With the current success of the UK vaccine rollout, there is hope that we may now be heading towards some semblance of normality.
Against this background, we thought it would be useful to provide an update on how Rougemont’s investor portfolio has performed over the past 12 months and to consider how the property market, in general, may perform over the coming year.
Developers Opus North and Rougemont have submitted outline planning permission for Dalton 49 Thirsk, a new 43-acre logistics park, to Hambleton District Council. Formerly part of RAF Dalton, the site is capable of delivering around 650,000 sq. ft. of much-needed employment space.
Situated next to the existing Dalton Airfield Industrial, Estate the proposed plans will create a regionally significant employment site with hundreds of jobs. The scheme will provide modern buildings and facilities to meet the needs of occupier businesses, employees and investors by the provision of a range of unit sizes and types.
Following the recent completion of the new bridge at Dalton, the site offers excellent access to the A19 and A1. Ryan Unsworth, Development Director at Ilkley-based Opus North, one of the region’s most active developers commented:
“Yorkshire will represent around 30 per cent of all the UK logistics take-up this year, as the region remains so attractive to occupiers. Dalton 49 Thirsk is one of the most connected locations in North Yorkshire and being a cost-effective alternative for occupiers, in comparison to other Yorkshire industrial hubs, we have already had interest from businesses looking for space to improve supply chains or expand into new premises.”
A carefully considered site layout will ensure the development is sympathetic to nearby properties and its wider landscape by incorporating new tree planting, habitats and sustainable drainage features. Dalton 49 Thirsk will be a sustainable, efficient and contemporary addition to the existing Dalton Airfield Industrial Estate.
James Craven, Managing Director of a specialist investment manager, Rougemont said: “We look forward to working closely with Hambleton District Council to achieve an outline planning application for around 650,000 sq. ft. of industrial and distribution accommodation to service the shortage of availability between Leeds and the North East.”
“The location is already home to successful engineering, manufacturing and distribution companies and with the improved transport links it has the potential to provide a significant additional employment boost and facilities to the area,” he continued.
Dalton 49 Thirsk (www.dalton49thirsk.co.uk) is being marketed by joint agents Dove Haigh Phillips and Colliers International.
In January of this year, no one could have predicted that in just a few months the global economy would be brought to an abrupt standstill as a result of a viral pandemic. James and Lynsey offer their views on the current economic situation and a future investment opportunity.
Lockdown and Beyond – Rougemonts investment market assessment
Leading Yorkshire-based commercial property investment company Rougemont Estates has strengthened its team with the appointment of Lynsey Underwood as Investment Manager.
Lynsey, who has moved from Avison Young in Newcastle, joins in Rougemont’s 10th anniversary year.
Lynsey Underwood commented: “I am delighted to join the team at Rougemont Estates. It is an incredibly exciting opportunity for me to become part of such a highly-regarded growing business, whose exceptional track record over the last ten years has led to a growing property portfolio of £120m and a long list of loyal investors.
“I was particularly attracted to the diversity of the role of the investment manager, which includes the sourcing of investment opportunities, driving value from the existing portfolio and managing investors’ interests.
“The prevailing political and economic uncertainty clearly provides its challenges, but I am very excited to be working alongside managing director James Craven and focusing all our efforts on achieving great returns for our investors.”
James Craven added: “It is with great pleasure that I welcome Lynsey to Rougemont Estates. This is a significant appointment, Lynsey’s knowledge, market contacts and commitment will be an invaluable asset to Rougemont.”
Our Winter newsletter is now published and available to download below.
This summarises the events of 2016 for investors and contacts and shares our views on where we see opportunity during 2017….
Rougemont is in the news today with two articles on the recent purchase of Sandgate House on behalf of a private client…
The Property Week article is here (subscribers only I’m afraid)
The Newcastle Chronicle article is available to all here
Photo of Sandgate House on Newcastle waterfront bought by Rougemont Estates on behalf of a private client.
CONGRATULATIONS are in order to Rougemont’s managing director who completed the Royal Ocean Racing Club’s (RORC) Transatlantic Race from Marina Lanzarote to Port Louis Marina, Grenada.
Aiming for a new transatlantic world record and race victory, Mr Craven joined as one of eight guests alongside a professional crew aboard Leopard, an internationally renowned, record breaking, 100ft, Super Maxi yacht.
Leopard crossed the finish line of the RORC Transatlantic Race this morning at 07h 22m 37s GMT taking the line honours in the monohull class. It will be another couple of days before the overall RORC Transatlantic Race trophy winner is announced, with the best corrected time under IRC.
A great achievement by all and Mr Craven commented: “It was an amazing experience and whilst we are naturally disappointed not to break the world record, crossing the line first after such tough conditions is fantastic.”
Dockside at Camper & Nicholsons Port Louis, Grenada: Leopard 3 secures Monohull Line Honours and the International Maxi Association (IMA) Trophy in the 2016 RORC Transatlantic Race © RORC / Arthur Daniel
Rougemont is pleased to confirm the acquisition of a trophy, Grade A office building on a prime water front position on Newcastle’s Quayside, one of the city centre’s principal office locations.
Sandgate House was bought by a private client for £10.5m and is let on a recently renewed 15 year lease to established law firm, Ward Hadaway Solicitors, as their headquarters.
We are delighted to confirm the completion of our biggest syndicate to date with the Marshall Elland Syndicate’s purchase of Landscape House in Elland, West Yorkshire for £8.5m.
The Property is a modern three storey 32,510 sqft, Grade A headquarters on a secure self-contained site built specifically for Marshalls Plc in 2003. The Property is let on a full repairing and insuring lease to Marshalls for another 21 years.
The syndicate income income return will be 7.85% distributed quarterly in advance.
Rougemont is delighted to confirm the £800,000 purchase of a modern 9,361 sq. ft. Royal Mail sorting centre on a 0.67acre site on the Thirsk Industrial Estate.
The purchase, by Rougemont’s Royal Mail Thirsk Syndicate, provides investors an opportunity to take advantage of the tenant’s recent operational commitment to the property which will likely see the lease extended by a further 10/15 years.
In addition, should a modest increase in rent of c.£5,000 per annum (£6.00 per sq ft) be achieved this will increase investors income return to 7.15% per annum, plus enhance the Syndicates capital value.