Alpha deal in Redditch

Lakeside aerial

WEG, the global market leading supplier of electric motors and associated products, has acquired a 128,241 sq ft/11,914 sq m warehouse and distribution facility at Lakeside Point, Redditch.

The company, which is headquartered in Brazil, is expanding its operation, moving from its current 46,940 sq ft/4.360 sq m base, spread across four units, at the nearby Manorside Industrial Estate.

WEG has taken a ten-year lease at the 1,97 hectare/4.87 site from Alpha UK Property Fund Asset, at a rent of £4 per sq ft.

Alpha will give the building a £400,000 facelift before the tenant moves in early next year.

The Birmingham offices of Colliers International and Jones Lang LaSalle advised the landlord on the deal. Continue reading

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Aqueous 3 is a safe choice for BSS

Aqueous3_BSS

Diane Sheldon from LAH Property Marketing with Steve Burke from BSS outside their new office at Aqueous 3

British Safety Services (BSS), a leading provider of health and safety training and consultancy services, has relocated to new premises in Aston, Birmingham.

The company has moved to a new 1,306 sq ft office at Aqueous 3 on a five-year lease at a rent of £9 per sq ft.

CBRE’s office agency team in Birmingham advised the landlord, CBRE Global Investors, on the letting, along with joint agent DTZ.

Previously based on Catherine Street, BSS was established in Birmingham in 1991. The company has grown to become a worldwide leader in the field of health and safety training and consultancy, operating from nine offices across the world, including Algeria, China, Dubai, Libya, Qatar and Yemen, as well as representative offices in Kuwait and Pakistan. Continue reading

Graduate clocks in at CBRE after career change

CBRE1A graduate surveyor has joined the Birmingham office of property consultancy CBRE after successfully turning a sideline into a full-time career.

Liz Bailey had previously worked in financial service sales and recruitment, but decided it was time for a new challenge by choosing to retrain as a surveyor in 2009.

Over the past 13 years, she has also managed a personal portfolio of four residential properties, three of which are in the Midlands. After the birth of her two children, she decided to turn her hobby into a career.

Liz has a first class degree in BSc (hons) Real Estate from Birmingham City University.

Following work experience placements at firms including Jones Lang LaSalle, Savills and Colliers International, she has also won numerous property awards, including the RICS West Midlands Prize for Outstanding Academic Achievement. Continue reading

Property experts greet Birmingham ‘roof tax’ proposals with dismay

 

Adrian Willet, director in the development team at the Birmingham office of CBRE, and Ashley Hancox, director in CBRE’s office agency team

Birmingham City Council’s proposals to introduce a swingeing new “roof tax” could sound the death knell for much of the city’s development pipeline.

Experts at property consultancy CBRE claim that Community Infrastructure Levy (CIL) charges being mooted by the council are far higher than those of other comparable (by value) authorities, and this could force investment and regeneration beyond the city’s boundary.

Birmingham’s proposed charges have just been released and will add, for example, more than £2 million in CIL payments to the cost of building a typical supermarket and £50,000 – £100,000 per acre for new homes, with on-site affordable housing to be provided on top. Continue reading

Continued take-up compounds lack of supply in the industrial property market

The Midlands shed market put in a good performance during the third quarter of the year with take-up 15 per cent up on the same period in 2011.

According to the latest statistics from CBRE, from July to September take-up of large industrial units (over 100,000 sq ft) totalled 530,000 sq ft across the East and West Midlands – a 15 per cent increase on the Q3 2011 total.

In the year to date, however, take-up was almost half (41 per cent) behind last year’s year to date total, at 2.69m sq ft and 4.6m sq ft respectively.

Nationally, take-up at the end of the third quarter totalled 2.64m sq ft, virtually the same as in Q3 2011. Half of this space was taken-up by the retail sector, which continues to dominate the market due to demand for larger units. The third party logistics sector was the second most active sector, accounting for 20 per cent of take-up. Continue reading

Montague reforms could speed up housing provision in Brum

A government report designed to tackle Britain’s chronic housing shortage has been welcomed by a Birmingham residential property expert.

Adrian Willet, a director in the development team at CBRE, claims the Montague Report’s proposals to relax the level of affordable housing private developers deliver could encourage much needed investment in the private rented sector (PRS).

The proposals were endorsed by the government today [6 September], when prime minister David Cameron announced the affordable housing rules would be relaxed as part of a package of new measures designed to boost construction and housing.

Mr Willet said: “We are seeing a fundamental shift in residential occupational trends.

“With mortgage finance hard to come by, many of this and the next generation will be long-term renters. The need to provide more homes for rent is therefore vital.” Continue reading

CBRE boosts development team with new hire

Martin Guest, MD of the Birmingham office of CBRE, and Adrian Willet, newly appointed development director at the firm.

Adrian Willet has joined CBRE as a director in the firm’s development team in Birmingham.

A development specialist, advising on land sales and acquisitions as well as residential investment and student housing markets, Mr Willet joins from Savills, where he was also a director.

Previously, he was managing director of G&C Finance plc, the development finance business; development director – Midlands, for Crest Nicholson plc and director – residential development for the Midlands at DTZ. Continue reading