Our agency team sells licensed premises nationally and our existing clients include national pub companies, major leisure corporations and premium private operators across the UK. The team deals with sales, lettings, acquisitions of both trading
and vacant premises.
We are one of the most respected teams of valuers in the industry providing specialist valuations for loan security, accounting and taxation purposes. Our clients include all major banks and lending institutions throughout the UK.
We offer clients a consultancy service including viability appraisals and Expert Witness reports to assist with development and planning opportunities. We are also able to represent clients whose interests are affected by Compulsory Purchase proposals.
In addition to a strong track record of dealing with trading properties, the team has particular expertise in redevelopment, working closely with the Savills Planning and Urban Design departments.
We represent Landlords and Tenants in rent review and lease renewal negotiations and make representations to Arbitrators and
Independent Experts when disputes require it.
The team includes highly experienced dispute resolvers able to act as arbitrators, independent experts and PIRRS valuers in rent review and lease renewal cases.
We undertake rating appeal work on behalf of owners/occupiers to mitigate business rates liabilities, as well as advising on empty rates.
Savills has been appointed by joint fixed charge receivers Stuart Jones and Philip Beattie to bring Immingham Golf Course in Lincolnshire to the market.
Falling birth rates, which have slowed population growth, coupled with much greater life expectancy means that we are now faced with a rapidly aging population. Once upon a time our grandparents wouldn’t necessarily have had access to the internet, but now they are a generation of silver surfers and part of a demographic that is only set to increase.
Global farmland continues to attract considerable interest from governments, government-backed investment funds and private investors. In terms of global food and energy security, environmental sustainability and economic growth its importance is unequivocal.According to our Global Farmland Index, increased competition for the best farmland has led to an annualised average rise of 12 per cent in values since 2002 and during this time farmland values have outperformed many other commodities.
The Hilton Parkview Hotel in Vienna has been sold to a consortium from Korea, led by Meritz Securities and including Hana Financial Investment Co. and NH Investment & Securities Co., for €375m. Wealthcore Investment Management acted as the European asset manager for the Korean consortium. International real estate advisor Savills brokered the transaction.
With an increasing emphasis on both wellness and corporate social responsibility, companies are now more aware than ever of the case for embedding an Environmental, Social and Governance structure (ESG) into an investment portfolio, managed property or business.
5G mobile is coming to the UK. While largely still reserved to certain locations and phone networks, the roll-out is set to accelerate fast and it is expected to be available across the country within the next few years.5G will lead to connections more than 100 times as fast as current 4G networks, which means users will be able to download a film in just a couple of seconds even when out and about.
Savills, on behalf of MVJ Capital, has sold a Starbucks drive thru unit in Swansea to a private buyer for £1.15 million, representing a net initial yield of 5.34%.
Have young people in expensive city centres resigned themselves to renting forever – or even prefer this as it gives them more flexibility – or is buying a home still the dream? Are new joiners to the workforce happy to work from anywhere so long as they have coffee and a WiFi connection? And where do they want to spend their leisure time?
This morning, Welsh Government published a Consultation Draft of its National Development Framework (NDF) which is out for consultation until 1 November 2019. Informed by the Well-being of Future Generations Act and the approach taken in Planning Policy Wales Edition 10, the NDF outlines a spatial vision for Wales up to 2040.
Industrial property has become the darling of real estate over the last couple of years with the occupational story predominantly driven by retail demand. According to our latest Big Shed Briefing report, industrial take-up in H1 2019 reached 4.1 million sq ft in the Yorkshire region alone, 55 per cent above the long-term average.
On all the student accommodation projects Savills consults on, making sure the project is future-proofed to last for the next 20 years or so tends to come top of the agenda. A narrow second to this is making sure that new and refurbished buildings are energy efficient, both to contribute to the institution’s commitment to reduce their carbon footprint and to minimise energy costs.
Brexit-related uncertainty continues to weigh heavily on farmers’ minds and decisions on releasing land to the market continue to be delayed. However, despite a quiet market, there are active buyers for the right property in the right location and potential sellers would be advised to explore the opportunities.
Retirement living is becoming increasingly attractive to operational real estate investors. That’s not because they dream of spending more time in the garden or on the golf course, but because of the potential scale of this expanding market as it matures into a liquid, mainstream asset class.
It's a well-known fact that online retail has changed the landscape of London; the way we receive our goods and the speed in which they arrive on our doorsteps have created unprecedented demand for warehouse space within the capital.Consequently, London’s supply chain and logistics networks are essentially the lifeblood of the modern age.
Upham Pub Company, represented by Savills, has completed the sale and leaseback of 14 individually branded pubs within the group to CBRE Global Investors.The 14 properties all of which were located in the south of England, provide a total of 161 letting rooms alongside a high quality food and drink offering.
Does all the news of store closures, Company Voluntary Arrangements (CVAs) and retail repurposing lead to the inevitable conclusion that the high street has been wiped out by new technology?Doom and gloom is a natural, almost instinctive, human response as familiar landmarks disappear, but this is not to say that retail as we know it is over.
What do corporate occupiers want from their workspace? The answer will depend on the occupier, its staff, the industry it operates in and its objectives. But to get an idea of one occupier’s needs Savills spoke to Caroline Lawson, below, Director of Corporate Real Estate at Johnson & Johnson (J&J), the world’s largest and broadest healthcare company.
The last few years have seen a huge transformation within the office sector. The focus on staff fitness, mental health and general wellbeing is at the heart of a global trend and, as the lines between work and play become blurred, investing in amenities such as gyms, yoga and healthy eating in the workplace is becoming increasingly crucial. In fact, in a recent survey by Mind, 60 per cent of workers said they would feel more motivated if their employer took action to support their mental wellbeing.
Developers are increasingly looking to adapt and reuse heritage sites as modern commercial space. The transformation of disused heritage buildings presents a competitive alternative to the new build office for several reasons: it’s sustainable, it preserves history and it reinstates activity in previously established areas. There’s even evidence to suggest that the presence of historical sites positively affects local economies.
The effect a business has on the wider community, the social value impact, has become an increasing focus of attention and is now finding its way into the planning of new developments.In the UK there has been growing awareness of social value since the introduction of the Public Services (Social Value) Act in 2013. The act places responsibility on local authorities to consider social and environmental objectives alongside price and cost when evaluating tenders and awarding contracts.
Launched in November last year, the Building Better, Building Beautiful Commission is an independent body set up to advise government on how to promote and increase the use of high-quality design in new build homes and neighbourhoods.The premise is that it will utilise the planning and development process to promote design which better reflects what communities want to see, building on local knowledge and tradition.
Gone are the days where a building was simply a combination of the maximum net internal area (NIA), lowest build cost and highest rent. Instead, there is a long checklist of criteria to ensure a development has value. Not just in monetary terms, but also socially and environmentally too.
For years the local Ipswich industrial and logistics market has been characterised by local churn and units of under 20,000 sq ft, with very little to write home about.However, as the online retail market has continued to grow and demand for distribution centres has skyrocketed, Ipswich’s proximity to the Port of Felixstowe has triggered an industrial revolution of its own.
The serviced office sector is a hot topic at the moment: after establishing a presence in London there’s now been considerable movement by providers into the regions. According to our research, as a proportion of the Leeds office market, 17 per cent of take-up last year can be attributed to serviced brands. There are several good news stories for landlords that have come with the rise of these providers.
With many UK office markets experiencing a lack of new build space, a number of regions are seeing a significant growth in the volume of refurbishments as a result. However, with trends and designs moving on and changing faster than ever, how long after a major refurb should you consider giving your office a refresh?
Landowners will be familiar with restrictive covenants which legally bind how a property may be used, normally in favour of the rights of neighbours. These covenants prevent development or a noise nuisance, for example, and apply to the current and all future owners of the restricted property.
An expert witness has specialist training and understanding that makes them highly knowledgeable and as a result their opinion can be relied upon in court.They can be called for a variety of reasons but one of the most common is to resolve disputes involving property.
A number of reasons may be prompting landowners to consider removing land from agricultural production. There’s an appetite for rewilding and conservation in its own right as well as interest in the income that it can generate. And the possible loss of area-based payments heralded in the Agriculture Bill may mean marginal land is no longer suitable for productive cropping.
UK commercial property prime yields remained stable in June 2019, according to international real estate advisor Savills, despite wider macro-economic headwinds in the market, with the all-property average prime yield currently at 4.87%, only a slight change on the 4.83% seen at the end of April.
Neutral used to be the buzz word in interior design, but these days individuality is also making its presence felt, leading to the rise of a far bolder palette. Equally, apps such as Pinterest, Houzz and Dulux Vizualiser have all been encouraging homeowners to be more daring, providing a wealth of inspiration for bright and brave designs.
Belstaff, the iconic British outerwear designer, has opened its doors to the public in Glasgow today, Friday 12th July, following the signing of a new 10-year lease at £105,000 per annum for Unit Two 197-207 Ingram Street. Savills advised the landlord, UK Estates Ltd.The 2,175 sq ft (202 sq m) store will sit alongside a growing trend of high end fashion retailers on Ingram Street, including Fred Perry, Armani, GANT, Hugo Boss, Mulberry, Ralph Lauren and Cruise.
When Help to Buy comes to an end in 2023, shared ownership looks set to become the best, cheapest, and perhaps the only route into home ownership for those unable to afford to buy without assistance, providing a very stable, affordable alternative to renting. Demand is expected to more than double over the next five years.
Edinburgh is suffering from an acute shortage of Grade A office space – levels are at their lowest for a decade according to our recent research on the city’s office market. Central Edinburgh currently has a total available office supply of 574,000 sq ft, of which 203,000 sq ft is Grade A, although many consider a large portion of this to be secondary Grade A.
According to Savills latest Big Shed Briefing, take up of industrial & logistics space (units over 100,000 sq ft) hit 16.07 million sq ft (1.492 million sq m) in H1 2019, 28% up on the long term average for the first half of the year. Evidence of a more diverse occupier landscape has continued to dispel the Brexit myth of a perceived lack of activity due to uncertainty.
Hayes in West London may not be the most obvious office location, but the town has a rich history of technology and innovation that dates back as far as the 1930s. Fast forward to today and new developments, such as U+I’s The Old Vinyl Factory, are harnessing this spirit and helping to restore the town to its former glory.
Planning permissions for retail development have a long history of being granted subject to conditions that limit the extent of the retail uses that would permitted. Such conditions are widely known as user restrictions, and have found their way into the day-to-day practice of retail planning.
Average values across the prime London residential markets held their own in the second quarter of 2019 for the first time since the third quarter of 2015. While prices continued to show falls on an annual basis, these have reduced to just -1.8%, less than half the level seen this time last year.
June was awash with the colours of the rainbow as people from across the globe celebrated Pride month. Now in London, with the parade almost upon us, businesses have festooned their buildings with flags and emblems, but it is important to remember that this wasn’t always the case.
Savills, on behalf of a Regional Pension Fund, has let Unit 4 at Riverside Business Park and two units at Lenton Lane Industrial Estate in Nottingham to Wolseley UK Limited and Sandicliffe Limited respectively.Wolseley, the specialist builders’ merchant, has agreed to a new 10-year lease for 9,074 sq ft (843 sq m) and will occupy Unit 4 on Centurion Way at Riverside Business Park.
1 April 2019 marked a significant date for occupiers and owners of commercial property in the UK: it was the valuation date, or the snapshot in time, upon which rateable values will be based for the three-year period between April 2021 and March 2024.
In the developed countries of the 21st century, convenience – something that contributes to an easy and effortless way of life – has emerged as perhaps one of the most powerful drivers of our time. It is also one of the main factors provoking changes in the retail real estate market.
Glasgow's investment in recent years into leisure and events venues across the city now sees it host some of the largest cultural, music and sporting events in the UK.Just like its legendary music scene that stretches across the whole spectrum of genres, its venues are equally varied. The city hosts an average 130 music events each week, more than any other Scottish city.
Studies have had their place in the nation’s homes for centuries. It’s within these four walls that key decisions, breakthroughs and discoveries have been made and some of our best-loved literature has been written.Much more than simply a practical, functional area, a study owes much to its interior design and décor which helps create a setting that encourages both productivity and creativity.
According to the Home Builders Federation survey, new build buyer confidence is at its highest since June 2017, having gone from being the second biggest constraint on development at the end of 2018 to the ninth (out of 15) at the beginning of this year.
You don’t need a director of residential research like me to tell you that the price you pay for a house in Britain depends very much on where you live. But the difference in the cost of the top one per cent of homes by region just might come as a surprise.
Savills has secured the sale of two Caracoli coffee stores in Alresford and Haslemere with Heidi Bakery acquiring the premises and the ownership of the Caracoli business following a company share sale.Heidi Bakery, as part of the acquisition, has secured 15 Broad Street in Alresford and 27 High Street in Haslemere, the stores will continue to trade as Caracoli.
The Cardiff Capital Region (CCR) is one small step closer towards producing its much anticipated Strategic Development Plan (SDP). The CCR Cabinet has endorsed a recommendation for a template report for each of the constituent authorities to use in seeking approval to proceed.
Following a three-day debate, the Planning (Scotland) Bill has been passed by Scottish Ministers by 78 votes to 26 votes.The reforms, which were amended on numerous occasions before ultimately being passed on 20th June 2019, will go forward for Royal Assent in due course.
The UK's operational real estate will grow from £223 billion today to £880 billion at full maturity.Covering student housing, Build to Rent, retirement housing and care homes, it is currently worth £223 billion. There are many differences between these sectors.
Andrew Macdonald has been appointed Head of Food and Farming in Scotland at Rural Property specialists Savills.He joins Savills with 24 years agricultural consultancy experience, gained latterly at Laurence Gould Partnership. He previously held consultancy appointments on the Isle of Man, Lanark and Shetland with SAC.
Despite ongoing political uncertainty, there has been a significant increase in buyer confidence in the first quarter of 2019, resulting in greater interest. Realistically priced properties are attracting particular interest, especially in the new build market. Here, the level of viewings and new applicants are up considerably. However, this increase in enquiries isn’t yet translating into commitment and transactions.
Investor attitudes towards the retail sector continue to be main driver of the Savills average prime yield shifting outwards in May to 4.87%, a level last seen in December 2016. Both the high street retail and shopping centre sectors saw outward shifts of 25bps with future outward pressure maintained along with the leisure sector. With only the regional hotels sector displaying any downward pressure it is likely that our average prime yield will continue its outward trend in 2019.
According to research from Savills, London is set to require up to 6.49 million sq ft (602,940 sq m) of warehouse space per year, a 419% increase on current levels, in order to keep up with the delivery of new homes in the capital.The British Property Federation’s (BPF) ‘What Warehousing Where?’ report states that, at a national level, 69 sq ft (6 sq m) of additional warehouse space will be needed per home in order to fulfil deliveries generated by the growth in online retail,
Shared Ownership (SO) has come a long way. Since its inception four decades ago it has become an established fixture in the housing landscape. Now, more than 200,000 households live in the tenure. There were over 13,400 Shared Ownership completions in 2018, and Rightmove listed around 2,500 secondhand Shared Ownership properties in Q4 2018: 69% more than in Q4 2010.
Sheer population size is one reason why the region will lead the 21st century, especially economically. Asia-Pacific’s 14 leading nations – China, India, Indonesia, Japan, the Philippines, Vietnam, Thailand, South Korea, Malaysia, Australia, Taiwan, Hong
Average UK house prices fell by 0.2% in May, according to Nationwide, leaving annual growth at 0.8%. This is well below the levels of growth we saw this time last year, with annual growth to May 18 at 2.4%. Growth so far this year is in line with our annu
LGIM Real Assets (Legal & General), represented by Savills, has sold Building 1200 on Thorpe Park Leeds to Due West Limited for £5.27 million.
UK regional hotels and retail warehouses are the asset classes most likely to experience inward pressure on prime yields in the coming months, according to new analysis from Savills.