News

Tesco Extra to be built in Rotherham Town Centre

A £40m project to create a Tesco extra store in the heart of Rotherham Town centre will enter its construction phase in January 2014. The project has predicted that the store will create up to 450 new jobs for the area, including 250 full time staff and 200 part time staff. The construction of the store is set to take about 12 months to complete and should be opening in January 2015. Rotherham Town Council had this to say about the construction project: ‘This new Tesco store will be located on the site of the current Civic Building, Central Library and Norfolk House, with the addition of a petrol station where Crinoline House previously stood. There will be extensive improvement work to the road and traffic network, including a new road junction created between Drummond Street and Centenary Way, and new hard and soft landscaping improvement works to Effingham Square, Drummond Street and Nottingham Street.' AWS is currently promoting a retail opportunity based locally to the new Tesco store that is available to rent, located at 47 Effingham Square. After the stated improvement work has been completed, the Effingham Square property will be at the heart of a new retail area and a great opportunity for a new or existing retail business to connect with a large number of new retail customers. Details of the property are available on the AWS website, simply search for the following property: 47 Effingham Square Here are some of the Key Project Milestones as set out by Rotherham Council: Start On Site: May 2013 Structural Demolition of existing buildings: June to September 2013 Store Foundation work commences: January 2014 Store Shell completion: October 2014 Store fit-out/ completion: 4th Qtr. 2014 Estimated date store open for trading: January 2015

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Leeds commercial property economy on the up

Over the last economic quarter, there have been several research projects that have identified the growth of Yorkshire’s commercial property industry. The UK economy itself has risen by 0.8% over the last three months and along with this the construction sector saw a growth of 2.5%. The Office of National Statistics attributed this increase to ‘New work on private housing and private commercial properties’. Commercial rental values across the industrial, office and retail markets across the Leeds City Region were expected to return to positive territory in 2013 and continue to grow afterwards as a sign that occupier demand was set to strengthen further. The Yorkshire post stated recently that ‘this renewed investor belief in the Leeds City region had created investments of around £1.5bn for future city developments’. Furthermore, with dozens of inner-city and outer-city developments being agreed within the last month, this increase in growth is set to continue.

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Birchin Way Industrial Estate,Grimsby

Leeds based Property Consultants, AWS are pleased to announce the purchase of a multi let industrial/trade counter investment in Birchin Way, Grimsby on behalf of a property company client. The purchase comprised an estate of 17 units totalling 24,423 sq ft with occupiers including Howden Joinery and Autoglass. The purchase price of £1,025,000 represented a net initial yield of 11.2%. Kevin Surplice of AWS said “this represents the third transaction this year for this client in this particular sector and we are keen to find other similar opportunities within the region.

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KERNEL HOUSE, KILLINGBECK DRIVE, LEEDS

Acting on behalf of Kindhill Ltd, AWS are pleased to announce the conclusion of the back to back lease surrender and sale of Kernel House, Killingbeck Drive, Leeds to Leeds City Council. Kernel House is an imposing 13,260 sq ft detached office building located adjacent to Acorn Business Park, just off the A64 York Road. Leeds City Council plan to take occupation of the building early next year following refurbishment of the building. The acquisition of Kernel House will see Leeds City Councils occupation in the area increase significantly and will work in conjunction with their existing adjacent sites at Killingbeck Court and Acorn Business Park. Gina Korszanski from AWS says ‘’this sale shows there is increasing confidence in the out of town office market especially in the owner occupier market. The council favoured the location of Killingbeck over other out of town locations which shows confidence in the area. AWS acted on behalf of Kindhill Ltd for the sale and surrender, Colliers International acted for previous occupier in the surrender and Leeds City Council represented themselves.

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MILDRED SYLVESTER WAY, NORMANTON - SOLD!

Acting for Chariot Investments LLP, AWS have sold 37,600 sq ft of manufacturing space at Normanton to Frank Marshall Estates (Yorkshire) Ltd. The property on Mildred Sylvester Way provides a unique redevelopment and refurbishment opportunity and will be up graded by the purchaser to provide a modern facility. Nick Arundel of AWS, who handled the transaction, said "that it is encouraging to see that as well as the huge occupier take up of property we are now seeing developers and investors get involved as well".

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Yorkshire Post Building to be demolished

A decision is expected to be made next month as to whether the former Yorkshire Post building in Leeds City centre should be demolished. The building was put up for sale by publishing group Johnston Press in November 2012 after a plan was announced to move the two newspapers from the premises to a modern office block as it looked to save costs. Helen Oldham, managing director of Johnston Press Yorkshire, confirmed an application to demolish the existing structures on site has been formally submitted to Leeds City Council. The symbolic offices on Wellington Street have been home to both the Yorkshire Post and Yorkshire Evening Post for 42 years and have been a familiar sight for thousands of Leeds commuters. Opened in 1970 by Prince Charles, the landmark Leeds building is known around Yorkshire for its concrete exterior and iconic clock. It was announced earlier this year that English Heritage said the building would not be listed. The site will now look to be used for redevelopment.

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