Posts Tagged ‘commercial’

New UK-Wide Industrial Rent Set In Battersea, SW11

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Andrew Scott Robertson, South West London’s leading industrial agents, announces that, acting on behalf of a major fund, it has completed the letting of three units totalling 6,755 sq. ft. at Parkfield Industrial Estate, Battersea, SW11
setting a new headline rent of £30.00 per sq. ft. This rental level is believed to be the highest rent ever achieved for a standard open market industrial unit letting in the United Kingdom.

Parkfield Industrial Estate is located in the heart of South West London, close to Clapham Junction railway station. The estate extends to a total of 69,000 sq. ft. contained within 20 units. Andrew Scott Robertson have acted as letting agent on this estate since August 2016, when rents were in the order of £11.00-15.00 per sq. ft. 4 units were destroyed by fire in 2016 and practical completion of the rebuild was achieved in May 2018. The previous leases on these units expired within the construction period. 

A leading international auction house, has completed a new 10 year lease at a rent of £63,090 per annum on 2,100 sq. ft., equating to a £30 per sq. ft. rent. A provider of flexible commercial kitchen space, has also completed a 25 year lease, with 10 years term certain, at a rent of £30 per sq. ft. on 4,600 sq. ft. with just three months’ rent free.

Stewart Rolfe, Director of Commercial Property at Andrew Scott Robertson commented: ‘”The strong performance of the South West London Industrial Market is further exemplified by these lettings where high quality units in close proximity to the City and West End remain a priority for occupiers. The current demand for such units together with the reduction in supply due to conversion to residential have led to a substantial increase in rental levels over the last 12-24 months and, specifically a 63% increase in rental values on this estate.

Further information:
Tel.: 020 8971 4999 / Email: commercial@as-r.co.uk

Andrew Scott Robertson Launch a Lifeboat in SW19!

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If you think Wimbledon is just about tennis think again! Wimbledon Estate Agents and Chartered Surveyors Andrew Scott Robertson pushed the boat out to raise money for the Royal National Lifeboat Institution on Saturday 30th June.  Director Ian Ailes, who organised the event with the RNLI Clapham Branch said, “You don’t see many boats in Wimbledon yet our nearest Lifeboat station is on the Thames at Chiswick just 7 miles away; the 2nd busiest lifeboat station in the country. It is manned 24 hours a day and has a response time of just 90 seconds.  So far this year they have attended 107 incidents and rescued 14 people and 3 dogs. Two of our Directors are Lifeboat supporters so we decided to organise a fundraising event on our Wimbledon Village office forecourt by offering to double whatever was donated on the day with a target of £1,000. We are very pleased to say we raised over £1,300”. 

Our photo features (L-R) Residential Sales Team: Rob Wells, David Faulkner, Samantha Cross and Professional Services Director Ian Ailes. 

ASR Commercial in the News

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We are pleased to report that Ian Ailes FRICS, Commercial Director for Andrew Scott Robertson was featured in the recent RICS Q3 2017 UK Commercial Property Market Survey.

The RICS survey is widely recognised as one of the best indicators of developments in the UK commercial property occupier and investor markets. The results of the Q3 survey show that both investor and occupier demand edged up during Q3 for UK commercial property, but there is still a significant difference between sectors with industrial clearly outperforming.

Survey in brief

  • Rent expectations upbeat for industrial space, but flat for offices and negative for retail
  • Pick-up in both domestic and foreign investment demand at the national level
  • London continues to display more cautious sentiment with 73% of respondents in Central London sensing the market to be in some stage of a downturn.

The view from ASR

Ian Ailes comments in the report “The market is suffering from a negative view and there is nothing on the horizon likely to improve perception. The next event is the Chancellor’s autumn statement but we need something positive in it to incentivise businesses ie less taxation which will generate a larger tax collection. Money is cheap but no one wants to borrow if rates may rise. The Bank of England needs to address this. Threats of interest rate rises are over recessionary. Domestic SDLT needs to be reduced or made fairer to stimulate sales and so new builds from which the economy takes its lead.”

The view from RICS

The feedback to the Q3 survey reflects some of the broader macro issues, with the underlying momentum in the occupier market a little firmer further away from the capital. This is also mirrored in valuation concerns with around two thirds of respondents viewing the London market as being dear.

A key issue going forward will be how the market responds to the likely first interest rate rise in a decade next month. Given that expectations are only for a modest tightening in policy, the likelihood is that it will be able the weather the shift in the mood music. But this remains a potential challenge if rates go up more than is currently anticipated.

To read the survey in full click here.

Presenting Hatton House, 77 – 91 Hartfield Road, Wimbledon

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Andrew Scott Robertson are proud to present Hatton House, 77 – 91 Hartfield Road, an outstanding development of new commercial units located in central Wimbledon.

Set beneath a highly sought after residential development, Hatton House comprises 6,458 sq. ft. of Grade A specification office space, arranged over ground and lower ground levels, and offers flexible, open-plan layouts with secure parking and much valued outside terrace space.

Rents per sq. ft. vary from £40 to £45 according to unit number as follows:

  • Unit 1, Lower Ground Left, 1,722 sq. ft. (160 sq. m.) Rent per sq. ft. £40.00 (£68,900 pa)
  • Unit 2, Lower Ground Right, 1,905 sq. ft. (176.98 sq. m.) Rent per sq. ft. £40.00 (£76,200 pa)
  • Unit 3, Ground Left, 1,356 sq. ft. (125.98 sq. m.) Rent per sq. ft. £45.00 (£61,000 pa)
  • Unit 4, Ground Right, 1,475 sq. ft. (137.03 sq. m.) Rent per sq. ft. £45.00 (£66,400 pa)

Stewart Rolfe, Director of Commercial Agency at Andrew Scott Robertson, comments “Well-designed, conveniently located office space remains in high demand in Wimbledon and the flexible open-plan layouts offered by Hatton House are particularly conducive to today’s working environments. We expect high levels of interest for this exceptional new commercial development in the heart of SW19.”

Further information:

Stewart Rolfe, Director of Commercial Agency t. 020 8971 4994 / e. srolfe@as-r.co.uk

Victoria Nicol, Marketing t. 020 8971 6780 / e. vnicol@as-r.co.uk

24 High Street,
Wimbledon Village,
London SW19 5DX

Tel: +44 (0)20 8971 6780
Fax: +44 (0)20 8946 3683