Where - and with whom - we’ve been working
If any of these true stories stirs your imagination, simply go to the Contact page and email james@newtonscott.com - or ring James Scott on 023 8033 7033.
Lease assignment on popular Romsey Business Park:
Newton Scott, instructed by Garmin (Europe) Ltd., has disposed of 13,823 square feet of superb, modern warehouse and office accommodation to Schlumberger. The lease expires in March 2015 at a rental figure of £88,750 per annum.
Bob French of Garmin said:
"We granted instructions on this and three other units to James Scott of Newton Scott which became surplus once we had relocated to our new premises in Totton (which James handled). Whilst this unit proved the most difficult to dispose of, partly due to market conditions, he maintained a determined and diligent approach throughout the lengthy negotiations, and the end result proved his time was well spent.
We are of course grateful for his experience and in-depth knowledge of this market, a subject none of my colleagues knew much about."
Another lease assignment on popular Romsey Business Park:
Newton Scott, instructed by Garmin (Europe) Ltd., has disposed of 5,285 square feet of superb, modern warehouse and office accommodation at 3 The Quadrangle, Abbey Park Industrial Estate, Romsey to Luhrs Marine who relocated from Portland in Dorset. The lease expires in March 2015 at a rental figure of £34,281 per annum.
Bob French of Garmin said:
"We granted instructions to James Scott of Newton Scott to find a new occupier of this unit which had became surplus once we had relocated to our new premises in Totton (which James also handled). We secured a lot of interest fairly rapidly which in turn resulted in agreeing terms and an assignment to this well established American manufacturer of Powerboats. We are of course grateful for James for his long standing experience and in-depth knowledge of this market, a subject my colleagues knew little about."
Substantial warehouse investment acquired in Totton, Southampton
Newton Scott has, with the help of London based property contacts, acquired for clients a late 1980's built 55,789 square foot four bay industrial unit.
Units 6/9 South Hants Industrial Estate, Totton, Southampton was held on a full repairing and insuring lease expiring in August 2015, subject to a rent review in 2010. The passing rent was £336,750 per annum.
The freehold interest was owned by Morley Fund Management, on behalf of Norwich Property Trust, and was acquired by Ankers & Rawlings, based in Wimborne, Dorset.
A price of £3.86 million was concluded within a fortnight of reaching an agreement. A purchase at this level reflects a net initial yield of 8.2%.
Kelvin Rawlings of Ankers & Rawlings commented:
"We are always in the market for opportunities such as this and have the funds available to buy without recourse to secondary funding. We are of course delighted with the outcome and especially to James for smoothing out the hurdles that were encountered during negotiations."
Office investment acquired in Southampton City Centre with future development potential.
Newton Scott, commercial property consultants, has acquired the above city centre office investment for a private investor. The building, totalling some 16,534 square feet, is leased on full repairing and insuring basis for a term of 43 years from October 1972 to PriceWaterhouseCooper LLP. The passing rent of £118,400 per annum, is subject to a rent review in January 2009.
A price of £1.6 million was paid reflecting a net initial yield of 7.0%.
Kevin Jones added:
"This purchase provides a highly secure source of income added to which there are redevelopment opportunities at the end of the lease. I contacted a number of local commercial property agents, few responded, but I am pleased to say that James introduced me several alternatives, and at the end of the day I decided to press ahead with this one."
New industrial investment acquired on expanding Osprey Quay, Portland, Dorset.
James Scott, principal of Newton Scott, commercial property consultants based in Southampton, has acquired the above industrial investment for a private investor. The building totalling some 10,631 square feet, was constructed by ROK Construction, and will be leased on full repairing and insuring basis to G3 Systems Ltd., for a term of ten years. The initial rent will be £63,250 per annum (£5.95 per sq.ft.), subject to a rent review at the end of the fifth year. A price of £790,000 was paid reflecting a net initial yield of 7.57%.
Kevin Jones added:
"This is one of the best investments I have acquired this year and will be retained in our portfolio for a long term hold. James has managed to unearth another opportunity for which I was pleased of his involvement from start to finish."
Baby Clothes cost less in Gloucester
Sheldon International Ltd., - creators of some of the world’s most wanted baby clothes – needed suitable investment opportunities in the South and Midlands.
In 2005, we found them a 60,000 square feet industrial investment in Gloucester. Having surveyed the unit we negotiated a price below the £3 Million price originally quoted.
We now manage the building and are involved with a partial refurbishment program.
“We instructed Newton Scott to advise on a possible purchase of this unit. Without James’s ability to assess the value of these premises and his tough negotiating stance we would have overlooked its future potential.”
Hasmukh Tanna, Managing Director of Sheldon International, Leicester.
A Fareham Office Relocation task
A European software product support company based in Fareham contacted us seeking some 4,000 – 5,000 square feet of high quality office space with parking.
A full search was embarked upon contacting commercial property agents and developers both locally and further a-field. Information was collated, rental and lease term advice was provided and several possibilities were inspected.
A shortlist was then drawn up and terms were finally agreed to acquire a lease on a new two storey office building on Solent Business Park.
“James’s attention to detail, excellent local and national contacts and in-depth knowledge of the buoyant M.27 office market place enabled this transaction to reach our desired
conclusion.”
Audrey Meeson, Office Manager and European Purchasing Manager, Omron Electronics Ltd., Fareham.
World GPS leader on course for expansion.
Garmin Europe Ltd., world-famous for manufacturing land, sea and air global navigation systems, originally found their way to us in June 2005, seeking 100,000 sq. ft., within a ten mile radius of their existing premises.
We quickly found a modern, virtual freehold, “high-bay” industrial unit of about 125,000 square feet and negotiations were opened. When eventually this proved too small we secured another building of just under 160,000 square feet. Only four years old, the premises also benefited from planning to extend by an additional 65,000 square feet.
Equally important, we achieved completion within a tight twelve week timetable!
We now have the task of disposing of their existing accommodation, some 35,000 square feet of modern industrial space in Romsey.
“Without James’s tenacity, expertise and contacts I question whether we’d have ever moved in the time available!”
Ian Smoker, European Facilities and Purchasing Manager, Garmin Europe Ltd., Southampton.
Solicitors based in Southampton and Romsey, appointed us to advise them on a rent review due in December 2005.
We inspected the accommodation, measured it, assembled comparable local rental evidence to support our views, and advised our clients accordingly.
The outcome was that our clients agreed acceptable terms that reflected a double figure percentage reduction.
“James’s long standing and intimate knowledge of the office rental market in central Southampton, added to his excellent contacts, resulted in a swift and satisfactory conclusion to these negotiations.”
Ken Flookes, Partner of Footners, Southampton.
Rising to the Challenge!
Richard Harsher (Bookbinders) Ltd. - a long established firm based on a popular and modern Business Park near the M.27 - instructed us to identify an investor prepared to buy their freehold premises in a “Sale & Leaseback” transaction.
Although their stated terms seemed nigh-on unachievable, we marketed the property both nationally and locally. We received a huge response, carried out many inspections and fielded several very attractive offers.
The outcome was that we found a purchaser who completed within four weeks of their first inspection.
We were well aware that our terms were demanding which was one of the reasons we approached Newton Scott. James, with his excellent contacts, good knowledge of the investment market and his tough negotiating stance, produced the required results in short time.”
Paul Quinn, Director of Richard Harsher Bookbinding Ltd., Romsey.
Long sought after search concluded in Taunton
Newton Scott, acting on behalf of Goodliffe Estates, a family-owned private investment fund, has acquired the freehold of the Forays Ford car showroom and workshops on Priorswood Industrial Estate, Taunton. A figure marginally below the asking price of £2.25 million was agreed, representing a net initial yield of 6%. There were compounded rental increases contained within the lease which expires in March 2026.
“James (Scott) has demonstrated his talent for tenacity in both identifying this (plus several others before!) and negotiating terms that led to a satisfactory conclusion, in what is a very heated market. We are delighted with the final outcome.”
Richard Holgate of Goodliffe Estates.
29, 30 and 31 Liberty Close, Wimborne:
Newton Scott, acting on behalf of Eberspacher UK Ltd., the UK distribution
arm of a German manufacturer of heating and air conditioning products aimed
at the vehicle and marine markets, has acquired a new lease on 29, 30 and 31
Liberty Close, Woolsbridge Industrial Estate, Wimborne. The total floor area
amounted to just under 10,000 square feet and the rent agreed was £67,300
per annum which reflects a realistic £6.75 per sq.ft. Additional incentives
were secured.
"James (Scott) negotiated terms that led to an excellent conclusion, in what
is a very short supplied market"
Russell Brown, Managing Director of Eberspacher (UK) Ltd.