Commercial Property News

Occupiers at Strathclyde Business Park this month welcomed the arrival of two new operators to the Park retail parade. The Avondale, which has been run by Park owner and developer HFD since opening in 2004, has been let to leading restauranteur Massimo. Massimo, who has restaurants in Glasgow, Livingston and Edinburgh, will take over the reins at the end of June, bringing with him his contemporary take on fine Italian cuisine.

Stephen Lewis explained the rationale "When we opened the Avondale, we decided to run the operation ourselves to ensure that the quality reflected it's surroundings. Ultimately the long term goal was to establish the restaurant as an independent business.

"There are many synergies with Massimo's business ethos, and we are sure that he will replicate the success he has had across his other restaurants at the Business Park."

Massimo added: "We are predominantly an Italian restaurant - our menu will offer innovative pasta dishes together with the more traditional and will offer weekly menus to keep our chefs hard at work and to present our customers with ever changing dishes that reflect the changing of the seasons and give a broader understanding of Italian cuisine.

"Our aim at Strathclyde Business Park is to provide a one stop catering facility, starting with early morning coffees and continental breakfasts, through to lunch and early evening dinners and drinks."

Joining Massimo on the Parade is Get Fresh, the Park's latest sandwich operator. The store, operated by former Subway manager Evonne Lloyd, provides occupiers with a wide range of breakfast and lunchtime options, smoothies and meeting catering. The store has already proved popular with occupiers, many lured by the prospect of a full cooked breakfast.

Strathclyde Business Park provides a comprehensive range of on-site facilities for the 6,500 strong workforce, including an on site Hilton hotel with gym, spa and hairdressing facilities, free Abbey ATM, weekly workplace banking with RBS alongside the Park?s newsagent, restaurant and coffee shops.

Brora, the cashmere brand much loved by celebrities like Sienna Miller, Julia Roberts and Gwyneth Paltrow, is to open its first Scottish store in Edinburgh.

The company, which specialises in cashmere with a contemporary twist, is leasing a 2,537 sq ft store at 48 Frederick Street at a rental of £38,000 per annum.

Represented by property agents Cushman & Wakefield, Brora has signed a 10 year lease incorporating a rent review with a tenant?s break option at year five.

Brora sells cashmere which has been dyed and knitted in Hawick and has eight stores south of the Border but until now hasn?t had a retail presence in Scotland. Known for their quirky and colourful window displays, its stores are hugely popular with fashion editors and cashmere fans of all ages.

Set up by Victoria Stapleton who grew up in the Borders, Brora was originally a mail order operation before opening its first shop in London in 1995. Most famous for its distinctive cropped cardigans, stripy knits and cashmere baby clothes, Brora specialises in contemporary cashmere in a range of unique colours.

Victoria said: "After years of searching, I am thrilled to have found the ideal site for our first Scottish store in the heart of Edinburgh. I am looking forward to bringing our stylish Scottish cashmere back to its roots and introducing the full clothing collection to a new audience as well as making it easier for our loyal Scottish based customers at Brora."

The Edinburgh Brora store is expected to open in early August and is already recruiting for staff.

Isla Monteith of Cushman & Wakefield, which found the Frederick Street premises for Brora, said: "This is great news for Edinburgh as it demonstrates that despite the current economic climate and the disruption caused by the ongoing tram works, high profile brands are still acquiring premises in the city centre.

"Brora has had its sights set on Edinburgh for some time and was delighted to find great premises right in the heart of Frederick Street near other upmarket brands such as Cath Kidston, Jigsaw, Cruise Clothing and Jane Davidson."

David Matthews at Links CPC representing the landlord said: "From first meeting Brora, the premises seemed a natural fit for showcasing high quality cashmere products. We are delighted with the letting and believe that Brora will compliment the city centre fashion offer and be a magnet for shoppers into this part of Frederick Street, complimenting neighbours such as Berketex, Ede and Ravenscroft, Cafe Rouge and Dickson Reid Hairdressers."

The team behind the development of the new £70m Middlesbrough College campus is celebrating this week after the iconic project secured a highly commended award at the prestigious national RIBA LSC Further Education Design Awards, its third award in as many months, as the scheme has swept across a range of national and regional property awards picking up recognition for its ground breaking design, its contribution to regeneration and its delivery of an outstanding educational campus.

The annual RIBA LSC awards celebrate design excellence in the further education sector and entries were judged on their innovation, excellence, sustainability and adaptability. Middlesbrough College was highly commended as a large scale cross curriculum project.

Designed by Archial Architects' Birmingham office on behalf of Middlesbrough College, the iconic ¼ mile long building, which has transformed a former derelict dockyard site, now houses over 6,000 students and 1,000 staff who all relocated from four separate campuses spread across the town. The maritime-inspired design features a striking main five storey block representing the 'hull' of a ship with reflective multi-toned metal shingle cladding, and a two-storey 'wave' building with curved geometry walls to the rear.

Only days before securing recognition from the Royal Institute of British Architects (RIBA), the project was highly commended by judges at the Middlesbrough Council Design Awards 2009, which as part of the council's Urban Design Week, selected the most significant new developments across the area to highlight the role that they have played in transforming the Middlesbrough landscape.

Councillor Dave Budd, Middlesbrough Council's Executive Member for Regeneration and Economic Development, said: "The importance of good design is critical to the ambition for the town. We need buildings and spaces that everyone can be proud of. If we can raise the aspiration on design then that has to be good for the town's regeneration. We are also creating a legacy for future generations."

This tremendous award success follows after the project last month scooped the prestigious RICS North East Renaissance Regeneration Award for its contribution to the physical, educational, economic and social regeneration of Middlehaven, Middlesbrough.

Widely recognised as the 'Oscars' of the north east property and construction industry, the Royal Institute of Chartered Surveyors (RICS) Renaissance Awards this year welcomed a record number of entries from more than seventy projects from across the north east, with Middlesbrough College beating six other projects that were also short listed in the regeneration category.

Robert Heckels of the Birmingham office of Archial Architects comments on the trio of award wins: "We are all delighted to see the project securing this kind of recognition. It has taken a great deal of hard work from all those involved to complete the development, but it has proven to be well worth it when you witness the very real contribution it has made to the transformation of the Middlehaven site, the single inclusive educational community it has created and the impact that the design has had on the skyline."

Not only does the campus create an iconic landmark on the Middlesbrough skyline it also critically provides unrivalled education facilities which are also shared with the wider community, making it a truly inclusive regeneration project. Boasting 32,000 sq m of space, the building incorporates a 156 seat theatre, a four-storey library, 14 engineering and construction workshops, six hair and beauty salons, a six-court sports hall, a restaurant and cafe, six recording studios, four drama and dance studios, two lecture theatres and six science laboratories.

Archial Architects was chosen by Middlesbrough College to develop this major new building, following a national design competition held in 2005. Following a 20 month building programme the site was completed in August 2008. The development team behind the new Middlesbrough College campus includes Archial Architects, Alsop Architects (masterplanning of the wider site), contractors Laing O'Rourke and project managers AA Project Management.

Forsyth Business Centres' management contracts division has pulled off a coup by winning a contract to take over and run a key Manchester serviced office facility.

The Yorkshire headquartered Forsyth Business Centres fought off stiff competition to secure 31,000 sq ft of serviced office space in Manchester's The Triangle. Forsyth's prompt action has helped secure the futures of 27 businesses operating within the centre who faced uncertainty due to the problems enveloping pervious operator MLS.

Forsyth, part of Kevin McCabe's global property specialist, Scarborough Group International Limited, has taken over management of the prime-site offices in Exchange Square on behalf of the landlord, Aviva Investors.

This is Forsyth's inaugural move into the city but only the latest in a string of takeovers from MLS following similar moves in Yorkshire and Southern England.

It confirms the company's ambitious £200m expansion plans to open business centres across the UK and Europe.

The Triangle management contract for the property sees Forsyth managing offices for 420 workstations over five storeys and maintaining the accommodation and services for the existing tenants including Memplex, ADCS, Financial Claims Bureau, Thomson Reuters, Symatrix and Engage.

David Harrop, finance director at Forsyth Business Centres, said: "Forsyth has moved quickly to win the tender, structure an innovative deal and get on site, securing a good outcome for all parties. The win underlines our undoubted track record as an operator and our ability to quickly deliver effective solutions for landlords and occupiers facing uncertainty over their buildings.

"This is a strategically important move for Forsyth and its first acquisition in Manchester. As a result we are in a position to offer security to the existing businesses in this property. The base for dozens of businesses will be saved and hundreds of jobs secured.

"The management contract deal reinforces how well respected Forsyth is and how we can solve landlord's property problems. Yet again we have stepped in at short notice and been able to offer specialist business support for the landlord and provide the best serviced office provision to tenants."

Paul Smith from King Sturge who represented Aviva Investors' property portfolio in the negotiation said: "It is great news that this deal has gone through; Forsyth, King Sturge and Aviva have worked together diligently to allow the business centre to continue to function. After a period of uncertainty this deal means that all the occupiers can now plan for the future with confidence in one of the best office locations in Manchester".

The Triangle occupies a prime position fronting Exchange Square, an island site dominating the heart of Manchester's new Millennium Quarter, and provides an exciting retail, office and leisure destination in a unique landmark building. The accommodation combines the traditional elegance of an historic building with high quality finishes in a modern office space.

Management of The Triangle builds on Forsyth's continuing UK expansion which has seen the company recently open new serviced offices in Leeds, Darlington, Hemel Hempstead, Tunbridge Wells and Gelderd Point in Leeds.

Forsyth's expansion capitalises on current economic conditions, which make it prohibitive for many companies to tie into long term leases. Its broad portfolio of serviced offices now spans the UK and emerging Asian markets.

Gunn Property Consultants have concluded 2 more acquisitions for outdoor clothing and accessories retailer Mountain Warehouse. This takes them up to over 75 stores in the UK and Ireland.

In Fort William they have taken the former Woolworths store on a new 10 year lease at a rent of £90,000 together with 12 months rent free. The landlord is the President & Scholars of St John Baptist, advised by Reith Lambert. In Ayr they have taken 183?185 High Street on a new 10 year lease, paying £55,000 with 12 months rent free. The Landlord is BTM Motors advised by Gee & Co and CWM.

In St Andrews Gunn Property Consultants advised lingerie and accessories retailer Boudoir Beach on the acquisition of 12 Bell Street. They took a 5 year lease at a rent of £15,000 together with 6 months rent free. The landlord KLG Scotland LLP was advised by Burns & Partners.

On the landlords side, Gunn Property Consultants have advised a private landlord on the letting of 20 Wilson Street in the Merchant City. The unit was let to a hair and beauty retailer called Wil Wils Ltd on a new 10 year lease at an average rent of £12,000, with 1 month rent free.

Stephen Gunn of Gunn Property Consultants commented: "It's a great time for retailers to be acquiring more space. I have a number of retailer clients looking to expand and because landlords are taking a flexible approach to secure good tenants, they are getting good sites."

Knowsley Council is taking more action to make better use of its buildings and ensure that they effectively contribute to the services it delivers to the borough's residents.

The council's Corporate Property Plan is a framework for investing wisely in the authority's property portfolio over the next three years to ensure that all buildings are fit for purpose and no resources are being wasted.

It is the latest positive move by the council following recent decisions to invest in world class facilities, including the Future Schooling in Knowsley programme, the regeneration of Stockbridge Village and the multi-million pound investment in leisure facilities.

A comprehensive assessment of more than 100 council buildings has been carried out evaluating their condition, accessibility, health and safety and environmental impact.

The properties that are fit for purpose will continue to receive investment for maintenance, while others will have money spent on them to allow them to be used more appropriately - in some cases, with services co-locating with its partner agencies. It is anticipated that the plan will save the council around £150,000 in the first year, with up to £1m being saved in future years.

Cllr Graham Morgan, Knowsley Council's Cabinet Member for Regeneration, Economy and Skills, said: "The Corporate Property Plan is crucial in making sure our buildings enable us to deliver services in an efficient, cost-effective and sustainable manner.

"The plan ensures that future decisions will be made in line with the council's vision and that a consistent and evidence based approach is adopted.

"Furthermore, it will ensure that we are not wasting money on buildings which are not being used in the best way and will support our aim of providing high quality services to everybody who lives and works in the borough."

Shanks, one of Europe's largest recycling companies, advised by Gerald Eve, has taken a 10 year lease over 3 acres of land and 5,000 sq ft of offices at the J10 M8, Easter Queenslie scheme in Scotland.

The deal on United Wholesale (Scotland) site will complement Shank's Blochairn facility and will be used for the storage of Shanks vehicle fleet along with administrative offices.

Glasgow-based surveyor Jennifer Addis of Gerald Eve said: "This acquisition was imperative in allowing Shanks to continue with its on-going plans to redevelop their Blochairn site to provide additional recycling facilities.

"Given their strict requirements, J10 M8 offers the right mix of office, storage space for vehicles and is ideally located within a short driving distance from their existing premises."

Gerald Eve has also saved Shanks £237,000 in empty rates at their decommissioned Rechem incineration plant near Pontypool after reviewing a significant bill received following the introduction of empty rates legislation in April 2008.

Colliers CRE and Jones Lang LaSalle are the agents for J10 M8.

A South Yorkshire construction specialist has secured a cross-Pennine contract worth more than £1 million on Manchester's premier office development.

Rotherham based Horbury Group has clinched a new contract worth more than £370,000 on Manchester's Piccadilly Place development, a key project in the centre of the city.

Titan Ceilings, one of nine companies that make up the Horbury Group, has been appointed by Carillion PLC, and will install metal suspended ceilings and bulkheads in the 110,000 square foot Four Piccadilly Place.

Titan has previously completed work on Three Piccadilly Place in the development to fit suspended ceilings and bulkheads to this 190,000 square foot of Grade A sustainable office accommodation in a contract worth £650,000.

Piccadilly Place is a mixed-use development, set to transform the Piccadilly area of Manchester where the city's busiest transport interchange is located. The development is part of the £1.2 billion investment in the area, due to be completed by 2010.

Trevor Wragg, managing director of the Horbury Group, said: "Manchester is currently experiencing a huge regeneration, with a number of modern accommodation, office space and retail unit developments.

"The Piccadilly Place development in the city centre is a key project to transforming Manchester and we are thrilled to be involved in such a high profile project to add to our increasing portfolio of private sector schemes."

The site at Piccadilly Place is divided into two by the Metrolink tramway. The northern area includes One Piccadilly Place, which will be developed into a 285 bed hotel and Two Piccadilly Place, which will provide 55,000 square feet of Grade A office space.

The southern section of the development comprises Three to Six Piccadilly Place, totalling 300,000 square feet of premium quality offices and Seven Piccadilly Place, which is a 117 unit apartment block.

The Horbury Group also recently secured a number of public sector contracts, winning major school and hospital work across the UK, to compliment its existing portfolio of private sector clients throughout the country.

The recent Eddisons Property Auction raised total proceeds of just over £4m.

In total 63 lots were offered at the Leeds sale with 49 (77%) attracting buyers which included 14 lots sold prior.

Tony Webber of Eddisons said: 'Although the percentage of lots sold was reasonably high there was further evidence that funding remains the single biggest problem prospective buyers are encountering. The lower priced lots which needed little or no external funding were certainly in most demand.

'By contrast a significant investment opportunity in Bradford which has an annual passing rent of over £27,000 had received considerable interest prior to the auction but attracted just one bidder. The property only achieved its reserve of £320,000 which we had expected to be comfortably exceeded.'

The next Eddisons Property Auction takes place in Leeds on July 23.

Ryden, on behalf of Scottish Widows Investment Partnership Limited, has announced that the AVEC Corporation has taken 10,000 sq ft at the Aircargo Centre at Glasgow International Airport.

The AVEC Corporation, which specialises in selling and distributing hairdressing and beauty products, is relocating from Gloucester and has signed a 10-year lease at a rent of £50,050 per annum. The firm joins other high profile tenants at the Centre including Fritz Incorporated, Plane Handling, Alpha Catering, Saints Transport Limited and Expeditors.

Gregor Harvie, Surveyor at Ryden, said: "I am pleased to announce this deal on behalf of my client. The Aircargo Centre provided AVEC with high quality cost effective space and I'm sure they will trade well from this location, given the ease of access to Glasgow Airport, the M8 and the City Centre."

Following this deal only 20,000 sq ft of distribution and warehousing accommodation now remains available at the Aircargo Centre. The space can be sub-divided to provide two, 10,000 sq ft units and is available for immediate occupation.

Ryden and Jones Lang LaSalle jointly represented Scottish Widows Investment Partnership Limited. Culverwell acted for the AVEC Corporation.

Leading law firm Shepherd and Wedderburn has beaten off stiff competition from a number of top City law firms to win an appointment on the panel of legal advisors for the London Development Agency (LDA).

The firm is one of only five new law firms to join the panel, following the LDA's recent review of its roster of external lawyers, which saw the panel reduced from 18 firms to eight.

Shepherd and Wedderburn was selected from a list of over 200 applicants, many of which included a number of key players in the City.

Patrick Andrews, Chief Executive of Shepherd and Wedderburn, said: "We're absolutely thrilled to be among the few new firms appointed to the panel, particularly when we were up against such strong competitors. This affirms our credentials as a leading UK firm and is a great endorsement of our expertise. We very much look forward to working with LDA on some exciting projects in the coming months."

Shepherd and Wedderburn joins Ashfords, Burges Salmon, Herbert Smith, Lovells, DLA Piper, Eversheds and Stephenson Harwood on the panel.

Yorkshire joint venture company, Landmark Castlevale LLP has received planning permission for a multi-million pound mixed-use development at Langthwaite Grange Industrial Estate in South Kirby, Wakefield. The approval given by Wakefield Metropolitan District Council gives the go ahead for essential development of 32 acres of land.

This will form the second phase of development at the business park and includes 27 acres of employment land supported by five acres of residential development. The development will provide a mix of starter units ranging from 750 sq ft to 2,500 sq ft as well as design and build opportunities. A purchase option will be available for companies wishing to invest in their own business premises that come with office space, yards and parking facilities.

Richard Morton, Director of Landmark Castlevale LLP comments: "We are delighted to receive this approval which will deliver against a current gap in the market for high quality industrial/distribution accommodation that does not command excessive rents due to overlooking the motorway. Our alternative for the second phase at Langthwaite Grange includes improving the highway access and service infrastructure making the A1 easily accessible to occupiers but without the crippling cost."

Landmark Castlevale LLP is currently finalising the Section 106 Agreement and hopes to start on site with preparatory works before the end of the year.

A residential element was introduced to the mixed-use application to generate sufficient income to cross-subsidise the employment development. It also enables Landmark Castlevale LLP to provide new public roads and improve the services infrastructure to the site.

Owen Holder from Knight Frank in Leeds, appointed agents to market the development alongside Carter Towler, comments: "In comparison to other sectors of the market the land value of traditional industrial sites next to the motorway networks has remained reasonably steady. This is due to the fact that land usually earmarked for industrial and distribution uses has been developed as out of town office and retail parks. At its peak this land was valued at anything up to £400,000 per acre. The knock on effect of this is that smaller local businesses have been priced out of the market.

"Langthwaite Grange is situated between the M1 and A1 with access via good A-road networks; however, the land values here are almost half. This planning approval means there is the opportunity for smaller local businesses to operate efficiently out of new purpose built premises."

The sale of the former Wrose Community Centre on Wrose Road, Shipley has been announced.

The prominent site has been sold to an unnamed local developer by the Bradford office of Eddisons, acting on behalf of the Wrose Community Association.

It is hoped that the capital receipt achieved from the sale will generate significant grant funding, with the total gain to the community expected to exceed £350,000.

Jonathan O'Connor of Eddisons said: 'This was a complicated deal conducted on behalf of the Association's trustees. It had to be progressed within very stringent guidelines laid down by the Charity Commission and involved regular liaison and reporting in accordance with charity regulations.

'Hopefully the positive outcome will be of major long term benefit to the village and its residents.'

The outdated facility occupies a site extending to just over half an acre and has been on the market since early 2008 which coincided with a significant down turn in the property sector.

'Since we started marketing the site the property sector has experienced some turbulent times which makes the completion of the deal particularly satisfying. It also proves that there are still buyers on the look out for good quality sites with development potential in the Bradford area,' commented Jonathan O'Connor.

In the largest out of town serviced office deal so far this year, Coatbridge College have signed a two year agreement to re-locate their entire campus to Strathclyde Business Park, whilst their £25m campus re-development project is completed.

The deal will see the college occupy 35,000 sq ft in Duart House, the Business Park's flagship office building.

Coatbridge College employs over 300 staff members, has 7,000 students, and provides a comprehensive range of courses designed to help people from all backgrounds acquire new skills and improve their employment prospects.

Principal and Chief Executive of Coatbridge College, John Doyle, explained ?Over the past two years, the College has developed a very ambitious, attainable estates strategy to ensure a fully accessible College, making sure it complies with the Disability Discrimination Act and is 'fit for purpose'. Following from our successful application to the Scottish Funding Council, and our target to have works completed by February 2011, it was necessary to re-locate operations to minimise disruption to students, staff and contractors."

"Strathclyde Business Park provides an ideal location with an engaging environment, and the Park management team have provided both the flexibility and the quality of accommodation we need for our staff and students to thrive and maximise their potential."

As part of a wider strategic move by the College, the award winning Dental School will remain at Strathclyde Business Park after the Coatbridge campus is completed.

Development Director, Stephen Lewis commented "As Scotland's first college, Coatbridge College has played a fundamental role in educating Lanarkshire's workforce for the last 80 years. It's entirely appropriate that they chose to de-cant to Scotland's premier business park location, which has played such a vital role over the last 15 years in re-vitalising Lanarkshire's economy".

"We worked very closely with the college to deliver a tailored lease structure, together with the management and delivery of their extensive fit out. This, coupled with the Park's amenities and moreover transport connections ensured that it provided the College with the best solution.

"We are very excited about the additional benefits that this brings to the existing 6,000 staff on site. The Dental School will provide commercial dentistry services, and the College's extensive evening classes course provides a host of additional on-site learning opportunities, alongside the College's Corporate Development services."

Integrity, inspection and corrosion specialist iicorr has moved into a new, £4million purpose-built global HQ in Aberdeen.

The offices at 1 Minto Place, at the Minto Commercial Park development in Altens, will allow iicorr to better serve the needs of customers, both in the UK and internationally, with modern training facilities and greater office space to meet demand for the company's range of services.

The three-storey, 17,000sqft HQ is double the size of iicorr's previous premises at Greenwell Road in Altens. The building also features a new workshop and concrete yard allowing the development of new technology and equipment in the fields of subsea technical integrity and offshore cathodic protection services.

George Watson, managing director, iicorr, said: "The new facilities provide the level of accommodation needed by iicorr to continue to expand over coming years. Our staff are delighted to have moved to such a modern, welcoming environment that truly reflects our ambitions for further growth in the UK and overseas.

"As well as providing excellent facilities for our 100-strong team in Aberdeen, the workshop space will allow us to continue to develop new technology for the integrity, inspection and corrosion services we provide."

iicorr is a specialist in integrity, inspection and corrosion, providing consultancy, management, engineering and operational support in the oil and gas, process, utilities and marine industry sectors. The company employs around 200 people, 100 of them in Aberdeen, with a further 100 at bases in Arlesford, UK, Houston, Baku, Kuala Lumpur, Perth, Australia, and Benelux.

The Leeds office of global property consultancy Knight Frank has been appointed as the sole agent to market a modern warehouse and manufacturing building in Otley Road, Shipley.

The building, which comprises 131,000 sq ft of industrial space, is located on the A6030 Otley Road, about one mile north east of Shipley town centre. It is for sale, although it could be leased.

Owen Holder, partner and head of the industrial property department at Knight Frank in Leeds, commented: "This represents an opportunity for growth for local businesses in the area, who want to remain in Shipley. Typically units of this size seldom become available in the town."

The owners are Havells Sylvania, one of the largest and fastest growing manufacturers of electrical components and systems in India. Their Shipley manufacturing process will be consolidated within other facilities of the organisation including Newhaven UK

With 94 branches and representative offices and 8,000 professionals in more than 50 countries, the Havells group has grown rapidly to a $1 billion US company. At 18 manufacturing plants in India, Europe, Latin-America and Africa, the group produces globally-acclaimed products such as switchgear, cables, wires, fixtures and lamps.

Mr Holder said: "This is a high-class new instruction for Knight Frank from a billion dollar global company, whom we look forward to working together more closely in the future. Although we live in challenging times, deals are still being done on quality buildings in excellent locations and this building and this location fit the bill."

The 1980s building, which is divided into 108,000 sq ft of warehouse space and 23,000 sq ft of offices or stores, has two dock-level loading doors, four ground-level loading doors, 5.75 metre eaves, a security gatehouse and good quality office accommodation.

Mr Holder said: "The closest motorway is the M606, which is about eight miles away, and this is close to both the M62 and the M1. Meanwhile Leeds-Bradford Airport is only four miles away."

This is the second major new appointment for the industrial property department of Knight Frank during the past month. The firm was recently appointed to market Waystone's Hatfield Power Park near Doncaster in South Yorkshire.

The first occupiers for Faverdale East Business Park have been secured with lettings totalling 140,000sqft being completed within the last month. King Sturge has let a 100,000sqft unit to Cold Store Logistics Ltd and a further 40,000sqft unit has been let to Capita Business Services.

Faverdale consists of 190,000sqft of speculative industrial and distribution space, developed by industrial property specialists, Easter. The business park is situated on the outskirts of Darlington town centre alongside the 760,000sqft Argos direct regional distribution centre and the Aldi distribution centre totalling 360,000sqft.

Simon Hill, Industrial Partner at King Sturge said: "This location offers excellent road links to all parts of the region and has therefore been targeted by a number of retailers for their regional distribution hubs. We are confident that the last two remaining units will be occupied shortly."

New occupiers, Cold Store Logistics, have signed up to Unit 4 on a 15 year lease. The property will be used as a storage and distribution facility for the new logistics firm, which has recently been created as a result of a new contract with Aldi supermarkets to handle and repackage fresh produce on their behalf.

Sarah Purvis at Cold Store Logistics said: 'The unit at Faverdale provides us with high quality premises and the flexibility required to accommodate our needs to fulfil our new contract with Aldi. We intend to make a significant investment in the accommodation in order to customise the unit and create a state of the art cold storage facility'.

Capita Business Services, who have signed up to Unit 1 on a 10 year lease, will be using the property for storage and data centre facilities. There are now only two units remaining at Faverdale of 20,000sqft and 30,000sqft which are available for sale or to let.

Edinburgh-based Almondale Investments has secured a major industrial letting that will take the UK's largest independent sheet and plate stockholding company to Lanarkshire.

Yorkshire-based Eterniti Steels has agreed a three-year lease on Units E and F at Almondale's Europark Industrial Estate at Mossend near Bellshill. The properties extend to 30,000 sq ft of high bay factory accommodation with an acre of storage land. The quoting rent for the properties was £2.50 per sq ft.

Europark is located literally across the road from the former CORUS service centre and plate profiling mill, which closed earlier year with the loss of 78 jobs.

The Scottish operation of Eterniti Steels is currently based at Loanhead, near Edinburgh, but this will now be concentrated in Mossend.

Colliers CRE and D M Hall acted for Almondale Investments (Eterniti Steels was unrepresented). Iain Davidson of Colliers said: "We are delighted to have secured such a well established tenant as Eterniti Steels at Europark who were attracted to the estate by its strategic location within the heart of Lanarkshire and by the flexible approach adopted by our clients.

"While market conditions remain challenging we are encouraged by the fact that the deal was concluded within weeks of our instructions to market the property. Indeed our marketing brochure was still at the printers!"

Iain Mercer, group managing director, Almondale Investments, said: "This letting proves that if you are prepared to be flexible there are deals to be done at the right price despite us being in a deep recession. We are thrilled to have Eterniti Steels signed up who we are sure will be good for the area." The deal has won praise from local politicians and business representatives.

Councillor Jim McCabe, leader of North Lanarkshire Council, said: "Almondale Investments have, in the past, delivered on their commitment to the area and I am pleased they have done so again by securing Eterniti's investment.

"The current economic climate is challenging and I very much welcome Eterniti's recognition of North Lanarkshire as an excellent place to do business.?

Michael McMahon, the MSP for Hamilton North and Bellshill, said: "This is terrific news. Hopefully it may provide employment prospects for at least some of the skilled men who were made redundant by CORUS. Also, it will be of great benefit to Lanarkshire companies to have access to locally-sourced steel because locating it further afield would obviously add to their costs.

"I also think that Eterniti's decision to open at Mossend undermines the argument put forward by CORUS that an insufficient market existed for the Lanarkshire plant."

Douglas Millar, chief executive of Lanarkshire Chamber of Commerce, said: "In the current economic climate it is really good news to hear of Eterniti Steels' plans to establish a base at the Europark Industrial Estate, a facility that will bring much needed jobs to North Lanarkshire.

"This investment clearly demonstrates that even during the current recession, Lanarkshire has what companies are really looking for - first class premises and infrastructure as well as access to a suitably trained and available workforce."

Almondale Investments and it sister company, Cosmopolitan Investments, has enjoyed a long and successful relationship with Lanarkshire. Cosmopolitan's flagship project in the county, Innovation Park at Bellshill, is a 70,000 sq ft office development whose tenants include the Guardian Newspaper Group, Balfour Beatty and Lloyds banking group.

Acting on behalf of a private client, Innes England is pleased to announce the sale of a four storey retail property with ground floor retail use.

The property had been marketed for sale or lease and was sold for £400,000.

The property fronts Cheapside in Leicester City Centre which is opposite one of the entrances to the recently redevelopment Hermes and Hammerson Highcross retail centre, formerly the Shire Shopping Centre.

Steve Scott, Associate Director at Innes England said: "The Grade II listed property is right in the heart of Leicester's shopping and nightlife centre and is going to be developed as a hot food take away outlet by the new owners."

International real estate advisor Savills and joint agent Knight Frank have let space at Metquarter in Liverpool to Mococo.

The new store, which totals 352 sq ft (32.7 sq m), will be a first for the designer jewellery boutique in Liverpool. Mococo, noted in particular for stocking the renowned Pandora brand, will pay an annual rent of £22,500 per annum, exclusive.

Maureen Hooson, owner of Mococo, comments: "The idea of coming to Liverpool came about when I was out shopping one day with my husband. We came to the city with an open mind and as soon as we walked into Metquarter we knew it was the right place. It is a fantastic location with a brilliant mix of retail opportunities. I believe it is the perfect place for Mococo."

Jennina O'Neill, head of marketing at Metquarter, added: "We are delighted Mococo has chosen Metquarter for the new store. The brand fits perfectly with the excellent retail mix which we have here in the Whitechapel Mall. We are sure Mococo will prove to be extremely popular with both our existing customers and also in attracting new customers into the mall."

Mike Knowles, associate director of Savills, comments: "Jewellery has always performed well in the Metquarter and Mococo will bring new brands Pandora and Thomas Sabo to Liverpool. Metquarter is home to some of the most high profile brands in the city and Mococo will further compliment the existing tenant mix."

Other tenants at the scheme include DKNY Jeans and Hugo Boss.

Mococo was not represented.

42-45 Queensferry Street in Edinburgh, currently home to Italian restaurant chain Zizzi, has been sold at auction for £1,775,000 by Jones Lang LaSalle.

The property is leased to Ask Restaurants Ltd until 2030 at a rent of £130,000 per annum. It offers a 398 sq m space over three floors.

Alisdair Hogg of the investment team at Jones Lang LaSalle said: "This is a great result, demonstrating a clear positive shift in attitudes towards commercial property investment. While the debt market remains frozen, cash investors are starting to find some of the best deals in the auction marketplace for a decade for the more secondary assets. Queensferry Street is an impressive investment opportunity, offering a high quality space in a popular West End location."

The lot was sold at Jones Lang LaSalle's second commercial property auction of the year, held on 20th May in London. The auction achieved a very encouraging 73% sale rate on the day and highlighted the rising demand of private investors for superior quality properties let to first rate tenants. It raised £40 million, a huge result in a market where product is simply not available. The average size for investment lots was over £1.05 million, with 30% selling above this mark.

Commenting on the auction's success, Richard Auterac, Director and Auctioneer at Jones Lang LaSalle, said: "There was a great atmosphere in the auction room; you could tell that investors appreciated the real buying opportunities present from the breadth of the bidding, especially for the finest retail assets. Cash returns on savings are still pitiful against the potential returns on property, and those who are not saddled with debt were rightly tempted into the auction room and to spend.

Over the coming months we are going to face a dearth of these sought after properties and this will have an upward push on prices. However, a two tier market has emerged since the start of the year and though experienced and liquid investors are out in force and eager to snap up well priced quality lots, secondary assets are still waiting for their bounce back."

Home sweet home...Sheffield Chamber of Commerce has launched a new property scheme to assist start-up companies with office space within two brand new locations.

Designed with the needs of dynamic young businesses in mind, flexible lease deals at the Omnia One and Quadrant office spaces have been arranged as part of the Chamber Property Assist program.

The properties, both based near the Sheffield Parkway, boast state-of-the-art technology, fully equipped conference and meeting rooms and high levels of security to complement the 24-hour access to the buildings.

Paul Reeves, Chamber director of business development, said: "We have launched this initiative to assist our new start and growing Chamber members with offers on office space.

"The Quadrant and Omnia One developments stood out to us as because of their ideal locations, both within the City Centre and also for access to transport links. The property on offer means that businesses can concentrate on their development and progression instead of worrying about office space."

Property Assist is an initiative devised by the Chamber and their property partners to arrange short and long term lease deals to suit individual business requirements and signals a new direction for the Chamber.

"We are keen to develop property relationships and this was an ideal starting point," explained Paul. "New property is always being added to our portfolio, so we advise members to speak to a member of our business development team, to discuss their office needs."

Seb Brown, Omnia manager said: "We are delighted to be associated with the Chamber in this programme, the facilities on offer at Omnia are ideal for anyone considering office space.

"We can also offer a range of products to assist start up businesses including professional telephone answering services, hot desking and access to our range of meeting rooms."

An array of fashion stores have opened for business this month at Aberdeen's Bon Accord Centre - owned by Land Securities and British Land - reaffirming its reputation as a top Scottish shopping destination.

Brand new addition, Karen Millen, which opened on 2nd May, chose Bon Accord to launch its first store out of the central belt, and has already enjoyed success by exceeding its sales targets within the first week of opening by 140%, outperforming its Glasgow and Edinburgh stores.

Also, popular high street names Warehouse, Oasis and Coast have all relocated to new, larger units within the centre and are open for business.

The fabulous four take up a total of 12,100 sq ft* of retail space and their opening coincides with the extensive refurbishment of the central atrium, where the stores are located, creating a premium high street fashion hub. More fashion retailers are set to open in this area in August, including River Island (11,180 sq ft), Topshop (16,000 sq ft) and a flagship Next store (54,000 sq ft), set to be the biggest in Scotland.

On behalf of the partnership, Katherine Armstead of Land Securities commented: "We have invested significantly in our Aberdeen centres, reconfiguring units and upgrading surroundings to help ensure we can continue to attract top brand names as well as improve the shopping environment for our customers.

"With a host of new fashion retail names opening, matched with current tenants expanding their stores within our centres, it highlights that the Bon Accord and St Nicholas Centres continue to be a top choice for retailers."

Eric Young & Co, Cushman & Wakefield and FG Burnett are joint retail agents for Bon Accord & St Nicholas while CWM acted for the Aurora Group.

The Leeds office of international property consultancy Knight Frank has advised on the sale of Tower Court, Clifton Moor, York, for in excess of £3 million.

Tower Court was bought by Clifton Moor Investments, a subsidiary of Doncaster-based Lazarus Properties Ltd from the Falcon Property Trust, managed by CBRE Investors.

The 48,000 sq ft mixed-use development provides a neighbourhood shopping centre alongside with a busy medical practice. The rent roll is in excess of £400,000 a year.

Rebecca Farnsworth of the Leeds office of Knight Frank advised Falcon Property Trust.

Meanwhile Knight Frank has completed another investment deal involving Falcon Property Trust, advising on the acquisition of an industrial estate in Derbyshire for a private investor for £1.85 million.

The 56,000 sq ft Freshwaters Industrial Estate in Park Road, Holmewood, Chesterfield has a variety of tenants with a rent roll of more than £250,000 a year.

Rebecca Farnsworth of the Leeds office of Knight Frank commented: "These deals show there are people willing to transact in these challenging times when they have confidence in the underlying property fundamentals."

Ashtenne has recently let space at The Forum on Tameside Business Park in Manchester to Go To Doc.

The local out of hours patient service has taken 7,000 sq ft (650 sq m) of new build office space at an annual rent of £75,000.

Located within the established Tameside Business Park, The Forum offers 25,000 sq ft (2,322 sq m) of new office space set just minutes from the M60.

Paul Boothman, regional manager for Ashtenne, comments: "We are delighted to welcome Go To Doc to The Forum having been able to meet their specific requirements with a flexible approach to space-planning and terms. We're building a strong business community here in Denton and remain optimistic about the prospect of further deals in the near future."

Richard Lowe from Savills, who facilitated the deal, adds: "Tameside Business Park has seen major investment in infrastructure over the past twelve months and continues to attract established new businesses such as Go To Doc, despite the current challenges in the economic market."

Shepherd Construction this week celebrated a major milestone in the construction of a mixed-used development that is set to re-draw Sheffield's skyline.

The nationally-operating contractor held a 'topping out' ceremony to mark the completion of the highest point on the City Lofts St Pauls' Apartments development, which at 108 metres high will rise 30 metres above Sheffield's previous holder of the 'Tallest Building' title, the Arts Tower.

Shepherd's chief executive Allan McDougall together with representatives from the city and the building project, performed the 'topping-out' for the development, designed by architect Conran & Partners, ahead of the first residents moving in when the apartments complete this September.

Almost two thirds of the 316 luxury one and two-bedroom apartments have already been sold. The apartments are split between two interlinking towers - Tower One at 12 storeys and Tower Two at 32 storeys.

A further phase of development, providing 22,000 sq ft of retail and leisure facilities, and 88 car parking spaces, will complete in August 2010.

Allan McDougall, chief executive for Shepherd Construction commented: "This is a key milestone for this striking development which is rapidly achieving iconic status in Sheffield and will provide residents with fantastic panoramic views across the city.

Graeme Dodds from developer City Lofts Sheffield said, "We are proud to be delivering a project that is set to make a significant contribution to the regeneration of the city, and look forward to completing the first phase later this summer. In the current climate, it is testament to the success of this building that so many apartments have already been sold."

Rossco Properties, the property investment vehicle of Simon Howie, has completed Phases 1 & 2 of Inveralmond Trade Park - practical completion took place in May 2009.

With the supply of speculative industrial units severely constrained in Perth, Rossco is delighted to announce that, apart from a single unit, the entire development of 67,000 sq ft over 13 units has been let.

Lettings are as follows: Phase 1 unit 1 to Screwfix Ltd, unit 3 to Turnbull Aluminium Ltd, units 4-7 to Tayplay Ltd. Phase 2 units 1-4 to Shore Laminates Ltd, units 5-6 to Everest Ltd.

Colliers CRE acted for Screwfix, McMeeking & Co for Everest. Bidwells acted as letting agent for Rossco.

Rents of £6/sq ft were achieved on flexible lease packages. Only unit 2 is available at 4,984 sq ft.

Simon Howie commented: "I took the view that with tight supply there would be a market demand for new trade park units. Fortunately, the location, just off the Perth bypass, is excellent. We also ensured the spec of the units was high, including 24 ft eaves height, so tenants could get value for money, racking high to use the volume.

"I'm now selectively on the hunt to acquire existing industrial multi-let investments and vacant industrial kit where they can be sub-let in the central belt. I've a few bids out at present, and two deals in legals. My key concern is how to price lease expiries or tenant breaks, as the occupier market is clearly delicate at present."

Leading property consultant, CB Richard Ellis (Scotland) has announced the completion of another significant deal in Aberdeen.

CBRE (Scotland), acting on behalf of Stewart Milne Developments, has let a workshop, warehouse (38,000 sq ft) and offices (19,000 sq ft) facility on Howes Road, Bucksburn, to mechanical services company EnerMech Limited.

A 15 year lease, at a rental in the region of £375,000 pa, has been agreed for the facility which was formerly occupied by Acergy and is now EnerMech's global headquarters. The deal allows EnerMech to pool its engineering resources, integrate recent acquisitions and reduce operating costs.

Mike Robertson, Managing Director of CBRE in Aberdeen commented: "The Aberdeen market continues to show promising signs despite the current UK market conditions. We are pleased to have a new tenant in place just a month after the previous tenant vacated. There are additional offices available at Howes Road all with appealing and flexible terms, which we hope to secure tenants for in the near future."

Malcolm Deans, Managing Director of Stewart Milne Developments said: "Whilst the market tailed off in the latter months of 2008 and early 2009 and deals are certainly harder to complete, we remain positive about our ongoing developments in Aberdeen. From Howes Road, to Union Plaza to Axcess, all these developments have interest in them at present, and we are confident we will secure further occupiers in each."

CBRE represented Stewart Milne Developments while EnerMech Limited was represented by AB Robb Ltd.

Hull City Council has granted planning permission for a £5 million development set to transform a key gateway site in Hull.

Wakefield-based architect the Harris Partnership has provided designs for joint venture developers, Wykeland Group and Realis Estates, to bring forward a striking 80-bed Travelodge with parking and restaurant facilities.

The national architectural practice has worked alongside Leeds-based planning consultants, Indigo Planning to progress the design and planning of the island site on Pryme Street, located to the North of the City centre.

Dominic Gibbons, Director of the Wykeland Group comments; "We have been working with Travelodge and Hull City Council for the last couple of years to bring this development forward.

"Following substantial pre application consultation, we are delighted to have gained a comprehensive approval from the Planning Committee and we are aiming to be on site by the end of the year."

Carl Braim of The Harris Partnership adds; "We have worked very hard on the designs, incorporating contemporary materials and clean lines, to provide a building that is both striking and unique to Hull and Travelodge.

"It is clear to see that a number of recent leisure and retail projects such as the St Stephens Centre and the Hull Truck Theatre have changed and enhanced the City. As a consequence, Hull is seeing an increase in visitor numbers and we are delighted to be involved in a project that will provide a much-needed facility for the City."

When completed, the hotel will comprise four floors of accommodation above a prominent restaurant and reception space. Undercroft parking will provide 29 car parking spaces for the hotel, allowing the current public car park on the site to be maintained.

Ashtenne has recently let space at The Forum on Tameside Business Park in Manchester to Go To Doc.

The local out of hours patient service has taken 7,000 sq ft (650 sq m) of new build office space at an annual rent of £75,000.

Located within the established Tameside Business Park, The Forum offers 25,000 sq ft (2,322 sq m) of new office space set just minutes from the M60.

Paul Boothman, regional manager for Ashtenne, comments: "We are delighted to welcome Go To Doc to The Forum having been able to meet their specific requirements with a flexible approach to space-planning and terms. We're building a strong business community here in Denton and remain optimistic about the prospect of further deals in the near future."

Richard Lowe from Savills, who facilitated the deal, adds: "Tameside Business Park has seen major investment in infrastructure over the past twelve months and continues to attract established new businesses such as Go To Doc, despite the current challenges in the economic market."