Commercial property

Commercial property news from Swindon and Wiltshire.

Swindon church changes hands

Written by Peter Davison.

The Kingdom HallThe Kingdom Hall of Jehovah’s Witnesses in Swindon has been sold to Bethel United Church of Jesus Christ, in a deal brokered by commercial property agents Kilpatrick & Co.

The place of worship, a single storey building 1,692 sq ft, situated on Seymour Road in the Walcot district of Swindon consisted of a large meeting hall (sanctuary) complete with a raised pulpit, two offices/stores, a kitchen, lobby/cloakroom with toilets and entrance lobby.

The outside of the property was paved with gated access, partly enclosed by a brick wall with room for two or three car parking spaces.

Daniel Pitt, Kilpatrick & Co’s Office Manager said, "We are very pleased that the sale has now completed after many months of planning, preparation and patience.

"Bethel United Church of Jesus Christ have already made plans to have their first opening service on April 13 and we were very grateful to them for their patience during the process.

"On a personal note, as a Christian myself it is nice to think that the building will continue to be used as a place of worship and house of prayer and I wish them Godspeed for all they do in the future."

Trio of units let in Marlborough

Written by Peter Davison.

Hughenden YardA trio of retail units has been let at Marlborough's Hughenden Yard.

Unit 7, a 500 sq ft shop, has been let to Hayley Lambert’s Packaging Not Included, which provides customers with a means of buying food without packaging and waste.

The 677 sq ft Unit 13 has been let to a new NHS dentist, which is expected to open in May. Marlborough Dental Care is part of the South Cliff Dental Group.

And Unit 4 and 5, 1,134 of ground floor sales area and a first floor showroom, has been let to Woolley & Wallis. The firm offers expertise in sales, letting, farm and rural and commercial land and properties.

Negotiations were conducted on behalf of Hughenden Yard by Swindon-based commercial property agent Kilpatrick & Co, which manages the site.

Daniel Pitt of Kilpatrick & Co said: "Despite the current economic and political uncertainties new, and established businesses have seen the opportunities and potential that Hughenden Yard has to offer.

"The landlords have shown great foresight and a continued desire and commitment to welcome new and unique businesses like Packaging Not Included who are offering something different, special and much needed.

"The decisions taken by us and the landlords should ensure that Hughenden Yard will continue to thrive and provide retail and services for the local community and beyond."

Hughenden Yard opens onto Marlborough High Street, which was last week named as one of the 10 most successful high streets in the UK.

Quirky social club to be sold as a going concern

Written by Peter Davison.

The Cricklade ClubA quirky social venue in Cricklade is being sold as a going concern.

The Cricklade Club is a former Working Mans' Club in the heart of the market town. The property was thoroughly renovated in early 2016 and includes an event venue, a 'retro' bar area, office premises with space for up to 14 desks, and three bedroom staff accommodation.

The event hall, which has a 220 capacity and a 2am licence, is hired out for corporate meetings, parties, receptions and town social events, including a successful comedy club.

CCTV and wi-fi runs throughout the Grade II listed building.

The property is on the market with Moore Allen & Innocent in Cirencester, with price available on request. www.mooreallen.co.uk

 

Flying high for former aircraft hangar sale

Written by Peter Davison.

Distlock House at Old Sarum AirfieldA piece of military aviation history has come onto the commercial property market, with a former World War I aircraft hangar being offered for sale by Myddelton & Major.

The Grade II* listed hangar at Old Sarum Airfield near Salisbury was built in 1917 for the Royal Flying Corps, later to become the RAF.

The 17,856 sq ft (1,658.82 sq m) building is now used as a factory/workshop building, and is on the market for £800,000.

Myddelton & Major partner Dean Speer said: “This is a rare opportunity to acquire a large freehold industrial building with a unique history.

“The property adjoins Old Sarum Airfield and is approximately three miles north of Salisbury City Centre. The area has been developed into a thriving business park, housing a range of industrial and distribution occupiers.

“The building retains its original sliding hangar doors, potentially providing full width access. Two ancillary buildings provide office accommodation with and there are cloakrooms and kitchenette facilities.

“There is a good-sized staff canteen with additional works toilets. On the southern side of the main building there is a lean-to extension providing additional storage and workshop space.”

 

Retail unit in heart of Old Town comes to market

Written by Peter Davison.

54 Godwin CourtA retail unit in the heart of Swindon's Old Town has come to market with commercial property agent Kavanaghs.

54 Godwin Court offers a refurbished ground floor lock up shop with open plan retail area and prominent frontage to Godwin Court. Beyond the retail area is a small office and separate kitchenette and WC. At the rear of the property is the allocated private parking.

Stephen Brickell, commercial property manager at Kavanaghs, said: "We are pleased to be bringing 54 Godwin Court to the market having previously let the properties on either side to two successful businesses in this landmark parade which is situated in the heart of Old Town in Swindon.

"Having let many properties in Old Town and Godwin Court previously we are pleased that it remains a strong and successful location for a variety of retailers, estate agents and other professionals."

The property is to let at an asking rent of £17,500 pax on a new lease.

Corporate finance firm secures major deal for meat wholesaler

Written by Peter Davison.

Directors and shareholders of Collicutt Meats Limited, Gary Short and Paul Collicutt, with Sue Green and Daniel Wright of WatershedsA firm of corporate finance specialists has secured major investment for a meat wholesaler, paving the path to retirement for two founding shareholders.
 
Watersheds, based in Swindon’s Bath Road, has completed a deal to deliver private investment for Cheltenham-based Collicutt Meats Limited.
 
The wholesaler of fresh and frozen meat and poultry was established in 1987 by four ex-colleagues, each with substantial knowledge of the industry.  

Over the last 30 years it has grown to employ more than 30 people, servicing independent butchers and catering businesses in the Midlands, South of England and South Wales. 
 
The commitment by a team of private investors has enabled founding members, Bob Hughes and Alan Lewis to retire. Paul Collicutt and Gary Short will continue as directors and shareholders.
 
Wendy Lam, Partner at Watersheds, said: “The differences in age and geography between the shareholders meant that they had differing aspirations, both personally, and for the business.
 
“We needed to find a solution that would allow those that wanted to retire to do so, whilst allowing the others to continue to drive the business forward.  In the team of private investors, we found the perfect match.”
 
The investors bring with them a wealth of knowledge and experience which, combined with the already experienced management team, will help Collicutt Meats to continue to grow and prosper.
 
Speaking on behalf of the shareholders, Bob Hughes, added: “We are delighted with the deal that has been structured, which has helped us all achieve our individual goals, and provides a solid platform for the continued success of Collicutt Meats.  

“Watersheds supported us every step of the way, and found a solution that worked for everyone.”
 
The investors were attracted to Collicutt Meat’s good track record and reputation. They are looking forward to supporting Paul Collicutt and Gary Short as they continue to develop the business.
 
Financial support for the deal was provided by the firm’s accountants, Kingscott Dix and legal advice to the shareholders by BPE Solicitors.

Symmetry Park supports growth at Savills in 'challenging times'

Written by Peter Davison.

Symmetry Park SwindonThe largest industrial/warehouse letting in the South West in 2018 supported financial growth at the UK operation of international property agent Savills in challenging times for the real estate industry.

Retailer Iceland Foods signed a lease on the speculatively developed Unit 1 Symmetry Park in Swindon late last year. The unit extends to 221,173 sq ft at a rent of £6.75 per sq ft, plus a rent-free period of 7.5 months.

It is the only speculatively developed warehouse over 150,000 sq ft in the region and is the first to complete on the park.

This week, preliminary results for Savills showed a ten percent growth in revenue to £1.76bn, but a virtual stalling of profits at two percent – £143.7m.

Group chief executive Mark Riley said: "Savills delivered both revenue and underlying profit growth in 2018, driven by a robust second half of the year.

"In addition to maintaining or growing our share of transactional markets, the performance of our less transactional business lines was key to this performance. "We have made a solid start to 2019; however, the year ahead is overshadowed by macro-economic and political uncertainties across the world. It is difficult accurately to predict the impact of these issues on corporate expansionary activity and investor demand for real estate.

"At this stage, we expect to see declines in transaction volumes in a number of markets and growth in our less transactional business lines; accordingly we retain our expectations for the Group's performance in 2019."

Commenting on the performance of the South West division, Paddy Hales, head of Savills Bristol, said: "Over the past year Savills Bristol has transacted some significant deals including the largest warehouse letting in 2018 at Symmetry Park Swindon and the sale of Aurora (a seven-storey office block in Bristol) for Cubex and Palmer Capital."