Author: Andy Skinner

Large rises of people in their 30s and over 60 could trigger increased property sales once the economy adjusts to the latest Budget forecasts, according to Worcestershire estate agents Nicol & Co.

Matt Nicol, managing director of Nicol & Co, was commenting on demographic trends found in the 2021 Census for England and Wales in his latest local market update blog.

He explained that in the decade to 2021, the population of 30-somethings in England and Wales had grown by more than 700,000, while the number of people aged over-60 grew by almost two million.

Mr Nicol said: “Given the average age of a first-time buyer is just under 34 years old, that’s a substantial number of people who might be ready to buy their first home.

“Meanwhile, there’s been a sizeable increase in the cohort of people who might be contemplating downsizing, or a significant lifestyle change.

“Coupled with this is recent analysis of the average asking price of properties coming to the market since the beginning of this year, which indicates that larger properties are becoming available.

“I believe this is happening because there are more asset-rich but cash-poor property owners who have been putting off downsizing, until it becomes essential.

“Their pension income is probably being swallowed up by ever increasing costs, and so for many it will increasingly make sense to consider a smaller house that’s easier to manage, less costly to heat and better spaced for empty-nesters.”

Mr Nicol explained that the demographic changes could start making a real impact later this year, now the Bank of England is signalling the potential for lower inflation which, eventually, will mean lower interest rates.

He added: “What we’re talking about here are emerging generational wealth trends where older people want to help younger family members to buy their own house.

“For many parents and grandparents, downsizing could not only save them money, but could also free up some equity to support their children and grandchildren who are now in their 30-somethings and keen to get on the housing ladder.

“These trends take a while to prove and are, of course, dependent on wider economic circumstances, but I believe more downsizing coupled with having more over-30s in the market could soon make a real difference.

Ends (377 words)

For further media information or interviews, please call: 

Matt Nicol, Managing Director, Nicol & Co, 226 Worcester Road, Droitwich Spa, WR9 8AY

Tel: 01905 799072 

Notes to Editors

Established in 2009, Nicol & Co is an award-winning estate agency offering advice on sales, lettings, new homes and land purchase. The company combines the latest in digital media with traditional high street courtesy and service to provide the perfect blend of old and new technology.

Prepared and issued by ASAP PR – 07990 978257.

For home buyers looking to “Escape to the Country”, a new development of five outstanding barn conversions on the edge of Hampton-in-Arden is proving highly popular.

Sophie Gwynne, Land and New Homes at selling agent DM & Co. Homes, said the new homes by developers Mill Pool Development Ltd, were “flying out the door”.

Construction at Harpers Gate in Bradnocks Marsh Lane is now well under and already two of the luxury family homes have been reserved.

Sophie said: “Set on the edge of the picturesque village location of Hampton-In-Arden, these five outstanding barn conversions really do offer an opportunity to ‘Escape to the Country’ for those who are looking to escape the hustle and bustle of modern life and relocate to a stunning rural location.

“The development is in a gated community within 3.25 acres of communal gardens. Each barn offers high specification features throughout, with sizes ranging from three bedrooms to two £1.1 million plus five bedroom homes.”

She added that the developers would be discussing the finishing touches with purchasers once they had reserved their properties in order to agree how to make the best use of the communal facilities.

“Ideas that are being discussed include a lovely garden with an orchard, a barbecue area, and facilities such as a play area if there is sufficient interest from families buying the properties. It really will be a bespoke development for those that live there.”

The properties are set back from the road behind the secure private gated entrance and offers beautiful countryside walks right on the doorstep. West Midlands Golf Club and popular angling venue Barston Lakes are only a short walk away.

Interest in Harpers Gate has been so strong that DM & Co. Homes is organising an Open Day on Saturday 25 March. Viewings are by appointment only.

Harpers Gate is situated in an exclusive setting on the periphery of the highly regarded village of Hampton-In-Arden which is just 6.5 miles from Solihull town centre.

Sophie added: “Hampton-In-Arden itself is 2.5 miles away and boasts a fantastic High Street offering a diverse selection of independent shops and boutiques. There is a real café culture with restaurants, public houses, eateries and bars a plenty with excellent road and rail links nearby.”

The location is also very handy for Birmingham International Airport and Birmingham International Railway Station which are under six miles and a ten minute drive away. Junction 6 near the NEC gives access to the M42 and the national motorway network.

The developer Mill Pool Developments Ltd is a family run business founded in 1965 which is based in Shirley, Solihull, and has over 50 years’ experience working on a range of residential building projects in Birmingham, Solihull and across the West Midlands.

Harpers Gate is due for completion in July 2023, and will offer five exclusive properties, including two 3 bedroom homes at offers over £525,000 and £600,000, one of which is already reserved.

And a detached four bedroom property at offers over £850,000 and two 5 bedroom, two storey conversions priced at offers over £1.1 million, one of which is reserved, are also under construction.

For further details contact Sophie Gwynne on sophie.gwynne@dmnandcohomes.co.uk or call the Dorridge office on 01564 777314.

Ends (538 words)

For further information, please contact:

Dominic Murphy, Managing Director, DM & Co. Homes

T: 01564 777 314 E: dominic.murphy@dmandcohomes.co.uk

Unit 2, Forest Court Shopping Centre, Dorridge, Solihull, B93 8FG

www.dmandcohomes.co.uk

Editors’ notes:

DM & Co. Homes is a local, independent estate agent covering Solihull, Dorridge, Lapworth, Tanworth-in-Arden and the surrounding areas.

The company has traditional high street offices at The Forest Shopping Centre, Station Road in Dorridge and at The Pavilions, Cranmore Drive in Solihull, along with a recently launched Land and New Homes division that is quickly growing.

It has made a major investment in its head office, based on Cranmore Drive, where its land & new homes, lettings, financial advisors, sales progressors and administration teams are based.

DM & Co. Home’s media team also operates from the Cranmore Drive offices, providing photography, video and content planning that attracts more than 100,000 views a month via YouTube, Facebook and Instagram.

Redditch-based business property experts John Truslove have been named top commercial property agency in Worcestershire again – for the third year in a row.

The company, now in its 42^nd year, left the competition standing.

In 2022, John Truslove signed off 77 deals, more than all the other top five agents in Worcestershire combined.

And in Warwickshire, John Truslove ranked fifth.

The figures are revealed in the lates EG Radius On-Demand Rankings, the property trade national league table of commercial agents.

Ian Parker, joint managing director of John Truslove, said: “While we did virtually the same number of deals as the previous year, 2021 was an exceptional year as businesses scrambled for more industrial space, particularly in logistics and medical supplies, during the pandemic.

“So we are very pleased to have maintained this level of activity in 2022.

“While the EG Radius On-Demand Rankings are dominated by the national firms doing big box and mega-office deals, we continued to build on our West Midlands heartlands and saw a noticeable increase in lettings in the 10,000-15,000 sq ft range.”

These included a 15,000 sq ft factory warehouse let to Kaug Refinery at 10 Merse Road, Redditch, and a 14,400 sq ft factory warehouse let to Newtown Packaging at B2, Oxleasow Road, Redditch.

Mr Parker said there had also been a noticeable increase in sales, with owner-occupiers expanding their accommodation.

Good examples included at 15,500 sq ft factory at 7 Enfield Industrial Estate, Redditch, sold to Ashland Construction, and a 16,250 sq ft factory warehouse at Arrow Business Park, Redditch, sold to Car Spares Ltd.

He added: “We have also been very pleased to note a steady stream of investment sales including the sale of 15 apartments at Meridian Place, Bromsgrove, for £1.5 million.”

John Truslove has recorded that rents have continued to increase over the year as stock levels continue to remain low, and Mr Parker sees little sign of this changing in the short term.

“Market values also continue to remain strong, with record breaking figures being achieved in recent weeks on industrial accommodation.

“We have also seen encouraging signs in the office market with lettings in recent weeks including:  1 Brooklands, Redditch – 7814sqft let to Kingfisher Insurance Services and Studley Point where we let 6,062 sqft of offices to AT&T.”

He said he sees little sign of the Worcestershire and Warwickshire markets slowing down as John Truslove has experienced a very bright start to the year, with a number of deals currently in the pipeline.

Ends (421 words)

For more information, contact:

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

01527 584242

Editor’s Notes

Redditch-based chartered surveyors and valuers John Truslove was established by John Truslove in 1981 and has become the market leading independent agent for commercial property in North Worcestershire and North Warwickshire as well as the wider West Midlands.

Issued by Andy Skinner of ASAP PR, mobile 07990 978257.

Bond Wolfe, the Birmingham-based property specialists, have launched a new development division with £10 million in cash earmarked for new build and part-built development projects.

The company is calling on lenders, receivers and property agents across the Midlands to get in touch and explore the opportunity of taking forward stalled projects.

Chief executive Gurpreet Bassi said: “Against a backdrop of rising interest rates and construction costs, Bond Wolfe will look to acquire distressed part-built residential projects and new build opportunities to complete the construction and retain for long term rental or re-sale.”

Initially, Bond Wolfe has set up a war chest of up to £10 million and will operate without bank debt.

The decision follows a report by the Federation of Master Builders (FMB) that highlights the main barriers from stopping small to medium local housebuilders from delivering homes.

Aside from the usual constraints of lack of available land and a tortuous planning process, the report flags up access to finance as the most significant finance-related issue, by far.

Gurpreet Bassi said: “This is why we are delighted to be launching a development division to capitalise on market opportunities that arise through the onset of rising interest rates with the view to retaining assets for income or resale to help aid the UK housing shortage.

“We welcome opportunities from lenders, receivers and agents across the Midlands area.”

The FMB report found that 41% of respondents cited sites they have an interest in that are stalled for finance-related reasons.

Mr Bassi added: “We understand the hurdles that developers face – not just financial, but also supply chain, skills shortages and surges in material prices – but we can take the long view.”

Bond Wolfe celebrates 40 years in 2023, and recorded record revenues for 2022, finishing the year on over £210 million, a 20% increase on the 2021 result.

Commercial agency also set a new high, agreeing £60 million worth of deals across the UK, with auction sales totalling £150 million.

Anyone interested in teaming up with Bond Wolfe can contact Gurpreet Bassi on 0121 312 1212  or email gbassi@bondwolfe.com

Ends (348 words)

For further information, please contact:

Gurpreet Bassi, Chief Executive Officer,

0121 312 1212, Email: gbassi@bondwolfe.com

www.bondwolfe.com

Issued by Andy Skinner, ASAP PR, mobile 07990 978257.

Editors’ notes

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

Partners at national audit, tax, advisory and risk firm Crowe have given a balanced welcome to the Chancellor’s Budget.

Speaking after the Black Country Chambers of Commerce Budget event held at Crowe’s Midlands’ office in Black Country House, Audit Partner Mark Evans said it was encouraging to hear of more investment opportunities in the West Midlands.

The West Midlands will have the opportunity to bid for one of the 12 new investment zones the Chancellor announced.

“And closer to home, we heard of more money to be allocated to Tipton for regeneration” said Mr Evans,

The abolition of the lifetime allowance for pensions was warmly welcomed, including the increase in the annual limit to £60,000.

Tax Partner Rob Gunn welcomed the classification of nuclear energy as sustainable and the support for modular nuclear reactors because of the potential impact on Midlands manufacturing.

“One of the major players, Rolls Royce, has many suppliers in the local supply chain.”

Mark Evans highlighted Black Country expertise in carbon capture – another sector receiving encouragement from the Chancellor.

“However, in order for improvements in the workplace and the economy, we need to see results from the Chancellor’s bid to get the over 50s back into work.

“I have concerns that those over 50, or ‘experienced’ as we are now known, who have chosen to retire may not have the inclination or the need financially to return to work. As ever, the devil will be in the detail.”

Delegates at the seminar also heard from key Chamber partners including Crowe, recruitment group Pertemps and law firm Higgs, who together with the University of Wolverhampton and EBC Group are behind the “This is the Black Country” campaign that runs until Spring 2023. 

Ends 

Contacts:

• Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk

• Follow Crowe UK on LinkedIn
• Follow Crowe UK on Twitter @CroweUK

Crowe industry recognition

• UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2022)
• Top charity auditor for 14 consecutive years (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2022)

• Awarded Silver in the 2022 Citywealth Brand Management and Reputation awards – Best Overall Marketing Campaign category for Your Life Builder
• Awarded Silver in the 2022 Citywealth Magic Circle awards

• Ranked 5^th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
• 9^th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
• Risk Consultancy of the Year 2022 for the third consecutive year (InsuranceERM)

Real Estate Investors plc (REI) has been granted planning permission for a drive-through Costa Coffee restaurant at Topaz Business Park on Junction 1 of the M42 just north of Bromsgrove.

Birmingham-based REI will now build the restaurant, designed by architects Corstorphine & Wright, for Costa Coffee which has taken a 15 year lease on an initial rental of £85,000 per annum.

Ian Clark, Director of Asset Management at REI, said: “With permission in place, we can now set about the next stage of the project, the build and delivery of a new Costa Coffee restaurant with completion scheduled for late 2023.

“This prime site is located on land within Topaz Business Park, which REI acquired for £4 million in 2018 from Worcester property developer Maximus.”

Topaz Business Park comprises ten high specification, modern units totalling 44,700 sq ft with tenants including M V Kelly, Handelsbanken, Toshiba and Instinctive Technologies.

The park is a low density development with 174 parking spaces and REI acquired the site with the intention of securing permission for further development on part of the site.

Stephen Summerfield at Stephen James Property advised REI and Donna Barnes at law firm Shakespeare Martineau acted for REI.

Ends (199 words)

For further information, please contact:

Paul Bassi, Chief Executive,

Real Estate Investors plc, 2nd Floor, 75/77 Colmore Row, Birmingham B3 2AP

0121 265 6406 or 0121 212 3446

www.reiplc.com

Prepared and issued by Andy Skinner at ASAP, 01608 651203, 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 1.37 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.

The West Midlands’ top commercial property agent is once again Ed Siddall-Jones, managing director of Siddall Jones.

His 99 deals in 2022 puts him in first place in the nine English regions and second overall in the UK in the EG Radius Leaderboards.

And the firm he founded in 2012, Siddall Jones, is easily top for total deals with a record 180 sales and acquisitions throughout the year, nearly double that of the nearest rival.

And he ranks seventh out of ten in the UK for retail sales, transacting a total of 122,088 sq ft in 2022, which also places him fourth in the West Midlands.

Siddall Jones has two offices covering the West Midlands region, in The Mint, Icknield Street, Birmingham, and with a Black Country focus, at King Charles House, Castle Hill, Dudley.

Managing director Ed Siddall-Jones said: “We are a young and energetic team who don’t shy away from doing a deal, small or large.

“We have a dedicated client base and been fortunate enough to have grown the business organically over the past ten years, and had a lot of fun along the way.

“The results are a fantastic achievement and testament to our hardworking team, who are driven to deliver the best possible outcome for our clients. We are thrilled to once again be crowned the most Active Agent in the West Midlands.”

In 2021, Siddall Jones notched up 156 deals including sales and lettings, which was another record.

Ed Siddall-Jones added that, as a result of continuing enquiries for space across all sectors, office, retail, leisure and hospitality, but particularly industrial, the firm is actively recruiting and looking for surveyors and valuers who share the enthusiasm of the current Siddall Jones team.

Ends (288 words)

For further information, please contact,

Ed Siddall-Jones, Managing Director,

Siddall Jones, The Mint, 95 Icknield Street, Birmingham B18 6 RU.

0121 638 0500

www.siddalljones.com

Prepared and issued by Andy Skinner, ASAP PR – 07990 978257.

Editors’ Notes

Siddall Jones, which has offices in Birmingham and Dudley, was launched by Ed Siddall-Jones in 2012 and has grown steadily from one office to two and from one member of staff to six. In 2020, the firm was named Most Active Agent in the West Midlands in the Radius Data Exchange survey produced in conjunction with EG, the commercial property market magazine. In 2019, Siddall Jones was named Most Active Single Branch Agent by number of deals done by CoStar and was a Top Five finalist in the overall CoStar awards. In 2022, Siddall Jones was named the top commercial agent in the West Midlands in the EG Radius On-Demand Rankings. The firm brokered 156 deals including sales and lettings in 2021, almost double the number of the nearest rival.

After WH Smith closed down the convenience store at the Alexandra Hospital in Redditch in the wake of Covid, an A&E staff nurse stepped to restore the vital service for staff, patients and visitors.

Still working as a nurse, Liam Conroy is now doubling up as a shopkeeper after investing his life savings to reopen the store, create new jobs and re-establish a food and drink lifeline for his colleagues.

Ben Truslove, joint managing director at commercial property agents John Truslove, handled his application to the Worcester Acute Hospitals NHS Trust and has sealed a five-year lease for Liam on the 500 sq ft retail unit at the hospital, on Woodrow Drive.

Liam said: “I have worked in the Alexandra Hospital for the last four years and when WH Smith closed there was a sense of deflation around the hospital.

“The coffee shop was shut, the canteen shut around 2pm and there was no food or drink options after 2pm or weekends. It was demoralising for staff and patients.

“Being a medical professional and local man myself, I knew what was needed and decided to bid, risking my life’s savings on a venture very dear to my heart: bringing back a service for the great people of Redditch.”

After a seven month gap the store re-opened before Christmas as Heroes’ Corner, creating new six jobs for shop workers.

Liam said: “I have to thank the staff for being so kind, friendly and hardworking. The shop would not open without them. I only own it but they are in there seven days a week ensuring it’s run incredibly smoothly with hard work and kindness.”

As well as owning and overseeing the store Liam remains a member of the Alexandra’s A&E nursing team.

“I love and thrive working in the busy organised chaos known as the Emergency Department. I work with the most dedicated and caring individuals; they are such a wonderful team.”

On top of that, the 32-year-old, with 11 years nursing under his belt, is also in the second year of his Masters course as an advanced clinical practitioner and expecting his first child with his partner – they are getting married next January.

The Heroes’ Corner store opens seven days a week, from 7am-8pm Monday-Saturday and 8am-8pm Sunday offering a wide range of sandwiches, chicken wraps,  crisps, chocolates , cakes, pies, Costa coffee, newspapers and puzzle books.

“We offer NHS and West Midlands Ambulance Service staff a 10% discount as a thank-you for all their hard work.

“The feedback has been overwhelming. I often get thanked for bringing a much-needed service back to the Alex. I also get asked by staff at the other Trust hospitals if I can open a store within Worcester and Kidderminster.”

Ben Truslove, at property agents John Truslove, said: “We are delighted to have played a role in helping Liam re-establish a much-needed service for staff, patients and the general public at the Alexandra Hospital.

“It was closed during Covid because of low footfall but is clearly a major asset to the hospital and its re-opening has been widely welcomed.”

Ends (516 words)

For more information, contact:

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

01527 584242

Editor’s Notes

Redditch-based chartered surveyors and valuers John Truslove was established by John Truslove in 1981 and has become the market leading independent agent for commercial property in North Worcestershire and North Warwickshire as well as the wider West Midlands.

For the year 2021, joint managing director Ben Truslove was ranked second most successful dealmaker in the UK in the 2021 EG Radius On-Demand Rankings. He negotiated 89 sales and lettings during the year in a top ten dominated by partners from all the UK’s leading property agencies. He was the top industrial and commercial property agent in the West Midlands.

The agency, John Truslove, came first in Worcestershire and third in Warwickshire.

It follows on the success from 2020 and 2021 when the firm was named Most Active Agent in Worcestershire for two years in a row in the Radius Data Exchange survey produced in conjunction with EG, the commercial property market magazine.

Joint managing director Ian Parker was also named Worcestershire Dealmaker of the Year AND Warwickshire Dealmaker of the Year for 2020. The survey year, which runs from August to August, saw John Truslove record a 36% increase in deals negotiated over the 12 months.

Issued by Andy Skinner of ASAP PR, mobile 07990 978257.