East Midlands Estates Gazette Regional Awards 2011
Entries:
Innes England
Active agent
In 2010, Innes England completed the highest number of deals throughout the region and won the 2010 EGi Most Active Agent for the East Midlands for the fourth consecutive year.
The award underlines the quality and consistency of our service to clients. Building on this exceptional accolade we are continuing to promote the East Midlands by working with partners and developers encouraging inward investment to the area.
Innes England experts squeeze every drop of value from client property portfolios. In 2010 our asset management team acted for 130 clients collecting £18m in rent, £3.85m in service charges and looking after 1367 tenants.
Deals done
Innes England have secured a series of high profile lettings and sales to support business in the East Midlands over the last 12 months.
Challenge met to house council staff during refurb
Derby City Council signed up to a new lease for 100,000 sq ft including 45,000 sq ft of additional office space at Heritage Gate – the largest office deal over the last 12 months in Derby.
Innes England secured the deal, working closely with Derby City Council and acting for Aviva Life and Pensions which owns Heritage Gate.
This deal has enabled the temporary move of all employees while the council house undergoes a programme of refurbishment helping to kick start regeneration of the Friar Gate area.
£Multi-million RAF Newton redevelopment
Innes England have been working with their client Newton Nottingham on the long term property strategy following the acquisition of the high profile former RAF Newton site near Nottingham.
In 2010, we secured the sale of the first 14 acre phase of the residential element of the 228-acre site to Bellway Homes and David Wilson Homes to provide 165 houses. The site will provide much-needed low-cost homes and create jobs and business opportunities.
Learndirect boosts the nation’s skills from Colton Square
Acting for developer Goodman, Innes England completed the largest office letting in Leicester of 25,000 sq ft to national training organisation learndirect.
The new learner service centre at the Colton Square development is at the heart of learndirect’s strategy to enable more people throughout the country access learning.
Regional firm contributing to the international stage
In support of raising the profile of the East Midlands and attracting inward investment to the region, Innes England joined delegates from Nottingham City Council and local private sector representatives in Shanghai to visit the £35.5m World Expo.
We continue to raise the profile of the East Midlands by leading Team Nottingham and sponsoring the Derby team at MIPIM in March 2011.
Market Insite
The Innes England Market Insite report has been monitoring the regional property market over the past decade – providing individual focuses on Nottingham, Derby and Leicester.
The latest research was launched at a series of high profile events in Derby, Leicester and Nottingham in February 2011 attracting over 300 people – further emphasising Innes Englands’ reputation for local market knowledge and supporting the profile of the East Midlands commercial property sector.
FHP
Why FHP?
We are proud to be the current holders of the title, having previously won the Award for Midlands Property Advisors of the Year in 2006 and 2007.
We regard the last 12 months as possibly the most successful that FHP have achieved since we were formed in 1990.
1. Financial Performance;
The 12 months to 31st May 2010 turnover was £3,389,000, returning profit of approx £1,100,000.
As at 1st March 2011 our turnover is £3,156,000. Our projections currently indicate that we will return turnover of approximately £4,200,000 – an uplift of approx 24%.
2. Key Achievements 2010 / 2011;
Industrial / Distribution;
We transacted more than 2.7 million ft² of industrial / distribution space including:-
? 530,000ft² letting (Joint Agents) to ASOS at Crossflow 530 Barnsley
? 920,000ft² prelet (Joint Agents) to Marks and Spencers at EMDC, Junction 24, M1
Offices;
We have transacted more than 450,000ft² of office accommodation.
Retail;
We advise Westfield on their Nottingham and Derby Shopping Centres.
We have completed 40 retail deals in Derby and more than 70 deals in Central Nottingham.
We have recently been appointed by PPG on the Four Seasons Centre, Mansfield and by Helical on the Idlewells Centre, Sutton in Ashfield.
3. What helps FHP stand out in the market?
Clear, open and practical professional advice is complemented by contemporary traditional and digital marketing.
We are currently investing £40,000 in a new state of the art website which will embrace unique marketing functions.
4. What steps / new approaches have we taken?
We have rebranded from Fisher Hargreaves Proctor to FHP.
We are promoting succession within the business – we believe our staff are passionate about FHP – please see testimonials attached.
5. Employment numbers over past 12 months;
In March 2010 FHP had 55 employees – we now employ 60 people.
6. Client Testimonials;
Clowes Group;
“FHP currently act as Letting Agents and Property Advisors on a variety of the Groups Property Portfolios, notably:-
1. A 900,000ft² prelet is under construction at EMDC, Junction 24
2. Castlewood, Junction 28 has been selected as the preferred site for a 475,000ft² distribution centre
I understand that FHP are applying to be nominated for the EG Award East Midlands Property Advisor of the Year 2011.
I work closely with FHP and in particular with John Proctor. Our relationship is built upon trust as we know that FHP are forward thinking and highly regarded in the market and as a consequence they both protect and promote our interests.
I am pleased to support FHP’s application”.
Charles Clowes, Chairman
Invista Real Estate;
FHP have acted for Invista Real Estate for more than five years, providing advice on agency and professional matters on their managed property portfolio within the East Midlands Region.
“When we need advice within the East Midlands region we have no hesitation in ringing FHP as they have dedicated teams who have in depth knowledge and we know that in turning to FHP we will get a realistic and professional response very quickly”.
Danny Egan
Ian Shorrock – Westfield Shopping Centres;
“Westfield have been working with FHP for 8 years now, and they currently handle the leasing of both Westfield Derby and The Broadmarsh Centre, Nottingham on our behalf. Their proactive and creative approach to leasing has enabled us to forge a strong partnership and deliver some key deals throughout this period, especially recently, during challenging market conditions. I have no hesitation in supporting their nomination for East Midlands Property advisor of the year, because in my view, their knowledge and their results demonstrate that they are the market leaders in the region”
Ian Shorrock
FHP Testimonials;
Tim Gilbertson, Partner – Office and Industrial Department;
FHP 21 years not out.
As FHP clock up 21 years I enter my eleventh. From Junior Surveyor, to Associate, to Partner.
From selling 2,000ft² industrial units in Bulwell to 264,000ft² sheds at Junction 28 of the M1.
From office lettings on second floor space over shops to advising developers on the development of new business parks.
From acquiring a bookies in Lenton to acquiring 100,000ft² for a multi-national company.
From being motivated by and learning from experienced seniors to motivating, but still learning from inexperienced juniors.
From working hard in a good market and earning great fees, to working hard in a tough market and …………………. Well lets not go there!
FHP – it’s been here for 21 years, I’ve been here for 10 years and the service we provide, the care we take of our clients and the ability to expand personal boundaries grows year after year after year.
Philippa Dobinson – Rating Department;
“This year has seen the FHP Rating team successfully manage, implement and build upon previous accomplishments in the field of empty rate strategy advising clients on best methods and practice. Advising one client in respect of a substantial empty office building resulted in an unexpected refund of circa £155,000 that delighted our client. Saving rates is not just about reducing Rateable Values, it’s about more than that. We pride ourselves on being at the cutting edge of our specialist field and this year, by thinking ‘outside the box’ have provided our clients with practical solutions to problem properties, seeing the process through from beginning to end. It has been a testing year given the economic climate with increased numbers of retail properties in particular. Our hard work and persistence has limited the financial impact of these increased rates burdens and savings for one client have amounted to £0.5m over the last 12 months. I believe our dynamic approach distinguishes us from the competition and should be recognised this year.”
David Powell – Property Management Associate Surveyor;
In what are still extremely challenging times FHP have continued to provide honest advice and have been market leaders, highlighted by a number trophy deals and surveyor fee billing, excluding equity partners, being approximately 20% up for the 9 months to February 2011 compared to the corresponding period last year. They have also invested in talent with the hiring of a number of new surveying and administrative staff. Whilst also promoting staff currently within FHP, with my own personal highlights being made Associate Partner and on course to increase my personal fee billing by approximately 24%.
James Hartley – Office and Industrial Surveyor;
2010 has been a challenge for everyone in property – at FHP we work as closely and proactively as possible with each and every client. My main focus has been within the Nottingham Office market and I am proud to say that due to our proactive approach and flexible thinking we have been able to transact over 450,0000 sqft of offices deals and help turn the perceived burdens into assets and successful ones at that. Focusing on my input at No.1 Nottingham Science Park FHP let 30,000 sqft to 4 new tenants and over 16,000 sqft within the Atrium to 4 occupiers.
Our approach is not just about lettings and sales though in order to improve the performance of our clients assets we will look at how every element of FHP can help – be it management, rates or simply a fresh eye on a scheme. In my opinion our approach can be summed up by one clients comment where we have recently been appointed as joint agents on an office park “The whole team performance has brought a breath of fresh air to the office park and I would like to thank everyone at FHP for that ” Chris Wheatcroft (Wheatcroft Properties Limited). Here FHP have let over 12,000 sqft of space in 2010, made extensive rates saving, advised on the reconfiguration of the offices and help source and set up new high speed broadband connections for the park which has drastically improved its appeal to tenants and long term performance of the offices.
Laura West – Office and Industrial Surveyor;
2010 personally has been a year of great achievements and probably the most memorable to date. Some of the many events include joining FHP in May and passing my Assessment of Professional Conduct (APC) to be elected a Member of the Royal Institution of Chartered Surveyors (RICS).
My role at FHP is within the Office and Industrial Department, where my principal area of work is handling the acquisitions and disposals of commercial property within the North Nottingham region which includes areas such as Mansfield, Worksop and Newark. I have also been known to enter the Lincolnshire market from time to time.
Whilst the market is still challenging, I have seen results where stock is presented as a blank canvas, ready for immediate occupation. Flexibility, incentives and good Landlord and tenant relationships are key ingredients to help minimise the risk that potential occupiers sign up at other competing schemes. The two schemes where I feel I have added significant value are the Langham Park Berristow Lane industrial/warehouse development located opposite McArthur Glen retail outlet, immediately off the A38 at J28 of the M1. At the start of 2010 we had 125,000 sq ft of vacant space, by the end of the year the site was fully occupied. The success was due to hard work and determination, combined with the product Langham Parks ‘can do’ attitude and willingness to sit down and discuss any issues/requirements large or small has set them apart from many landlords in this increasingly difficult market.
We have also achieved similar success at the development located off Hamilton Road in Sutton in Ashfield which briefly comprises cost effective warehousing space with excellent eaves height. This scheme has recently let a further 60,000 sq ft and there is now strong interest in the remaining 30,000 sq ft. We are confident it won’t be long until 100% occupancy is also achieved.
I am excited about the year ahead and the opportunity of developing my future career with FHP who continue to have an active and progressive agency team as well as a major presence in the East Midlands. Whilst the market remains difficult I believe I have joined the right team that will make for a interesting and very rewarding future.
Mark Tomlinson – Office and Industrial Surveyor;
I joined FHP in August 2010 having worked for 2 years at another east midlands property firm. I had noted excellent levels of activity being achieved by FHP and jumped at the chance to come aboard.
Since joining I have predominantly been involved in providing advice on marketing, lettings and sales of a number of office and industrial properties around the city, advising clients in what is still a very tough market place. Below are just a few examples of where I have added value:-
Robin Hood Industrial Estate, Nottingham
We were instructed on this estate of sixteen 4,000 sq ft industrial units 9 months ago when two units had been vacated. The units had been on the market with another agent prior to FHP being instructed, once brought into the process I advised the client on the required refurbishment works in order to present them correctly to the market and as a result I let both units within 6 months of the refurbishment works completing.
Enterprise Park, Hucknall, Nottingham
This industrial estate, comprising thirty five starter units, had been one of those hit hard by the recession. Many of the units had fallen vacant towards the end of 2008, leaving 22 units vacant.
Since joining I have advised the client on a change in tactics in order to reduce the voids on the estate. A new targeting marketing strategy, drafting standard tenancy agreements and an element of refurbishment of the vacant units has resulted in success. I have achieved 4 deals with a further 5 in the pipeline and managed to retain 2 tenants with lease renewals.
Mayfair Court
When I first joined FHP this scheme of 5 self contained office units had one of five units let. I advised on a staged refurbishment of the units and, through targeted local marketing, achieved 2 deals in 3 months. We are now refurbishing the remaining units and hope to achieve 100% occupancy in 2011.
I am currently progressing well through the established FHP APC training process and plan to sit my RICS Assessment of Professional Competence later this year.
Jonathan Sayer – Office and Industrial Surveyor;
“In what has been a challenging 12 months FHP continues to set a standard for providing practical and proactive advice to clients and customers alike. Through our commitment to the service we provide, we continue to shape a working environment that fosters talent whilst investing in the future of the practice to the benefit of our clients and team members alike. The unique dynamic within the firm and individual business units means that there are no boundaries to what we can achieve, either individually or as a firm.
Through the hard work of everyone at FHP the highlights for the firm include the 900,000ft² warehouse letting at EMDC and 40 retail lets within Derby City Centre. On a personal level, I am on target to improve my fee billing by 75% on last year, including a total of 70,000ft² of office and industrial space that have been put under offer within the last 6 weeks. I am looking forward to the challenges and opportunities that will present themselves in 2011 and how we can grow both as individuals and as a firm. ”
George Dunnicliff – Office and Industrial Surveyor;
“After completing my degree returning to FHP was always an easy decision following a previous year placement. Based in the Derby office where I have now been for just over a year I have been predominantly based in the office, industrial and retail agency teams. Over the past twelve months or so I believe I have grown as an individual in the property profession which has been backed by the support and direction of FHP.
The flexibility at FHP provides you with the autonomy to run your day to day life allowing you to be your own character and person, together with the balance of staff working in coherence with each other to achieve the ultimate goals and aspirations of the company.
The opportunities at FHP are vast and the support on offer behind the scenes provides you with no boundaries as to what we can archive on both an individual and business prospective.
As printed in the press over the last twelve months we are still experiencing difficult times in the property profession however I believe FHP have reacted to the market conditions and as such have been at the forefront of providing honest advice to clients and being part of key deals within the East Midlands. As a consequence I believe we are performing well within the market and it has been a pleasure to be a part of the onward development of FHP.
I am looking forward to developing further as an individual and improving the success of FHP into 2011 and beyond”.
Adam Wilson – Associate Partner;
“From a personal perspective the last 12 months have been very rewarding as I have enjoyed success in a number of areas. I have managed to build new relationships within the commercial property teams at some of the High Street Banks which has yielded a number of valuation instructions. I have also increased the number of instructions where clients require me to act as Expert Witness or Single Joint Expert on matters such as matrimonial dispute and professional negligence. I now receive a much broader range of valuation work. Most exciting of all, during the last 12 months I have received a number of Residential Agency instructions which is an area of work that I have be keen to get involved in for some time. Not only has this helped with my fee billing but it has also increased my awareness and knowledge of sectors such as Student Accommodation and Residential Investment. It would seem that most of my colleagues have also enjoyed success over the last 12 months and there is a genuine buzz and feel good factor around the office, helped in part by the recent re-branding of the firm”.
King Sturge
The King Sturge East Midlands office opened in 2005 with a team of only four. Since then the business has continued to expand with three new fee earners recruited during 2010 taking the office total to 20.
Our business plan and ambition is to become one of the leading multi-disciplinary property advisors in the East Midlands, successfully combining our local knowledge and national specialist service lines to a broad client base.
Our team has quickly grown market share across the East Midlands against the background of difficult economic conditions and formidable competition from long established regional practices. This rapid rise has been built on the strong foundations, despite being a new and relatively small team. We have a track record of consistently delivering the region’s landmark deals and advising on the region’s key schemes.
These competitive market conditions have meant, more than ever, that to succeed we have to adapt and adopt new approaches. We have pursued technically demanding off-market transactions where the risks and rewards are high, the recent highlight being the assembly of major office pre-let to E.ON and securing the forward funding. This scheme kicks off a new city centre business quarter which we anticipate will act as a catalyst for more pre-let deals.
Our activities extend beyond Nottingham and we have led many key industrial and office deals in Derbyshire and Leicestershire during 2010. Our efforts have been recognised by being awarded Insider East Midlands Agent of the Year in 2010, the first time the award had ever gone to a national firm.
We believe our success can be attributed to an emphasis on client service, market analysis and intelligent property advice across the key sectors. The rapid growth of the business, and the scale and significance of our transactions have contributed to the development of a team that has truly stood out within the East Midlands market .
Client testimonials
“Following a competitive tender King Sturge was appointed as acquiring agent for Learndirect in the rental of 25,000 ft² of brand new offices within Leicester City centre. King Sturge’s chosen strategy enabled high level negotiations to take place, adding considerable value and securing Colton Square on exceptional terms.”
“As a dynamic client focused team, King Sturge had a clear understanding of our objectives and requirements, and we would have no hesitation in considering working with them again in the future.”
UFI LEARN DIRECT, Greg Freeman,
“The contribution made by you and your team in the assembly of the site and conclusion of a pre-let to E.ON proved to be a vital element. Throughout King Sturge demonstrated an excellent working relationship with the site owner (Nottingham City Council) and the occupier, this helped us being them together to deliver the correct property solution to satisfy E.ON’s complex requirements.
We are currently working closely with the King Sturge team to identify the next opportunity and feel confident we will together deliver further successful projects.”
Mark Bielby, Development Director
