October 2019

Our Monthly Round-Up: September 2019

September has been a busy month for us at Legat Owen. There has been lots of new instructions and a steady flow of deals completing.

Investment News

We have been particularly busy with investments this month.

There has been new instructions among many of our departments including the mixed use investment/development opportunity at Oulton Lane, Cotebrook, Tarporley. The income producing opportunity comprises a site of 0.31 acres and is made up of two residential flats, two retail units, two offices and a café.

FOR SALE – Land & Property at Oulton Lane, Cotebrook, Tarporley

Our Nantwich office has also brought to the market 2 retail investment opportunities.

16 The Square, Audlem is held freehold subject to the 3 long leasehold interests on the upper floor flats and 2 leases of the ground floor retail units.

FOR SALE – 16 The Square, Audlem

In Nantwich town centre, 18-20 Swine Market is available for sale. The premises comprise two mid terrace retail units at ground and first floors with glazed shop fronts. The units are to be sold together but consideration to selling the units individually will be considered.

FOR SALE – 18-20 Swine Market, Nantwich

On the industrial side, a rare opportunity to purchase a multi-let portfolio of managed workspace totalling 244,368 sq ft across 6 self-contained sites has become available. The Brymau Portfolio, Chester produces a total Net Income of £801,743 per annum, is well maintained and benefits from a dedicated on-site management team who are to be transferred to the buyer on sale.

FOR SALE – Brymau Portfolio, Chester

Office News

Our office department completed the letting of Suite 2 Sycamore House, Ellesmere Port to Multi-Media UK LLC Ltd which sees the scheme fully let. Sycamore House comprises a modern detached two storey office building, situated in a prominent position on the entrance to the Cheshire Oaks Business Park.

If you are looking for office space on the Business Park, we are marketing Aldford House to let. The first floor modern open plan office comprises 4,600 sq ft and is available for immediate occupation.

LHS – Sycamore House / RHS – Aldford House

It is also great to hear our deal has completed at Suite 2D, Sutton House, Ashville Point, Runcorn to Chirple. We acted on behalf of our retained client Capital Holdings Ltd. We have further space available on the site and if you would like to discuss, please contact us. We are also managing agents of the site.

Sutton House, Ashville Point, Runcorn

We are also marketing 3 superb offices within Chester City Centre centred around the historic Amphitheatre. 23 Newgate Street, The Exchange, and 10 St John Street are all ideal for local businesses considering a relocation. In addition, they have all have been refurbished and are ready for immediate occupation.

TOP – The Exchange / BL – 23 Newgate Street / BR – 10 St John Street

Industrial News

September has seen a number of new build industrial units start on site.

In Ellesmere Port, the second phase of Helix is under construction. Helix 2 is a new manufacturing/warehouse unit comprising 12,000-16,000 sq ft, and sits within the Cheshire Science Corridor Enterprise Zone.

Helix Phase 2, Ellesmere Port

In addition, Ellesmere Port is also home to Aviator125, the new build manufacturing / distribution unit of 125,000 sq ft. The unit will be available from Q1 2020.

Construction works being undertaken on site at Aviator125

Meanwhile in Bromborough, work is being undertaken on the new unit available at Riverview 3. The unit comprises 30,000 sq ft or can be split to make two units of 15,000 sq ft.

CGI of Riverview 3, Bromborough

More new units currently under construction are at Boundary Park, Deeside. The 3 new units will range from 10,000 – 50,000 sq ft and will be available Q2 2020.

CGI of Boundary Park, Deeside

Retail News

In September the retail world saw major airline and holiday firm Thomas Cook enter Compulsory Liquidation and cease trading. Legat Owen are now acting on behalf of the landlord’s at 5 Thomas Cook stores in Heswall, Sandbach, Nantwich, Chester and Ashton in Makerfield with a view to finding replacement tenants.

In other news, we have completed a letting in Flint to Sports Direct on a new 10 year term. The unit comprises circa 8,000 sq ft and the store will be opening in the next 6 weeks.

Sports Direct sign a new 10 year lease in Flint

Nantwich News

In our Nantwich office, Director Andy Butler has completed the sale of 8 Mallard Court, Crewe. The long leasehold interest of the high specification self contained office, with car parking, was sold. We are now marketing the 1,367 sq ft office premises to let at a rent of £18,000 per annum.

SOLD / NOW TO LET – 8 Mallard Court, Crewe

A new instruction has been received on behalf of Air Products to begin marketing the high quality office accommodation at Two Millennium Gate, Crewe Business Park. Offices are available at ground floor level only to let from 2,181 Sq Ft to 9,599 Sq Ft.

Another new instruction is in Nantwich town centre. 56 Hospital Street is a two storey shop unit to let comprising 1,008 sq ft and is suitable for alternative uses, subject to planning.

LHS – Two Millennium Gate, Crewe / RHS – 56 Hospital Street, Nantwich

In addition, our Associate Director Karen Kilcourse is pleased to announce the completion of the lease of 28 Pillory Street, Nantwich – a traditional retail unit in the centre of Nantwich to an independent fashion retailer DDR Clothing.

Management News

Refurbishment works are underway at Electra House on Crewe Business Park. A new concept is being created within Electra House called Corespace which will be for tenants of Electra House, associated companies and non-tenants.  Corespace will use an online bookable system and  all tenants will become members of Corespace.  The facilities to be provided include a meeting room which will be suitable for video conferencing, co-working space, private offices and the ability to carry out events in the reception area. Corespace is due to be available from mid November.  Watch this space for further information regarding our launch event!

Corespace will be at Electra House, Crewe

In our Chester office, we have been retained as managing agents for the new owners of the Deiniol Shopping Centre, Bangor, following their purchase on 10th September 2019. We also have a number of retail units available to let ranging from 315 sq ft to 2,392 sq ft.

Deiniol Shopping Centre, Bangor

Building Surveying News

Our building surveying department has been looking at asbestos this month and is on hand to help those who are responsible for the maintenance of commercial property. Please contact our Building Surveying team if you wish to discuss in more detail how our services could help you.

Building Surveying Services – Asbestos

Team News

There has been 4 birthdays to celebrate in our Chester office in September. The month started with a special 30th birthday for our building surveyor Mark Percival. Directors Mark Hopley & Matt Pochin also celebrated their birthday’s, along with our industrial surveyor Tom Cooley. Many happy returns from Team LO!

TL – Mark Percival / TR – Mark Hopley / BL – Tom Cooley / BR – Matt Pochin

We would also like to congratulate our secretary Jessica who got married in Cyprus earlier this month! We wish the new Mr & Mrs Wall all the best for their future as husband and wife!

Congratulations to the new Mr & Mrs Wall