Fifield Glyn have been awarded two Management Contracts at Runcorn in Cheshire and Rhuddlan in North Wales from Western Power Distribution the South West England and South West Wales Energy and Utilities Company.

The first, a modern Office Development at Howard Court, Manor Park in Runcorn, Cheshire, comprises 3 self-contained buildings in a landscaped setting off the A553 Runcorn Expressway totalling 2,400m² (25,000 sq.ft.), with a current rent role of £232,500 pa and is let to Hyder Industrial, Severn Trent Laboratories and Manor Park Systems. Fifield Glyn also manage the adjoining Hampton Court Office Development.

There is still some 587m² (6,300 sq.ft.) of available office accommodation and interested parties should contact Richard Smith at Fifield Glyn for further details.

The second is a Warehouse and an Industrial Depot on Abergele Road, Rhuddlan comprising 1,200m² (12,800 sq.ft.) and is let to 3 Tenants being Hyder Infrastructure Management Ltd., Drainage Systems (Cardiff) Ltd. and O. C. Summers, with a current rent roll of £45,100 pa.

Private Investment Clients of Fifield Glyn have acquired a new leisure investment in Liverpool from booksellers, Waterstones.

A former Waterstones bookshop, the property occupies a prime position at the junction of Bold Street and Concert Street. It has been let to Bass Taverns Ltd. for 30 years from 17 May 2000, subject to break clauses at the end of the 15th and 25th years. The building has been extensively refurbished by the occupier, who trades as Edwards.

The purchase price of £1.7m represents a net initial yield of 7.93%., based on a rent of £142,500 pa

J.D. Wetherspoon have acquired the freehold interest with vacant possession of the 10,000 sq.ft. ground floor at 13 St. Petersgate, Stockport at a price £1m.

Metcalfe Harding & Co and Fifield Glyn advised the Vendors and Van Der Berg advised Weatherspoons.

For further information contact John Fifield at Fifield Glyn.

Private Investment Clients of Fifield Glyn have acquired a recently completed Freehold “Drive Thru” Restaurant Investment at Hyndburn Road, Accrington from Developers Arrowcroft North West Ltd.

The property comprises a new “Drive Thru” Restaurant of 2,550 sq.ft. let to Kentucky Fried Chicken for a term of 25 years at £45,900 p.a.

The acquisition price of £590,000 represents a net initial yield of 7.36%.

Private Investment Clients of Fifield Glyn have acquired an Office Investment at 37 Monkgate, York.

The refurbished Grade II Listed office building is let to the Secretary of State for Health on a new 15 year Lease, subject to a Tenant’s only Break at the end of the 10th year at £70,000 p.a.

The purchase price of £880,000 represents a net initial yield of 7.52%.

Fifield Glyn, acting on behalf of Danesborough Properties Ltd., have completed the acquisition of Oldham West Business Centre from Park Lane Estates.

The property comprises a modern development of 3 industrial units, extending to 18,450 sq.ft. let to Bohle Ltd., Newey and Eyre Group Ltd. and IES Ltd. at a current rent of £75,500 pa.

The acquisition price of £740,000 represents a net initial yield of 9.65 %.

No. 6 Ralli Courts, West Riverside, Manchester

North Consulting have taken a new 5 year full repairing and insuring Lease of No. 6 Ralli Courts, West Riverside, Manchester at an initial rental of £35,500 p.a.

The offices which comprise 2,240 sq.ft. together with 5 designated car parking spaces form part of a modern, 3 storey Georgian style development of 14 self-contained offices overlooking a communal courtyard with mature landscaping.

The offices were fully refurbished prior to North Consulting taking occupation and the rent, after allowing for car parking, equates to £151.37 per m² (£14.06 per sq.ft.)

Fifield Glyn advised the Landlords, The Whitehouse Group (Watford) Ltd in relation to the refurbishment and re-letting.

Elkesley Park, Gamston

Canute Haulage Group Plc who service the 171 Wilkinson Hardware Stores nationally from Manton Wood, Worksop, have acquired a further, separate, strategic Transport & Distribution site adjacent to the A1 at Elkesley Park, Gamston, Nr Worksop, Notts for a consideration of £1.4 million.

The site, which comprises 14 acres and includes 3 separate industrial buildings totalling approximately 5,574 m² (60,000 sq.ft.), was bought subject to obtaining Outline Planning Permission for a new 6,920 m² (74,500 sq.ft.) distribution warehouse and a separate 2,600 m² (28,000 sq.ft.) office and workshop facility, together with tractor and trailer parking for 230 vehicles. This was recently granted by Bassetlaw District Council.

Fifield Glyn advised in connection with the Purchase and Outline Planning Application for Canute Haulage Group Plc.

Osborne Assets have acquired the freehold interest of No. 10 North Lynn Business Village, King’s Lynn from Clifton Jones, for a consideration of £100,000.

The property comprises a modern self-contained 2 storey office building, totalling 1,275 sq.ft. (118 m²) plus 5 car spaces.

The purchase was conditional upon a simultaneous letting to Fosters Refrigeration (UK) Ltd on a 12 year FRI Lease subject to 4 yearly upward only Rent Reviews at an initial rental of £13,000 p.a. There was a Tenants option to break at the end of the 4th year.

Osborne Assets now own the freehold interests of Nos. 5-12 North Lynn Business Village inclusive.

Fifield Glyn advised the purchasers, Osborne Assets, in connection with the purchase and the letting.

Stonemartin Corporate Centres Limited Partnership with Hermes and and Morley, have purchased the freehold of the 80,000 sq.ft. office building from Hammersons for £9.35 million representing an initial yield of 7%.

Stonemartin intend to take the building back to a “shell” for a full refurbishment to provide top quality space as an IoD Corporate Centre in units from 100 sq. ft. – 5,000 sq. ft. (9m² – 465m²) on flexible leases.

There are 48 basement car spaces. In addition, it is proposed that the ground floor extending to 12,589 sq.ft. will be earmarked for a top quality restaurant(s) and it is anticipated that a “top flight” London or international restaurateur(s) will take the space.

Completion is envisaged Summer 2003.

FPD Savills acted for Hammersons and DTZ, Fifield Glyn and Simon Bitmead Associates acted for Stonemartin.