Tag Archives: Galbraith

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CKD Galbraith gets motoring with prime development land in Perth

A high profile 12-acre site at Perth’s Inveralmond roundabout on the A9 dual carriageway is being offered by leading Scottish property consultancy CKD Galbraith on behalf of Balformo Enterprises Ltd.

Nestled in the heart of The Fair City’s famous Motor Mile on Dunkeld Road, the development land comprises up to four plots, totaling approximately 9 acres in whole or part, suitable for a range of occupiers including car showrooms, a budget hotel and agricultural or high-end industrial suppliers.

The plots are zoned for employment and business use, available on long ground leases, and the site’s extensive road frontage to the A9 would make an excellent headquarters location.

CKD Galbraith has overseen the recently completed servicing of the site by I & H Brown, including the construction of a new road with bell mouth openings to each of the plots and infrastructure for mains water, gas, electricity and broadband has also been laid.

Perth City is a logistic transport hub that connects to the length and breadth of Scotland via the A9 – known as the spine of Scotland – from Edinburgh and the South (via the M90), Glasgow and Stirling, Dundee and Aberdeen (via the A90) and Inverness.

And the A9 between Perth and Inverness experiences some 33,000 daily traffic movements with a third of these movements immediately north of Perth. The City itself benefits from a wider catchment in the region of 1 million people within a commute of only 45 minutes.

In line with this, Perth’s strategic position at the heart of Scotland has been recognised by many national businesses, including SSE, Stagecoach Aviva and Bank of Scotland. Nearby motor traders include BMW, Mini, Land Rover, Honda and Mercedes.

Calum Innes, Partner at CKD Galbraith, said: “This is a fantastic opportunity for occupiers on such a prominent site on the A9 right in the heart of the motor retailing hub in Perth, which provides a strong collective consumer draw. The layout of the site is flexible so it would be suitable for a mixture of complementary individual occupiers, two to three occupiers or one larger occupier.”

For further information and to express your interest, contact Calum Innes or Harry Stott at CKD Galbraith on 01738 451 111. Prices and further information are available on application.

-ENDS-

Notes to Editor

 

Issued by JK Consultancy on behalf of CKD Galbraith. For further information, please contact: Jenny Kumar on 07989 5571989 or email jenny@jkconsultancy.com

CKD Galbraith is an independent property consultancy specialising in serving the needs of clients. It employs over 200 people in offices in Edinburgh, Stirling, Perth, Cupar, Inverness, Aberfeldy, Castle Douglas, Ayr, Elgin, Galashiels, Kelso and Peebles.

The firm provides the full range of property consulting services across the commercial, residential, rural and renewable energy sectors throughout Scotland. The company enjoys a successful relationship with its associate firm in London, CKD Kennedy Macpherson.

CKD Galbraith’s commercial arm delivers partner-led commercial property intelligence across a range of services, including property and asset management, professional services, investment consultancy, sales, lettings and acquisitions, project co-ordination, facilities management and building surveying.

To find out more about CKD Galbraith visit www.ckdgalbraith.co.uk or follow us on Facebook: facebook.com/ckdgalbraith and Twitter: twitter.com/ckdgalbraith.

6 Gavin Kerr

Former Scottish International kicks rugby into touch to tackle property

Retired international rugby player, Gavin Kerr, has left the scrum behind to take up a new position at one of Scotland’s leading independent property consultants CKD Galbraith.

The 36-year-old former pro is enjoying his new role as Building Surveyor in the firm’s Edinburgh office.

Gavin was capped 50 times for Scotland before retiring from a neck injury in 2010. During the latter stages of his career he studied a four-year degree through the College of Estate Management.

In his new role, Gavin provides the full range of professional Building Surveying advice, including refurbishment projects across residential and rural properties.

He recently passed his APC (Assessment of Professional Competence) – at the first attempt – and is now a qualified Chartered Surveyor and a member of RICS (Royal Institution of Chartered Surveyors).

Gavin previously worked with Savills in Edinburgh having moved from Jones Lang LaSalle in Manchester back to his home in Melrose in the Borders.

Martin Cassels, Partner of CKD Galbraith’s Building Surveying division said: “With his background in commercial buildings of all types, both at Jones Lang LaSalle and Savills, and being from the Borders, Gavin is ideally placed to build on the knowledge and experience and will fit in well to our team. His rugby background also shows that he is a great team player and a valuable asset to our company.”

Gavin Kerr explained: “I bought and sold houses while playing rugby and have always had an interest in that side of things. I even bought my current house in Melrose through CKD Galbraith. Throughout my career I’ve been lucky enough to follow both of my passions – rugby and commercial property.

“I love surveying as it’s not an office bound job. I get to meet people and be out and about on site. As well as the building surveying and refurbishment projects I’m involved with I’ll be looking to expand upon my interest in the rural sector – especially as I was brought up in the countryside.

“As a team player I’m thrilled to be working for a company with such a strong network of people to support me as I gain more experience.”

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Notes to Editor:

Gavin stared at CKD Galbraith at the end of April and passed his APC in May 2013. Before starting rugby at the age of 22, Gavin Kerr was a mechanical engineer. As a professional rugby player, he played for Leeds, Border Reivers, Edinburgh and Sale Sharks. He was brought up in Berwick upon Tweed.

 

Issued by JK Consultancy on behalf of CKD Galbraith. For further information please contact: Jenny Kumar on 07989 5571989 or email jenny@jkconsultancy.com

CKD Galbraith – www.ckdgalbraith.co.uk

CKD Galbraith is an independent property consultancy specialising in serving the needs of clients. It employs over 200 people in offices in Edinburgh, Stirling, Perth, Cupar, Inverness, Aberfeldy, Castle Douglas, Ayr, Elgin, Galashiels, Kelso and Peebles.

The firm provides the full range of property consulting services across the commercial, residential, rural and renewable energy sectors throughout Scotland. The company enjoys a successful relationship with its associate firm in London, CKD Kennedy Macpherson.

CKD Galbraith’s commercial arm delivers partner-led commercial property intelligence across a range of services, including property and asset management, professional services, investment consultancy, sales, lettings and acquisitions, project co-ordination, facilities management and building surveying.

Richard Higgins

CKD Galbraith: opportunity knocks for bumpy 2013

Richard Higgins, Pamela Gray and Ian Forbes of Scottish independent property consultants CKD Galbraith make their predictions for the commercial property investment market in 2013.

As predicted, 2012 was a testing year. The economy continued to stall, there was a persistent polarization between prime and everything else and a continued lack of debt funding, but with the re-emergence of private equity looking for greater returns. All in all pricing – with the exception of prime – moved out.

In 2013 there will be more of the same.

Richard Higgins, Commercial Investment Partner at CKD Galbraith (pictured top), said: “The retail sector, in particular, will continue to struggle in 2013, and, while everything will be set against the backdrop of new uncertainty caused by the Scottish independence debate, it will also be a year of opportunities for those willing to take some risk as pricing moves to realistic levels. Getting the right advice is paramount.”

Emerging opportunities

Although investment into the commercial property market is likely to remain weak in the short-term, with investors wary of continued uncertainty in the occupational market, the first signs of a turning point are now being seen, which could provide opportunities and value.

Richard Higgins continued: “Property companies and opportunity funds are back in the market. But they’re very selective, and still constrained by availability of debt, particularly as many of the previously active banks are not currently in the market.

“However, there is an opportunity to invest in the market during a period when it is anticipated that properties can be acquired at levels which allow for significant growth into the next economic cycle.”

Occupier Demand

Pamela Gray, Partner in charge of CKD Galbraith’s Commercial Asset Management division, said: “Whilst the commercial property market is likely to remain weak, as a firm we have seen an uptake in occupier activity generally, across the sectors, in the fourth quarter of 2012 and, so far, in 2013. Whilst some of this activity is simply occupiers flushing out terms for use in negotiations with existing landlords, we have seen an increase in the number of relocations or expansion deals.

“Tenants see opportunities in the current climate to secure better quality accommodation on attractive terms and this has resulted in a rise in the number of lettings.

“As the supply of good stock continues to decline, there is going to be more pressure on the major occupiers over the next 12 months and beyond. This lack of development has started to restrict options for occupiers, particularly in the office and industrial sectors, and there are currently a number of key occupier requirements in the market, which will be difficult to satisfy.

“In the retail sector we have seen a number of high profile business failures, but equally there are other national operators such as Subway, B&M, Aldi and Iceland who have significant requirement lists and are actively looking to open new stores in 2013.”

With the exception of Aberdeen, and some landmark streets in Glasgow and Edinburgh, headline rental levels have either fallen back or remained static since the peak of the market in 2007, but the first signs of a turning point in the occupational market are now being seen. This, in conjunction with a UK-wide lack of development, is likely to see rents begin to grow in the medium term.

In addition, improved business confidence supported by continued global economic recovery is expected to generate employment growth in the UK, initiating requirements for additional space from occupiers.

 

Market Polarisation

Since the downturn, the UK investment market has been characterised by polarisation between investments with long-term secure income streams and those let on short to medium term leases.

Since the second half of 2008, the gulf between prime investments, and the secondary and tertiary markets has continued to increase.

The definition of prime has also contracted, with many assets, which would previously have been classified as prime, now being discounted due to less than perfect attributes.

Ian Forbes, Investment Agency Associate at CKD Galbraith, said: “Prime properties are now defined as those which are not over-rented, let on long leases to an excellent covenant tenant, superbly located, and best in-class specification.

“The recurring theme in all sectors is that of risk pricing, and the polarisation between perceived low risk and everything else.”

Secondary Opportunities

With prime investments unlikely to offer value to investors seeking a return in excess of 5%, many investors see the secondary market, which now includes investments formally labeled prime (now good secondary), offering good opportunities.

Ian Forbes added: “There is still a mismatch between buyer and seller price expectations over secondary stock but realism is emerging.

“Secondary yields are expected to continue to drift out in the short term, but could quickly swing back when sentiment improves. Only prime assets with long income can be expected to remain stable but are unlikely to be attractive to investors seeking above average returns.”

 

Debt Finance

The availability of debt financing continues to pose a serious issue for commercial property investors.

Lenders are pricing the risk aggressively, and margins are considerably higher than have been seen historically, resulting in a relatively high overall cost of finance, particularly for anything that is less than prime.

This lack of finance has increasingly put pressure on asset pricing, with investors often unable to source the debt required, or at such high cost that values are deflated further.

Richard Higgins commented: “As always in these secondary markets, “cash is king”, and vendors not using leverage, or only requiring minimal debt, are put in increasingly strong negotiating positions.”

-Ends-

Notes to Editor

For further information please contact Jenny Kumar of JK Consultancy on 07989 5571989 or email jenny@jkconsultancy.com

CKD Galbraith – www.ckdgalbraith.co.uk

CKD Galbraith is an independent property consultancy specialising in serving the needs of private clients. It employs over 180 people in offices in Edinburgh, Stirling, Perth, Cupar, Inverness, Aberfeldy, Castle Douglas, Ayr, Elgin, Galashiels, Kelso and Peebles.

The firm provides the full range of property consulting services across the commercial, residential and rural sectors throughout Scotland. The company enjoys a successful relationship with its associate firm in London, CKD Kennedy Macpherson.

CKD Galbraith’s commercial arm delivers partner-led commercial property intelligence across a range of services, including property and asset management, professional services, investment consultancy, sales, lettings and acquisitions, project co-ordination, facilities management and building surveying.

CKD Galbraith

CKD Galbraith wins exclusive management appointment for The Charlotte Square Collection

CKD Galbraith has been appointed to manage a portfolio of 19 townhouse office buildings in Charlotte Square, Edinburgh on behalf of The Charlotte Square Collection.

The win sees Scotland’s leading independent property consultants managing almost half the properties at this prestigious address in Edinburgh’s New Town.

The Charlotte Square Collection is the largest single property owner on the Square and has a vision to restore the commercial fortunes of the Georgian masterpiece.

Corran Properties Ltd, on behalf of Fordell Estates Ltd, is regenerating the properties in phases, to create first-class office accommodation designed with leading financial sector companies in mind.

In line with this, CKD Galbraith’s role as managing agents will be to provide exceptional, five star management service that meets the demands of modern commercial occupiers.

The current development phase comprises the reinvention of six substantial townhouses on the south side to create four new properties – numbers 26, 28, 30 and 31 Charlotte Square – that will connect period office space to new open-plan accommodation.

Edward Holt, Partner at CKD Galbraith, said: “ This is one of the most exclusive portfolios in Scotland where our remit will be to provide a first-class service to occupiers that extends beyond the traditional reach of management services. It’s a unique project, particularly in this economy, and we’re delighted to be part of the team.”

Nick Ball, Director at Corran Properties, said: “The appointment of CKD Galbraith underlines our commitment to provide the best in class service at every stage within The Charlotte Square Collection.”

-ENDS-

Notes to editor

Issued by JK Consultancy of behalf of CKD Galbraith. For further information please contact Jenny Kumar on 07989 557198 or jenny@jkconsultancy.com

About CKD Galbraithwww.ckdgalbraith.co.uk

CKD Galbraith is an independent property consultancy specialising in serving the needs of private clients. It employs over 180 people in offices in Edinburgh, Stirling, Perth, Cupar, Inverness, Aberfeldy, Castle Douglas, Ayr, Elgin, Galashiels, Kelso and Peebles.

The firm provides the full range of property consulting services across the commercial, residential and rural sectors throughout Scotland. The company enjoys a successful relationship with its associate firm in London, CKD Kennedy Macpherson.

CKD Galbraith’s commercial arm delivers partner-led commercial property intelligence across a range of services, including property and asset management, professional services, investment consultancy, sales, lettings and acquisitions, project co-ordination, facilities management and building surveying.

ckd39

CKD Galbraith hosts sparkling social at Carluccio’s Glasgow

More than 80 guests piled into Carluccio’s on West Nile St in Glasgow for CKD Galbraith’s wine tasting and light supper event last night (Wednesday, November 14th).

Hosted by the building surveying and commercial team, the social event was held in the very building where the firm is so involved across all five floors – from dilapidations and project management to fit out – and allowed guests to hear about the work the team is doing elsewhere in Glasgow and the West.

With the help of sommelier Mike Stocks, clients, associates and colleagues from the commercial property world got the chance to enjoy a range of fine Italian wines and canapés with a twist in the twinkly surroundings of the Italian restaurant, food shop and deli, which opened this time last year.

There was good-humoured controversy when it was announced that the mystery wine tasting competition had two winners – Ryden’s Ken McInnes and CKD Galbraith’s own Pam Over – who each took home a magnum of fine Italian Prosecco.

Martin Cassels, Partner of the Building Surveying team who spoke at the event said: “It was great to have the event in the building where so much work has been taking place. The wine and conversation was still flowing after 11pm, testament to the wonderful atmosphere and delicious food and drink offered by Carluccio’s in such lovely surroundings.”

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Stirling Bull Sales Medal

United Auctions introduces new Judge’s Medal by Iona Crawford at Stirling Bull Sales

United Auctions (UA) have commissioned one of Scotland’s most exciting artist designers to create an exclusive medal for Judges in honour of the first, official Stirling Bull Sales.

Iona Crawford, who is originally from Stirling and works internationally as an artist and fashion designer, was specially commissioned by Scotland’s leading livestock auctioneers to design the medal, which commemorates the Judges’ important role in the national event.

The Stirling Bull Sales will take place at UA’s Stirling Agricultural Centre from Monday October 22nd to Wednesday October 24th 2012 with 875 pedigree bulls and females on show and sale.

Iona Crawford grew up at Craigend Farm near Stirling, which is still worked by her parents Willie and Evelyn.

After graduating with a first class honours from Edinburgh College of Art she has gone on to establish an international reputation as a designer, working within both the fashion and luxury interiors industries. Drawing inspiration from the beauty and diversity of the Scottish countryside, Iona’s painterly practice is stimulated by her artistic impression of her surrounds.

In September of this year she spent time in New York, exhibiting during Mercedes Benz Fashion Week, Home Fashion Market Week and the Hamptons Fashion Weekend. After a brief few days back in Glasgow, Iona flew out to Chicago where she was invited to represent Scotland as part of a cultural trade delegation during the Ryder Cup.

Moulded in antique gold each of the 60mm diametermedals depicts the head and shoulders of a champion bull – complete with a rosette – against a backdrop of Stirling’s iconic landscape, including the Wallace Monument, Stirling Castle, the Craigforth Crag and Dumyat leading down to the Rivers Teith and Forth, which converge near the Agricultural Centre.

The medals will be presented to each of the seven Judges in a handcrafted Bury Elm wood box lined with green tweed. Each Judge’s name will be engraved on the reverse of the medal alongside the month and date of the Sales.

Neil McLean, UA’s Group Joint Managing Director who led on the project, said: “The introduction of the Judge’s Medal is an important new feature for the Stirling Bull Sales and, as far as we’re aware, is the first of its kind. It is a mark of respect for the Judges and their considerable knowledge, experience and skill.

“It’s been a real pleasure working with Iona on this project. Her passion for what she does is infectious and we’re delighted with the design, which perfectly tells the story of the Stirling Bull Sales.”

Iona Crawford said: “Whilst work dictates that I often travel internationally to promote my brand, at heart I am a Stirling farmer’s daughter and enjoy returning regularly to help out at Craigend and to hear what’s new on the farm.

“I have developed a deep love and fondness for the agricultural way of life which will never leave me, so I was honoured and delighted to be invited to design these unique medals.”

Stirling Bull Sales’ highlights

The Autumn Sales sees the largest entry of Beef Shorthorn heifers forward to date at the Autumn event – 122 in total will go under the hammer on Monday October 22nd.

On the same day, there will be a major reduction of the high-achieving Mosston Muir herd of pedigree Aberdeen Angus from Tom and Joyce Rennie of Forfar, which has won the Walker Shortbread Trophy seven times.

To mark the close of the Charolais Cattle Society’s Golden Anniversary year, Michel Baudot

President of Herd Book Charolais, will be welcomed from Magny-Cours in Central France to judge the Charolais entries on Tuesday October 23rd.  He will be the first Charolais Judge to receive the new Judge’s Medal.

In addition, two charity auctions of paintings will take place during the Sales with two paintings of Beef Shorthorn cattle raising funds for the Strathcarron Hospice while the RSABI will be supported by the auction of two further paintings of bulls and a part-set of Aberdeen Angus Herd Books.

The agricultural charity will also have a trade stand at the Sales to raise funds for their support services.

David Leggat, UA’s Executive Chairman, said: “We’re delighted with the number and quality of entries on show and sale for the Stirling Bull Sales.

“Working with the breed societies, we strive to improve animal health and we’re proud that virtually all cattle entered have a health status declaration detailed in the catalogues.”

Mr Leggat continued: “We’re particularly pleased to have the continued support of our long-standing sponsors of the October event CKD Galbraith, whose National Farm Sales Office is based at the Centre and with whom we work closely on a number of projects.”

Full catalogue details for the Sales are available on the pedigree page of UA’s website www.uagroup.co.uk along with access to the live webcam.

-ENDS-

NOTES TO EDITOR

  • Medals will be presented to each Judge at a private lunch or dinner following their respective show.
  • Opportunities for photographs of the event are available from Sunday October 21.st

 

Judges
Aberdeen Angus – Wanda Hobbs, 5 Wedderlie Cottages, Gordon TD3 6NW

Beef Shorthorn – David Scarth, Twatt Farm, Birsay, Orkney KW17 2LN

Limousin – Steven Priestley, Cracrop, Kirkcambeck, Brampton CA8 2BW

British Blue – Kenneth Veitch, Drumlone, Lisbellaw, Co. Fermanagh, Northern Ireland BT94 5PN

Salers – Graham McClymont, Cuil, Palnure, Newton Stewart DG8 6BL

Simmental – Harold Stubbs, Derrycallaghan, Crummy, Lisnakea BT92 0PJ

Charolais – Michel Baudot, Agropole Du Marault, 58470 Magny-Cours, France

Show and Sale programme

Sunday 21st October
08.30 Aberdeen Angus bull inspection
10.00 Beef Shorthorn bull inspection
10.30 Limousin bull inspection followed by British Blues
12.00 Simmental bull inspection
14.30 Charolais bull inspection
Monday 22nd October
08.00 Show of Aberdeen Angus females followed by bulls
10.30 Show of Beef Shorthorn females followed by bulls
12.30 Sale of Aberdeen Angus bulls (88) & Beef Shorthorn bulls (27)
13.00 Show of Limousin females & Limousin bulls followed by Salers & British Blue bulls
14.30 Sale of Aberdeen Angus females (108)
16.00 Sale of Beef Shorthorn females (126)
17.00 Sale of Limousin bulls (115), Salers bulls (9), British Blue bulls (5) & Blonde (3), followed by Limousin females (10) & Salers females (16)
Tuesday 23rd October
08.00 Show of Simmental females followed by bulls
13.00 Show of Charolais females followed by bulls
13.30 Sale of Simmental females (25)
14.00 Sale of Simmental bulls (139)
Wednesday 24th October
10.30 Sale of Charolais bulls (172) followed by females (32)

About United Auctions – www.uagroup.co.uk

United Auctions (UA) are Scotland’s leading livestock auctioneers and procurement specialists and operate a network of different auction markets across Scotland, including Stirling, Huntly, Lairg, Dalmally, Tiree, Islay, South Uist and an area office and lairage facility at Oban. The company conducts auctions of both commercial and pedigree livestock, including the world-famous Stirling Bull Sales (previously known as the Perth Bull Sales) and provides farm-to-farm and farm-to-abattoir procurement services.

Issued on behalf of United Auctions by JK Consultancy. For further information please contact:

United Auctions – Jenny Kumar, JK Consultancy on 07989 557198 or jenny@jkconsultancy.com

Iona Crawford – Colin Grant, Spectrum PR on 07411 697666 or colin.grant@spectrumpr.co.uk

Crichton House

CKD Galbraith Lets Final Suite at Crichton House to National Charity

Acting on behalf of Merse Properties Ltd, CKD Galbraith has successfully let the final office suite at Crichton House in Edinburgh to national homelessness charity Crisis for their first office in Scotland.

The charity has taken the remaining west office suite, which extends to 1,131 sq ft, on the second floor of Crichton House in Edinburgh’s old town for a six-year term at a rent of £20 per sq ft.

Situated in the Holyrood area of Edinburgh, midway between the historic Royal Mile and the Scottish Parliament, Crichton House is a modern open plan office development that was acquired for the private owner by CKD Galbraith in an off-market deal for £1.62million last year.

It is also home to five fellow occupiers, including the Scottish Building Employers Federation and MacKay Hannah Ltd.

The charity has now moved three initial members of staff into their new capital office in a significant expansion north of the border. Four more staff are due to join the team later this year with plans for further staff next year.

Seb Findlay of CKD Galbraith, who were instructed to market the remaining vacant suite following the building’s acquisition, said: “It’s very satisfying to achieve a fully let building in this continuing difficult market and we’re particularly pleased to have maintained a headline rent for good covenant with this established national tenant.”

Leslie Morphy, Chief Executive of Crisis, commented that the situation of the office, close to both to the Scottish Parliament and the Old Town is an excellent location for the charity.

She said: “As the national charity for single homeless people, Crisis has been working in Edinburgh for a number of years primarily offering support to local authorities and the private rented sector. Locating the team in the excellent surroundings of Crichton House enables us to significantly expand our Crisis Skylight Edinburgh team and focus further on the campaigning and policy work that we already undertake on Scottish policy issues.”

-ENDS-

Notes to editor

  • The full address is Crichton House, Crichton Close, Holyrood, Edinburgh EH8 8DT
  • Since 2010 Crisis has been developing Crisis Skylight Edinburgh, one of their award winning and accredited education, training and employment services in partnership with the Grassmarket Community Project. They are working together on a building project to develop a major new learning centre due to open next year with dedicated space for Crisis to provide an expanded programme of Skylight activities.

For further information please contact Jenny Kumar of JK Consultancy on 07989 5571989 or email jenny@jkconsultancy.com

CKD Galbraith – www.ckdgalbraith.co.uk

CKD Galbraith is an independent property consultancy specialising in serving the needs of private clients. It employs over 180 people in offices in Edinburgh, Stirling, Perth, Cupar, Inverness, Aberfeldy, Castle Douglas, Ayr, Elgin, Galashiels, Kelso and Peebles.

The firm provides the full range of property consulting services across the commercial, residential and rural sectors throughout Scotland. The company enjoys a successful relationship with its associate firm in London, CKD Kennedy Macpherson.

CKD Galbraith’s commercial arm delivers partner-led commercial property intelligence across a range of services, including property and asset management, professional services, investment consultancy, sales, lettings and acquisitions, project co-ordination, facilities management and building surveying.

Layout 1

Development Land For Sale Opens Potential For New Stirling Business Community

A parcel of land is now available for sale that offers a significant opportunity to develop a major new business community in Stirling.

Joint agents CKD Galbraith and Thursz Property Consulting are marketing the 19.5-acre site on behalf of Moto Hospitality Ltd.

Located adjacent to Moto’s Stirling motorway service area off Pirnhall roundabout at junction 9 of the M9/M80 motorway, the land comes with ‘minded to grant’ planning consent to create a new business park on the south side of Stirling for a mixed use office and leisure development.

The site, which is accessed through the service area where fuel, restaurant and overnight accommodation is available, boasts excellent road, rail and air communications with over half of Scotland’s population living within 60 minutes’ drive from Stirling’s city centre.

Straddling both the M9 and M80 motorways, the land is accessed by direct road links to Glasgow, Edinburgh, Perth, Dundee and the Central Belt.

Stirling’s railway station provides regular services to Glasgow, Edinburgh and beyond, and the capital’s airport is only a 30-minute drive away with Glasgow International Airport accessible in under 60 minutes.

The site has detailed planning permission, subject to a Section 75 agreement, for 174,330 sq ft for Class 4 offices and 17,700 sq ft for Class 11 leisure buildings and associated infrastructure, including more than 560 parking spaces.

As one of Scotland’s fastest growing areas, Stirling is a business location of choice for major companies including HSBC, Prudential and Stirling University. As well as its excellent links to other parts of the country, the area’s spectacular scenery, with its panoramic views of the Wallace Monument and Stirling Castle, has seen SEPA, Scottish Institute of Sport and Association of Scottish Colleges recognise it as an ideal location for corporate headquarters.

In addition to its thriving business community, the city has a strong retail and tourism industry. The gateway to Loch Lomond and Trossachs National Park, Stirling offers a dynamic mix of heritage and contemporary University culture that attracts more than 4.5 million visitors each year.

David Thursz of Thursz Property Consulting said: “This is a major development opportunity right in the centre of Scotland. Its excellent transport links and position between the cities of Edinburgh and Glasgow will be a huge benefit in attracting new, established and relocating companies and their workforces to the area.”

Richard Higgins, Partner at CKD Galbraith, said: “Stirling’s recent development history is incredibly positive, with the success of the Castle Business Park and United Auctions’ Stirling Agricultural Centre, both situated at the next junction to the north, demonstrating the appeal of the area to a wide-ranging occupier base, including national public sector companies.”

For further information please contact Richard Higgins on 0131 240 6960 or David Thursz on 01620 810726. Price is available on application.

-ENDS-

Notes to Editor

  • Picture caption: Aerial view of the development land for sale at Pirnhall, Stirling – available on request

For further information please contact Jenny Kumar of JK Consultancy on 07989 5571989 or email jenny@jkconsultancy.com

CKD Galbraith – www.ckdgalbraith.co.uk

CKD Galbraith is an independent property consultancy specialising in serving the needs of private clients. It employs over 180 people in offices in Edinburgh, Stirling, Perth, Cupar, Inverness, Aberfeldy, Castle Douglas, Ayr, Elgin, Galashiels, Kelso and Peebles.

The firm provides the full range of property consulting services across the commercial, residential and rural sectors throughout Scotland. The company enjoys a successful relationship with its associate firm in London, CKD Kennedy Macpherson.

CKD Galbraith’s commercial arm delivers partner-led commercial property intelligence across a range of services, including property and asset management, professional services, investment consultancy, sales, lettings and acquisitions, project co-ordination, facilities management and building surveying.

Kinross-site (email)

Multi-Million Pound Redevelopment Offers Retail Appeal in Kinross

A major redevelopment of Moto’s Kinross motorway service station is set to offer real appeal to retailers and tourism operators alike.

As part of the improvements, eight new retail letting units, each extending to 3,000 sq ft are being marketed by joint agents CKD Galbraith and Thursz Property Consulting on behalf of Moto Hospitality Ltd.

Located at J6 of the M90 motorway, the multi-million pound redevelopment of the 12-acre service station will comprise the new retail letting units, a new petrol station and amenity building with anchor tenants Moto, BP, M&S Simply Food, WH Smith, Burger King and Costa.

This gateway location with its proximity to St Andrews, the home of golf, provides an ideal opportunity for tourism and field sports retailers to cater for the passing golf trade as well as the hunting, shooting, fishing markets en route to the Highlands.

Only 40 minutes from Edinburgh and Glasgow, the service area, which is adjacent to Dobbies Garden Centre and on the same site as budget hotel company Travelodge, is already a busy stopping point for more than 650,000 commuter vehicles each year.

And its location on the doorstep of Scotland’s most successful music festival, T in the Park, sees a welcome summer boost of around 80,000 visitors.

Richard Higgins, Partner at CKD Galbraith, said: “This is an exciting retail opportunity in an ideal location. Situated in the heart of Scotland, it forms an important, strategic stop on the main motorway network between Perth and Edinburgh. The benefit from peak summer trade for T in the Park will no doubt appeal to retailers wishing to take advantage of this significant passing footfall.”

David Thursz of Thursz Property Consulting added: “Moto’s substantial investment in the travel infrastructure demonstrates confidence in their offer, the local market and their ability to attract big brands to the area. The new, fit-for-purpose facility will meet the needs of the modern day traveler and the local market, benefitting everyone.”

For further information and to express your interest, contact Richard Higgins on 0131 240 6960 or David Thursz on 01620 810726. Prices available on application.

-ENDS-

 

Notes to Editor

  • Picture caption: Aerial view of the planned redevelopment at Kinross
  • The site is the furthest north of the Moto offerings, which became the newest name on Britain’s motorway network in 2001.

For further information please contact Jenny Kumar of JK Consultancy on 07989 5571989 or email jenny@jkconsultancy.com

CKD Galbraith – www.ckdgalbraith.co.uk

CKD Galbraith is an independent property consultancy specialising in serving the needs of private clients. It employs over 180 people in offices in Edinburgh, Stirling, Perth, Cupar, Inverness, Aberfeldy, Castle Douglas, Ayr, Elgin, Galashiels, Kelso and Peebles.

The firm provides the full range of property consulting services across the commercial, residential and rural sectors throughout Scotland. The company enjoys a successful relationship with its associate firm in London, CKD Kennedy Macpherson.

CKD Galbraith’s commercial arm delivers partner-led commercial property intelligence across a range of services, including property and asset management, professional services, investment consultancy, sales, lettings and acquisitions, project co-ordination, facilities management and building surveying.

Pamela Gray web res

CKD Galbraith Forecast Importance of Asset Management Expertise in Uncertain 2012

Pamela Gray, Richard Higgins and Ian Forbes of Scottish independent property consultants CKD Galbraith offer their predictions for the commercial property investment market in 2012.

2011 was a tricky year for the commercial property market: fewer transactions, a widening yield gap between prime and secondary assets, risk-wary investors continuing to sit on their hands and continued restricted availability of bank funding. Then add to the mix the Eurozone crisis at the end of year, which saw the market weakened further by increasing uncertainty. On a positive note, there were fewer distressed sales than anticipated.

2012 looks set to be equally challenging.

Richard Higgins, Commercial Investment Partner at CKD Galbraith, said: “Adopting a holistic approach to investment, agency and asset management is required for 2012. More than ever, it’s absolutely vital to work assets hard to maintain income and value.”

Political uncertainty
The Eurozone crisis remains unresolved, resulting in further market uncertainty. An unravelling, breakup or default of the Eurozone is still a possibility, leaving the UK exposed. Recent pressure from Westminster to force the Scottish Independence referendum highlights this political and structural uncertainty. However, looking at long-term historic returns, there is an opportunity for purchasers with cash or affordably funded debt to make strategic medium and long-term acquisitions.

As ever, careful selection and management of assets is imperative.

Lack of supply
While the London and South East markets experienced higher transactional activity driven in part by foreign investment, activity in the regions and Scotland was limited, particularly in secondary markets.

Looking ahead, development activity will be limited due to lack of funding and the reluctance of developers to take the risk of promoting schemes through the planning process. The effect in the medium term will be a shortage of space just as market demand increases.

Richard Higgins continued: “The lack of development in conjunction with aging stock may stretch the definition of prime in the medium term, resulting in cautious investors looking at opportunities that are currently considered as more secondary or even seeking alternative asset classes. If this coincides with the banks loosening their reins and looking to compete for market share, it should lead to an improvement in the secondary market. However, this is looking far into the future.

“Conversely, there is concern that distressed secondary property will be released to the market in some volume from either lenders or speculators who are purchasing portfolios of bank controlled stock currently. This could effectively neutralise any upturn.”
Widening yield gap between prime and secondary
Since the end of 2010, prime yields have stabilised to levels similar to those seen pre-downturn. In contrast, secondary yields have continued to soften.

Ian Forbes, Associate Investment Agent at CKD Galbraith, said: “Many investors remain of the view that the yield gap between prime and secondary is not worth the risk. It’s this contrast between prime and secondary where the real problem lies, with significant activity almost solely limited to prime stock.”

2011 saw secondary and regional stock continue to suffer with yields moving out and extremely limited demand for short unexpired lease terms or poor covenants.

Ian Forbes continued: “Highly geared, risk-taking purchasers have been out of the market since 2008, which has coincided with the lack of secondary demand. Investors in this market have many investment opportunities and expect substantial returns for their effort and the risk. For the secondary market to improve in the short term, funding must become available and affordable once again. However, as many of the traditional funders are simply not lending, we see little scope for change in 2012.”

Occupier market – The two-tier investment market shadows a two-tier occupier market across all sectors with the secondary occupier market remaining generally very weak, albeit there are pockets of continued growth across all sectors, depending on the location.

Indeed, prime rental growth has moved back to zero, which is an improvement on previous negative growth.

Local markets will drive occupier demand.

It is not clear where capital values will be this year. There is potential for further reductions, however, this is wholly dependent on local market and supply and demand.

An interesting sub-market is the demand for investments with leases containing rent reviews linked to RPI, with institutions in particular seeking these reviews as a hedge against inflation.

Asset Management
In line with this, Pamela Gray, Partner in charge of CKD Galbraith’s Commercial Asset Management division says that it will largely be down to the skill of the Asset Manager during 2012 to maintain value and marketability of property assets.

She said: “Looking after the needs of existing tenants has always been our mantra, and in these difficult and highly competitive times, the relationship between landlord and tenant is of paramount importance. There is a growing appreciation that landlords and tenants need to work together, not in conflict, and the best relationships will benefit both parties.”

Landlords are bitterly aware of the impact of void holding costs on their investments. Equally, tenants can find landlords far more receptive, in the current climate, to restructuring their existing leases, making asset management opportunities, for those with the appropriate skills, the most likely area of activity for the year.

However, contrary to popular belief, the balance of power has not shifted wholly to tenants. Covenant strength is fundamental to landlords and their lenders, and in the majority of cases the tenant will be required to give detailed evidence of their worth, or at the very least, offer a reasonable deposit in order to facilitate some of the imaginative deals currently on the table.

Pamela Gray said: “These are interesting times for those of us in the property world. It is the focused players who are able to identify the opportunities, which are likely to be acceptable to both sides.”

-ENDS-

Notes to Editor
For further information please contact Jenny Kumar of JK Consultancy on 07989 5571989 or email jenny@jkconsultancy.com

CKD Galbraith – www.ckdgalbraith.co.uk
CKD Galbraith is an independent property consultancy specialising in serving the needs of private clients. It employs over 180 people in offices in Edinburgh, Stirling, Perth, Cupar, Inverness, Aberfeldy, Castle Douglas, Ayr, Elgin, Galashiels, Kelso and Peebles.

The firm provides the full range of property consulting services across the commercial, residential and rural sectors throughout Scotland. The company enjoys a successful relationship with its associate firm in London, CKD Kennedy Macpherson.

CKD Galbraith’s commercial arm delivers partner-led commercial property intelligence across a range of services, including property and asset management, professional services, investment consultancy, sales, lettings and acquisitions, project co-ordination, facilities management and building surveying.