New availability in Bridgnorth

20150324_161804Wiggins Lockett Thompson have recently placed a new office suite on the market known as  Zone C at Stargate Business Centre. This represents a rare opportunity to occupy a self-contained two storey office space at this well-established business location on the edge of Bridgnorth town centre.
The accommodation which is suitable for a variety of uses comes with designated car parking and 24/7 access. The agents are seeking interested parties to take a lease for a term to be negotiated. Quoting terms are £11,826 pa for the 1,971 sq ft building. Interested parties should contact Wiggins Lockett Thompson on 01384 933044.

New store openings and seeking new site opportunities

Shurgard-LogoShurgard Self-Storage are pleased to announce the start of construction for 2 new storage facilities in the London area which will expand Shurgard’s portfolio to 24 stores in the UK across London and the Thames Valley.

With the goal to reinforce its position as the European leader in self-storage, Shurgard will continue to expand its network throughout Europe. Shurgard are keen to acquire more sites across greater London and are searching for prominent sites of 0.5 acres or larger and/or buildings of 2,000sqm or larger.

About Shurgard

With 197 stores across seven European countries (Belgium, Denmark, France, Germany, Sweden, The Netherlands and the United Kingdom), Shurgard remains the key player in the self-storage industry in Europe. Over the last 20 years, Shurgard has continued to invest in building customer awareness about storage facilities, as well as expanding its service and offer to meet the growing demand for more space from both domestic and business customers

The new stores are located in Chingford, North East London and Park Royal in North West London.


Shurgard-Chingford.ashxOur new 3-storey 10,700sqm Chingford store is located in the centre of Highams Park. This new store is superbly situated to serve the surrounding Chingford catchment area and pull on the wider areas of Woodford, Walthamstow, Buckhurst Hill and Loughton.

Opening is planned at the end of summer 2015.    Shurgard Chingford

Park Royal

Shurgard-Park-Royal.ashxOur new 6-storey 9,500sqm Park Royal facility is prominently situated on the west side of the A406 North Circular Road – north of the Hanger Lane Gyratory junction with the A40 – making it ideally situated for the areas of Park Royal, Alperton, Harlesden and Wembley.

Our Park Royal store is due to open autumn of 2015.

MIPIM Japan is the must-attend event this May

what-is-mipim-japan-338x228Tokyo and Osaka are ranked 1st and 3rd in terms of investment and development prospects in Asia.*

With a 1,000 m² showcase area, 2,000 participants and an expert-led conference programme, MIPIM Japan will provide a unique chance to foster new business opportunities.


  • Identify investment opportunities in Japan & Asia.
  • Source capital from Japan.
  • Generate new business with leading Japanese developers, architects and cities.

Learn more

*Emerging Trends in Real Estate® Asia Pacific 2015, published by ULI and PwC

Surveyors assist Local Sports Club

Hornets Lights InstallationWiggins Lockett Thompson have lent a hand to Telford Hornets RFC in overseeing the application for permission to install new training lights at their Town Park ground.  The chartered surveying firm, who have been sponsors and supporter of the town Rugby club for many years, have secured permission following a successful grant application for the club.

Anthony Wiggins, director at Wiggins Lockett Thompson added

This is an amazing rugby club that offers first class training and sport to a great number of families in Telford from a 100% volunteer base.  The Hornets are, I believe, the largest private sports club in Telford and this has only been possible through hours and hours of dedication from its members and volunteers.  We are happy to offer advice and administrative support to such a great club and would urge others in the area to do likewise.  The new lighting will allow the club to coach more players on site during the winter hours and save the club from expending off site pitch hire and venue fees.

Investment in London commercial property market close to last peak in 2007

London GherkinInvestment in central London’s commercial property market reached £20.5 billion in 2014, marginally below the last investment peak in 2007 when £20.6 billion was traded, a new report shows.

The huge weight of money flowing into the London real estate investment market from the UK and abroad looks set to continue in 2015 with the level of demand far outstripping the available supply, according to the data from global real estate adviser Cushman & Wakefield.

A breakdown of the findings show that investment volumes in the City of London and Docklands reached just over £5 billion in the fourth quarter of 2014, the highest quarterly volume ever recorded in the market.

The report says that the strong end to the year meant that the annual total reached £13.8 billion, which is the second highest on record behind the 2007 peak of £13.9 billion. Indeed, half of all investment volumes in the final quarter were as a result of three transactions in excess of £250 million each, which reflects the annual trend and 48% of all 2014 investment volumes were due to 10 transactions above this threshold.

The report points out that increasing numbers of investors and surging volumes of equity are being invested into the City of London market with interest from a wide cross-section of investors, notably the world’s largest sovereign wealth funds.

It also shows that overseas investors remain the most active in terms of transactional investment volumes accounting for 78% of both the fourth quarter and annual total. Asian investors dominated fourth quarter investment volumes but over the year North American investors have spent the most money in London.

However, 2014 witnessed positive net investment from both Asia and the Middle East, while all other regions including the UK disinvested from the capital.

Due to exceptional demand, the market yields are being driven down for all investments with prime at 4.25 to 4.5%, albeit several transactions have completed below 4%, notably the Gherkin.

‘We saw a strong City of London investment market in 2014 with international investors dominating acquisitions. The international appeal of London continues with an ever increasing spread of new global investors entering the market and there are no signs of an imminent slowdown,’ said James Crawford, Cushman & Wakefield’s head of City of London investment.

‘Deals from £1 million to £1.2 billion closed during 2014 and capital values hit an all-time high of over £1,400 per square foot at the Gherkin. The first half of 2015 shows all the early signs of a continuation of last year but we expect some profit taking to occur later in the year and uncertainty around the general election in May,’ he explained.

‘We estimate there is £250 billion of liquidity in the market available for direct investment in property and when this is combined with an improving debt market, a severe supply demand mismatch will be created,’ he added.
The report also shows that the momentum recorded in the third quarter in London’s West End continued into the final quarter of last year when £2.4 billion was traded and this was the highest quarterly volume for the market last year and 10% ahead of quarter three volumes.

This brings total investment volumes for 2014 to £6.7 billion but, while above the 10 year average, the annual total lags the volumes recorded in both 2012 and 2013.

Overseas money continued to dominate the market and was responsible for 61% of volumes in the fourth quarter and 55% of the annual total. Over the year, North Americans were most active at 19% followed by European investors at 14%. UK investors disinvested from the West End over the course of 2014, but investors from all other regions were net investors.

Overseas private money has continued to dominate money into the West End, accounting for 27% of annual investment volumes although this is below the high point of 34% seen in 2013 as competition with other investor types intensified.

Funds, both UK and overseas, accounted for a higher proportion of investment volumes year on year, as they raised their allocation to property, while UK property companies have spent proportionately less money in the capital. Prime yields remained stable across the West End at 3.25%.

‘In 2014 we saw the return of the UK funds as major investors in the West End. The consequence of yield compression outside of London resulted in investors needing to focus on growth markets for returns, hence the surge of capital in the latter half of last year,’ said  Andrew Thomas, partner in Cushman & Wakefield’s West End investment team.

‘As the prognosis for growth appears strong for the West End market, the outlook for 2015 looks positive, particularly for assets which allow for such growth to be captured early,’ he added.

Office move to Wolverhampton completes

4 Pendeford Place Wolverhampton – The 1,000 sq ft first floor remains availableThe ground floor of 4 Pendeford Place in Wolverhampton has now been let to Energy Performance Solutions Ltd, a firm of specialist environmental building services engineers who have expanded from other premises in Shrewsbury. The suite was let after a short period of marketing by regional Agents Wiggins Lockett Thompson.  With only the first floor of Number 4 remaining to let through the agency on the estate, and several interested parties in hand, this is the latest in a series of successful deals for the surveyors in Wolverhampton.

Richard Bache, who leads the commercial property team in the area added,
“Demand has been steadily improving for commercial space generally over the last year and supply and availability has not kept up.  The developments in the area have generated a spike in interest and the better quality space is proving popular.  We are urgently seeking new property to market in the area of all types to satisfy the demand.

Creative Space available in the Ironbridge Gorge

The Mosaic Shop – Newly Available To LetWiggins Lockett Thompson have overseen another commercial letting in the Ironbridge Gorge with the Conservation Rooms now being occupied by Stage & Studio Services Limited.  The business that has expanded from other successful premises in the Gorge specialise in the provision of professional hire solutions for events. The new premises will allow them to further enhance their recording services as well.

Anthony Wiggins, who has represented the Ironbridge Gorge Museum Trust for many years is now marketing this companies former premises, known as the Mosaic Shop in the same complex.  The building, which comprises a subdivided self-contained professional studio totalling 1,118 sq ft, neighbours the Fusion craft and artisans workshop, Museum, Cafe and Craven Dunhill special tile manufactory.

Anthony added,
“The Gorge is a unique working environment with a fantastic support and social network of businesses, community and facilities unequalled in the area.”

All enquiries are recommended to contact Anthony at their Telford Offices on 01952 603303.

The Market is Motoring

Offices available To Let at 26 Church Street, KidderminsterRichard Bache of Wiggins Lockett Thompson comments on the commercial property market.

“Since we opened our new office in the Black Country we’ve seen a real upward trend in activity across the board” reports Richard.

We’ve successfully brokered a letting at Black Country House in Oldbury on behalf of Goold Estates and have had a fantastic response to our marketing of Barn Conversion offices at Albrighton. All seven offices are under offer before completion of building works and we’re now taking reservations for the next phase of development.

We’ve now also taken on instructions to dispose of the freehold interest in office building, 26 Church Street, Kidderminster which is part vacant and part income producing which provides an opportunity to add value through active management or potentially provide a serviced office centre which is lacking in the town.

– Industrial Premises For Sale - Former Gradient Roofing Premises, Station Road, Four Ashes, WolverhamptonThe industrial market is also proving very active. We have a freehold sale in Willenhall under offer of approximately 11,000 sq ft. We’re acting for clients to search and acquire freehold premises in the order of 20,000 to 30,000 sq ft in the Dudley area which is proving to be a scarce commodity in the current market. This is unlikely to change in the short term with the lack of new development in the pipeline.

We’re experiencing a good level of interest in freehold premises we are marketing at Four Ashes in Wolverhampton having received a high level of enquiries for the building of 29,000 sq ft.

Richard continues, “There is no shortage of demand for most types of commercial property. The market started to improve earlier this year with an upturn in activity for small offices and industrial property and we are now seeing this activity spread through to larger properties. Based on the continued improvement in the economy in general, the feel good factor is returning to the market”

There is a noticeable shift from the buyer’s market we’ve experienced for the last few years to a market place now favouring sellers and landlords again. Any property owner sitting on surplus or vacant space would do well to seek advice on disposal to take advantage of this shift.

Spring Lane - Quality House, Spring Lane, WillenhallNew development is required to further boost the market and keep pace with the improvement in demand, particularly where industrial property is concerned. Landlords are reporting high levels of occupancy with LCP having now developed new units at their Pensnett Industrial Estate, known as Progress Point to satisfy demand.

New development in other sectors is also in evidence in Stourbridge with new Premier Inn and Brewers Fayre building works making good progress, KFC and McDonald will be on site soon on the ring road site opposite King Edward’s Sixth Form College which is itself nearing the end of extensive building works.

To discuss any aspect of commercial property contact Richard Bache on 01384 933044.

Investment Opportunity in Kidderminster

IMG_0143Wiggins Lockett Thompson has been appointed to market 26 Church Street, Kidderminster. The 11,000 sq ft office building set in the heart of Kidderminster’s professional quarter has accommodation over four floors and has a large dedicated rear car park.

The property offers the opportunity to investors and occupiers alike. Currently two floors are let, producing around £32,000 per annum, leaving the vacant parts to be let to enhance the investment further or to be occupied by the buyer for their own benefit.

For further information contact Richard Bache on 01384 933044 or or joint agent Michael Johnson.

Affordable Housing Time Bomb Looms

Angus Taylor of Bruton KnowlesProperty experts are warning of an affordable housing time bomb which needs addressing to ensure enough of this vital stock is not only built but in the pipeline to cover future demand.

It follows a recent case where a new appeal mechanism to remove the obligation of a developer to provide affordable housing was implemented and may open the flood gates for others to follow suit.

Prior to the recession, many property developments were granted consent on the basis that, under section 106 agreements, a certain percentage of what was to be built would be earmarked for social housing.

However, as the downturn began to bite, many developers found that the projects they were involved in were becoming increasingly unviable and sought to reduce the number of these properties and replace them with dwellings for private sale.

Before 2008, local councils were able to stand their ground with regard to social and affordable housing requirements. But as the recession took hold and developers started to withdraw on their affordable housing commitments, councils were held over a barrel.

It now seems that a new mechanism introduced through the Growth and Infrastructure Act 2013 is being used by developers to reduce their affordable housing commitments and follows a number of recent cases where the affordable housing requirements were reduced.

This includes a development in Gloucestershire where the affordable housing commitment went from 20 percent on one site and 30 percent on a second site to 14.1% across the two. Another case in Exeter resulted in the affordable housing provision being reduced to zero!

Angus Taylor from Bruton Knowles now believes that developers and councils need to work closely together before committing to a scheme so that a reasonable balance is struck between the provision of affordable housing stock while allowing developers to make any scheme viable and profitable.

Angus said: “Although we’re coming out of the recession, I believe there is going to be more cases where developers appeal on their affordable housing commitments.

“Coupled with a reduction in the number of affordable houses being built during the recession has made for a perfect storm in affordable housing provision.

“What’s key is that developers undertake stringent viability studies prior to the submission of any planning application. That way they know what the bottom line will be before any work is carried out.

“Councils also have to be reasonable in their demands on what they’re asking developers to provide, otherwise nothing will get built leaving a shortfall of both private and affordable housing.
“What we don’t want is for this ruling to turn into a free for all where developers en masse appeal against their prior commitments.

“A balance needs to be struck to ensure vital affordable housing is built while making sure developments remain viable for those committing monies to build new property.”