Category Archives: Commercial Property News

Commercial Property News, Dental Health, Healthcare News, News

Scots Group in £775k Dental Purchase

“12th Practice won’t be the last”

An award winning Scottish Dental group has completed the purchase of Eyemouth Dental Practice, with a range of specialised services to be introduced.

Infinityblu Dental Care and Implant Clinic was founded by a Scottish Young Dentist of the Year, Chris Barrowman, in Pitlochry in 2007.

Since then the growing company has added a further 10 regional practices nationwide, with over £10m invested and over 150 staff employed in its team.

 

The £775 000 purchase of Eyemouth Dental Practice Ltd adds to Infinityblu’s existing Scottish Borders practices in Duns, Peebles, and Galashiels, making it 12 practices overall.

It is understood that the group intends to expand further, with city locations also being considered.

 

The acquisition will see all existing staff retained, with dental services expanded by visiting Dentists from across existing Infinityblu practices.

Investment will be made to property and equipment over the next 6-12 months.

 

Digital intra oral scanning and CBCT imaging systems will be introduced in the short term, followed by a program of refurbishment.

The reputable practice will continue to run, for the time being, as Eyemouth Dental Practice ahead of a full rebrand to Infinityblu by the end of this summer.

 

“I am incredibly excited for the future at Eyemouth,” said Infinityblu founder Chris Barrowman, who will expand the range of in-house services to include implants, full arch implants, Orthodontics, Oral surgery and Endodontics.

“To purchase a practice which already shares a similar vision and ethos is amazing and, by adding a fourth Borders practice, it gives the team the extended support to become part of our community.”

 

In the Borders region specialised dental services can often be referred to Edinburgh, necessitating a 100 mile round trip for patients.

However, the need for long distance travel will be eliminated with Infinityblu offering a broader range of specialised and complex services in-house.

The new practice will cater for existing and new patients as well as patients referred to Infinityblu by other Borders-based dentists.

 

“This practice is already well established and has a great reputation. The faces which patients are used to seeing will remain here and, as we grow the services, there will be the opportunity for recruitment in the area,” said Chris Barrowman.

He added: “The goal is to offer a wide range of services in Eyemouth, which will significantly reduce wait and travel time for patients. It will also reduce the need for patients to see several dentists to achieve the results they want.”

 

Infinityblu has practices in Pitlochry, Dunkeld, Crieff, Auchterarder, Auchtermuchty, Alyth, Callander and Killin as well as its Borders locations.

 

The group cares for over 60,000 patients and performs hundreds of dental implants every year, from single implants through to full arch implants.

Business & Property News, Commercial Property, Commercial Property News, News, North of England

Fairfield Business Park in Penistone sold to lead tenant

Fairfield Business Park in Penistone, Barnsley, has been sold in a multi-million-pound deal.

Over the past two years, the site has been fully developed from being unoccupied into a thriving business park by family-run, Barnsley-based property and land specialists, Fairbank Investments Ltd.

The fully-let park has been bought by international packaging business Neal Brothers, for a seven-figure sum. Neal Brothers are the main tenants on the site, running their export packaging business from their onsite warehouse.

Located in the heart of Penistone, the historic former David Brown plant shut at the end of 2020 when former owner, SPX, transferred its production and manufacturing processes to an alternative UK production site, leading to job losses and vacant premises.

The 1930s factory development, once a major manufacturing hub employing more than 1,500 people at its peak production period, was given a new lease of life after being acquired by Fairbank Investments in March 2021.

Fairbank Investments bought the four-acre Green Road site after spotting its huge potential to create employment and restore economic prosperity to the town. The development progressed with the Fairbank Investments team prioritising eco-friendly design and sensitive building practices, employing the same meticulous design and sustainability ethos displayed in all of its regeneration projects.

Opened by shipmaker Cammell Laird in the late 19th century, the site was mothballed in 1930 but taken over by industrialist Sir David Brown in 1935. Sir David established foundry, pumps and fabrication operations in Penistone which produced bullet-proof castings during the Second World War and later specialised in manufacturing pumps for the global oil and gas industry.

The park currently consists of 14 independent offices totalling 15,000 sq ft which is home to a range of flourishing independent businesses with a further 66,000 sq ft of warehouse space which has been occupied by main tenants, Neal Brothers since late 2021.

Neal Brothers’ warehouse has prime access, high eves, roller shutter doors and an overhead crane. The facility has enabled the US-based international business to extend its existing operations in the north of England. The company has recruited staff locally and the operation has grown significantly since launching three years ago.

Other successful businesses operating from the site range from financial planning experts and a construction and building specialist to numerous clothing and accessories retailers and a pet grooming salon.

Alex Sewell of Fairbank Investments, commented: “We are thrilled that our vision to revitalise a local site of such historical importance has been fully realised and we have sold the business park as a thriving commercial hub, resulting in job creation and a bright future for the area. The legacy is an important one for the town following a few years of uncertainty but there is a diverse range of businesses on site, which have all created local employment opportunities and fully regenerated the area.

Added Joseph Green of Fairbank Investments: “When the production facility closed in 2020 during the coronavirus pandemic, this resulted in widespread redundancies, and the future of the site in Penistone looked incredibly bleak. As a local family business in the area and living locally ourselves, we wanted to take positive action and restore the site to its former glory, fully benefitting the town and the local economy. We are incredibly proud and satisfied that we’ve achieved this objective and have left the business park in very secure and capable hands. We will watch with interest as the site continues to flourish and the businesses on site go on to even greater success. As a progressive property business, we look forward to delivering similar outcomes for existing and new local regeneration projects.”

Two years ago Fairbank Investments acquired the historic partially Grade II-listed coal drops, signal house, and former railway siding site at Penistone in Barnsley, signalling a new chapter of growth and development for the area.

It recently unveiled the highly anticipated next phase of development for the site. With the next stage of the site’s transformative journey, Fairbank Investments is marking a significant moment in Penistone’s history, with the development promising an inspiring blend of heritage preservation and modern rejuvenation.

—

Pictured: (Left) Joseph Green and Alex Sewell (right) of Fairbank Investments Ltd who have sold the Fairfield Business Park in Penistone to Neal Brothers.

 

Commercial Property, Commercial Property News, Construction News, Liverpool, North of England

Winvic and Royal London Mutual Insurance Society Limited Celebrate Groundbreaking at Former Rolls Royce Site in Liverpool

Winvic Construction Ltd, a leading main contractor that specialises in the design and delivery of private and public construction and civil engineering projects has won a £35.8 million contract to design and construct four warehouse facilities at Atlantic Park in Bootle, Liverpool for Royal London Mutual Insurance Society Limited. The companies celebrated the start of the 41-week programme at a groundbreaking event.

Atlantic Park is 52-acres and is the former site of the Rolls Royce Engineering Works Factory and other industrial and commercial buildings. Winvic will first be excavating existing concrete slabs and preparing the ground for construction. The four industrial warehouse units are 40,000 sq ft, 50,000 sq ft, 110,000 sq ft and 125,000 sq ft and each will comprise two-storey office space.

The scheme has been designed in accordance with Royal London’s Sustainability Strategy, which aims for new build property developments to achieve Net Zero by 2030. Winvic will be delivering the project as Net Zero Carbon in Construction and employing its tried and tested Life Cycle Assessment (LCA) process, which is aligned with the UKGBC and LETI, and third-party verified. As part of the design strategy, 30 per cent GGBS will replace in situ concrete, 98 per cent recycled scrap metal will be utilised in the reinforcement steel and water recycling will reduce mains water use by 40 per cent compared to the BREEAM target.

 

Photo caption: CGI of Atlantic Park

 

BREEAM Excellent and an EPC A rating is being targeted and the project will deliver a 10 per cent biodiversity net gain; bird, bat and insect nest boxes will also be installed. The project delivery also includes the installation of new services, separate concrete service yards an access road and all hard and soft landscaping. 20 per cent of the car parking spaces will be enabled for electric vehicles.

 

In line with Winvic’s commitment to leaving a positive legacy in communities local to projects and S106 requirements, the contractor has developed an Employment and Skills Plan. Winvic will continue to work closely with Sefton@work and InvestSefton – as well as its supply chain partners – to match employment and training opportunities with people from the local area and collaborate with local education providers to provide career talks and work experience placements.

Representatives from Royal London Mutual Insurance Society Limited, Gardiner & Theobald and Winvic Construction Ltd

Danny Nelson, Winvic’s Head of Industrial, Distribution and Logistics, commented: “We’re delighted to have impressed the Royal London team during the tender process and are ready to deliver four industrial facilities as Net Zero in construction for our new client. I’d like to thank them so far for a great start. Our social value team has also begun planning and will be using their collaborative skills to bring benefits to local people. The site isn’t without its challenges due its former use, but we have successfully remediated the ground on numerous projects and are confident to deliver the scheme by the end of 2024.”

 

Matthew Barnes, Senior Asset Manager from Royal London Mutual Insurance Society Limited, added: “We are pleased to be partnering with Winvic to deliver the next important phase of the Atlantic Park master plan, bringing much needed employment and economic growth to the northwest region. The scheme will showcase Royal London’s commitment to its sustainability principles and its ambition to create real long-term investment value for its members.”

 

For more information on Winvic, the company’s latest project news and job vacancies please visit www.winvic.co.uk. Join Winvic on social media – visit X (formerly Twitter) @WinvicLtd – and LinkedIn.

 

Header image caption:

  1. CGI of Atlantic Park
Commercial Property, Commercial Property News, Construction News, Property News

Dynamic plans unveiled for Penistone’s historic coal drops heritage site

A prominent family-run, Barnsley-based property and land company, has unveiled the highly anticipated next phase of development for Penistone’s coal drops, signal house, and former railway siding site.

With this next stage of the site’s transformative journey, Fairbank Investments is marking a significant moment in Penistone’s history, with the development promising an inspiring blend of heritage preservation and modern rejuvenation.

The company has revealed updated designs that present a blend of tradition and innovation. Available for viewing on Fairbank Investments official website, the renderings offer a compelling glimpse into the future, showcasing a meticulously crafted vision for the site’s revitalisation while honouring its rich historical legacy.

The new designs demonstrate how Fairbank Investments envisages how the coal drops and the land will look once fully transformed. The plans are subject to final approval.

Throughout the design process, Fairbank Investments has remained steadfast in its commitment to collaboration and community engagement. While continuing to work closely with local authorities and the community, the project team ensures that every aspect of the development aligns seamlessly with the needs and aspirations of the Penistone community.

Steeped in history, the coal drops site stands as a poignant reminder of Penistone’s industrial past. In recognition of its cultural significance, Fairbank Investments has embraced the opportunity to breathe new life into these iconic structures, preserving their heritage while welcoming a new era of prosperity.

Fairbank Investments has a proven track record of successful, sustainable development projects such as the former David Brown factory on Green Road in Penistone. The company revitalised the site after transforming it into a new business park with 15,000 sq ft of offices and a further 66,000 sq ft of warehouse space, creating new jobs and attracting multiple businesses to the area, prioritising eco-friendly design and building practices. The same meticulous design and sustainability ethos is also being applied to the coal drops development.

Addressing concerns regarding current access issues with grace and responsibility, Fairbank Investments remains fully committed to public safety. While construction and planning is underway, access to certain areas will be removed. However, alternate routes closeby will ensure that businesses along St Mary’s Street remain accessible to all.

Fairbank Investments will continue to work with the community and local authorities to ensure a secondary access upon completion of the works, reaffirming their commitment to responsible development practices.

Antony Green, Managing Director of Fairbank Investments, commented: “Our vision extends beyond bricks and mortar; it’s about creating a lasting legacy that enriches the fabric of Penistone’s identity. We’re honoured to play a role in shaping the future of this historic site.

“Working in tandem with local authorities and community groups, we pride ourselves on delivering positive, proactive development results and have demonstrated this repeatedly over many years of business success. We turned the redundant site at the old David Brown site in Penistone into the thriving Fairfield Business Park, generating employment and helping multiple start-up companies and we intend to do the same at the coal drops site. Our current development represents a bright new beginning for a site that without our investment and vision would have likely remained a permanent wasteland.”

Fairbank Investments updated site plan designs are available to view on the company’s website: https://www.fairbankinvestments.com/s-projects-side-by-side

 

Commercial Property, Commercial Property News, Construction, Construction News, Midlands News, News, Shrewsbury

Boost for Shropshire Business as premier commercial business park gets underway

Morris Property has been granted planning permission at its landmark 28-acre site on Oteley Road, Shrewsbury, adjacent to Shrewsbury Town Football Club, creating highly sought-after commercial space available for purchase or rent at this prime location from Summer 2024.

As a long-awaited allocated employment land release on this side of Shrewsbury town centre, the development will help fuel the local economy providing speculative and bespoke units ranging from distribution warehousing to offices, with environmental benefits and infrastructure to meet the demands of the 21st century occupier.

 

Chris Morris, Director, Morris Property commented: “Despite keen demand for business units on this side of the town, we are aware that economic times remain tough, so we have designed our units to be cost and energy-efficient.  We are providing flexible commercial space ranging from 1,850 ft² to 175,000 ft² underpinned by Morris Property’s assurance of quality build and service.

He continued: “We have been working closely with Shropshire Council as supporters of inward investment serving Shropshire and Mid Wales and, in partnership with the WMCA and Frontier Development Capital (FDC), we are excited to be transforming this site into a vibrant commercial centre.”

 

Andy Street, Mayor of the West Midlands and WMCA Chair, said: “It’s been a challenging couple of years for the West Midlands region but throughout that time the WMCA has continued to invest in schemes such as Stadium Point to help drive economic growth.

“These investments are providing new commercial spaces for our job-creating businesses so it’s great to see this latest scheme getting underway. Once completed we expect upwards of 350 jobs based on the site, which is great news for local people and the town’s economy.”

 

Stadium Point, with its build-to-suit opportunities, has excellent welfare amenities with good public transport links to the site and cycle and EV parking. There is a footpath network through the scheme with landscaped break-out areas providing ideal environments for business occupiers and staff to enjoy. Supermarket Lidl sits adjacent to Stadium Point with Meole Brace Retail Park a short walk away, offering a range of facilities including Marks & Spencer Food Store, Sainsbury’s, Next and Boots.

 

Kieren Turner-Owen, Associate Director, FDC commented: “FDC are privileged to be working alongside Morris again after our successful funding of Paragon Point, Telford. The loan facility being provided for the speculative industrial development at Stadium Point is a prime example of how the WMCA funding* can be deployed, accelerating job creation in the region. Stadium Point highlights Shrewsbury and the wider West Midlands’ excellent industrial offerings and we very much look forward to seeing the progress over the coming months.”

The premier destination is highly accessible for transport with its easy access to the A5 Shrewsbury By Pass, connectivity to Telford and the motorway network to the West Midlands and beyond.

“We pride ourselves on our collaborative approach and are pleased to already be working with a number of regional companies developing plans to build their businesses with us at Stadium Point” Chris Morris, Morris Property added.

 

Morris Property has a track record of delivering high spec, successful business and trade parks and their 20-acre fully occupied Vanguard Park at Battlefield, North Shrewsbury has been hailed a major success providing 240,000 ft² businesses including Volkswagen Inchcape Dealership, Toolstation, Howdens and Euro Car Parts.

Morris Property is part of a fifth-generation family-run property group which has been building, restoring and leasing property for over 100 years.

*The Commercial Investment Fund is provided by the WMCA and administered by FDC.

 

Commercial Property, Commercial Property News, News

A Guide for Businesses Venturing into Commercial Real Estate

In the dynamic landscape of business, strategic investments can be a key driver of growth and success. For many businesses, considering commercial real estate is a logical step toward expanding their footprint and securing long-term stability. However, navigating the complexities of the commercial property market requires careful planning and consideration. In this article, we will explore essential tips for businesses looking to invest wisely in commercial real estate.

 

  1. Define Your Objectives: Before diving into the commercial property market, businesses must clearly define their objectives. Are you looking for a space to operate your own business, or are you considering property as an investment to generate rental income? Understanding your goals will help you make informed decisions throughout the process.
  2. Thorough Market Research: Conducting comprehensive market research is crucial to identify potential locations, understand market trends, and assess the competitive landscape. Analyse factors such as local economic growth, demographic trends, and the demand for commercial space in the chosen area. This information will guide your decision-making process and minimize risks.
  3. Financial Planning: Developing a detailed financial plan is fundamental to a successful commercial property investment. Consider not only the purchase price but also additional costs such as property taxes, maintenance, and potential renovations. Factor in potential vacancies and market fluctuations to ensure your investment remains financially viable over the long term. Use financial comparison sites like Propp to find the best deals when it comes to financing your plans.
  4. Engage Professional Expertise: The commercial real estate market is intricate, and seeking professional guidance is paramount. Engage with experienced real estate agents, property managers, and financial advisors who specialize in commercial properties. Their expertise will provide valuable insights, helping you make informed decisions and avoid potential pitfalls.
  5. Location, Location, Location: The adage holds true in commercial real estate. The location of your property significantly influences its value and potential for success. Consider proximity to transportation hubs, the demographic of the area, and the overall business environment. A prime location can attract customers, tenants, and enhance the overall value of your investment.
  6. Understand Zoning Regulations: Zoning regulations vary by location and can significantly impact how a property can be used. Familiarize yourself with local zoning laws to ensure your intended use aligns with regulations. This knowledge prevents legal complications and ensures a smoother investment process.
  7. Evaluate Potential for Growth: Assess the growth potential of the area where you plan to invest. Consider upcoming developments, infrastructure projects, and overall economic trends. Investing in areas poised for growth can yield substantial returns over time, making your commercial property a valuable asset.
  8. Consider Lease Flexibility: If you intend to lease the commercial space, consider offering flexible lease terms to attract quality tenants. This may include shorter lease durations, rent escalation clauses, or options for tenants to renew. Flexibility can help maintain a steady income stream and foster positive tenant relationships.
  9. Environmental Due Diligence: Conduct thorough environmental due diligence before finalizing any commercial property transaction. Identify potential environmental risks associated with the property and address them appropriately. This step not only protects your investment but also ensures compliance with environmental regulations.
  10. Mitigate Risks: While commercial property investment can be lucrative, it is not without risks. Diversify your investment portfolio to spread risk and consider purchasing insurance to protect against unforeseen events. Adopting a risk-mitigation strategy is essential for the long-term success and sustainability of your commercial real estate venture.

 

Investing in commercial real estate can be a rewarding endeavour for businesses seeking to secure their future and foster growth. By adhering to these essential tips and approaching the process with careful consideration, businesses can navigate the complexities of the commercial property market with confidence. Remember, a well-informed and strategic approach is the key to unlocking the full potential of your commercial real estate investment.

 

Commercial Property, Commercial Property News, Construction, Construction News, Marches, Shrewsbury

Agents appointed for landmark commercial development in Shrewsbury

Agents Towler Shaw Roberts (TSR) have been appointed by Morris Property to market its landmark 28-acre site, Stadium Point on Oteley Road in Shrewsbury. The site will provide flexible distribution warehousing and office space for new build and build-to-suit opportunities, with units ranging from 1,850-175,000 ft².

Liz Lowe, Head of Development at Morris Property commented: “We are delighted to once again be working with Towler Shaw Roberts on this exciting development. We value their experience and in-depth knowledge of local market conditions and look forward to early uptake of these new units, designed to meet the demands of today’s business occupier.”

Liz continued: “With easy access to the A5 and connectivity to the West Midlands, Stadium Point is ideally located on the south side of Shrewsbury with excellent public transport links and controlled parking on site. Our units will benefit from a high standard specification which prioritises energy efficiency and helps reduce operating costs.”

 

Speculative and bespoke units will be made available with a construction period of between 6-9 months. Pre-lets and forward sales are available now with the first phase of construction seeing units available from late Spring 2024. The buildings are being constructed to a ‘shell’ finish so occupiers have a blank canvas to work with, ensuring the internal configuration reflects their specific operational requirements.

TSR have been providing expert professional advice on commercial property since 1991 and have worked with Morris Property for over 30 years. As a progressive and proactive firm, TSR have been recognised since 2003 by the nationally recognised property publication, Estates Gazette, as offering clear, professional and consistent advice.

 

Toby Shaw, a partner at Towler Shaw Roberts said: “Stadium Point is a hugely significant commercial development for Shropshire, with much anticipation in Shrewsbury and further afield for this flagship scheme.

“The creation of this iconic and strategically located site has been eagerly anticipated by local companies together with regional and national operators seeking a key base to expand in the county and beyond. The scheme has been carefully designed to provide flexible and innovative accommodation to meet occupiers’ wide-ranging requirements for the 21st century.

“We are delighted to be involved as the appointed agents for Stadium Point on what will become the premier commercial/logistics location for Shrewsbury and we look forward to continuing our long-standing relationship with Morris Property, following the successes of their other flagship developments at Vanguard Trade Park and Centurion Park on the north side of town.”

Commercial Property, Commercial Property News, Mid Wales, News

Mid Wales town centre restaurant and B&B for sale with Halls Commercial

A prominent Mid Wales town centre restaurant with eight en suite letting rooms is on the market with Halls Commercial due to the retirement of the owners.

Offers in the region of £500,000 are being invited for Parkers B&B and Restaurant, 1 Short Bridge Street, Newtown, which has a five star B&B award. The 70-cover restaurant has a five star hygiene rating and music and entertainment licence.

The attractive, three storey building has the restaurant on the ground floor with the high quality, en suite letting rooms on the upper two floors. The rooms have a self-contained entrance or access from the restaurant.

The restaurant area, which has an attractive glazed shop frontage, covers around 1,091 sq ft and a breakfast room, used by B&B guests, is around 302 sq ft. The property also has a 382 sq ft commercial kitchen, ancillary facilities and WCs.

All fixtures and fittings are included in the sale of Parkers which has two off-street car parking spaces at the rear of the property.

Situated on the River Severn, Newtown is an established market town and administrative centre with a significant catchment area.

The largest town in the rural county of Powys, Newtown is 33 miles from Shrewsbury, 13 miles from Welshpool 43 miles from the coastal university town of Aberystwyth.

For more information about Parkers, contact Halls Commercial on Tel: 01743 450700.

Commercial Property, Commercial Property News, News

Industrial property take up in Wales drops in second quarter of year

The second quarter of the year saw take up of large industrial property in Wales reach 200,000 sq ft, down significantly compared with the same period last year, according to new research by global property consultancy Knight Frank.

The level of activity for properties over 50,000 sq ft was 177,000 sq ft lower than during Q2 2022 and less than half the number of transactions witnessed in Q1 this year.

Neil Francis, head of Logistics & Industrial at Knight Frank in Cardiff, said: “The figures comprised one sale in North Wales and two lettings in South Wales, with the stand out deal being the letting of the newly constructed 50,000 sq ft unit at Junction 35, Pencoed by Deeside Regeneration.

“This was let to Sainsbury’s Supermarkets Limited on a 10 year lease and the investment is now being sold in the market with good levels of interest in acquiring this opportunity.”

He added: “I would describe the market as inconsistent this quarter and we have a number of large units under offer which we had hoped would have completed by now. With a push towards getting these completed before summer we do expect Q3 to record higher take up.”

The Knight Frank research showed that availability in Wales for the quarter stood at 5.7 million sq ft, up by  600,000 sq ft on Q1. Of this, 450,000 sq ft can be classed as Grade A space with St Modwen Park, Newport offering two units of 106,000 sq ft and 116,000 sq ft, both of which are attracting strong interest at the quoting rent of £8.75 per sq ft.

In addition construction work is progressing well at the 52,582 sq ft RYB1 at Rhyd y Blew in Ebbw Vale with good levels of interest received from a range of occupiers

Neil Francis said: “Of the 5.7 million sq ft availability, 1.6 million sq ft is the Ford site and we still wait to understand who is acquiring this and the plans for this site in the future.

“In my review of 2022 I said that the wider UK economic pressures could impact on business viability and could in turn increase availability levels as 2003 progresses. We have seen this in Q2 with a number of closures announced and with further business failures rumoured we expect the availability of second hand stock to increase.

“Positively though we are still seeing demand from occupiers keen to own property. For example, Knight Frank is marketing a 55,000 sq ft unit that had two parties bidding, both had cash, and the price secured is close to asking. With a number of freehold properties likely to become available we expect similar sentiment into Q3.”