Latest property articles


June 14, 2018

Bulleys rewards loyalty and hard work with three promotions


Category: Property News
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Pic cap@: Newly promoted at Bulleys - James Bird, Max Shelley and Richard Brookes

Bulleys, the leading Black Country commercial property consultancy, has made three promotions in its agency and property management teams.

James Bird, who has been with Bulleys for 12 years, has been promoted to senior associate in the agency department. Max Shelley, who joined Bulleys six years ago, is promoted to associate.

Richard Brookes, who joined Bulleys’ property management team five years ago, is also promoted to associate.

Noel Muscutt, partner at Bulleys, said: “These promotions reflect not only the contribution of our three colleagues but also their commitment and loyalty to the firm.

“They are a key part of the service Bulleys provide to their clients and through these promotions the partners recognise their involvement in the continuing growth of the firm.”

Bulleys was established in 1965 as a commercial and industrial property consultancy covering the West Midlands, Staffordshire and Shropshire. In 2015 the firm grew with the addition of Martin Bloomer Associates and Bradbury Commercial and has three offices in Wolverhampton, Oldbury and Telford.

Ends (165 words)

For further information, please contact:

Andy Skinner, ASAP PR – 01789 490786, mobile 07990 978257

Editors’ notes
Established in 1965, Bulleys is an established commercial and industrial property consultancy covering the West Midlands, Staffordshire and Shropshire. The firm has three offices in Wolverhampton, Oldbury and Telford.



May 23, 2018

The Post House set to deliver for city’s first time buyers and investors


Category: Property News
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The former Gloucester Royal Mail offices on Eastern Avenue are to be brought back to life in an innovative development of much needed one and two bedroom apartments.
Cheltenham developer County to County has teamed up with Birmingham-based Elevate Property Group in a joint venture which will see one of Gloucester’s most prominent buildings renovated to provide 48 apartments.
The L-shaped development, now known as The Post House, is the former Royal Mail House in Eastern Avenue, Gloucester and was part of the Royal Mail’s sorting centre operations which have now ceased on that site.
The three storey building will provide 34 one bedroom and 14 two bedroom apartments with prices ranging from £108,000-£123,000 for the one bedroom apartments, and £154,000-£184,000 for the two bedroom apartments.
Unusually for similar residential developments, The Post House offers generous parking with one space for every one bedroom apartments and two spaces for the two bedroom apartments.
Sarah McKinnon of agents Hamptons International in Cheltenham, which has been appointed to sell the apartments, said: “Location is always a critical factor in the success of any new residential development and The Post House scores very highly for access to the surrounding area.
“And the developers, County to County and Elevate Property Group, are recognised for the quality and specification they deliver in all their projects.
“This is one of the most exciting residential developments to come to the market in Gloucestershire and the South West in a very long time.
“There is very little stock available in this price range and built to this quality in the Gloucester area, and so we anticipate The Post House will prove extremely popular.
“The one and two bedroom apartments are priced to attract interest both from first time buyers and investors looking for a buy-to-let opportunity” she said.
Built in the 1950s, The Post House is arranged in an L-shape with two wings either side of a central art deco style stairwell and atrium which will be retained and provide a stylish entrance and introduction to the development.
Gloucester city centre, the Cathedral and railway station are approximately two miles to the west, and Kingsholm Stadium, home of Gloucester Rugby, is just 1.5 miles away.
The Post House fronts on to the roundabout junction with the A38 Eastern Avenue and Barnwood Road, as well as Corinium Avenue which connects to the A417 and junctions 11 and 11a of the M5. Surrounding amenities include local shops, supermarkets, fast food outlets, retail parks, pubs, hotels, restaurants, public parks and good schooling.
Work is due to start on site in June and The Post House show apartment will be launched to the public in September.
Completion is anticipated in Spring 2019. More details are available by calling 01242 420082 or emailing mckinnons@hamptons-int.com
Ends (461 words)

Prepared and issued by Andy Skinner of ASAP PR – 01789 490786 or 07990 978257.



May 21, 2018

Nearly 170 finance jobs fill final floors at Telford’s top offices


Category: Property News
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A finance group has moved nearly 170 jobs into the final floors at one of Telford’s top commercial properties, in a deal sealed by Bulleys Bradbury.

The commercial property consultancy has attracted Cabot Credit Management, trading as dlc, and Orbit Debt Collection Ltd to take the first and second floors at One Telford Plaza, the landmark Grade A office buildings in the town centre.

Orbit has expanded from its Shrewsbury offices, moving around 70 jobs into Telford, while dlc has relocated nearly 100 staff from Northamptonshire. Both companies belong to the Cabot Credit Management Group.

The moves means that One and Two Telford Plaza are now fully let, with the HMRC having moved hundreds of staff into offices across 13 floors in another deal secured by Bulleys Bradbury earlier this year.

Richard Bradbury, director of Telford-based Bulleys Bradbury, who market the development for Telford Plaza UK Limited, said: “This is another major letting for Telford, bringing a significant number of jobs to the town.

“Telford Plaza has become an ongoing success story, attracting a number of high-quality occupiers which the landlord is naturally very pleased to have on site.

“These two lettings, together with the huge HMRC deal, has resulted in both Plaza One and Two now being fully let, bringing many valuable jobs to the town.”

The two floors taken by Orbit and dlc each extend to 7,671 sq ft.

Orbit, established in 2000, is a specialist utilities industry credit management business working with more than half of the UK’s water companies, while dlc, established in 1979, is a leading provider of debt recovery and business process outsourcing services.

John Sharman, managing director of UK servicing at Cabot Credit Management, said: “Orbit had outgrown its existing offices in Shrewsbury, although we’ve kept that office open for back-up support and disaster recovery options.

“It made sense to house the two sister companies, Orbit and dlc, side by side in Telford. Cabot already has a number of other sites around the UK and we were keen to create a centre of excellence in the Midlands.

“We quickly identified Telford Plaza as the ideal location. It has an on-site café, is close to hotels, gyms and eateries and near to the train station and the main shopping centre.

“Telford itself is an emerging city with great transport links, attractive office accommodation and a good available workforce, which makes it a good place to grow our servicing business.”

Mr Sharman added that Orbit’s offices at Telford Plaza were also large enough for future expansion.

Ends (433 words)

For further information, please contact:

Steve Dyson, ASAP PR – 01789 490786

Editors’ Notes
Bulleys Bradbury was established resulting from a merger of Bulleys Telford Office and Bradbury Commercial Ltd. Bulleys were established in 1965 and have built an enviable reputation as local specialists in the field of industrial and commercial property consultancy. Bradbury Commercial was established in 2007 by Richard Bradbury who has over 25 years’ experience in the local commercial property market. The combined companies benefit from a wealth of experience and ability to deliver, making Bulleys Bradbury one of the leading property consultants in the Shropshire and the wider West Midlands.



May 11, 2018

Giant Redditch town centre store on the market


Category: Property News
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One of Redditch’s best known and biggest town centre retail properties is being brought to the market after a decision by British Heart Foundation to move premises.

Known to many still as “Tony’s Handyman” after the store that occupied the site for decades, the three storey, 10,143 sq ft unit at 7, 8 and 9 Market Place fronts on to Church Green in the heart of Redditch.

The building was originally built for Woolworths some 60 years ago and is now on the market to let or for sale with Redditch experts, John Truslove.

Director Ian Parker said: “This is an interesting building in the most central location in Redditch. It is close to all the town’s main facilities, including Redditch Town Hall and Redditch Public Library, with the Kingfisher Centre and its extensive retail offering next door.

“It has a huge frontage measuring over 56 feet and the ground floor extends back 108 feet, giving a very large sales area of 5,500 sq ft.”

At present the property is on the market with a quoting rental of £60,000 per annum for the 10,143 sq ft, but the owners will consider a sale.

Ian Parker added: “It currently has A1 retail permission but it might be suitable for A3 use in the restaurant/bar sector.

“This is the first time in many years that a retail unit this size has come on the market around Church Green and Market Place and we are keen to talk to retailers and other leisure users with the imagination and flair to take advantage of the property’s premium location.”

Ends (264 words)

For more information, contact:

John Truslove, Daralbee House, Archer Road, Redditch, B98 8DJ
01527 584242

Prepared and issued by Andy Skinner of ASAP PR, 01789 490786, mobile, 07990 978257.



May 8, 2018

New law on mobile phone masts to be explained at Birmingham property conference


Category: Law NewsProperty News
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Thursfields Solicitors will explain how new regulations about mobile phone masts affect landowners at a regional property event in Birmingham later this month.

John McLean, a senior associate at Thursfields’ Birmingham office, is appearing at the Royal Institution of Chartered Surveyors (RICS) conference at Aston University on Thursday 24 May.

He will be discussing the details behind the new Electronic Communications Code, which came into force on 28 December 2017.

John McLean, who specialises in telecommunications law, said: “The reformed Electronic Communications Code has drastically changed the relationship between landowners and telecoms operators with regard to mobile phone masts.

“The new code seeks to substantially increase nationwide connectivity, making it more difficult for landowners to remove operators from their land, which can be particularly problematic if they are planning redevelopment projects.

“I will be explaining at this seminar how template agreements or leases that have previously been used will need to be amended to be fit for purpose for future use under the new code.”

Mr McLean is an experienced commercial property solicitor who joined Thursfields in 2016, having previously spent 11 years working at Eversheds LLP in Birmingham.

He has been acting for landowners for over 10 years in relation to agreements under the previous Electronic Communications Code, and has been explaining the new code at a number of RICS’ seminars this year.

He added: “The new Code includes various changes to assignment, upgrading and sharing, security of tenure, and valuations, all of which I will cover in detail.”

The RICS’ regional conference at Aston University on 24 May will be packed with the latest update for chartered surveyors on land, property and the built environment. For more details and to book spaces visit https://ww2.rics.org/uk/events/conferences-seminars/cpd-days/cpd-day-birmingham/

Ends (285 words)

For further information, please contact:

Dani James, Business Development Manager, Thursfields Solicitors
9-10 The Tything Worcester Worcestershire WR1 1HD
djames@thursfields.co.uk 01905 677066

Or

Steve Dyson, ASAP PR – 0781 8004575

www.thursfields.co.uk
Twitter - @Thursfields
LinkedIn - www.linkedin.com/company/thursfields
Notes to Editors

Thursfields Solicitors is one of the region’s longest established and reputable law firms, with more than 140 staff in eight offices across Worcestershire and the West Midlands. Thursfields Solicitors provides a full range of legal services to business and the private individual, including property, family, employment and commercial law as well as probate and litigation. The firm has offices in Worcester, Kidderminster, Halesowen, Sedgley, Stourport-on-Severn, Solihull and Birmingham.


New law on mobile phone masts to be explained at Birmingham property conference


Category: Law NewsProperty News
Click for larger image
Thursfields Solicitors will explain how new regulations about mobile phone masts affect landowners at a regional property event in Birmingham later this month.

John McLean, a senior associate at Thursfields’ Birmingham office, is appearing at the Royal Institution of Chartered Surveyors (RICS) conference at Aston University on Thursday 24 May.

He will be discussing the details behind the new Electronic Communications Code, which came into force on 28 December 2017.

John McLean, who specialises in telecommunications law, said: “The reformed Electronic Communications Code has drastically changed the relationship between landowners and telecoms operators with regard to mobile phone masts.

“The new code seeks to substantially increase nationwide connectivity, making it more difficult for landowners to remove operators from their land, which can be particularly problematic if they are planning redevelopment projects.

“I will be explaining at this seminar how template agreements or leases that have previously been used will need to be amended to be fit for purpose for future use under the new code.”

Mr McLean is an experienced commercial property solicitor who joined Thursfields in 2016, having previously spent 11 years working at Eversheds LLP in Birmingham.

He has been acting for landowners for over 10 years in relation to agreements under the previous Electronic Communications Code, and has been explaining the new code at a number of RICS’ seminars this year.

He added: “The new Code includes various changes to assignment, upgrading and sharing, security of tenure, and valuations, all of which I will cover in detail.”

The RICS’ regional conference at Aston University on 24 May will be packed with the latest update for chartered surveyors on land, property and the built environment. For more details and to book spaces visit https://ww2.rics.org/uk/events/conferences-seminars/cpd-days/cpd-day-birmingham/

Ends (285 words)

For further information, please contact:

Dani James, Business Development Manager, Thursfields Solicitors
9-10 The Tything Worcester Worcestershire WR1 1HD
djames@thursfields.co.uk 01905 677066

Or

Steve Dyson, ASAP PR – 0781 8004575

www.thursfields.co.uk
Twitter - @Thursfields
LinkedIn - www.linkedin.com/company/thursfields
Notes to Editors

Thursfields Solicitors is one of the region’s longest established and reputable law firms, with more than 140 staff in eight offices across Worcestershire and the West Midlands. Thursfields Solicitors provides a full range of legal services to business and the private individual, including property, family, employment and commercial law as well as probate and litigation. The firm has offices in Worcester, Kidderminster, Halesowen, Sedgley, Stourport-on-Severn, Solihull and Birmingham.



April 24, 2018

Elevate Property Group acquires Princes Gate in Solihull


Category: Property News
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Elevate Property Group, the Birmingham-based independent home builder, has been revealed as the buyer of a major Solihull office development which will be converted into residential apartments.

Elevate, along with its joint venture partner Investin plc, has acquired Princes Gate on Homer Road which consists of Consort House, Royal House and Regent House in a deal for an undisclosed sum from New York-based global real estate investment management company Westbrook Partners.

Permitted development has already been secured and work will begin this Spring on the initial phase to convert the three office buildings into 100 apartments while Elevate also considers plans for further residential development on the site of the adjacent and redundant multi-storey car park.

Elevate managing director Steve Dodd said “This is a major acquisition for us and gives us a prestigious site close to Solihull town centre, train station, the NEC and Birmingham International Airport.

Elevate has not announced full details of the scheme, but expects they will provide a mix of studios, one and two bedroom apartments, with a selection of additional penthouses on the top floors subject to planning.

Princes Gate is one of a number of deals that Elevate Property Group and Investin plc have completed in the last 12 months. Sites in other locations include Coventry, Nottingham, Derby and Ashford.

Ends (217 words)

For further information, please contact:
Steve Dodd, Managing Director,
Elevate Property Group, St Pauls House, St Pauls Square, Birmingham B3 1RB
0121 272 5729
http://www.elevatepropertygroup.co.uk
http://www.facebook.com/elevatepropertygroupuk
http://instagram.com/elevatepropertygroup
Editors’ Notes
Elevate Property Group creates exceptional architectural spaces that respect how important your home is for easy living and well being.
Prepared and issued by Andy Skinner of ASAP PR – 01789 490786 or 07990 978257.



April 10, 2018

Norton Property Investments acquires former Carillion offices for £1.45m


Category: Property News
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Six office units at Brooklands Court on Kettering Venture Park, which were formerly owned by Carillion plc, have been snapped up by a fast growing Midlands property investment company.

NPI (Kettering) Ltd, a wholly owned subsidiary of Norton Property Investments Ltd, has acquired the freehold interest in six office units for £1.45 million from Carillion plc.

The deal, which is Norton’s largest to date, provides a combined total of 13,686 sq ft with an initial net yield of 9.95%.

Norton managing director Ben Spickernell said: “Brooklands Court represents an opportunistic purchase for us, with good asset management opportunities in the short term.

“The fact that the market in the Kettering area is constrained, which drives value, was a positive for us.”

Balfour Beatty is already a tenant on the site, and a national professional services firm has just signed to take 1,862 sq ft.

Norton Property Investments Ltd was founded in 2009 by managing director Ben Spickernell who, together with his co-director and brother Tom, is driving the company’s growth as investors in UK regional town and cities.

Norton continues to source and deliver new opportunities and project manages refurbishments and redevelopments.

On Brooklands Court, CBRE Birmingham acted for Norton, and JLL and Prop-Search for Carillion.
he business is operated by brothers Ben and Tom Spickernell and Marcus
Norton was advised by law firm Emms Gilmore Liberson and Clarks Legal advised Carillion.

Ends (232 words)

For further information, please contact:

Ben Spickernell, Managing Director,
Norton Property Investments Ltd,
The Forge, Sutton Maddock, Shifnal, Shropshire TF11 9ND

Tel: 0121 285 0246

www.norton-properties.com

Editors’ Notes

Norton Property Investments Ltd is a Midlands based property investment company which takes an innovative approach to adding value to commercial, residential and mixed-use property via active asset management initiatives and redevelopment.



April 6, 2018

Elevate Property Group profit surges


Category: Property News
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Birmingham-based independent home builder Elevate Property Group has more than doubled its profit in the last two years.

Accounts for its financial year ending 30 November 2017 show sales of £24.7 million with a profit before tax of £7.5 million, against the 2015 figures of £14.4 million and profits of £2.9 million.

Managing director Steve Dodd attributed the surge in profits to the completion of a number of lucrative projects which sold well in 2017.

“In 2014 we started gaining traction with our principal project Concord House on Holloway Head. This was completed in 2015 and a new benchmark for quality properties in the city was set. The record value in the city was also set with the sale of one of the furnished penthouses at nearly £1.8m.

“2016/17 saw the completion of a number of other developments that were snapped up by eager buyers and Elevate Property Group achieved some of the highest prices per square foot at that time.

“These included Birmingham developments Queensway House, St Paul’s House and Honduras Wharf, unique developments of townhouses, apartments and penthouses all in the heart of the city centre,” he said.

Elevate now has a contracted pipeline of almost 1,000 new homes which will generate revenues in the region of £250 million over the next few years.

Steve Dodd added: “The group has a number of projects in its home city of Birmingham but has also expanded its interests to the Midland cities of Coventry, Nottingham and Derby, in the South West the historical towns and cities of Hereford, Cheltenham and Gloucester and in the South East a large-scale apartment scheme and hotel next to Ashford International railway station in Kent.”

In Birmingham Elevate has secured sites and has plans in preparation for another 250 new homes in Tennant Street, Charlotte Street, Camden Street and Cliveland Street plus School Road in Moseley.

Elevate has also acquired Princes Gate, a 65,000 sq ft office development and multi-storey car park near to the railway station in Solihull where they plan to develop another 160 homes.

Steve Dodd said that with HS2 preparatory work underway and the impact of HSBC retail banking division’s move to the city already being felt, he could not see any let up in demand.

“The Commonwealth Games will also put Birmingham in the spotlight, and if we were chosen by Channel 4 that would be the icing on the cake,” he said.

And he pointed out that if plans announced by Peaky Blinders founder Steven Knight for massive TV and film studios with six sound stages come to fruition in the next two years, Birmingham will become even more of a magnet for creative talent.

“Birmingham is attracting new jobs all the time and Elevate Property Group is building to meet that demand,” he said.

Ends (466 words)

For further information, please contact:
Steve Dodd, Managing Director,
Elevate Property Group, St Pauls House, St Pauls Square, Birmingham B3 1RB
0121 272 5729
http://www.elevatepropertygroup.co.uk
http://www.facebook.com/elevatepropertygroupuk
http://instagram.com/elevatepropertygroup

Editors’ Notes
Prepared and issued by Andy Skinner of ASAP PR – 01789 490786 or 07990 978257.



April 5, 2018

Bond Wolfe brokers bright new future for former West Brom Building Society HQ


Category: Property News
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Black Country property specialists Bond Wolfe have brokered the sale of one of the region’s flagship sites.

Society House, the former West Bromwich Building Society headquarters at 374 High Street, West Bromwich, has been sold to a specialist residential developer for £3 million.

Doncaster-based Empire Property Holdings Ltd has acquired the 45,000 sq ft office building from a London-based family investment company and will be converting the building into 100 residential units.

The building was acquired by Empire Property Holdings after the West Bromwich Building Society relocated to newly-built premises at Providence Place, West Bromwich.

Bond Wolfe managing partner James Mattin said: “It is fitting that in the year that Bond Wolfe celebrates our 35th anniversary, we have sold this locally iconic building.

“I am delighted that this building will be brought back to life as West Bromwich continues to progress through inward investment.

“The New Square and Providence Place developments have transformed the landscape in the town and it is important that High Street buildings are put to effective use to supplement the recent development in West Bromwich.”

The acquisition is Doncaster-based Empire Property Holdings’ first in the Midlands, having previously purchased properties in Yorkshire, Lancashire and the North East.

The company has an impressive track record for innovative commercial to residential renovations.

Speaking about Empire’s first investment in the Midlands, managing director Paul Rothwell said: “We are delighted to have been able to acquire Society House.

“The town centre location makes this an ideal property for conversion into residential units with easy access to local amenities and transport links.”

This sale takes Bond Wolfe’s aggregated sales for the month to over £6.5 million as demand for non- city centre opportunities continues to grow.

Ends (285 words)

For further information, please contact:

James Mattin, Managing Partner,
Bond Wolfe, West Plaza, 8th Floor, High Street, West Bromwich B70 6JJ
0121 525 0600 or 0121 524 1172, www.bondwolfe.net

Prepared and issued by Andy Skinner, ASAP PR, 01789 490786, mobile 07990 978257.

Editors’ notes
Bond Wolfe is an established commercial property practice based in West Bromwich. Its services include commercial property sales and lettings, property investment and development throughout the West Midlands.



April 3, 2018

Carillion’s former HQ up for sale for £3 million


Category: Property News
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The former Wolverhampton headquarters of Carillion, the construction and services giant which crashed into liquidation earlier this year, has gone up for sale with a price tag based on offers in excess of £3 million.

Leading Midlands property agents Bulleys and JLL have been jointly appointed to market the property at 84 Salop Street, which is currently known as Carillion House.

The detached building is located on a 0.65 acre site next to the Chapel Ash Island in Wolverhampton city centre, next door to the £55 million Westside leisure development.

There is around 37,338 sq ft of office space over six floors, with 32 car parking spaces on site and direct access onto the A4150 dual carriageway. The property comes with a nearby car park with another 58 spaces on Stephenson Street.

Noel Muscutt, partner at Bulleys, said: “This is a fantastic opportunity to acquire an eye-catching office block in a prominent location that will soon benefit from proximity to the Westside leisure development.

“The offices were comprehensively refurbished in 2015 and provide open plan accommodation that would suit occupation as a whole, on a floor by floor or part-floor basis.

“The building is close to Wolverhampton’s principal city centre business, retail and leisure offer and will be an attractive place to be based.”

The building is offered for freehold sale and is due to be available with vacant possession, although Carillion and its liquidators PwC are currently in occupation, continuing to pay rent of £437,405 pa for both the main and additional site.

Ben Kelly, director at JLL added: “We are seeking offers in excess of £3,000,000 for the freehold interest, which reflects a low capital value of around £80 per sq ft.”

The adjacent £55 million leisure-led Westside scheme encompasses land between Penn Road Island and Salop Street, including the current School Street and Peel Street car parks and the area around Market Square.

Phase one of the development which will deliver a multiplex cinema, 50,000 square feet of additional leisure space, new restaurants covering 40,000 square feet, a 100-plus bed hotel and a multi-storey car park.

Construction phase one is expected to be complete by early 2020, and then phase two will deliver more than 300 new city centre homes and 50,000 square feet of retail and leisure space by 2022.

Ends (384 words)

For further information, please contact:

Andy Skinner, ASAP PR – 01789 490786, mobile 07990 978257

Editors’ notes
Established in 1965, Bulleys is an established commercial and industrial property consultancy covering the West Midlands, Staffordshire and Shropshire. The firm has three offices in Wolverhampton, Oldbury and Telford.



March 20, 2018

REI prospers as rebirth of the Midlands continues apace


Category: Property News
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Real Estate Investors plc (REI), the AIM-listed Birmingham based Real Estate Investment Trust, with a diverse Midlands property portfolio, has reported another impressive set of financial results for the year to 31 December 2017.

Pre-tax profits were £11.3 million, up 37.8%, and underlying profits up 19.2% to £6.2 million. Revenue was up 10.4% to £14.9 million with contracted rental income up 8.7% to £16.2 million.

REI has also increased its dividend payment for five consecutive years, rising a further 19% in 2017, with a final dividend of 0.875p.

Chief executive officer Paul Bassi said: “We are fortunate to be operating in a vibrant and expanding regional economy that is set to re-establish itself as a major national and international powerhouse.

He said that REI’s strong results were recorded against a continuing background of macro-economic uncertainty.

“REI has once again prospered. The continued uncertainty provides an ideal environment in which to secure further criteria compliant assets and make strategic sales by taking advantage of a strong investor market, and our privileged network and market reputation,” he said.

During 2017, REI achieved record gross property assets increasing to £213.1 million, up 5.5% and has agreed terms for a new five year facility of £10 million with RBS, which gives the business £20 million plus in cash and available facilities to pursue future opportunities to acquire properties that fit the firm’s investment criteria.

During the year, REI acquired £18.4 million of new property, net of acquisition costs, and capitalised on a strong investor market with sales of £13.5 million.

Paul Bassi added: “During 2017 we remained focused on capitalising on the opportunities provided by uncertain markets and we continue to build a successful and resilient business, founded on a diverse and carefully risked adjusted portfolio.

“We are selective buyers in a strong investment market and our acquisition strategy is based on our ability to add value through asset management and in securing sustainable income streams.”

He said REI’s impressive progress was in no small way aided by the resurgent Midlands economy.

“We are fortunate to be operating in a reinvigorated regional economy whose strong and arguably contrarian performance is set to benefit further from the arrival of HSBC, HS2 and HMRC.

“These successes, coupled with the success of Birmingham in being awarded the Commonwealth Games for 2022 and Coventry securing the City of Culture for 2021, will re-establish the Midlands economy both nationally and internationally.

“There is no doubt that the region’s manufacturers have benefitted from the added advantage of a weakened sterling.

“The automotive sector has seen continued sales growth at JLR group, with global sales in 2017 hitting 621,109 vehicles, a 7% increase on 2016 and we also continue to be one of the UK regions that is seeing house price growth and falling unemployment.

“We remain confident that we will extract further value from the existing portfolio and see our rental income grow further, enabling us to support our commitment to a progressive dividend policy,” he said.

He added that REI was also poised to take advantage of any market correction, or Brexit “cliff edge” opportunities.

“We anticipate political and economic uncertainty, but we remain confident about the performance of REI in 2018 and we look forward to another year of opportunity and sustainable growth,” he said.

Ends (547 words)

For further information, please contact:

Paul Bassi CBE DL D.UNIV,
Chief Executive, Real Estate Investors plc, 2nd Floor, 75/77 Colmore Row, Birmingham B3 2AP

0121 212 3446

www.reiplc.com

Prepared and issued by Andy Skinner of ASAP, 01789 490786, mobile, 07990 978257

About Real Estate Investors Plc

Real Estate Investors Plc (REI Plc) is a publicly quoted, internally managed property investment company and REIT with a portfolio of 1.5 million sq ft of commercial property, managed by a highly-experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors.

The Company’s strategy is to invest in well located, real estate assets in the established and proven markets of central Birmingham and the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings. The portfolio has no material reliance on a single asset or occupier.

On 1st January 2015, the Company converted to a REIT. Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities.

The Company aims to deliver capital growth and income enhancement from its assets, supporting a progressive dividend policy. Further information on the Company can be found at www.reiplc.com



March 1, 2018

Expanding insurance firm moves into former Shropshire court, thanks to Bulleys Bradbury


Category: Property News
Click for larger image
An expanding insurance company from Sussex has moved into a Shropshire town’s former courthouse, thanks to a deal completed by Bulleys Bradbury.

Falcon Insurance Services Ltd, based in Worthing, Sussex, is recruiting up to 11 local staff to work from its new Midlands branch in Suite 1 at The Court, the old magistrates’ building on the outskirts of Wellington town centre.

Terry Mills, managing director at Falcons Insurance, said: “We wanted to expand into the Midlands and saw The Court as very convenient base.

“It’s close to the town centre and good amenities including public transport, which is what we need to get new staff to the office.”

Meanwhile, Rebecca and Bruce Shepherd, who run a private podiatry practice with four associate workers, have moved into Suite 6 in the building at 24 Church Street.

The new deals leave just two offices still to let in The Court including Suite 3, the actual former court room which used to contain the magistrates’ bench.

Richard Bradbury, director of Telford-based Bulleys Bradbury, which is marketing and managing The Court, said: “This is a landmark office building, conveniently located on the immediate outskirts of Wellington town centre.

“The building was developed as multi-let offices 18 years ago and provides six individual suites with onsite car parking to the rear.

“The property is a short walk from the town centre and railway station, and is proving to be a popular target for firms looking for impressive premises.”

Anyone interested in viewing the remaining suites at The Court should call Bulleys Bradbury on 01952 292233 or visit bulleysbradbury.co.uk

Ends (263 words)

For further information, please contact:

Steve Dyson, ASAP PR – 01789 490786

Editors’ Notes
Bulleys Bradbury was established resulting from a merger of Bulleys Telford Office and Bradbury Commercial Ltd. Bulleys were established in 1965 and have built an enviable reputation as local specialists in the field of industrial and commercial property consultancy. Bradbury Commercial was established in 2007 by Richard Bradbury who has over 25 years’ experience in the local commercial property market. The combined companies benefit from a wealth of experience and ability to deliver, making Bulleys Bradbury one of the leading property consultants in the Shropshire and the wider West Midlands.



February 20, 2018

Bond Wolfe sells and lets former Blockbuster site in West Bromwich


Category: Property News
Click for larger image
West Midlands commercial agent Bond Wolfe has concluded a major Black Country investment deal.

The West Bromwich-based firm has sold the former Blockbuster unit at 69 Dudley Street, West Bromwich, to Belwell Property Investments.

The property was purchased for £510,000 representing a net yield of 7%.

Bond Wolfe managing director James Mattin explained: “Our vendor client acquired the former Blockbuster unit after the business went into administration for the second time and collapsed.

“Following the property’s acquisition, we were instructed to market the premises and we managed to secure a let on a new ten year lease.”

The Salvation Army has taken the 3,768 sq ft building, which has on-site parking, at an annual rental of £37,500.

James Mattin said: “This deal is a classic example of what we do best. Take a vacant building, find a solid, long term tenant, thus adding significant value, and then sell the investment on.

“This is one of a number of investment deals we have in the pipeline and follows our recent £1 million plus sale of Sterry House in Stockport.”

Boss UK acted for Belwell Property Investments.

Ends (186 words)

For further information, please contact:

James Mattin, Managing Partner,
Bond Wolfe, West Plaza, 8th Floor, High Street, West Bromwich B70 6JJ
0121 525 0600 or 0121 524 1172, www.bondwolfe.net

Prepared and issued by Andy Skinner, ASAP PR, 01789 490786, mobile 07990 978257.

Editors’ notes
Bond Wolfe is an established commercial property practice based in West Bromwich. Its services include commercial property sales and lettings, property investment and development throughout the West Midlands.


Bond Wolfe sells and lets former Blockbuster site in West Bromwich


Category: Property News
West Midlands commercial agent Bond Wolfe has concluded a major Black Country investment deal.

The West Bromwich-based firm has sold the former Blockbuster unit at 69 Dudley Street, West Bromwich, to Belwell Property Investments.

The property was purchased for £510,000 representing a net yield of 7%.

Bond Wolfe managing director James Mattin explained: “Our vendor client acquired the former Blockbuster unit after the business went into administration for the second time and collapsed.

“Following the property’s acquisition, we were instructed to market the premises and we managed to secure a let on a new ten year lease.”

The Salvation Army has taken the 3,768 sq ft building, which has on-site parking, at an annual rental of £37,500.

James Mattin said: “This deal is a classic example of what we do best. Take a vacant building, find a solid, long term tenant, thus adding significant value, and then sell the investment on.

“This is one of a number of investment deals we have in the pipeline and follows our recent £1 million plus sale of Sterry House in Stockport.”

Boss UK acted for Belwell Property Investments.

Ends (186 words)

For further information, please contact:

James Mattin, Managing Partner,
Bond Wolfe, West Plaza, 8th Floor, High Street, West Bromwich B70 6JJ
0121 525 0600 or 0121 524 1172, www.bondwolfe.net

Prepared and issued by Andy Skinner, ASAP PR, 01789 490786, mobile 07990 978257.

Editors’ notes
Bond Wolfe is an established commercial property practice based in West Bromwich. Its services include commercial property sales and lettings, property investment and development throughout the West Midlands.



January 15, 2018

Lockley Homes set to deliver nine luxury homes in Colwall


Category: Property News
Click for larger image
Independent housebuilder Lockley Homes has announced its next project – a development of nine luxury houses and bungalows in the exclusive village of Colwall, near Malvern.

The news follows the successful completion of six houses and bungalows in Feckenham, Worcestershire in 2017.

Lockley Homes began trading in 2010 and previous projects include three luxury bungalows at Drakes Broughton and two executive homes in Great Witley.

The new Colwall development will include three 2 bedroom bungalows, two 3 bedroom houses and four 4 bedroom houses.

Prices for the bungalows will be £500,000 with the 3 and 4 bedroom houses ranging from £400,000 to £700,000.

In keeping with locality, the design will be Victorian-led in style and Karl Lockley, joint managing director of Lockley Homes, is confident they will prove popular.

“Colwall is a lovely area, and well liked both by commuters to nearby Worcester and Birmingham and those seeking a beautiful area in which to retire.

“With our latest development, we have aimed to provide a good range of luxury homes, from bungalows to three and four bedroomed houses”, he said.

Colwall nestles on the western side of the Malvern Hills in an official Area of Outstanding Natural Beauty. It has a good range of local schools, shops and restaurants, and is less than 30 minutes by train to Worcester and around an hour into Birmingham New Street.

It sits on the border of Herefordshire with Worcestershire.

Construction on this latest Lockley Homes development will start in March with completion scheduled for October 2018.

More details can be found at www.lockleyhomes.co.uk

Ends (259 words)

For further information, please contact
Karl Lockley, Joint Managing Director,
Lockley Homes, 3b Tournament Court, Edgehill Drive, Warwick CV34 6LG
Tel: 07812 646163
Email – mail@lockleyhomes.com
Prepared and issued by Andy Skinner, ASAP PR – 01789 490786, mobile 07990 978257



December 18, 2017

Major Telford office development back on the market


Category: Property News
Click for larger image
A prominent Telford office building which has been brought back to the market after an extensive refurbishment could attract a major new company to the West Midlands, according to the agents appointed to market the building.
Wilkinson House on Stafford Park is now being marketed by Telford based Bulleys Bradbury and offers from 6,761 sq ft to a total of 13,641 sq ft.
Bulleys Bradbury Director, Richard Bradbury, said the building’s excellent location fronting Stafford Park and very competitive rental would prove attractive not only to a Midlands occupier but also had national potential.
“Telford is in a good place, both economically and geographically and we believe that such a top quality office offering will attract a major company,” he said.
He pointed out that the quoting rental of £10 per sq ft was very competitive compared to Birmingham and wider West Midlands rates, and that the building offered an excellent opportunity to locate to this vibrant business destination.
“It could be let by the floor but we believe that quality office space of this size and this rental is at a premium in the West Midlands so we are hopeful of attracting one occupier.
“Subject to consent, it would also be suitable for showroom use and provides a very good level of onsite parking at 59 spaces," he said.
The extensive refurbishment, decoration, carpeting and a 100MB internet leased line were likely to prove attractive.
Telford is home to many national and international companies such as HMRC, ReAssure Life Insurance, Ricoh, Epson and Stadco.
Bulleys Bradbury are joint agents on Wilkinson House with Towler Shaw Roberts and Andrew Dixon and Company.
Ends (272 words)
For further information, please contact
Andy Skinner, ASAP PR – 07990 978257
Editors’ Notes
Bulleys Bradbury was established resulting from a merger of Bulleys Telford Office and Bradbury Commercial Ltd. Bulleys were established in 1965 and have built an enviable reputation as local specialists in the field of industrial and commercial property consultancy. Bradbury Commercial was established in 2007 by Richard Bradbury who has over 25 years’ experience in the local commercial property market. The combined companies benefit from a wealth of experience and ability to deliver, making Bulleys Bradbury one of the leading property consultants in the Shropshire and the wider West Midlands.



December 11, 2017

REI sells prime city centre office investment


Category: Property News
Click for larger image
Real Estate Investors plc (REI) has moved quickly to take advantage of market conditions by selling one of its prime Birmingham city centre locations.

The AIM-listed business has sold 24 Bennetts Hill, Birmingham, to Dunmore Ltd for £4 million, representing a 5.9% net initial yield. The investment property was acquired by the company in December 2014 for £2.06 million.

The announcement follows the recent news that REI had also completed a major letting of 14,291 sq ft in Peat House, Leicester, a prime city centre office building.

The building is now fully occupied and producing a total rental income of £573,466 per annum with occupiers including everythingbranded.co.uk, Bellrock FM, Innes England and KPMG.

REI CEO Paul Bassi, said: “We are delighted to complete the sale having added significant value through asset management and our Peat House asset is now fully let which completes an excellent year of activity where we have been active as a buyer, seller and transacted significant lettings.

“We have achieved a record occupancy throughout the portfolio of 95%, which will provide the foundation for further dividend growth in line with the company’s stated progressive dividend policy.

“Our market reputation, available capital and banking facilities, will allow the company to capitalise on market opportunities in 2018 and continue to grow our property portfolio,” he said.

Ends (218 words)

For further information, please contact:

Paul Bassi CBE DL D.UNIV, Chief Executive Officer,
Real Estate Investors plc, 2nd Floor, 75/77 Colmore Row, Birmingham B3 2AP
0121 212 3446

www.reiplc.com

Prepared and issued by Andy Skinner of ASAP, 01789 490786, mobile, 07990 978257

About Real Estate Investors plc

Real Estate Investors plc is a publicly quoted property investment company with a portfolio of 1,400,000 sq ft of commercial property managed by a highly experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors.
The Company’s strategy is to invest in well located, real estate assets in the established and proven markets of central Birmingham and the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings. The portfolio has no material reliance on a single asset or occupier.
On 1st January 2015, the Company converted to a Real Estate Investment Trust (REIT). Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities.
The Company aims to deliver capital growth and income enhancement from its assets with the view to implementing a progressive dividend policy. Further information on the Company can be found at www.reiplc.com



December 8, 2017

Developers pledge New Year start as High Town site gets green light


Category: Property News
Click for larger image
Plans to bring a fire-ravaged part of High Town in Hereford back to life have cleared the final hurdle.
Elevate Property Group, the Birmingham-based developer, has been granted detailed listed building and planning consent by Herefordshire Council to redevelop 16-18 High Town.
Work will start early in the New Year on the project, now known as Alban House, to build a total of 18 residential dwellings and two ground floor retail units.
The development will offer 8 one bedroom apartments, 6 two bedroom apartments and 3 two bedroom penthouses, together with one refurbished cottage, and associated parking.
The original buildings, which had their origins in the 15th and 16th centuries, with 18th and 20th century additions, were gutted by fire and have stood empty since October 2010.
For more than six years, attempts to redevelop the site failed until Elevate Property Group took a hand earlier this year and purchased the site.
The breakthrough in the six year saga came with an historical appraisal produced by Philip Belchere of Hereford architects Hook Mason Ltd.
In a report first produced in October 2015 and revised in May 2016, he secured agreement with Historic England that, in effect, the damage was too serious to warrant insisting on extensive retention of the existing fabric of the buildings.
The project will be managed and overseen by development managers BACE Construction Consultants.
A local contractor will be announced shortly.
Steve Dodd, managing director of Elevate Property Group, said: “It has been a long slog to get to this stage, with so many issues to be resolved, but I am now delighted that Herefordshire Council has given us the go ahead.
“We have worked closely with planning officers who have been supportive in understanding our vision for this site and helping us to create a satisfactory solution.”
Elevate has a tremendous track record in tackling renovation and refurbishment projects, especially in city centres. In the past two years, it has completed four such projects in Birmingham city centre now including some of the city’s most desirable homes.
Other projects include homes in Malvern, where the sympathetic yet contemporary conversion of the former Holywell chapel and music rooms in which Edward Elgar played and taught were rightly acclaimed as well as Well House school.
Steve Dodd added: “We are looking forward to bringing this site back to life and delivering new homes and shops that Hereford residents will welcome.
He said provisional prices were £135,000 for the one bedroom apartments, ranging up to £350,000. Selling agents are Arkwright Owens in Hereford on 01432 267213.
For more information, see http://www.elevatepropertygroup.co.uk/developments-grid/alban-house/
Ends (432 words)
For further information, please contact:
Steve Dodd, Managing Director,
Elevate Property Group, St Pauls House, St Pauls Square, Birmingham B3 1RB
0121 272 5729
http://www.elevatepropertygroup.co.uk
http://www.facebook.com/elevatepropertygroupuk
http://instagram.com/elevatepropertygroup
Editors’ Notes
Elevate Property Group creates exceptional architectural spaces.
Prepared and issued by Andy Skinner of ASAP PR – 01789 490786 or 07990 978257.



November 9, 2017

Clarke Oil targets further growth thanks to John Truslove


Category: Property News
Click for larger image
Ben Truslove with Emily Clarke, Steve Dixon and Paul Clarke from Clarke Oils.

A Midlands distributor has hit the expansion trail as it grows its presence oiling the wheels of the region’s industry and commerce.

Clarke Oil has moved from Studley to Redditch in a deal brokered by property agents John Truslove, who acted for landlord South Street Capital.

The business has taken 4,810 sq ft at 28 Dunlop Road, Hunt End, on a five-year lease.

Clarke Oil supplies high quality oil and greases to customers within the agricultural, automotive, commercial, plant & off-highway and industrial sectors.

Emily Clarke, a director of the family business, said: “We were looking for a bigger unit – our previous premises were 3,200 sq ft – and a site more accessible to our customers.

“We wanted somewhere close to Studley and near to local motorway networks. Dunlop Road fits the bill. Making this investment will enable us to push forward with our long term growth plans.”

Ben Truslove, a director of John Truslove, said: “It is great to see an ambitious local firm expanding rather than sitting on their laurels.

“I wish Clarke Oil every success because they are slick operators who have built a fantastic reputation over the past decade, I am sure this will be a good move for them.”

The company acts for two major players in the market. Fuchs Lubricants is the largest lubricants manufacturer in the world and Exol Lubricants is the largest UK-based manufacturer.

Clarke Oil was recently awarded Exol’s Distributor of the Year for 2016.

“We were thrilled to receive the award, Clarke Oil was incorporated in 2007 supplying local end user business with relatively small volumes, today we distribute in excess of 1 million litres a year across the UK and are still growing!” said Mrs Clarke.

Ends (286 words)

For more information, contact:

John Truslove, Daralbee House, Archer Road, Redditch, B98 8DJ

01527 584242

Prepared and issued by John Duckers of ASAP PR, 01789 490786, mobile, 07791 978705


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