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A piece of sculpture or art makes a building stand out and gets people talking and thinking, if it makes them smile, that’s even better. We like to think we have brightened up someone’s day.

The new sculpture is set by the busy A56 commuter route into Manchester and Adam says he was inspired by the college quadrangle style of the buildings and the name of the development Crossford – the balancing man has his arms and legs outstretched in the shape of a cross.

It is an amazing location by a major dual carriageway and hundreds of people will be passing it every day. They will only be stopping briefly in their cars at the lights so I wanted them to only get to know the sculpture after a few visits – for it always to be changing in different light, in different circumstances,” said Adam, 26.

The Crossford Court development is a joint venture between GE Capital Corporation (Estates) Ltd and property investment company, Magnus Ltd.The office development has been given a much-needed facelift and its first tenant, Express Finance Brokers Ltd, has taken 232 sq. m. (2,500 sq.ft.).There are still offices available from 99 sq. m.

Chester Barnes, Asset Manager at GE Capital Real Estate said: “We have embraced Magnus’ policy of incorporating art within developments as we feel it adds to the aesthetic value and originality of each project.”Edward Lockyer, also of Magnus, says Crossford Court is in an excellent location and has already attracted a great deal of interest.

This is a prime site and Sale is a very desirable area for businesses. Thanks to the refurbishment, which we have undertaken in partnership with GE Capital, the development is a very attractive proposition and we have already received a high level of enquiries  Melbourne conveyancers.

The addition of the sculpture will ensure Crossford Court gets the attention it deserves.The aim of these awards is to recognise and reward town centres in the UK or Ireland, which have significantly improved their environment for both visitors and shoppers.Main Town Centre Environment Award: for a project that continues the improvement of the town for a range of town centre user.

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Transport and Accessibility Award: – introduced last year, this particular award is for significant achievements in addressing the challenges of traffic growth, parking and congestion in town centres, such as better bus/train links, sensitive car parking and pricing and shopmobility access.

The Cheap conveyancing specialists Awards will be chaired by Ian Mashiter, Property Director at Norwich Union, with the judging conducted by John Gregory, Property Services Director at Eastleigh Borough Council, Tony Hatch who is Head of Property at Bhs PLC/Storehouse plc, Brian Raggett, Senior Director at CB Hillier Parker, Chris Williams, Executive for UK Estates, Marks & Spencer plc and John A C Wheeler, Chairman of Centros Miller Limited.

Frances Ives, president of BCSC commented: “The success of our town centres depends on schemes generated by the co-operation of the public and the local authority. BCSC aims to reward these achievements in order to encourage further innovation and excellence in this field.

Entry for the Awards is open to all teams involved in town centre improvement projects that have been finished in the last 18 months proceeding 1st July 2000.The closing date for applications is 7th July 2000 and the winners will receive their award at the BCSC annual conference in Glasgow on 1-3 November.

Staffordshire has committed or completed well in excess of 1,000,000 sq. ft of new development in a 12-month period, InStaffs, the county’s inward investment agency, revealed at the Midland Property Show.

Developments are being undertaken in all areas of the county – which is equally as pleasing as the scale of the overall success – with the top 10 new developments alone accounting for well over a million sq ft, said Chief Executive John de Kanter.

Additionally encouraging is that current development and actual and potential inward investment covers all the main markets which we are targeting: industrial, offices, distribution, leisure and retail.” added Mr de Kanter.

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Instaffs formally unveiled the county’s latest success figures at its stand at the annual show at the National Motor-Cycle Museum, which was attended by property, construction and inward investment specialists. The million sq ft mark is a tremendous milestone for Staffordshire. It reflects a growing confidence – external and internal – in the county.

 

The conveyancing solicitors states new builds also reflect a growing level of ‘new economy’ – telecommunications, internet, robotics and supply chain management – in addition to the more traditional areas of manufacturing and food processing.

Catella/IPMI Regional Property Market Rental Indices published this week shows that industrial property rents are increasing throughout the UK reflecting the general scent of the economy, and a growing demand for warehousing to support the distribution for e-commerce.

Office rents have been stable in most centres but the rental uplift in Edinburgh at £290.63 per sq m (£27 per sq ft) make the centre second only to London which has seen a 20% rise in office rents, says the report.

Industrial property is a particular feature of the Rental Indices that show uplifts in two thirds of the reporting centres over the past year, with no falls. Although the majority of centres have shown a steady increase in prime rents in industrial and warehouse property.

Reading has shown an uplift over the past year of 17.5% and is now at £91.49 per sq m (£8.50 per sq ft), and Glasgow has shown a significant uplift of 22.5% to £69.43 per sq m (£6.45 per sq ft).The main increases have come from the established regional centres such as Birmingham, up 44%, and Manchester, that is up by 35%.

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Both of these centres now have prime retail rents of £3,229 per sq m Zone A (£300 per sq ft) which, with Newcastle are second only to London.As the planning position for new out of town retail developments becomes difficult to achieve due to Government policies that protect existing town centres, those out of town areas with existing retail consents are likely to see further growth.

The largest uplifts can be found in towns such as Cambridge with an uplift of over 50% to £215.28 per sq m (£20 per sq ft), followed by Leeds and Manchester.Offices have shown rental increases in two thirds of the cities in the survey over the past 12 months, led by Oxford and the West End of London, with 20% increase to respectively, £193.75 per sq m (£18 per sq ft) and 699.66 per sq m (£65 per sq ft).

Edinburgh has shown a 12.5% increase, where rents are now at £290.63 per sq m (£27 per sq ft), the highest rental outside the London area, as befits the strong financial nature of Scotland’s capital. Crest Nicholson Properties (CNP) has secured Palm International Ltd, Gordano Packaging Ltd, and WH Ware ; Sons Ltd for, respectively, a 2,601 sq m (28,000 sq ft) purpose built headquarters building, a 3,716 sq m (40,000 sq ft) packaging factory and a further 3716 sq m (40,000 sq ft) for a bookbinding facility, at Clevedon Five Twenty – its 10.12 hectare (25 acre) Business Park close to junction 20 of the M5.

As land values continue to rise in the region the first of these three deals was agreed with Palm International at 413,725 per ha (167,500 per acre) for the 0.75 ha (1.83 acre) site. Gordano Packaging secured its deal for a 1.01 ha (2.5 acre) site at 432,250 per ha (175,000 per acre), while most recently WH Ware ; Sons Ltd paid ;185,000 per acre for its 0.95 ha (2.34 acre) site.

Act Conveyancing Firm Sydney CNP’s retained project agents Alder King and King Sturge are currently progressing negotiations at £481,650 per ha (£225,000 per acre). W P Howard acted on behalf of Palm Equipment and Simon Maughan & Associates represented Gordano Packaging in the negotiations, while agents and retained project managers for WH Ware & Sons Ltd are Chesterton.

Commenting on the success of Clevedon Five Twenty, CNP’s Keith Archer says:These latest sales follow closely on the heels of BOC’s relocation to a new 3,251.5 sq m (35,000 sq ft) facility.The Business Park is proving to be very popular with expanding regional companies and we are currently in negotiations with several companies for the remaining 4.98 ha (12.3 acres) of the site.

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The Time Group has chosen Queens Arcade, Great Portland Estates’ (GPE) 13,000 sq m (140,000 sq ft) shopping centre in Cardiff, to launch it’s new concept Time Talk store.The Time Group – the nation’s largest computer manufacturer and retailer – is launching an ambitious retail drive that will extend their operation into new areas of communications in a new nation-wide chain of Time Talk stores.

 

Time Talk and Time Computers will jointly occupy Unit 27, comprising 235 sq m (2,530 sq ft) over two levels, on a 10 year lease at a rent of £120,000 per annum.Situated opposite the Disney Store and close to Argos and Next, the new concept store opens at Queens Arcade at the beginning of August.

John Colbert, head of Time Group’s Retail division, comments: “Computers are what has made the Time brand famous and Time Talk will build on this heritage.It will offer the widest possible range of communications products. This means that for the very first time, Time will sell mobile telephones, pagers, fax machines, palm tops, personal organisers and many other exciting areas of technology in the new concept stores – along with its normal range of computers and ancillary products.

Formed in 1987, Time Computers currently operates 195 UK outlets with 6 stores in Ireland and the Netherlands, employing more than 2,000 staff. Chris Blair of letting agents Blair Kirkman comments: “Kew Retail Park has been an extremely successful project for Axa Real Estate Investment Managers.

The number of out of town locations that benefit from a Marks and Spencer store are very limited and, despite their well-publicised difficulties, Marks and Spencer remain a very powerful draw like Enact Conveyancing Company Adelaide .

Within inner-London, this makes Kew Retail Park unique.Marks and Spencer have demonstrated their commitment to the location by acquiring an additional 1500m 2 adjacent to their store and have recently submitted a planning application for food use in part of their store.

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COIF Nominees Ltd have acquired Apsley House, a multi-let prime Glasgow office investment, from County Properties Group Ltd. The property comprises a 1970’s office building which was refurbished in 1989 by County Properties Group Ltd and multi-let to tenants such as Capital Copiers, Insignia Richard Ellis, McGrigor Donald Solicitors, Allied Dunbar Assurance plc and Borland Montgomerie Keyden Solicitors.

The rentals are generally around £13.00 per sq ft with a secure income stream running on the majority of the leases. The price of £4.317 million reflects a net initial yield of 7.8% which may improve on completion of the outstanding rent reviews. Allan Dawson of Fisher Wilson commented ‘…this deal progressed extremely smoothly with co-operation from all sides and was wrapped up within 3 weeks.

COIF Nominees Ltd see the purchase as giving them exposure to the Glasgow office market, through an investment that is well secured with a number of first class covenants but, at the same time, offering potential for active management for the short to medium term…8p per ordinary share on the terms and subject to the condition set out in that document and the accompanying documentation.

The building was taken at a rent of £59 per sq m (£5.50 per sq ft) on a 20 year lease. In addition, Rochling Materials U.K. Ltd, a subsidiary of Rochling Haren KG, is procuring a new 1,858 sq m (20,000 sq ft) production facility at Waterwells Business Park on a package deal bases.

Finally, in a benchmark deal for the park, CNP has secured £679,250 per ha (£275,000 per acre) for a 0.28 ha (0.7 acre) site at Waterwells Business Park. Alpha Colour Printers has purchased the site in order to build a 1,115 sq m (12,000 sq ft) state of the art printing facility like E Conveyancing Brisbane.

Completion of the facility is anticipated for December 2000.Unit 4 of The Perry Centre comprising 929 sq m (10,000 sq ft) is currently in solicitors’ hands and CNP hopes to announce details of this deal shortly.

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Jon Perks, CNP Project Manager Comments: “These latest deals coupled with the quality occupiers already established at the park underline Waterwells as a strategic business location. As the scheme gathers momentum the infrastructure improvements will further propel the take up of space at this quality site.

 

In addition, recently opened amenities at the park include a 106-bed Express Holiday Inn Hotel and The Bumble Bee bar and restaurant operated by Bass Vintage Inns, which is set within a relaxing waterside location Melbourne Enact Conveyancing Company .

CNP is advised by DTZ Debenham Tie Leung and Alder King, while Mawdsleys Ltd, Rochling Materials U.K. Ltd and Alpha Colour Printers represented themselves in the negotiations.Infrastructure In May 2000, The Highways Agency announced a £5.4 million infrastructure-programme at Junction 12 of the M5 Motorway, to create a new two-way interchange which will provide improved access to Waterwells Business Park.

CNP has also implemented a ‘park and ride’ scheme for the occupiers of the park, who now enjoy door-to-door transport linking the park to the centre and south of Gloucester. Six units have now been let within Napier Square. Five of the units extend to approximately 235 m sq (2,530 ft sq) with the other extending to 390.5 m sq (4,203 ft sq).

All were let at an annual rental of3.50 per ft exclusive, thus increasing the total rent roll at Napier Square by 20%.Two units have also been let within Nasmyth Court.Both units extend to around 143 m sq (1,540 ft sq) and were let at an annual rental of 4.50 per ft sq exclusive, thus increasing the total rental roll at Nasmyth Court by 7%.

This level of demand is not only driven by the lack of supply and increasing rentals throughout the Edinburgh market, but also the increasing attraction of Livingston as a business location Bristol’s Gloucester Road is now enjoying café life – New Zealand style – following the acquisition of Number 232 by two young entrepreneurs.

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Naffateria is a specialist coffee and café bar, brought to this country by Mick Stafford and Simon McMaster.The formula worked very well for us in Queenstown,” says Simon, “and the first indications are that it will be equally popular here.

The pair have come equipped with a 44 year old coffee making machine which, they say, produces a far better cup of coffee than the well known coffee shops which have set up throughout the city centre area.Says Justin Berry: “The new tenants identified these premises as being ideal quite some time ago, but had to overcome issues of planning. The officers were supportive of the use as no application for a full on drinks licence was made property manager pays, permitting you a superior profit for your capital speculation.

Gloucester Road serves a very large hinterland, stretching back into Bishopston, St Andrews and Horfield, and I think most local people are delighted to see places like “Naffateria” bringing life and colour to the area.Longford Business Centres has acquired the freehold interest in Orchard Lea, Windsor, for 6.191 million, as part of its ongoing acquisition programme.

The 22,820 sq ft (2,120 sq m) building is being refurbished and extended to provide high quality air-conditioned offices in 4 acres of attractive landscaped grounds.We have been looking to expand our network of business centres into the M4 corridor for some time, says local businesswoman Jane Gwillim David, director of Longford Business Centres.

It has the added advantage of an excellent car-parking ratio with 110 spaces. The building also provides efficient open plan floor space.Jon Milton of dohertybaines who acted on behalf of Longford explained.

As Longford own a substantial freehold property portfolio, we believe their covenant status should prove more attractive than many other serviced office operators”. Chartwell Land has sold 65/66 Biggin Street, a retail development in Dover town centre to EjendomsInvest, a Dutch company that purchased the property under a special purchase limited partnership for £3,405,000.

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Chartwell Land developed and let the three floor scheme to Woolworths and JJB Sports. The sale reflects an initial yield of 7.2 percent. Barry Dunn, Property Director of JJB Sports comments: “JJB has been looking for a large trading format store in the centre of Dover for some considerable time.

As a result of our partnership with Chartwell Land we have been able to fulfil our requirement and are delighted with the trading performance of the store and look forward to its continued success.Richard Leat, Estates Manager at Woolworths said: “Woolworths is delighted with its store at Biggin Street.

We are more than satisfied with the stores’ performance which is going from strength to strength in its first six months of trading.The site has been cleared and construction is due to start in July 2000, with completion scheduled for 18 months time.

Nick Cooper, director responsible for Pooled Funds at BH&S said: “The Queenstown Road development is in a key location overlooking the park ‘m Battersea. It sits very well with our current investment strategy and should provide investors with excellent returns.

The depreciation opportunities is the second development acquisition that the Fund has made in conjunction with our partner London Town, a unique relationship that provides significant benefit for investors. The Fund has already received a commitment of £23m from existing pension fund clients, and is initially investing in the London residential market, aiming to raise up to £150 million by the end of 2001.

In December 1999, the Fund announced its first acquisition in Eagle Wharf, Pimlico, London. The Fund is based in Dublin and is structured to be highly tax efficient.Teesland Group Plc, the broad based development and investment company, has completed the forward sale of 50 Broadway Buildings, Victoria to Henderson Investors’ client, NPI, for £40 million.