Our quarterly newsletter is sent exclusively to our contacts and covers key deals, new instructions, charity initiatives, events and research. If you would like further information on any of the news articles below, please contact a member of our team.

Commercial Bulletin Articles

Commercial Edges Commercial Edge is the flagship annual report series collated by our property specialists at Carter Jonas. With a constantly evolving economic landscape, insight into movement within our industry is more important than ever, which is why we are pleased to introduce a collection of further reports, our Commercial Edge six month update.

These reports deliver evidence based analysis of recent and anticipated trends in the commercial property market, supplying you with an in-depth understanding of what’s happening within our specific markets.

Each report is written by our expert within the region, incorporating decades of knowledge into the forecasts, providing you with simply better advice to make decisions.

Download the reports here.

For further information on the reports, please contact:

Andrew Heard
Research Analyst
Andrew.Heard@carterjonas.co.uk

Completely RetailCarter Jonas’ national Retail, Leisure and Hotels team joined 1,800 delegates at Old Billingsgate Market on Tuesday 26th September at the 11th Completely Retail and Leisure Marketplace. The occasion provides opportunity for retailers, landlords and agents to join together and talk about business and property opportunities in a lively environment.

Made up of 100 fully furnished branded meeting areas and stalls, retailers such as Lidl, H&M Hobby Craft, Marstons and Greggs were dispersed between landlords such as British Land, Intu, Legal & General, Peel and The Crown Estate.

Carter Jonas Partner Will Mooney said: “We have been attending since 2015. Every household name are all here on one day. It’s great. Property is still a people business. Retail is the fastest moving part of the business with retailers not wanting to miss a site that their competitor might snap up.”

Our national Retail, Leisure and Hotels team at Carter Jonas has an established track record and a wealth of market knowledge and experience providing simply better advice for retailers, developers, investors and owners. Our local market knowledge, combined with our national coverage, enables us to provide a high-quality service to clients across the UK in a sector that is currently evolving.

For further information on our Retail, Leisure and Hotel services, please contact:

Will Mooney
Partner
Will.Mooney@carterjonas.co.uk

RICS Young SurveyorThe shortlist results for this year’s RICS matrix Young Surveyor of the Year awards have been announced and Carter Jonas have received seven shortlists in total. Please join us in congratulating the following:

- Daisy Fox-Pope – Building surveying Category 
- Peter Wyld – Building surveying Category 
- Chris Hartnell – Property agency Category 
- James Cordery – Property agency category
- Charlotte Meyer – Valuation category 
- Lil Houghton – Mentor of the year category 
- Richard Combes – Mentor of the year category 

The winners of each category and the overall Young Surveyor of the Year 2017 will be announced on Friday 17th November at the Hilton Bankside. 

We wish everyone shortlisted the best of luck and a huge congratulations.  
To view this year’s full shortlist please click here.

For further information, please contact: 

Kate Valentine 
Marketing Manager
Kate.Valentine@carterjonas.co.uk

LeedsPredicting the future is like peering into fog. But Leeds City Region has published a route map showing how the shape of the City and surrounding region could look in 2036. Head of Northern Agency at Carter Jonas Chris Hartnell, takes a look.

Predicting where Leeds property values will be in 2020 takes an element of guesswork. Guessing which locations will prove profitable in 2036 in the Leeds City Region of 1.9m may sound a wild exercise, but some guesswork has been removed. In 2016 a 20-year plan was published by the Leeds City Region Enterprise Partnership. The 96-page report identifies growth spots in ten council areas, which are, Leeds, Bradford, Barnsley, Wakefield, York, Harrogate, Kirklees, Craven, Calderdale and Selby. Here we have the biggest regional economy outside London, worth £62 billion, 5% of England’s output.

Summer 2017 saw clarity on HS2, stated to fully open by 2033. The Leeds High Speed terminus will be conjoined with the existing station. To the south, over the River Aire, lies 185 hectares of under-developed land. The Enterprise Partnership suggests extraordinary growth. “The regeneration of the South Bank area will be the biggest change the city has seen in more than a hundred years. We aim to double the size of Leeds city centre by transforming South Bank into a distinctive European destination.” There will of course be ups and downs - and periods of stalled growth over the next 18 years. But certainty over the HS2 station brings the certainty of a long term rise in values and economic output for the City Region.

This opinion piece is part of an article outlining Chris Hartnell’s thoughts for the future of Leeds. The full article will be released in the Carter Jonas Commercial Journal in November. 

For further information, please contact: 

Chris Hartnell
Associate Partner
Chris.Hartnell@carterjonas.co.uk

When did sheds become sexy?The latest edition of our ‘Early Edge’ Seminar series took place in October at our head office, Chapel Place. The event, which placed a spotlight on the industrial sector, was attended by over 35 clients. The informative and entertaining discussion covered the transition from retailing to e-tailing, and the positive impact it has had on the warehousing and logistics market. The panel, chaired by ex- EG Editor Peter Bill, included Andrew Jones, who has built London Metric into a £1 billion industrial developer, and an occupier’s perspective from David Mills, Associate British Foods.

For further information about our industrial services, please contact: 

Andrew Smith
Partner
Andrew.Smith@carterjonas.co.uk

 

On Thursday 19th October Carter Jonas were the proud sponsor of ‘Science and Technology in Oxfordshire’ a RICS South East event.

The event, which was held at the Cotswold Lodge Hotel, was an educational and entertaining conversation around the future of science and technology within Oxfordshire. Attendees were given the opportunity to shape the discussion, which resulted in a vast range of focusses over the two hours.

The panel of experts included key note speaker Peter Knight, Executive Director, Oxford University Hospitals NHS foundation trust. Peter was joined by:  

James Bainbridge – Head of Planning & Development Division, Carter Jonas – chair
James Dipple, Chief Executive, MEPC
Scott Harkness, Head of Commercial Division, Carter Jonas
Sue Holmes, Director of Estates & Facilities Management, Oxford Brookes University
Angus Horner, Partner & Director, Harwell Campus

See the full schedule of future RICS conference and seminars here.

For further information on our science and technology services, please contact:

Scott Harkness MRICS
Head of Commercial Division
Scott.Harkness@carterjonas.co.uk

Alain TorriOur Architecture and Building Consultancy team (ABC) is expanding with the appointment of Alain Torri as Head of Architecture. Torri will be based out of our Oxford office where he will head a team of 10 architects and will work closely with Richard Love, head of the ABC team, to deliver a full range of building-related and architectural services across the country.

Torri joins Carter Jonas from Purcell where he was integral in leading the Oxford studio and numerous projects nationally in a range of sectors with an emphasis on cultural, education, and residential design. With over 20 years’ experience, Torri is originally from Italy where he studied Architecture at the Politecnico di Milano, before developing his career by working for several Milanese architectural studios and becoming involved in building design, urban planning, image and communication, industrial design, and the visual arts.

In 2004, Torri moved to the UK where he has helped to deliver a number of high-profile regeneration and conservation projects including the re-presentation of the Hintze Hall at the Natural History Museum of London; the reconfiguration of the Standard Works in the Birmingham jewellery quarter into an education and community facility; continuous conservation advice to Christ Church, Oxford as well as the design of their new visitor’s centre. Alain is an experienced coordinator of large and comprehensive design teams, and using his expertise in space management, he strives to create innovative solution.

Scott Harkness, head of commercial, Carter Jonas said: “Alain’s appointment follows a number of significant hires and his joining brings the total number of professionals working in the ABC team to 45. Alain’s knowledge and understanding of conservation, for listed buildings and working within sensitive, historic urban settings, as well as his extensive experience in the education, cultural and residential sectors will be invaluable to the team.”

Richard Love, Partner, added: “We have a record number of projects underway and are dedicated to continuing to grow the team nationally, as well as in each of our hub regions. Alain has an impressive cv which includes national and international experience and his skill set will undoubtedly support the team in providing the best advice to our clients.”

For further information on our architecture services, please contact: 

Alain Torri
Associate Partner
Alain.Torri@carterjonas.co.uk

StarbucksThe Carter Jonas national Retail, Leisure and Hotels team have unconditionally exchanged on a new 1,800 sq ft drive thru in Bury St Edmunds.

Our Cambridge team acted on behalf of 23.5 degrees and successfully acquired the drive-thru Starbucks off market. The drive-thru is part of a wider scheme which includes a new 80 bed Travelodge Hotel which was also acquired. 

23.5 Degrees are the UK’s first Starbucks franchisee with 42 stores and over 35 in the development pipeline and further requirements for further drive-thru across much of England. 

For further information on our work with 23.5 Degrees, please contact:

Samuel Turner
Surveyor
Samuel.Turner@carterjonas.co.uk

HitachiCarter Jonas were appointed by Hitachi Rail Europe (HRE) to assist them with the consolidation of their offices at 2 More London. Additionally our team aided with their relocation to a recently constructed 13,000 sqft CAT A space at 60 Ludgate Hill, and advised on their office search, providing dilapidations advice to minimise their exit costs.

The property selected for the new office was provided as CAT A space, but a CAT B fit out was required. As part of the initial due diligence exercise, Carter Jonas identified costs which were able to be passed to the landlord who benefitted from additional capital contributions due to the advice provided.

Carter Jonas managed the procurement process which was awarded to Oktra Limited on a design and build basis. Our team oversaw a detailed design and stakeholder engagement process with a workplace strategy review and reviewed costs to ensure the client was obtaining best value from the contractor. 

The project involved a shift in the company’s culture to move from a modular format to an open plan collaborative format with design features to enhance staff connectivity and smart working.  

The project was successfully managed to achieve completion on time and within budget. Carter Jonas have since been instructed to refurbish Hitachi’s existing Head Office, 40 Holborn viaduct, and are in the detailed design phase of the project.

For further information, please contact: 

Richard Love
Partner, Head of Architecture and Building Consultancy
Richard.Love@carterjonas.co.uk

Q3 London office marketOur latest Office Market Update reports have just been published. The two documents incorporate the latest data on London office trends, rent free periods, occupancy costs and market trends.

Both documents have been designed specifically for tenants to assist with budgeting for a lease renewal, rent review, break option linked lease restructuring or office relocation.

The London Office Occupancy map contains the following information a geographical summary of London office rents, business rates and service charge occupancy costs. Typical rent free periods for each London district and forecast rents for each London-sub market for the next two years. Additionally an overview of the City, City fringe, West End, “Midtown”, South Bank, Docklands, Stratford and provide recommendations on developing and implementing an appropriate accommodation and property cost saving strategy.

Download Q3 2017 London occupancy costs map

Download Q3 2017 London office rent & rent free period guide

For further information on the reports, please contact:

Michael Pain
Partner, Head of Tenant Advisory Team
Michael.Pain@carterjonas.co.uk

The next edition of the Commercial Bulletin will be published in January 2018, however you can keep up-to-date with our latest firm wide developments on the news section of our website all year-round.

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Scott Harkness
MRICS
Partner - Head of Commercial Division
02039 938757 email me about Scott
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Scott specialises in providing advice on agency and development matters to a wide variety of clients from private individuals and trusts through to property funds, institutions, companies and statutory authorities.  He advises both owners and occupiers across public and private sectors.

Working at Board level with clients, Scott’s specialist areas include Business development, development of property strategies, property investment advice, advice in the marketing and disposal of property as well as property acquisitions.

Scott has a particular knowledge and understanding of the property market in the wider Oxfordshire region whilst also operating on a national basis on specific projects.

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