Henrik Court’s Post

Latest property and construction news…..   78-90 Colmore Row was built in 1917 and subject to planning permission is set to be extended with a single roof-top office space storey which will add 6k sq.ft. to the building. The building will also undergo a refurbishment to improve its energy efficiency and accessibility. A new business lounge, cycle storage and shower facilities will also feature.   Permission has been granted to build a 37-storey residential block on Hagley Road as part of the New Garden Square development in Edgbaston. 462 apartments, commercial and retail space, co-working space, meetings rooms and a gym all feature in the project.   Residents and businesses are being encouraged to take the opportunity to add their thoughts (online) to the proposed multi-million redevelopment of Mell Square in Solihull. The council has appointed Muse Places Ltd as the preferred development partner for the scheme.   According to Birmingham City Council, the delayed box-park big-screen in Perry Barr will be built. The park was originally planned to open in 2022 when the city hosted the Commonwealth Games. The operator has started to move containers on to the site.   A net balance of 30% of property professionals expect house sales to rise over the next few months according to the Royal Institute of Chartered Surveyors. 45% expect to see an increase over the next 12 months.   Birmingham-based property services company Centrick has been appointed by Munich-based AM Alpha to consult on a 220 to rent apartment scheme in Alcester Street, Digbeth. According to UK Finance, 980 homes were repossessed in Q2 of 2024. This was up 8% on the previous quarter and 31% up compared to the same period last year.   #property #construction #housing #offices Photograph: The Belfry Hotel and Resort - The new Masters Suite and additional bedrooms, are under construction.

Cited Property are instructed to sell the House of Fraser in Darlington. Darlington is a historic and industrial market town in the County of Durham, England. Renowned for its engineering industries, award-winning theatre and arts venues.     The subject property is situated in a commanding, corner position at the junction of Blackwellgate and High Row at the southern end of the town’s main retailing area. Thanks to its substantial footprint, the property also benefits from frontages on to Blackwellgate and Mechanics Yard. It is located less than 200 metres from the Cornmill Shopping Centre which is the town’s main shopping destination. Other nearby occupiers include Boyes, Greggs, Caffe Nero and the popular Darlington Covered Market. The property is formed by several buildings that have been amalgamated to provide the current arrangement. The department store totals approximately 145,556 sq ft (GIA) and is arranged over lower ground, ground and four upper floors. The subject property is on a licence to occupy to House of Fraser. The licence was signed in 2021 by SDI (PROPCO 37) Limited. House of Fraser are currently trading from the property by way of a license to occupy. The license is determinable by both landlord and licensee at any point subject to not less than 3 months’ notice. The subject property is a local and cultural landmark that could be suited to an array of alternative uses, subject to planning and feasibility. We believe options include: • New Lease – either with the existing or an alternative occupier on the current demise. • Mixed-Use Redevelopment – we believe the ground floor could be reconfigured to provide a combination of high-quality retail and leisure units. The upper parts could then be repurposed for either residential, office or hotel use. • Leisure – there are numerous requirements for large town centre space from indoor entertainment and experiential leisure occupiers. • Cultural, Health & Community – working alongside the local authority to capitalise on the advancing regeneration of Darlington town centre and repurposing one of the town’s most iconic buildings to a community use. We are instructed to seek offers in excess of £1,000,000, subject to contract and exclusive of VAT. A purchase at this level would reflect a capital value per sq ft of just £6.87. For further information, please get in contact with Benjamin Wood or Bradley Maher. #darlington #retail #sale #assetmanagement #durham #property #commerical #opportunity #getintouch

Bristol's inner city industrial and warehousing stock is evolving. It's not ideal but it is a necessity. Bristol City Council estimates a need for 3,400 new dwellings per annum for the next 10 years. As a result, much of Bristol's industrial buildings that have been home to local businesses for 60+ years are outlined for redevelopment. The consequent challenge/opportunity for surveyors in the commercial space is satisfying an ever growing demand for small warehousing units in Bristol's inner city. Savills have been working with landowners, developers, and businesses with lettable space; Meanwhile Creative; Rocket Padel; Galliard Homes; Dandara; The Hill Group, to name a few, to provide an immediate solution / a stop gap / a temporary home, so that these local businesses can continue to contribute to the City. Over the past 18 months, we have procured 75,000 sq ft of warehouse and open storage space agreements for these businesses, plus another 50,000 sq ft to be finalised soon. More updates to follow.. If you are a landlord or developer with vacant space, a tenant or business with excess land, or a business with an immediate requirement - get in touch as we'd be delighted to help. We are also working on more permanent solutions with key developers in this space, Cubex and GLENMORE DEVELOPMENTS LIMITED. Keen to hear also on purchase opportunities for land or built stock... as is every other man and his pooch. jack.davies@savills.com 07901 853 503 #warehousetolet #bristolbusiness #cityindustrial #residentialdevelopment

Prime Collingwood site for sale - Cushman & Wakefield Cushman & Wakefield experts Daniel Wolman, Raphael Favas, Hamish Burgess and Leon Ma have been appointed to market 53-57 Cambridge Street, Collingwood for sale. Following a well publicised supply/demand imbalance for housing in one of Melbourne’s inner-city pockets is reaping the benefits as developer demand intensifies around the gentrified areas of Collingwood and Fitzroy and East Melbourne. Historically home to long standing rag traders and inner city warehouses, the precinct is now having this landscape redefined with a string of high end residential, hotel, office and BTR developments filling the skyline. Daniel Wolman, Cushman & Wakefield’s International Director & Co-Head Investment Sales, VIC, commented on the demand for property within the precinct “This area is undergoing significant growth and demand, bolstered by a number of highly successful developments across several asset classes including residential, office, hotel and living sectors. “The dynamic precinct has fostered the development of a number of differing uses creating a vibrant and thriving inner-city precinct that is well activated and sought after.” Raphael Favas, Cushman and Wakefield’s Manager of Investment Sales added “Given the expansive footprint, abundance of natural light from the triple street frontages and 10 on site car parks, we expect this opportunity to catch the attention of not just developers but active owner occupier mandates on our books too.” Read more on COMMO - https://lnkd.in/g7X4Yx66 Cushman & Wakefield Daniel Wolman Raphael Favas Hamish Burgess Leon Ma Ariel Lu Brittany Delahoy Cameron Zamora Jeff Ha Joe Kairouz Josh Andrade Kaylee Ke Marcus Neill Oliver Hay Valerie Tang #collingwoodinvestment #melbre #cushmanandwakefield #collingwoodopportunity #forsale #primelocation #melbre #melbournerealestate #cushwake

BEST OFFERS INVITED: MIXED-USE RESIDENTIAL LED DEVELOPMENT OPPORTUNITY Vandermolen Real Estate Real Estate are inviting offers on Wednesday 5th June at 16.00pm for the freehold interest in 71-73 Caversham Road, Reading, RG1. A residential development opportunity for 29 apartments in Reading, Berkshire. Planning permission (Ref: PP: 20922) was granted in March 2024 for the “partial demolition of former retail warehouse and the erection of a mixed-use building comprising 29 residential units, retail floorspace (Use Class E(a)) at ground floor and associated car parking, cycle parking and landscaping.” The proposed residential accommodation will be arranged as 22 x 1 beds, 6 x 2 beds and 1 x 3 bed offering a total of 1,694.7 sq.m (18,220 sq.ft) of net saleable space, the proposed ground floor commercial area will measure 296.98 sq.m (3,197 sq.ft) GIA. Located 600 metres from Reading Railway Station. For Sale Freehold with Vacant Possession. For more information please contact me or any of the team; Jamie Weiner, Jonathan Vandermolen, Zach Harris MRICS or Sam Phillips #realestate #team #developmentopportunity #planning #opportunity #land #development #investinginrealestate #invest #development #developer #landforsale #investinginrealestate #reading #site #sitewithplanning #landwithplanning

BEST OFFERS INVITED: MIXED-USE RESIDENTIAL LED DEVELOPMENT OPPORTUNITY Vandermolen Real Estate are inviting offers on Wednesday 5th June at 16.00pm for the freehold interest in 71-73 Caversham Road, Reading, RG1. A residential development opportunity for 29 apartments in Reading, Berkshire. Planning permission (Ref: PP: 20922) was granted in March 2024 for the “partial demolition of former retail warehouse and the erection of a mixed-use building comprising 29 residential units, retail floorspace (Use Class E(a)) at ground floor and associated car parking, cycle parking and landscaping.” The proposed residential accommodation will be arranged as 22 x 1 beds, 6 x 2 beds and 1 x 3 bed offering a total of 1,694.7 sq.m (18,220 sq.ft) of net saleable space, the proposed ground floor commercial area will measure 296.98 sq.m (3,197 sq.ft) GIA. Located 600 metres from Reading Railway Station. For Sale Freehold with Vacant Possession. For more information please contact me or any of the team; Zach Harris MRICS Jamie Weiner Chris Rook Sam Phillips #realestate #team #developmentopportunity #planning #opportunity #land #development #investinginrealestate #invest #development #developer #landforsale #investinginrealestate #reading #site #sitewithplanning #landwithplanning

Property and construction news…..   Proposals for 1,300 apartments and commercial space around the River Rea and to the south of Moseley Street, have been approved. The scheme will open up the largely hidden river with new pedestrian routes and public spaces. The developers are Dandara Living.    A building that was once home to one of the world’s largest glass makers Chances, has been placed on the Victorian Society’s endangered buildings list. Located in Smethwick, Birmingham, the company used to employ 3.5k people. Glass was supplied across the world including the White House in the USA, and the Houses of Parliament in London to name just two examples. It is hoped the building will be restored providing houses, business space and a heritage centre - a capital grant application has been submitted to West Midlands Combined Authority.   According to representatives from Knight Frank, Savills, and St Mowden Homes, the best places to purchase a home in the Midlands is Droitwich, Birmingham’s Gun Quarter, Jewellery Quarter, Lichfield, Longbridge, Long Marston, Solihull, Sutton Coldfield and Worcester.   According to Nationwide, house prices increased by 0.4%. The average UK house price is £264,249 (April was £261,962).   According to GetAgent - an estate agent comparison site, Birmingham is currently the third hardest place to sell a house (Leicester and London were ranked one and two). At the opposite end of the scale Sheffield has the most active market. The company’s research findings stated that only 14.3% of properties in England found a buyer within 30 days.   Wavensmere Homes has shared proposals for its £150m Canalside South development in Wolverhampton. Subject to planning consent, 520 homes will be constructed with a range of commercial amenities in dis-used railway arches. 100 new jobs will be created and a public consultation runs until 28 June.   #property #construction #business #housing 

Happy Friday!!😀 GOT THE "FRONT ROW"?🧐 Author | C. Knighten Source | Al.com If you have traveled downtown in the last few months you would have noticed the fencing around a corner lot between Clinton Ave and Monroe Street, next door to the Von Braun Civic Center. Awarded over 2 1/2 years ago, this the mixed-use project was just kicked off in May. At this point in time, the different stages of development have been pushed out, as Phase II will not start until November of 2029 and take up to 3 years to complete. Phase I had a start date of May 1, 2024, and is now under progress. But with a 4-year plan for completion, we can expect to see construction over the next 7 plus years. On the positive side, this mixed-use development will bring a minimum of 500 apartment units, 36,000 square feet of restaurant/retail use and at least 35,000 feet of office space. With the completion of Phase I, there will be two buildings facing Clinton Ave which will deliver both apartment and retail spaces to liven up our downtown. As promised, the schematics of this development, with additional parking and green space, will indeed be 'transformational'! #deancommercialrealestate #commercialrealestate #propertymanagement #investors #retail #medicaloffices #leases #propertyinvestors #warehouses #huntsville #madison #athens

Michael Burry: "If you are not using leverage, you are not trying" Somewhat in contrast to his quote, Burry typically uses put options - CDS in 2008 when he bet against the housing market. Puts are a form of leverage but they do not involve high debt levels typically associated with highly levered positions. Managing debt levels and its aspects is vital for our business at SAV, so working with lenders who understand our risk-taking approach and support our growth is essential for us, especially during volatile times. (Not sure what Michael Burry has to do with SAV but I just thought he is fun to mention!) We are pleased to share that we have secured another development facility from Coutts for our Bedford Place scheme. Coutts has been our partner for over five years across multiple schemes and sectors - we value their approach, which aligns with our philosophy when it comes to leverage and risk taking. I want to thank our team and partners for their support to get this loan over the line: Coutts – Mehmet Hassan and Shona Pushpaharan Addleshaw Goddard – Laura Uberoi Freeths - Mathew Stephens DECIMUS FEARON LLP – Wei Jien Yeow   The Grade II listed town house hotel will deliver 43 new rooms, with a bespoke bar, garden entertainment space and luxurious interior design inspired by the building’s 250 year history. Despite the significant limitations of the building’s historic fabric, we have prioritised sustainability by incorporating solar panels, air source heat pumps and a heat recovery system, and are currently on track to achieve BREEAM Excellent. We look forward to inviting you to an opening once the hotel is operational next year! #RealEstate #Development #Investment     

Prime industrial property in Sydney Alexandria for sale - Colliers and Cushman & Wakefield Colliers experts Trent Gallagher and Michael Crombie in conjunction with Cushman & Wakefield expert Tim Cassidy market a freehold industrial building at 5-7 Bourke Road Alexandria for sale. Colliers National Director Trent Gallagher said, "This property offers an astute owner-occupier the chance to acquire a freehold asset in Australia's strongest warehousing market. The site is also ideal for redevelopment, with zoning that allows for a maximum height limit of 45 metres. Its proximity to Green Square train station is another significant advantage." Michael Crombie, Colliers National Director, added, "It's rare to find such prime boutique buildings for sale so close to Green Square on a busy road." Tim Cassidy , Director at Cushman & Wakefield, noted, "The asset is ideally located in the vibrant inner-city suburb of Alexandria, approximately 5.7 kilometres south of the Sydney CBD and 200 meters from Green Square Station and Town Centre. “ Read more on The Industrialist - https://lnkd.in/g22XuW9F Gavin Bishop Taylor Bass Nick Evans Jessica Evans Charlie Woodley Stephen Ryan Ned Walmsley Anthony Ongarello Joel Cattell Paul McGlynn David Hall Gary Hyland Nick Goodridge Jay Nash David Norman #sydneyrealestate #industrialrealestate #industrialinvestment #sydneyinvestment #sydre #sydneywarehouse