North West – Regional Property Adviser of the year
Entries:
King Sturge
The success of King Sturge in the North West has in the main been underpinned by:
*our having strength across a wide range of disciplines in both offices
*senior individuals with a breath of experience in both offices and in different markets
*a structure that allows a healthy level of local autonomy within a single partnership structure
Without question, the experience and seniority of individuals within the offices makes the team stand out from others in the region, for example, there are four National Group Heads of based in Manchester, namely in the Industrial, Business Rates, Plant and Machinery and Lease Consultancy teams.
This structure provides for very stable and successful teams in the Manchester office where our 100 staff are accumulated on a single floor plate which enables cross selling and a real team effort to come to the fore. One example of this team approach is the acquisition of 3 Hardman Street, Manchester the largest Investment acquisition of a single asset in the regions in 2010, where five teams assisted in the overall acquisition process to provide our clients with the comfort to proceed with the transaction.
The Liverpool office, which opened in 1998, expanded in terms of staff numbers and the range of services offered in 2010, with the introduction of Building Consultancy and Residential Valuation services increasing the staff compliment by 2 personnel.
Additions to our existing teams included the acquisition of a public sector specialist based in Manchester but with strong links to national local authorities. By adding two new members to our Building Consultancy team in Manchester we now posses the largest team of any North West multi-disciplinary practice, as well as the largest office and industrial agency teams in Manchester. The team approach has highlighted the benefit closer working practices and the office desk layout has been changed to support this approach further.
We have increased our profits by 80% in the last 12 months and our staffing levels have increased to meet the demands of the business.
Client testimonials
“ When we first viewed Ship Canal House just over two months ago we knew that we had to vacate our existing offices before the next quarter day. We also knew that this was a very demanding timescale. The contribution from King Sturge in helping us achieve this has been fantastic. All members of the King Sturge team have given the project absolute priority, being prepared to work through weekends and holidays. We now have a great new office in Manchester which will help us establish the HBJ Gateley Wareing brand in Manchester and the North West generally.”
Peter Davies, National Managing Partner of HBJ Gateley Wareing
“King Sturge’s office and industrial teams have acted on behalf of CBRE Investors for a number of years in respect of a portfolio throughout the North West ranging from city centre offices to new industrial warehouses. We have always found their understanding of the issues affecting each individual instruction coupled with extensive market knowledge across the region to be invaluable particularly during these difficult market conditions. The advice provided has enabled us to make strategic decisions on our properties which have consistently enhanced value & reduced voids within our schemes.”
Rob Trevor, CBRE Investors
DTZ
Introduction
A variety of new mandates and retention of key public and private sector clients during turbulent economic times has demonstrated that our multi-disciplinary team in the North West deserves its reputation for delivering exceptional client service.
Key Achievements
• Nationwide Free Schools initiative
DTZ was among the first firms to be appointed as an adviser on the coalition government’s high-profile nationwide Free Schools initiative. Our Corporate Real Estate Consulting experts in Manchester are supporting and advising Free School proposers as they acquire and adapt buildings for education use for this pioneering new scheme.
• Reviewing Nuclear New Build on Anglesey
DTZ was appointed to conduct a study of the accommodation facilities for construction workers associated with the proposed Wylfa Nuclear New Build power station on the Isle of Anglesey. The project involves a co-ordinated approach between our Development Consulting, Economics and Residential real estate teams in the North West.
• New facility for North West Ambulance Service
DTZ’s Manchester industrial team worked with the NWAS to find and secure a sale on a 16,000 sq ft unit for their new specialist ambulance station facility. The Building Consultancy team went on to design and implement specific improvements to the unit. The facility forms an integral part of a national programme currently being rolled out across 12 Ambulance Trusts throughout the country.
• Aberdeen Property Investors
The Manchester investment team advised Aberdeen Property Investors (API), on behalf of a pension fund client, on the purchase of Acresfield Manchester for £18.8m. The 51,685 sq ft landmark building is situated in the heart of the city centre and is multi-let to various office tenants and key retailers.
• Making York a Science City
A multidisciplinary team from the Manchester office is working with Science City York to develop a property strategy for the science and technology sector in the city. The strategy will help to capitalise on the future growth potential of the sector and identify the property needs associated with it, making York a world-class hub for science and technology.
• Manchester Christmas Markets
A study conducted by DTZ’s Economics team revealed that an estimated £50 million economic impact resulted from visitor and trader spend at the 2009 Christmas Markets in Manchester. We worked with client Manchester Markets to highlight the positive impact that the annual Manchester Christmas Markets have on the local economy.
Testimonials
“Manchester City Council would like to commend DTZ for all your efforts on the recent Christmas Market project. The executive management team noticed and appreciated your attention to detail and relentless determination to release a high quality report which really emphasized the importance of the Christmas Markets to Manchester. Please convey our thanks to the rest of the project team for all their efforts and hard work.”
Mr Lee Vallender, Planning team, Manchester City Council
“In our work with DTZ we have found them to be professional, pro-active and have always provided an effective and responsive service for the College. DTZ have always shown an understanding of the College’s needs, they have shown enthusiasm and commitment, they have demonstrated strong communication skills and their reputation is excellent. The College has developed excellent working relationships with DTZ and can rely on them to work effectively towards a common goal.”
Janet E Hewitt, Director of Facilities Management, Preston College
“DTZ’s office agency team combines the tenacious pursuit of occupiers whilst providing thoughtful and analytical advice to our overall strategy.”
Colin Forshaw, Head of Sales & Lettings, Bruntwood Estates
“HSE has used DTZ to handle their estate issued for over 10 years. WE have used them for various estate matters including acquisitions and disposals, sub lets, dilapidations, rent reviews, landlord issues and project management. We have used their expertise from a number of their offices depending on the location of the project being dealt with.”
“DTZ has always provided a professional service. They have been proactive and are aware of HSE’s business function and needs and actively strive to ensure that they receive value for money whilst fulfilling all their landlord and statutory obligations.”
Bernie McVerry, Estate Manager, HSE
Colliers International
2010 manchester office Highlights
• Logistics & Industrial – The Manchester team were involved in 3.4m sq ft of transactions in 2010. Notable deals were for JD Sports, Asda, Kimberly-Clark, Euro Car Parts and F&C. Already in 2011 we anticipate to have completed a further 1m sq ft of transactions by end of Q1 2011.
• Licensed & Leisure – The Manchester team sold 56 pubs with a total transactional value of £15m. There are a further 18 in solicitors hands already in 2011. The team was also heavily involved in the valuation and sale of 333 former Mitchells & Butlers pubs to Stonegate.
• Hotels – The Manchester team was involved in 40 separate hotel sales in 2010, totalling £70m. They also provided valuations on over £1.5bn of hotels. The Manchester Hotels team handled the sale of the Forestdale portfolio of 18 three star hotels to Akkeron Hotels.
• Locum (wholly owned Colliers International subsidiary) – The Manchester team helped secure over £45m of funding for client projects including theatres, museums, conference centres and visitor attractions.
• Investment – Colliers International were involved in over £110m of investment transactions in the North West in 2010 in all sectors.
• Rating – The Manchester team manages the Co-operative Group instruction and has secured over £15m of savings since being instructed only two years ago.
• Development Consultancy – The Manchester team acquired over 100 acres of strategic residential developments with a potential end value of £75m. Andy Delaney was appointed as a director to grow our consultancy provision to the public sector.
• Investment Property Management – Have collected 99% of all rents within 10 working days of the quarter day for the last 10 consecutive quarters.
Testimonials
“We always find we can rely on the team to meet all, and sometimes unrealistic, deadlines for the reporting we have set them, and find their advice to be extremely accurate which is so important in this current market.”
James Boshier | Head of Estate Development | Punch plc
“The most responsive and reliable accounting agent we have. High standard of work, always polite, pleasant to deal with.”
British Land
GVA
GVA’s Manchester and Liverpool offices provide a full multi-disciplinary service covering the entire North West, employing over 150 staff.
Key achievements include:-
• Manchester City Council – providing corporate property advice.
• Obtained full planning permission for Mersey Gateway – £430m scheme.
• Appointment as Investment Agent for Project Jessica.
• Advising on the procurement of a 4* hotel at one of Manchester’s Gateway sites – London Road Fire Station next to Piccadilly.
• Fund Manager for Greater Manchester Property Venture Fund, acquiring 12.5 acres of development land in Warrington, the Former Sorting Office in Stockport. Secured planning consent and provide development advice for 1 St Peter’s Square – 280,000 sq ft Grade A office development.
• Acquisition/investment sale of The Vault, Speke (617,000 sq ft warehouse) for B+M Retail (£34m).
• Providing Rating, Agency and Valuation advice to Greater Manchester Fire & Rescue Service.
• Launch of GVA Financial Consulting providing specialist/ bespoke financial advice to the public sector.
• Undertaking a building survey on Blackpool Tower.
• Acting as LPA Receiver at 5 shopping centres (887,000 sq ft) providing strategic asset management.
• Advised on over £300m of investment transactions.
Corporate Achievements
• Fees for the region in 2010 were £14.77m (EBITAB £2.98m).
• The office has seen stability; strategic recruitment has taken place in Property Management, Building Surveying and Valuation Services.
• Our agency teams transacted over 3.75m sq ft of office and industrial accommodation, and are currently marketing over 10m sq ft of stock.
Corporate / Social Responsibility
• 40 staff ran in the Manchester 10km Fun Run, raising sponsorship for Macmillan.
• 17 staff raised £10,000 for Mencap on the 3 Peaks Challenge.
• Long running support to the Booth Centre, Manchester Cathedral’s homeless charity.
Our aim is to provide clients with a service based on our core company values.
Client testimonials
Manchester City Council has worked with GVA through its framework on a wide range of projects for many years. These have ranges from advice on the Town Hall transformation project which includes major relocations, to town centre schemes and, more recently, professional and technical advice on a major CPO case. The relationship is one of partnership. GVA understand the needs of us a client extremely well and add value to projects, going beyond the commission to get the best outcome for Manchester.
Helen M Jones, Head of Corporate Property, Manchester City Council
In 2007 the Greater Manchester Pension Fund appointed GVA to manage its property development sub-fund known as the Greater Manchester Property Venture Fund (GMPVF) which is a unique mandate. The GVA remit is to identify property development investment opportunities within the North West with a particular focus on sites within the Greater Manchester conurbation with the intention that GMPVF will act as a direct developer of such projects.
GVA generate property development appraisals, negotiate acquisition terms, project manage property development and also perform the associated property letting, management and ultimate disposal of the investment. During their stewardship, GVA have identified many investment opportunities and have successfully concluded a number of development site acquisitions and joint venture arrangements.
Through improved promotional activities GVA have established good working relationships with many North West Local Authorities, the Regional Development Agency and the Homes & Communities Agency. GVA have also significantly raised the profile of GMPVF within the North West commercial property sector. They have provided sound commercial advice on numerous property investment opportunities and also in connection with property management issues and on the disposal of investments. As a consequence, all the GMPVF investments undertaken to date have achieved satisfactory outcomes.”
Ray Grainger, Tameside Metropolitan Borough Council
Drivers Jonas Deloitte
Over the last 12 months Drivers Jonas Deloitte in Manchester has continued to do what it has done in every year of its 18-year history in the region – be instrumental to its most significant property developments.
Each of our broad range of service lines, from project management and building consultancy, to planning economic research, have had a hand in the biggest schemes to have been built or to come forward in the past year.
The new £23 million development at Chetham’s School of Music; Ask’s Urmston town centre regeneration; the new Lancashire County Cricket Ground at Old Trafford; a multi-million pound nuclear research facility in West Cumbria, the regeneration of Manchester’s historic Royal Eye Hospital; the Manchester Metropolitan University’s new Art & Design Centre or its £120 million Birley Fields Campus; the new wing of the Museum of Science and Industry; and a study into the future of Liverpool City Centre’s retail development following its landmark Liverpool One scheme – which we originally advised on – all bear the hallmark of our work.
When the region’s most powerful forces in property – from Manchester and Liverpool City Councils, to ASK, Grosvenor, Peel or Land Securities – need advice, they talk to Drivers Jonas Deloitte.
We are a lead advisor to the North West’s most instrumental influencers and an essential element within any project team tasked with delivering a new landmark development.
We’ve introduced some of the team in the attached supporting document. It’s our pleasure to present the team and some of their work to you.
Client Commendations
Ed Burrows, Property Director, Peel Media
“The Drivers Jonas Deloitte team has that particular blend of enthusiasm and depth of knowledge which differentiates them.”
Michael Oglesby, Chairman, Bruntwood
“They offer a good all round practical service, understand the business, understand the priorities of a client, and they understand about quality, service, and working to time. They are hands-on, professional and good at customer service.”
Jane Archer, Manchester City Council – Chorlton District Centre
“Thanks for your hard work on the district centre plan which provides a solid framework for the future success of Chorlton. It’s been a pleasure to work with you.” Referring to Joanne Dennis-Jones and Jon Power.
Steve Turner, Commission for the New Economy
“I would like to thank you and your colleagues for all the work you have done so far in supporting us on Work Programme 2, which has proved invaluable.” Referring to Jon Lovell on the LCEA work.
Trevor Humphreys, University of Manchester
“I just wanted to drop you a quick note to offer you my thanks for your support this year but particular mention of your professionalism and enthusiasm you have shown over the time you have been engaged with the University. You have embraced the challenge of a heavy workload with great aplomb and I look forward to working with you in 2010 and beyond.” Referring to Steve Jordan.
Savills
Staff: 150, 62 fee earners
Turnover: £12 million
2010 marked Savills Manchester 14th Anniversary in the City and the office now employs 150 staff across all property advisory sectors. During 2010 the number of fee earners increased by 25% with a 23% increase in office turnover. To mark the growth of the business, Savills have agreed a move to new Grade A offices at Belvedere House, taking 13,770 sq ft of space.
Stuart Murray, Director of Industrial Agency Manchester comments “2010 has been an outstanding year for Savills in the North West. Once again we have seen a significant increase in the office turnover and have also recruited key staff to bolster our already strong offer.
Our occupational agency teams have transacted close to 4 million sq ft of office, industrial and retail space throughout the North West, together with this, our Investment Team have transacted investments totaling over £359.67million.
The new office space will bring all our staff together on one floor, which will allow even greater interaction and business development opportunities. Increasingly clients are taking advantage of Savills being able to offer a one stop property service with our Building Surveying, Planning, Agency, Valuation and L&T teams working closely together on a number of projects.
Our Management team now looks after over 24 million sqft of commercial space in the North West, with 3,821 tenants. Properties are managed on behalf of clients including RREEF. BA Pension, Fund, Boots, British Land, AVIVA and UBS Global Asset Management.
The Manchester office has produced regular bulletins on the City Centre office market together with the “Big Shed” industrial availability. The North West Valuation Team has continued its “Financing Property” presentations, which are highly regarded by the banking and property community.
During 2010 we have continued to strive to offer clients the highest level of service. Directors in all departments are involved with projects on a day to day basis ensuring we meet this target.
Supporting Information
“Savills have provided consistent, high quality marketing and leasing advice. This has resulted in them being able to secure a number of high quality tenants for our buildings despite difficult market conditions”.
Matthew Howard, Asset Manager, UBS
“Savills were quickly able to understand our accommodation needs and provide us with comprehensive, accurate advice. The acquisition process has been dealt with professionally and Savills have succeeded in meeting our objectives”.
Helen Ridge, Managing Partner, Pinsent Masons
“Savills Manchester team delivers results. Through their hard work, identification of the key issues and logical approach to leasing they consistently offer high quality advice”.
Paul Norman, Director, Liberty Properties plc
Cushman & Wakefield
Cushman & Wakefield’s Manchester team had some notable successes in what remained a very difficult property market in 2010.
C&W’s Retail Agency team are the retained agents on two of the UK’s largest retail Shopping Centres – Liverpool One and The Trafford Centre. During 2010 key lettings were concluded with M&S, Cult, H&M, Bank, Foot Asylum and Guess and many other retailers with total fees rising 40% on 2009.
The Asset Management team grew their business by 37% year on year and were instrumental in the winning of the UK Property management mandate for the Aviva Investors Property Trust.
Office Agency acquired 35,370 sq ft on behalf of Late Rooms in what was one of the largest deals of 2010 in the Manchester City Centre office market. Furthermore the team cross referred work with the client to the Lease Advisory and Project Management Teams as well as securing a significant referral to C&W in Asia. Acting on behalf of Bradford & Bingley the team completed the sale of their 119,000 sq ft former HQ building to J Sainsbury, quadrupling the client’s expectation of value in the process, and acquired 26,000 sq ft at BAM’s St Peters Square on behalf of BSkyB.
C&W’s Industrial Agency Team disposed of a 360,000 sq ft distribution facility in Chorley on behalf of Wolseley enabling the client to avoid both marketing voids and empty rates liability on the site.
57% of all of 2010 billings were to clients who used more than one department from the Manchester office – this strong ‘cross selling’ ethic provides the clients with a better informed, better organised cohesive service across all of their property requirements. During 2010 the team reaped the benefit of this client satisfaction by growing their business in a very difficult market.
“And thanks to both of you for all your support and advice over the past few months. I think we’ve got a great building with a great deal, and a fantastic opportunity to give the business a platform for further growth”
Graham McAnally – Late Rooms
“The importance for me on this project has been your understanding of the brief and the requirements and
then delivering a great solution within a robust timeframe.”
Ben Johnson, Head of Real Estate, BSkyB
CBRE
CBRE North West has continued to grow its market share across all sectors during 2010 and consistently posted EBITDA figures over 20 per cent.
The firm cemented its market-leading position in the region, with its knowledge and expertise unmatched. A key strength is CBRE’s ability to offer clients a complete spectrum of advice, setting the firm apart from other advisers.
The transactional teams were central in the region’s most crucial deals, securing significant job creation and stimulating investment. Notable deals include the lease of 132,000 sq ft to US manufacturer Medline, Asda’s acquisition of its 375,000 sq ft regional depot, and the acquisition by Climate Change Capital of 40 Spring Gardens for £45m.
Furthermore, testament to CBRE’s standing as the region’s most trusted adviser was its appointment to the North West Consortium, preferred bidder to deliver its proposals to the North West Evergreen Fund.
The Valuation Advisory team consistently pre-empted the market, developing outstanding expertise in areas of growing importance. One example of this is student housing, a sector in which CBRE is now recognised as a specialist. The team was involved in numerous large projects, such as the disposal of a 233-bed development in Lancaster with a value of £9.22m. The team was also instrumental in Stockport Council’s acquisition of Grand Central, securing the ongoing regeneration of the town.
CBRE’s property and asset management team continued its reign as the strongest in the North West, managing many of Manchester’s trophy buildings and Liverpool’s famous ‘three graces’. With numerous innovative customer service initiatives in place, the firm constantly increases its market share.
CBRE also saw a spate of high-level promotions to drive the business forward; Christine Hanson was promoted to Chair of CBRE for the North, with John Ogden made Managing Director of the Manchester office.
TESTIMONIALS
“In a major acquisition like 40 Spring Gardens, Manchester, Climate Change Property Fund needed an adviser who could think and act as a strategic partner – and CBRE more than delivered. The speed and quality of advice they gave us was second to none, and we were consistently impressed with the level of dialogue and customer service.
“The CBRE team demonstrated a deep understanding of our strategy and vision. They were fully committed to helping us achieve our objects and we are pleased to continue working with them in delivering low carbon returns.”
Esme Lowe
Partner and Co-Founder – Climate Change Property Fund
“MEPC Birchwood Park is a 123 acre 1.1m sq ft business park which is home to over 150 companies and 4,500 staff. CBRE have been the Managing Agent of the estate since its purchase by MEPC in 1998. CBRE are considered an important and integral part of our team and provide a range property advice far beyond conventional building management. Over the past few years there has been a tangible strengthening of their business in the North West, which has enabled them to make an enhanced contribution to our business. We have no hesitation in recommending them for this award.”
Jonathan Walsh
Managing Director – MEPC Birchwood Park
Leasing Director – MEPC
Knight Frank
Knight Frank (KF) has had a very busy year across its offices in Manchester and Liverpool, which together cover the entire North West of England.
Some highlights include; the investment teams disposal of the North West Hub office building to LIM for £36m – the largest ever office investment transaction in Warrington. Knight Frank also recently completed the £13.5m acquisition of the Manchester International Office Centre on behalf of Infinity LLP. The transaction was the largest South Manchester office investment transaction since 2007, and the team has since been retained by Infinity to market the accommodation. Other high-profile investment sales have been completed over the past year on behalf of; PRUPIM, Taylor Wimpey, Rutley, Prestigic, Rockspring and Royal Liver.
Knight Frank’s Valuations team has also had a busy year, carrying out over £1.6bn worth of property valuations in the last 12 months, across a range of sectors. These include; office buildings, retail parks, mixed-use developments, healthcare facilities and even marinas. Major clients include Bruntwood, Royal Bank of Scotland, HSBC, Santander, Handlesbanken, The Nationwide, The Co-Operative Bank, B&E Boys, Pochins, Benmore and Adhan Group. The team has also provided Expert Witness reports to the courts on a number of properties.
The office agency team continues to advise on key developments across the North West, including; Daresbury Park, Gemini8, Liberty Property Trust, Countryside as well as 100 and 53 King Street in Manchester City Centre. The Industrial and logistics team has also had and an excellent year, winning a range of key instructions from the likes of LIM, PRUPIM and Speedy Hire.
The rating team has continued to grow, building on their existing client base of private sector clients, including; St Modwen, Pochins, Spencers and Bruntwood, and recently adding MoneySupermarket.com as a new client. The year has seen the ratings team carve out a specialism in the education sector, with recent instructions to advise on 11 Colleges across North West.
