Tag Archives: commercial property

Awards, News

Bromwich Hardy bag more accolades

A leading independent commercial property agency has again topped the leaderboard for agency deals.

Coventry-based Bromwich Hardy was ranked as the top agency in Warwickshire in the EG rankings for the final quarter of 2022. The firm was also ranked joint second in Worcestershire.

The Coventry-based firm recorded 16 lettings and occupational sales in Warwickshire over the final quarter of last year, more than twice as many as its nearest rival in the county.

Founding partner Tom Bromwich said: “We know we had a really good year in 2022, despite difficult trading conditions across the country, but it’s always good to have that success verified by independent data.

“I’m delighted that we have again been acknowledged as the leading commercial property agency in Warwickshire, and I look forward to us working to maintain our position in 2023.

“Our success is down to our incredible team and I would like to thank them for all their continued hard work.”
The EG tables cover all occupier sales and lettings but exclude lease renewals and deals under NDAs at the time of publishing. They are based on transactional data shared by members of the EG Radius community.

News

Experts warn many businesses may be ‘painting over the cracks’ on structural property issues

Having experienced one of the hottest summers on record in 2022, followed by heavy rainfall and storms as we approach the middle of winter, properties of all sizes are at risk of subsidence and long term structural damage from ground movement. For businesses in particular, the effects of this can be significant operational downtime, hefty repair costs, and worst case; demolition or relocation of business premises due to unsafe structural conditions.

Mainmark – the ground strengthening and subsidence specialists – are warning that it is time to stop painting over and hiding structural cracks. Mainmark is advising facilities managers, commercial tenants, and all non-domestic property owners to take note of new cracks and monitor the size of older ones to know when the damage is serious and action is needed – rather than the default of painting over or hiding unsightly cracks on business premises.

Along with this advice comes a new downloadable crack gauge tool for businesses or FMs to be able to monitor and record crack sizes and changes themselves to recognise bigger issues before they arise: https://mainmark.co.uk/crack-gauge/

Tom Kavanagh, general manager at Mainmark says: “In September, the Met Office reported that 2022 was so far the driest year on record since 1976. When there is a heatwave or warm weather, the soil and ground beneath a building excessively dries out. Depending on your soil type – which varies greatly depending on where your business is based in the UK – its ability to retain water can lead to subsidence, where the ground shrinks and pulls the property down slightly. Cracks are one of the first and most obvious indicators of movement.

“Given the significantly warm summer we have just experienced, we are encouraging facilities managers and owners of commercial buildings to record visible cracks, new and old, regularly. We have introduced our free crack gauge for an easy and guided way to monitor cracks around the premises, instead of simply hiding or covering over these because they might be unsightly for employees or customers.

“We are already beginning to see the structural impact on buildings from this summer’s weather with a significant increase in enquiries across the UK for foundation repair, raising, re-levelling and re-support on both domestic and business properties. It can be tempting to avoid the issue and default to the common approach of painting over the cracks, but this only masks the problem aesthetically and ignores the bigger issue at play; subsidence.

“Subsidence not only devalues the property for land owners and businesses, but it can also be costly and difficult to rectify at later stages with traditional methods like underpinning. It also compromises the structural safety for tenants too, so even if you are renting the space for commercial reasons, it is important to alert your landlord or local authority. It can also make a property harder to sell in the future, and increase the cost of insurance premiums significantly, if left to worsen.

“However, not every wall crack is serious or indicates an issue; many UK buildings will have these. Particularly new builds as buildings “settle”. But all cracks should be monitored over time as they are the biggest warning sign of severe foundation damage, along with jammed doors or windows, or sinking floors.”

Mainmark’s technical sales engineer David Hedley shares three signs that indicate building cracks are serious:

1. Large cracks that start at windows, doorways or corners of buildings
Cracks that indicate a significant issue tend to form in these areas first. They may not be as obvious as ones in the middle of the ceiling or in a very noticeable spot, so checking routinely for cracks in these areas is essential. It’s less spotted by businesses or employees so cleaners or facilities managers could be briefed to check.

2. Cracks are wider than about 5mm (or half a centimetre)
The size of the crack is important, as well as how quickly it forms. A 1mm crack that has been the same for three years is not a big worry, but one that is 0.5cm and growing is a red flag for owners of commercial premises, as the building will require further investigation and action when they are of this significant size.

3. Cracks that are jagged, horizontal or vertical, zig-zagged, stepped in brickwork, or follow mortar lines
With most properties being plastered internally or wallpapered, these cracks can sometimes be a bit hidden. And in commercial settings or an office space, may be in an unused area and go unnoticed. As soon as a jagged or zig-zag crack is visible, consult professional advice or alert a landlord as soon as possible.

News

Aussie Caine joins Bromwich Hardy team

An Australian surveyor has swapped the Outback for the landlocked Midlands after joining one of the region’s leading commercial property agencies.  

 

Caine Gilchrist joined Coventry-based specialists Bromwich Hardy as a surveyor on October 3, and will work across the whole agency, property management and marketing aspects of the business. Originally from Australia, Caine is now based in Sutton Coldfield and is working towards associate member status of the RICS. He said: “I am thrilled to be joining such a dynamic and forward-thinking agency as Bromwich Hardy, and I can’t wait to start working with clients to make the most of their commercial property assets. 

 

“It’s a great team here and I am very happy to be a part of it.” Caine’s arrival marks the first anniversary of Bromwich Hardy becoming a limited liability partnership (LLP) following the retirement of founding partner Richard Hardy. Fellow founding partner Tom Bromwich said: “I’m delighted to welcome Caine to Bromwich Hardy and I’m sure he will be a valuable addition to the team. 

 

“Caine brings with him extensive and varied experience gained both in Australia and the UK, and we’re looking forward to working with him and helping him on the journey to full RICS status.  “While Richard remains part of Bromwich Hardy on a consultancy basis, his retirement last year marked a major milestone for the business with the transition to an LLP. But what has not changed is our commitment to continuous investment in our people, and to the local area, to make sure we remain at the forefront of the commercial property landscape.  

 

“As well as welcoming Caine, we have appointed Mark Booth as graduate surveyor after he successfully completed a year-long placement with us while at Coventry University, and we have another student, Rob Lord, now working with us on his placement year from Sheffield Hallam University. 

 

“Our previous graduate surveyor, Sam Cooper, was named Rising Star at this year’s Midlands Property Awards, so we like to think our investment in our professionals is paying off.” 

 

As well as investing in its own staff, Bromwich Hardy has invested heavily in its local community with sponsorship deals for Coventry Rugby Club, teenage shooter Hattie Cloves, Kenilworth Rugby Club, Cardiff Met netball club, BMW racers Guy and Alex Povey and Coventry Alvis Football Club. The firm was also a prominent supporter of Coventry’s year as UK City of Culture.

News

Top rate for warehouse as strong demand continues

One of the best rates ever for industrial warehousing in Leamington Spa has been achieved by commercial property specialists Bromwich Hardy. 

Unit 11 T1300 at Tachbrook Park has been let on a 10-year lease to Naturally Baby Ltd. The 2,033 square foot unit is one of 15 that make up T1300, with each boasting an EPC Rating A, a 1.72 kWp photovoltaic system and a 7kW electric vehicle charging point. 

Bromwich Hardy graduate surveyor Sam Cooper, who completed the lease deal, said: “The £13 per square foot achieved on this site is thought to be a new record rent for industrial warehousing in Leamington. 

“This is the last of three units I have let for this landlord over the past six months and it shows that demand is still very high for top-quality and well-located properties. 

“Well-equipped units with great sustainability credentials are scarce in the area and demand is outstripping supply.” 

Sam, who won the Rising Star trophy at the Midland Property Awards, added: “The T1300 development has proved very popular and is now fully occupied. The wider Tachbrook Park site is home to some very big names, including JLR, and there has been no shortage of interest in this prestigious development.” 

Bromwich Hardy is one of the country’s largest independent commercial property agencies, regularly featuring in independent lists of the most active firms in the industry.  

For more information about Bromwich Hardy visit www.bromwichhardy.com
For more information about T1300 visit www.t1300.co.uk/

Commercial Property, Commercial Property News, Midlands News, News

Mini-budget gives clarity after months of drift, says Bromwich Hardy

The founding partner of one of the region’s most successful commercial property firms says last week’s mini-budget finally gives business some certainty after months of drift.  

Tom Bromwich, of Coventry agency Bromwich Hardy, said the Government’s commitment to growing the economy finally offered the business community some much-needed clarity about economic policy. 

But he warned that the next 18 months would still be a challenging period as businesses negotiated greatly-increased energy costs, rising inflation, the cost of living crisis and recruitment issues. 

“After a period in which there seemed to be considerable drift, it is welcome that we now have a clear indication of the path the Government plans to take to help business and the commercial sector through this difficult period. 

“The commercial property market remains strong despite this backdrop, and more clarity on business rates and the Exchequer’s approach to commercial tax will help provide more of the certainty that business needs.  

“The reversal of plans to increase National Insurance, scrapping planned increases on Corporation Tax, the creation of new Low Tax Zones across the UK and the cuts in Stamp Duty, all have their merits.  

“But we want to see serious moves to tackle inflation and help reverse the trend for ever-rising interest rates, as well as power being given to planning authorities and their partners to bring forward the new developments needed to meet demand. 

“We at least have a starting point with the measures announced today and the plan to halve energy bills for the coming six months which gives us a foundation from which we can move forward.  

“But as ever with these statements, the devil will very much lie in the detail, which we will study in depth over the coming days so that we can offer the highest quality advice to our clients.”  

Bromwich Hardy is one of the country’s largest independent commercial property agencies, regularly featuring in independent lists of the most active firms in the industry.  

For more information about Bromwich Hardy visit www.bromwichhardy.com 

Commercial Property, Commercial Property News, Midlands News, News, Sport

Bromwich Hardy scores with football club sponsorship

Leading Midlands independent commercial property agency Bromwich Hardy has stepped in to make sure a football club is dressed to impress for the new season.

The agency – which regularly features in league tables of the most successful firms around the country – has struck a sponsorship deal with the Coventry Alvis club.

Founding partner Tom Bromwich said the firm had agreed to sponsor the club tracksuits and leisurewear for the new season as part of its work to help a range of community and sporting organisations.

“We are delighted to be able to form a new partnership with Coventry Alvis and look forward to them enjoying a hugely successful season on the pitch.

“It’s never been more important that grass roots football has the resources to thrive and that a new generation of players has the chance to enjoy all the benefits that playing competitive sport brings.

“Clubs such as Coventry Alvis play a huge role in their communities promoting the importance of sport and we are delighted to be working with them.”

Alvis assistant manager Mark Edwards thanked Bromwich Hardy for their support.

“Sponsorship deals such as this play a vital part in ensuring clubs such as ours can thrive and we are very grateful to Tom and Bromwich Hardy for their backing. We look forward to repaying their support on the pitch this season.”

Coventry Alvis – known as the Tankmen – play in Midland League Division Two at the Alvis Sports and Social Club in the city. The club was formed in 1928 as the works team of the Alvis car and engineering company.

The deal adds to a growing list of sponsorship for Bromwich Hardy, including Coventry Rugby Club, Kenilworth Rugby, Cardiff Met Netball Club and the BMW car racing team of Alex and Guy Povey.

For more information about Bromwich Hardy visit www.bromwichhardy.com

Commercial Property, Commercial Property News, Midlands News, News, Sport

Bromwich Hardy in pole position with racing car sponsorship

Leading Midlands independent commercial property agency Bromwich Hardy has taken to the racetrack with a turbocharged new sponsorship deal.

The Coventry-based agency – which regularly finds itself in pole position in independent tables of the most successful agencies in the country – has teamed up with father-and-son car racing team Guy and Alex Povey.

The Poveys race in the all-action Gaz Shocks 116 Trophy – a one-make race formula dedicated to the BMW 116i which is now the country’s fastest-growing rear-wheel drive endurance series.

Each race lasts between 90 and 180 minutes with two mandatory pit stops and up to three drivers, there are also special sprint rounds and events are held at some of the country’s most famous racetracks.

Bromwich Hardy founding partner Tom Bromwich said he was delighted to be supporting the Poveys.

“Guy and Alex make a terrific team and it is wonderful to see a father and son being able to compete together at such a high standard in the same team.

“They bring to the racetrack all the qualities we value at Bromwich Hardy – teamwork, commitment to success and the need to bring through the next generation – and are a natural partner for us.”

Alex, aged 25, an automotive engineer with Bosch, said his 62-year-old dad had been racing for more than 20 years and had competed and won all over the world during his career.

“By contrast, this is only my second season racing having done a little bit of karting before when I was young. Last year we had a podium at Silverstone and some top 10 finishes and have had two outings so far this season at Croft and Oulton Park.

“At Croft we struggled in qualifying and started 17th out of 35. We eventually finished 14th after being hit from behind when a car with which Guy was battling lost its brakes.

“We had a great race at Oulton and were running eighth on the final lap – with every chance of moving up a couple of places – when a rival spun us out and into the barrier.

We have had to rebuild the front of the car after bending some suspension arms and smashing the front end.”

Alex said the Solihull-based team were now hoping for better luck throughout the remainder of the season.

“We cannot thank Bromwich Hardy enough for the help and support they have given us and it is tremendous to see such a successful company getting involved in motor racing at this level. We hope to reward their support with some great results later in the season.”

For more information about Bromwich Hardy visit www.bromwichhardy.com

Commercial Property, Midlands News, News

Investment opportunity at former supermarket site

A former Leicestershire supermarket site which is currently being refurbished into two new shops and a gym has gone on the market for £3.3million.

The 1.5-acre freehold site at Hawley Road, in the centre of Hinckley, is for sale through award-winning commercial property agency Bromwich Hardy.

Bromwich Hardy founding partner Tom Bromwich said: “The property is a former Lidl supermarket and measures 1.572 acres (0.636 hectares). All the refurbishment work to split the building into three units totalling 16,170 sq ft (1,520,40 sq m) is due to be completed by early July and 15-year lease agreements for all the units are already in place.

“With an annual net income of £210,996, the yield on this property is expected to be 6.39 per cent gross and 6.27 per cent net.

“This is a great opportunity to invest in a newly-refurbished site in an established retail area of one of the biggest towns in Leicestershire.

“With great transport links to the large population areas of Leicestershire, Warwickshire, the West Midlands and the South East, this is a very attractive site and we are anticipating a huge amount of interest.”

Bromwich Hardy is one of the country’s largest independent commercial property agencies, regularly featuring in independent lists of the most active firms in the industry.

For more information about Bromwich Hardy visit www.bromwichhardy.com

News

Bromwich Hardy scores with new sponsorship deal

Award-winning commercial property agency Bromwich Hardy has signed a new sponsorship deal with Coventry Rugby Club.

Tom Bromwich, founding partner of the Coventry agency, said the deal was an excellent opportunity for the expanding firm to show its continuing support for its home city.

“We are very fortunate to be growing the business and now find ourselves working all across the country,” said Tom.

“But Coventry remains our home and we are delighted to be able to play our part in supporting the city through this sponsorship deal.

“Coventry Rugby Club has a proud tradition in the history of the sport in this country – with a long list of international players having represented the club – and are an ambitious and forward-looking club.

“Last season they finished eighth in the Championship – the second tier of English rugby – and reached the final of the Championship Cup. Off the field, they play a huge role in the community through their foundation and outreach activity, and it is a pleasure to be involved with them.”

Matt Cannon, general manager from the club, said he was delighted to welcome Bromwich Hardy to the team.

“It’s fantastic to welcome Bromwich Hardy on board at Butts Park Arena – they have a fantastic reputation locally and I cannot wait to work with partner Dawn Cooper and Tom to drive the relationship forward.

“Their professionalism and work within the community is something we admire and we are thrilled to announce this partnership and enjoy many match days together in the Platinum Marquee.”

The deal widens Bromwich Hardy’s sporting sponsorships which also include being shirt sponsor for Kenilworth Rugby Club and support for Coventry Alvis Football Club and Cardiff Met Netball Club.

Bromwich Hardy is one of the country’s largest independent commercial property agencies, regularly featuring in independent lists of the most active firms in the industry.

Law, News, North of England

North East lockdown legal start-up celebrates centenary milestone

A start-up Independent Legal Advice business based in the North-East is celebrating reaching a centenary milestone this month, after receiving its 100th instruction.

Founded by North-East based solicitor, Joe Phelan, during the Coronavirus pandemic in late 2020, the legal start-up – Phelan Independent – has since been working with solicitors’ firms and commercial finance brokers across the country to offer their clients expert, fast and affordable independent legal advice on a range of matters.

With the pandemic acting as a catalyst for many businesses to embrace new ways of working, Phelan Independent seized the opportunity to disrupt the often slow, expensive, and cumbersome status quo by offering Independent Legal Advice, delivered by senior solicitors, via online platforms including Microsoft Teams and Whatsapp within 48 hours of instruction.

Receiving its 100th instruction is testament to the start-up’s ability to accelerate the turnaround times associated with multiple commercial transactions, where independent legal advice is required prior to individuals separately signing documents, such as personal guarantees or occupier waiver forms.

Joe Phelan explains the significance of the milestone, along with his plans for the future:

“Setting up a new business can be a tough decision at the best of times but pressing ahead with launching Phelan Independent during a global pandemic was certainly a daunting prospect. That said, having worked as a solicitor for many years I knew first-hand how hard it can be for clients to obtain high quality Independent Legal Advice quickly and affordably.

“Because the requirement for Independent Legal Advice typically only becomes evident shortly before deals are ready to complete, it’s common for transactions to become delayed, while separate representation is sourced, instructed and the advice provided. Keen to complete, clients are often forced to accept high fees and less than desirable turnaround times. I wanted to change all of that and, spurred on by the pandemic, set up Phelan Independent to meet increasing demand for remote provision of Independent Legal Advice delivered quickly and by a qualified solicitor.

Joe continues: “Growth has been steady since we established the company and we’re proud to now be securing repeat business with local, regional, and national law firms, as well as from members of the National Association of Commercial Finance Brokers; an organisation that represents just under 2000 brokers across the UK and which appointed Phelan Independent an associate patron last year. Reaching 100 instructions feels like a big achievement and one that we’re keen to build on in the coming months and years as we continue to serve as ‘deal enablers’ to law firms, brokers and clients alike.”