Brewery estate, just off Brick Lane and set amongst a back drop of niche boutiques, opposite Rough Trade records. The music group Hadouken opened the store and who stayed on to perform a DJ set into the night. The store has been designed to reflect the G-Shock range’s toughness whilst remaining true to the surrounding area’s industrial look and feel. This we have achieved by using raw materials throughout the product displays and other fittings. East London, and in particular this part is synonymous with creativity and we intend the store and brand to get involved with this community. As such it will also feature art and sculptures from local artists, commissioned to emphasize the elements of G-Shock toughness, displayed in a dedicated window area.

Brendan Joyce - Partner

Promotions

2010-06-28T17:10:00.010+01:00

We would like to congratulate the following people on being promoted.

John Atkinson - Associate
Building Consultancy

Michael Haines - Associate
Industrial Agency

Philip Disbrey - Associate
Asset Management

Christopher Mitchell - Senior Surveyor
Asset Management

Schedule of Conditions

2010-06-28T17:08:00.000+01:00

At a recent seminar hosted by a law firm the viability of schedule of conditions were raised. The intention is to limit the liability of the incoming tenant at the end of the term. However, a number of surveyors acting on behalf of the landlord do not consider them when preparing the terminal schedule of dilapidations. The reason being that the schedules are usually photographic only and they have been photocopied numerous times making it difficult to identify anything on the photos. Usually the original schedule of condition cannot be found rendering the copy ineffective.

To ensure the tenant is protected by the schedule, a full schedule should be produced including text, photos and a plan with the location of the photos marked on. A colour copy should be held by the client and their solicitors and only colour copies made. The benefits at the end of the term will outweigh the initial cost and will ensure the tenant does not have a claim against them for items they have no obligation to repair. If any significant items are identified on the schedule of condition it would be beneficial for the future tenant to have a building survey undertaken to ensure that any items that may be progressive can be removed from their obligation.

In short, pay a small cost now and have a potential large cost at the end of the term or, pay a slightly larger initial cost and ensure the costs are limited at the end of the term.

John Atkinson - Associate

A new face in the Asset Management Department

2010-06-28T14:33:00.005+01:00

We welcome Olivia Minns to the dohertybaines team. She will be working in the Asset Management department, assisting Graham Pepper, Mike Thomas and Rosie Donaldson on several contracts including NFU, Canada Life, SJP and Cicero Enterprises as a Property Administrator.

Olivia Minns

Hanrie Kolesky - Operations Manager

BLINK AND YOU WILL MISS OUT

2010-06-28T14:25:00.004+01:00

Blink, the high fashion retailer has just acquired a unit on the Clocktower estate in Isleworth on a five year term. This is the first letting on the recently completed scheme where we are discussing terms with occupiers on 6 other units. Following a successful occupiers open day, enquiries are still coming in from parties looking for modern efficient industrial accommodation close to Heathrow, the M3 and with easy access to central London.

Paul Londra - Associate

Air Conditioning units with R22

2010-06-16T09:46:00.002+01:00

Whilst on site with a Mechanical and Electrical Consultant we inspected some Air conditioning units which had Ozone depleting HCFC compound R22 as the refrigerant. It is now Illegal to use virgin HCFC’s but recycled HCFC’s can be used up until 2015.

The AC units will require annual maintenance and it is expected that although the units can be topped up with recycled R22, the components of the AC units will not be available as the manufacture of them ceased in 1998. This could potentially be a substantial cost for the tenant/occupier of a property if the units are not in repair at the termination date. R22 can be stockpiled to service existing units and systems but it is envisaged by many to run out before 2015. We recommend that the liability owing to the AC is reviewed and the necessary steps are taken to ensure that tenants are aware their system does or does not contain HCFC’s/R22 refrigerant. The unit will need to be in repair and serviceable at the end of the lease term, if not, they could be liable to replace the system as a whole.

John Atkinson - Chartered Building Surveyor

Property Triathlon 2010 – watch this space – again

2010-06-15T11:39:00.005+01:00

Since its inception in 2007 dohertybaines have had a great record at the annual property triathlon held by King Sturge with 2 winning titles and several in the top 5. This year dohertybaines have 2 entries in the competition: Chris Mitchell entering as an individual male 26 – 28 and David O’Donovan, Rosie Donaldson and another tbc (thanks Niall Crowley) entering as the mixed relay team.

It’s a fantastically attended event with a multitude of lycra outfits. Be sure to watch out for us, we’ll be the ones with the trophies and champagne.

Rosie Donaldson - Chartered Surveyor

http://www.propertytriathlon.com

More Pitfalls in Break Clauses

2010-06-09T16:25:00.001+01:00

It is quite common knowledge that for many break clauses to be effective, the whole of the quarter’s rent should be paid even if the break occurs mid-quarter.

What may not be such common knowledge is that if there is no specific allowance in the break clause, the tenant may not be entitled to any refund of rents that could be apportioned after the break date.

If the break clause is silent on the apportionment of rent which straddles the break date, one suggestion is that when making payment, the tenant should reserve their right to recover rent for the period after the break date in the hope that they can reclaim it back once the break has been successfully exercised.

Brendan Joyce Partner

Breaking News Breaking News - Pop Star at db

2010-06-04T09:15:00.002+01:00

The new Head of Central London Agency Alex Brown has an exciting past as a Pop Star ! please check out Alex's videos for Supernatural Love at http://www.youtube.com/watch?v=l6yk3_VB9Dc&feature=related and That's what it Takes at http://www.youtube.com/watch?v=bDfU1pYV9M8&feature=related

Now that U2 have cancelled their appearance at Glastonbury we may try to get Bono into the Investment team over the summer months !

New Head of Central London Agency Arrives at db

2010-06-04T09:07:00.003+01:00

We are dleighted Alex Brown has now joined the firm as a Partner and Head of Central London Agency. Alex is one of the most respected agents in the business and brings a depth of market knowledge and deal making expertise which will be of interest to occupiers and landlords.

Alex Brown Partner - Head of Central London Agency

Rooftop Telecoms Sites – Break Notices from Mobile Phone Operators

2010-06-02T10:44:00.003+01:00

The major mobile phone operators are currently rationalising their portfolios. This is part of their various joint infrastructure projects aimed at reducing the size of their portfolios to save rent and operating costs generally. We have received several break notices recently for a number of our clients’ sites. Some of these are using straightforward clauses in the lease or licence but others are based on rather more obscure concepts such as their beneficial use of the site being adversely affected. We are working with our clients and their solicitors to resist the ones which appear to be invalid. I am aware that other landlords in the industry are having similar experiences, so if you have received a break notice recently, please contact me if you’d like to liaise and compare notes.

John Woodhouse - Assocaite
jwoodhouse@dohertybaines.com

Significant Rate Savings

2010-05-28T11:50:00.002+01:00

We have recently had a great result on a rates appeal for Apcoa Parking. We reduced the Rateable Value on each of two car parks in the North West by more than 30% leading to significant savings over the 5 years of the 2005 List and a substantial rebate cheque.

Everyone is concerned about saving money these days and although many times Business Rates are an unavoidable tax it does pay to speak to an expert on ways of reducing your liability. The legislation can be difficult to navigate but there are often ways to reduce your liability.

We’re always happy to offer free advice on possible ways of reducing your Business Rates, give me a call if you’d like more information.

Fiona Kelly - Associate Rating

New Instruction from Safestore

2010-05-28T09:45:00.004+01:00

Rent Reviews and Lease Renewals come in all shapes and sizes and we have just been instructed By Safestore Limited to negotiate the rent review with their tenant VIP Lounge in Edgware. The premise comprises 12,900 sq ft of first floor good quality banqueting space and ancillary areas with seating for around 600 guests at any one time.

Brendan Joyce - Partner Professional Services

Industrial Lettings Off to a Great Start !

2010-05-28T09:16:00.009+01:00

The db Industrial Team have got off to a great start in our new financial year. 7 Units totaling 62,991 sq ft of warehouse/industrial space have been let in the first month in Park Royal.

Highlights include letting 4 Units for Segro at Victoria Industrial Estate totaling 21,829 sq ft and another 2 Units at Premier Park totaling 28,034 sq ft and 13,058 sq ft at Unit 2 Nucleus on behalf of Aberdeen Asset Management

Michael Haines - Associate Industrial
mhaines@dohertybaines.com

New Client Requirements

2010-05-28T08:47:00.002+01:00

We have just been asked to look at opportunities for these new requirements

West End Offices- 1,500 sq.ft leasehold

West End Offices - 5,000 Sq.ft leasehold

M4 Corridor Offices - Sites or Buildings 100,000 sq.ft freehold

Witham/Braintree/Chelmsford Offices 5,000 sq.ft freehold or leasehold

NEW MULTI-MILLION POUND INITIATIVE LAUNCHED TO FIND BRITAIN'S TOP THINKING BUSINESSES

2010-05-26T14:22:00.002+01:00

We are proud to be associated with the Park Royal Partnership who have just announced a new HSBC multi million pound initiative, designed to find Britain's Top Thinking Businesses!

Thinking businesses across the UK could win a share in £90 million worth of funding, a financial reward of up to £100,000 each and an overseas Thought Exchange Trip for networking and business development, all courtesy of HSBC Commercial Banking. Launching today, ‘Business Thinking 2010’ is a new initiative from the Bank to help support and fund the UK’s most innovative and forward thinking companies.

Businesses with turnovers in excess of £2million can log onto www.hsbc.co.uk/businessthinking and put forward their vision and ambitions for the company, how its management team intends to achieve them and how the prize would help them succeed.

David O'Donovan - Partner Industrial

Going Green and Getting Profit for Clients

2010-05-26T12:29:00.004+01:00

We have recently partnered with Ecovest to explore the opportunities of creating renewable solar energy in the UK. Our partners have over 8 years experience in roof mounted solar systems throughout Europe. They recently completed a JV partnership with BP for one of the world’s largest solar Photovoltaic (‘PV’) installations.

Among the benefits are an additional revenue stream, increasing the occupiers green credentials and hence the marketability of the premises and the production of local, on-site energy

We are focusing on large owner occupiers and landlords who have buildings with a foot plate in excess of 80,000 sq ft in southern England. This is the beginning of a new industry in the UK. We believe that through our real estate expertise and close relationships with prominent occupiers in each of the market sectors dohertybaines can assist our new partners in achieving market leadership in this industry.

This is a really exciting opportunity for us and for our clients. if you would like to get further detailed information please contact me.

Niall Crowley
ncrowley@dohertybaines.com

A bit of creative thinking unlocks value

2010-05-26T11:08:00.002+01:00

We have just saved a retained client circa £500,000 of holding costs to lease expiry at two sites over the course of Q4 2009 and Q1 2010.

Both properties were let to a client of dohertybaines, both were within their onerous legacy portfolio. We negotiated with each of the client's Landlords and introduced one new tenant – agreeing a surrender of the retained client’s lease and a new lease to the new tenant. At the second property db negotiated the removal of the sub tenants break clause and a simultaneous assignment to the client's sub tenant. The market is tough but its a matter of energy and creative thought.

Graham Pepper Partner - Head of Management

New Head of West End Agency at dohertybaines

2010-05-26T09:49:00.001+01:00

We are delighted to announce that we have appointed Alex Brown to head up our West End Agency Team. Alex was previously at The Deerbrook Group and a director at CBRE and Crossland Otter Hunt. Alex will be focusing on growing all aspects of our West End business and one of his first priorities will be to appoint another experienced West End agent into the team. We have great faith in the resilience of the West End market and look forward to introducing Alex and his team to existing clients as well as welcoming new clients to the firm.

Nigel Doherty

Move Management Highlights

2010-05-26T09:37:00.002+01:00

We are are currently on-site for the relocation of FTSE 100 Technology Company Invensys plc's Headquarters office in London SW1. The scheme includes the acquisition of the 17,000sqft Grade A office accommodation with office fit out design and procurement, thereafter the move management and relocation of the office over one weekend, and the negotiation and settlement of the Break Clause dilapidations with LandSecs. Its a great project and we were working flat out to ensure we met the deadlines.

Paul Phillips - Partner Building Surveying

Beware of Break Clauses

2010-05-26T09:32:00.000+01:00

Break Clauses are being analysed by landlords in great detail at the present time to see if there is any challenge which can be sustained to their validity. We have just agreed the successful defence of a client's break clause in the somewhat turbulent Bracknell letting market with delivery of specific works before the break date, under the landlord's targeted financial settlement and below client's allotted business case budget. A good result.

Paul Phillips - Partner Building Surveying
pphillips@dohertybaines.com

ISO Audit

2010-05-25T13:09:00.002+01:00

We are currently going through the process of renewing our ISO Certification. This involves a review on all operational procedures, reviewing client satisfaction and continual improvement on all internal audit procedures, schedules and records and ensuring legal compliance on all matters. We are confident that we will pass with flying colours!

Hanrie Kolesky - Operations Manager