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HNF Property > Blog > 2019 > March

Archive: (3)

Mar
21

HNF Property to offer Residential and Commercial Surveys

HNF Property are pleased to announce that they are now undertaking surveys of both residential and commercial properties on behalf of clients.


PROBLEM HOUSE

SHOP AS VACATED BY TENANT

On residential property, we are now not only able to undertake a valuation but we can provide Type 1 and Type 2 Homebuyers’ Reports, Structural Surveys and reports on individual defects, if required.

For commercial clients, we can also undertake Structural Surveys and, in addition, we are now able to prepare Schedules of Condition and can prepare and negotiate on Schedules of Dilapidations. Reports and schedules can be prepared independently or as part of an overall negotiation from instruction to settlement.

Our reports provide straightforward no-nonsense advice dependent on the type of Survey chosen reports can be accompanied by photographic evidence enabling the client to see and easily understand our findings and advice.

Tailored to the specific purpose and client, reports can incorporate rental valuation, capital valuation and advice on lease terms, liabilities, etc.

For further information and fee quotes, contact J A Naylor MRICS on 020 8766 0123.

Mar
21

World’s tallest modular building under construction in Croydon

Modular construction is becoming increasingly common in the UK and enables the quick and economical construction of large residential or commercial projects using off-site prefabricated units, or modules, complete with electric and plumbing services, furniture and windows.

Over the last few months it has been hard to miss the rapid rise of the two towers at 101 George Street which now dominate East Croydon’s skyline. As a result of a joint venture between Greystar and Henderson Park, the finished towers will reach 44 and 38 storeys respectively and will, on completion, be the largest modular buildings in the world. The complex will contain an art gallery, roof gardens and a hub for local businesses and is expected to be complete in 2020.

The construction time, for this project, is expected to take only 24 months and the finished project will comprise 550 residential units. The modules are constructed in a factory in Bedford and then transported to site to be lifted into place by crane.
Greystar claim that the modules are produced using up to 80% less waste than the traditional alternative. The speed of construction and prefabricated nature of the units allows for a minimum period between off plan purchase and the property being ready for occupation, perfect for the investor.
This project is not the only modular development in Croydon, the construction of a 21-storey building on Addiscombe Road is set to be completed in Spring 2020 and will offer over 300 units with 153 affordable homes. Planning permission has also been granted for two further 24 and 26 storey towers on Dingwall and Wellesley Road. These projects form part of a wider renaissance in Croydon with the ongoing Ruskin Square development, renovation of the Fairfield Halls and the planned expansion of Crystal Palace football stadium.
Mar
06

Changes in the High Street can add Value

Over the course of the last few years, HNF Property Commercial Agency Team have been successful in improving tenant occupation in shops that we let and/or manage and this has had a dramatic effect on the value of the assets concerned, increasing their value by as much as fifty per cent.

Back in the 1990s, it was the battles between Blockbuster and Ritz Video. As the decade grew on, it was the large corporate estate agents and companies such as Prudential and Lloyds Bank that entered the market. Paddy Power and William Hill competed as betting shops sought to get a foothold and more recently, it has been coffee shops and food retailing outlets, particularly supermarkets’ little brother, the convenience store.

Both the increases in rent and the greater value that is attributed to a PLC covenant (reducing the yield that an investor would require) can create a significant increase in the capital value of a unit.

Those competing and with deep pockets, often pay higher rents than it is typical in a local suburban location and their strength of covenant reduces risk and increases capital value further as a result.

In the past you would not have found a Dentist nor a Solicitor in the High Street. Few would have bet on a Nail Bar or Dog Groomer occupying retail space and nobody could have envisaged uses such as Vape shops or Escape rooms.

So, the High Street is changing but is not dead and understanding grass root trends can generate occupancy, enhance and increase rents and, in turn, drive up value in otherwise difficult to let buildings, and locations.

Over the many years that we have operated in suburban commercial agency, trends have come and gone. Being so close to the market and immersed in it, enables us to give our landlords an opportunity to take an advantage when a new use operator seeks to establish itself on the High Street.

HNF Property has been operating in the London and the South East for over 25 years recognising these trends and applying that knowledge to the benefit our clients.

Please contact Jay Ward or Peter Friend on 0208 681 2000, if you require assistance with any commercial property matter.