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Fifield Glyn has been awarded the ISO 9001 certifying that the quality management systems have been assessed and approved by the CQS (Certified Quality Systems) Limited to the following Quality Management Systems, standards and guidelines BS EN ISO 9001:2008 for the provision of Chartered Surveyors and Commercial Property Consultants.

Allsop’s May auction results continued the broadly similar pattern we have seen throughout 2010, with Allsop reporting “retail, London based properties and secure long dated income all continued to attract keen bidding”.

Despite the political uncertainty surrounding the recent General Election, if anything, yields appeared slightly keener than in March, although at 101, the number of lots was noticeably down from 140.

4 banks were sold with an average yield of 5.06% compared with 5.27% in March and 9 public houses let to Enterprise Inns Plc produced an average 5.84%, compared with 6.55%.

A 3,000 sq ft site at 71 Witton Street adjoining The Works and close to Iceland and In-Store was sold for £165,000 plus Section 106 contribution. Mason Owen and Fifield Glyn acted for sellers and Matthews & Goodman acted for the buyer.

Willan Investments Limited have just let the largest suite in their new building, The HUB @ Gadbrook Park, to London based IT finance solutions provider Syscap Limited. The deal negotiated by the letting Agent, Richard Smith of Cheshire based Chartered Surveyors, Fifield Glyn , will allow Syscap Limited to benefit from the flexible lease terms on offer at the HUB. The building provides 15 high quality suites ideal for those occupiers with a smaller requirement of 1 up to 10 or more people, on short-term flexible leases. Syscap Limited Director Phil Ross says ‘we chose the HUB as it offered us exactly what we were looking for, high quality office space in the right location and for a flexible term’.

Allsop’s March Auction had a success rate of 84% of the lots offered on the room, although 21 of the original 140 lots in the catalogue were withdraw before the auction.

As expected, with no changes to the market or the economy, the results appeared to be broadly similar to February’s auction with long dated income, retail properties and London locations proving most popular.

The auction included 10 bank investments, which produced an average yield of 5.27%. This  compared with 4.8% in February, although the lot sizes were rather higher and there were relatively few lots let to Barclays, which usually attract premium prices.

 

Jeff Rosen BSc FRICS ACIArb of Maidstone Capital LLP Salisbury Capital LLP and Lancaster Properties & Developments Ltd has now become a Consultant to Fifield Glyn. Jeff was  a Director of Grosvenor Square Properties plc for 12 years and Director of Property Services for JC Property Holdings is an experienced, business and client/tenant focussed project management and development advisor and adds considerably to the services being provided for client organisations on behalf of Fifield Glyn. 

Please contact Jeff Rosen on 020 7491 3336 Mob: 07721 429774 or jeff.rosen@fifieldglyn.com

Allsop’s February auction had a success rate 82% compared with 78% in December and 92% in October, so I wonder if vendors are still being tempted to push reserves a little too far ahead of the market.

The Auction included 6 Banks let to Barclays on new 15 year (minimum) leases and the average yield achieved was apparently 4.8% compared with 5.4% in December, although the average lot size was less than £350,000 compared with almost £600,000. A couple of other banks with shorter leases failed to sell.

Once again, the highest demand was for secure, long dated income with retail and properties within London also being very popular, whilst most of the unsold lots were secondary in nature.

With interest rates likely to stay at historically low levels, I believe this is how the market will remain for the foreseeable future, as investors continue to seek secure opportunities offering much better returns than bank deposits.

Allsop’s latest auction only had a success rate of 78%, compared with 92% in October. With prime yields having sharpened over the last few months, I wonder whether vendors were temped to push reserve prices just a little ahead of where the market actually is at present.

The auction included 33 bank investments and Allsop say the average yield was 5.41%, down from 5.16% in October, but a number of lots let to HSBC did have relatively early lease breaks.

 It appears the more secondary lots were the ones failing to sell, which supports the general view that the market has a two tier structure.

County Cuisines have taken a 9 year FRI Lease at No.2 Gadbrook Mews at a rental amount of £13,250 pa from 1^st October 2009. The 1080 sq ft premises provides a farm shop retail area together with an extensive kitchen to provide for both on-site and off-site sales. County Cuisines is open from 10.30am- 6.30pm Monday to Friday and 10am – 3pm on Saturdays. For further information telephone 01606 359 299.

 

Fifield Glyn acted for developers Osborne House. Contact victoria.fifield@fifieldglyn.com 01606 351 351 for more information.