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Monday, 23 May 2011

dohertybaines Planning Consultant

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.
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.

Wednesday, 20 April 2011

Heathrow relocation for Bonded Services

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.

Tuesday, 15 March 2011

SEGRO Lettings

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

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.

Monday, 7 March 2011

SEGRO reshuffles its Heathrow advisers

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.

Thursday, 10 February 2011

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

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.”

Friday, 4 February 2011

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

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.

Tuesday, 1 February 2011

Are you still paying empty rates?

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

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