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Agency Review

Written by: Richard Roe on Thursday 03/01/2013

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The Eddisons agency team has continued to build on their success of 2011 with another very strong performance in 2012.

Over the last 12 months we have cemented our position as a leading firm of Chartered Surveyors and Commercial Property Consultants with over 1.5 million square feet of commercial transactions completed by our Yorkshire offices alone. Added to our Manchester, London and Birmingham offering this exemplifies our expertise on both a national and regional level.

To support this position, at the start of 2012 we invested in our business by undertaking are-brand and launch of a new website. The rebrand, which was well received by clients and the wider public has helped to make the Eddisons brand stand out from our competitors, ensuring that we keep receiving high profile instructions and importantly ensure that the level of enquiries we receive about the properties we are marketing remains high.

The new website has provided an important lift in the volume of traffic we receive on a monthly basis with an average figure of over 60,000 people now visiting each month. This increased traffic has increased the level of PDF downloads we receive on our site with an average of over 8,000 sets downloaded each month, resulting in a large number of enquiries received by our agency team. Further development of our mobile site as detailed on page 3 will only help to enhance these figures.

In addition to the instructions from our many retained property company clients, we have also focused on the agency needs of our corporate clients who include EMIS, Clariant, AIREA Plc, John Menzies Plc and Rank Group Plc amongst others.

During 2012, we have proudly been involved with some significant transactions including the sale of a new build Majestic Wine Warehouse investment which sold for a yield of 6.4%.  Considerable interest was generated demonstrating the appetite for secure long term investments.

Three Sheffield student blocks were also sold off yields of circa 7% producing a total in excess of £8.5M for our clients.

We have recently sold Abtech House on Park Row in Leeds. This prime city centre office building was sold off an asking price of £1.1m and was part income producing and part vacant. The property presented genuine asset management opportunities where added value was part of the attraction.

In Bradford Joseph Brennan House an iconic building on Sunbridge Road has been sold to London based Trivelles Hotels and Resorts off an asking price of £1.2m. It was previously let to Provident Financial and the NHS and the building has received planning permission for conversion into student accommodation.
Looking forward to 2013, we are delighted to announce that instructions have been secured from some key National clients to dispose of stock valued at approaching £15m. These new instructions include town centre bank investments, strategically located industrial units, and prime office properties.

Receivers at CBRE in London have instructed us to market Thomas Duggan House and the Wellcroft Centre, both of which are located in the heart of Shipley town centre.  These investment opportunities provide investors with secure income against ‘blue chip’ tenants and offer excellent asset management opportunities.  The two buildings are offered to the market with guides of £1.45m and £695,000 respectively.

We have also been instructed by VTL Holdings to bring to the market a high quality industrial unit strategically located on Stubs Beck Lane within the West 26 Industrial Estate, adjacent to the M62 and M606 interchange. The building provides a modern, 27,000 sq ft lofty warehouse, along with high quality air conditioned offices.

John Menzies Plc has also instructed us to market a 30,194 sq ft distribution warehouse strategically located on the Euroway industrial estate just off the M606.  A private client has instructed us to market a modern detached industrial property extending to 14,670 sq ft in one of Yorkshires most prime industrial locations, Wakefield Europort at junction 31 of the M62.

The above new instructions are just a small sample of the continuing instructions that we are winning and transacting.

Should you be considering putting your property on the market, then our Agency team would be delighted to speak further with you, and are well placed to ensure a successful conclusion is reached at the earliest possible opportunity. To discuss your requirements, please call 0333 6000 120 or email info@eddisons.com

Written by: Richard Roe on Thursday 03/01/2013

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About the author

Richard joined Eddisons in 2003 and has been the Managing Partner since 2012, a role that sees him lead the strategic direction and development of the business under the ownership of Begbies Traynor Group plc. Richard has been instrumental in the growth of the business which has seen turnover more than double since 2008.

In addition to his role as Managing Partner, Richard continues to play a vital role with key clients, particularly in the banking sector, where he is a trusted adviser to major high street clearing banks. Over the last eight years, Richard has been appointed LPA Receiver on many high profile properties and assists in the recovery of distressed loan portfolios.

Prior to joining Eddisons, Richard worked in the real estate division of a 'Big Four' firm where his notable assignments included the privatisation of Saudi Telecom for flotation on the New York Stock Exchange.

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