project review 2013/2014 - cyril leonard · 2015. 11. 2. · cyril leonard’s project and building...
TRANSCRIPT
Project Review 2013/2014
Celebrating 80 years
of Quality Real
Estate Advice
Cyril Leonard are pleased to detail
in these pages current work in
progress or projects recently
completed by the Project and
Building Consultancy team.
These projects demonstrate our
continuing delivery of a quality
service to Clients across a large
range of property types
in locations throughout the UK.
With a strong emphasis on Project
Management and Technical Due
Diligence/Acquisition Surveys
we continue to build upon our
strong record in both commercial
and residential sectors and at the
time of writing we have in hand or
have recently completed Project
Management and Development
Monitoring work on over £60
million of work by construction
value. Our technical due diligence
work continues with our team
having processed survey work on
over £700 million worth of
property over the last 18 months.
Maidenhead
Cyril Leonard were instructed by UK
Clients to procure the Cat B fi t out
of new offi ce accommodation in
Berkshire for the Client’s occupation.
The CL team worked with the Client to
establish and defi ne their brief and
budgets, agree programmes and to
subsequently tender and procure works.
Contracts were placed, Landlord’s
Consent was obtained and the works to
establish and fi t out 15,000 sq ft of space
for occupation were completed on
programme and budget.
Bosch, Normanton
Cyril Leonard were instructed by Overseas
Clients to undertake pre-purchase
technical due diligence and survey work in
connection with the proposed acquisition
of this 44,116 sq ft factory premises south
of Leeds. This newly completed
development comprised 13,666 sq ft of
offi ces and 30,450 sq ft of factory space
completed to a high specifi cation and
fi tted out specifi cally for the current
occupier’s use. The property was acquired
by the fi rm’s Investment Department for
circa £4.5 million and is now managed by
our Asset Management Team.
Lancaster Gardens, Wimbledon
Cyril Leonard were instructed by Private
Clients to project manage the new build/
redevelopment of this 12,000 sq ft
detached residence on a prime Wimbledon
Village road. The construction period was
circa 22 months and involved the demolition
of an existing nursing home whilst retaining
the front façade and the construction of
accommodation over basement, ground,
fi rst and second fl oors. The contract value
was circa £4.5 million. The completed
house includes 6 bedrooms, 6 bathrooms,
a media/games room, gym and guest
apartment and was fully fi tted out to an
interior designer’s specifi cation
including bespoke cabinetry, furnishings
and artwork.
D’Arblay Street, London
On behalf of Fund Clients, Cyril Leonard
completed pre-purchase surveys and
technical due diligence to support the
purchase of the Freehold interest for
investment purposes. The premises
comprise two mid terraced buildings, one
being of traditional brick construction
dating back to the 1800’s and the other
being built in the 1930’s with a stucco
façade. The property was acquired for the
Fund by the fi rm’s Investment Department
for circa £6.5 million and the fi rm are
providing asset management advice.
We have surveyed over £700 million worth of property over the last 18 months.”
“
Finsbury Pavement, London
Cyril Leonard were instructed by
Institutional Fund Clients to undertake
pre-acquisition technical due diligence
and survey of this circa 79,000 sq ft prime
City offi ce development overlooking
Finsbury Square, London EC2 in
connection with this £57.5 million
acquisition.
The building was developed by Stanhope
in 1999 and provides Grade A offi ce
accommodation over 10 fl oors, with a
wine bar located on the ground fl oor. The
offi ce accommodation is let on an FRI
Headlease. This off market transaction
required due diligence activities to be
completed in strict confi dence within an
extremely tight timeframe.
MK Central, Milton Keynes
Cyril Leonard’s Project and Building
Consultancy team recently completed
the refurbishment of the 4th fl oor and
ground fl oor north reception within this
120,000 sq. ft. offi ce building above
Milton Keynes Station.
The works consisted of a complete
strip out of the previous Tenant’s
fi xtures and fi ttings on the 4th fl oor
and comprehensive refurbishment to
provide 30,000 sq. ft. Cat A offi ce
accommodation. In addition the works
included refurbishment to toilet
accommodation and repairs and
enhancement to air conditioning
systems throughout the building on all
fl oors including occupied areas at 1st
fl oor level. The main north reception
was also refurbished and new
automatic entrance doors were
installed.
Cyril Leonard have also been
instructed to procure overhaul and
maintenance works to external curtain
walling and cladding to the property.
Waterstones, Piccadilly
Cyril Leonard’s Project and Building
Consultancy team were instructed by
Clients to undertake pre-purchase
technical due diligence in connection with
the acquisition of this landmark Central
London building for a price in excess of
£67.5 million. This work included a
review and validation of a Vendor’s survey.
The fi rm’s Investment Department acted
for the Clients in acquiring this 66,317 sq
ft Grade II* Listed landmark property.
Dallington Street, London
On behalf of Property Company Clients
Cyril Leonard have been appointed to
act as Project Managers and Employer’s
Agents in relation to this existing 64,000
sq. ft. offi ce development in Clerkenwell.
The scheme will include the extension
of the building to provide circa 80,000
sq. ft. newly refurbished and reconfi gured
offi ce accommodation. The extension
will include the addition of new fl oors as
well as extensions of existing lightwells to
provide new accommodation.
Trinity Court, Rickmansworth
Cyril Leonard have been instructed by
Fund Clients to project manage the
refurbishment of offi ce accommodation
and the common parts at Trinity Court, a
multi-let offi ce building comprising ground
and two upper fl oors. The property
provides 26,500 sq ft of offi ce
accommodation.
Eaton Square, London
Cyril Leonard’s Project and Building
Consultancy team have been
instructed to act as Project Managers
by Private Developers in connection
with the unifi cation of two adjoining
fl ats and refurbishment to create a
new lateral conversion comprising
approximately 10,000 sq ft of space.
The scheme involves large extensions
to the rear on upper fl oors as well
as a new basement swimming pool
within the rear garden. The estimated
construction cost is circa £8.5 million.
The premises are Grade II* Listed
and constructed circa 1850. Works
are currently on site and are due for
completion end 2015.
Maidenhead
Cyril Leonard were instructed by a
multinational pharmaceutical Client
to act on their behalf in connection
with the procurement and subsequent
Project Management of “churn”
works within their existing 76,000
sq ft offi ce premises in Maidenhead.
The work involved the refi t and
refurbishment of 35,000 sq ft of
space within this occupied offi ce
premises, the project works being
phased to allow continued
occupation and use of the premises
and relocation of staff to suit the
progress of the works. The works
were successfully completed on
programme and budget.
Baker Street, London
Cyril Leonard’s Project and Building
Consultancy team were instructed to
undertake pre-leasing technical due
diligence in support of the acquisition of
7,600 sq. ft. space on of the 1st fl oor of
Accurist House on Baker Street in order to
support the leasing of the space by Clients
through Cyril Leonard’s Agency team.
Radstock Street, London
Cyril Leonard were instructed on
behalf of Developer Clients to provide
advice in relation to the marketability
of the commercial B1 element within
this proposed new build mixed use
development. In conjunction with our
Investment colleagues we reviewed the
current Planning Consent, the proposed
specifi cation, confi guration and quality
of the commercial B1 accommodation in
relation to the local market norm. This
supported the provision of advice to the
Client as regards rental values and project
viability.
The works were successfully completed on programme and budget.”
“
ISIS House, Oxford
Cyril Leonard’s Project and Building
Consultancy team were instructed to un-
dertake pre-purchase technical due
diligence and survey work in connection
with the proposed purchase of the
Freehold interest in this property for
investment purposes by Overseas Clients.
The property comprised 33,000 sq ft of
offi ce and research and development
facility recently subject to extensive and
specialist fi t out and let to a new Tenant
under the terms of a 15 year FRI Lease.
Cyril Leonard’s Investment team acted
for the purchaser and the property is now
managed by the fi rm’s Asset Management
department.
Virgin Active, Northampton
Cyril Leonard received instructions from
a private Property Company to undertake
a pre-acquisition due diligence survey on
this circa 30,000 sq ft high quality gym
and leisure facility in Northampton.
Facilities include indoor and outdoor
swimming complexes with spa pools and
saunas, large gymnasium, studios, spa
treatment facility and bar/restaurant.
Arthur Stanley House, London
On behalf of Private Clients and to
support the purchase of a Freehold
interest, Cyril Leonard completed
inspections and carried out technical due
diligence of this concrete framed building
arranged over sub-basement, basement
and eight upper fl oors comprising 63,000
sq. ft. in Fitzrovia. The Cyril Leonard Team
are now providing technical and feasibility
support in connection with redevelopment
options. The Freehold was acquired for
Clients by the fi rm’s Investment team.
30-34 Moorgate, London
Cyril Leonard were instructed by
Fund Clients to undertake pre-purchase
technical due diligence in connection with
the acquisition of this 28,000 sq ft offi ce
building in the City of London acquired
for the purposes of redevelopment and
refurbishment.
...we have in hand or have recently completed project management and development monitoring work on over £60 million worth of work by construction value”
“
Belgrave Mews North, London
Cyril Leonard were instructed through
Client’s Solicitors to undertake a
pre-purchase survey and technical due
diligence in connection with the proposed
purchase of this Central London mews
house acquired for Private Clients for in
excess of £6 million. The property had
been newly reconstructed behind
a retained façade and provided
accommodation on lower ground,
ground and three upper fl oors.
Deer Park, Merton
Following Lease termination Cyril Leonard
were instructed on behalf of the Landlord
to prepare and serve a Schedule of
Dilapidations on the Tenant of this 16,500
sq ft industrial unit in Merton. The Project
and Building Consultancy team were also
instructed to prepare a Specifi cation of
Works and implement a repairs and
refurbishment scheme in order to enable
the property to be remarketed for
occupation. Following settlement of the
dilapidations claim competitive tenders
were obtained and works implemented.
Furniture Village, Hove
Cyril Leonard have been instructed to act
as Landlord’s Monitoring Surveyor by
Fund Clients to oversee the extension
and subsequent fi t out works being
undertaken by Furniture Village.
The proposed extension involves the
construction of a circa 4,000 sq ft side
wing to the existing furniture warehouse
unit in Hove, providing new front of house
retail accommodation on two fl oors.
Works are due to commence on site
Spring/Summer 2014 and complete
for store opening before Christmas.
Cyril Leonard
Celebrate 80 years
Cyril Leonard was founded as a
Partnership in 1934 by Cyril and
Leonard Blausten with offi ces at
the Angel, Islington in North
London and, in 2014, celebrates
its 80th Anniversary. The fi rm
opened a second offi ce in Brook
Street, Mayfair opposite Claridges
in the late 1930’s and now
operates from offi ces close by in
Gilbert Street. The Partnership
acts for Clients in connection with
Real Estate Investment,
Development Funding, Real Estate
Leasing & Broking, Corporate
Consultancy, Asset & Facilities
Management, Landlord & Tenant
Work and Project and Building
Consultancy. These services are
provided either individually or on
a fully integrated basis to provide
Clients with a comprehensive
property service in-house. For
further details about the practice
visit www.cyrilleonard.co.uk.
Mansbridge Road, Southampton
Cyril Leonard were instructed by the
Tenants of the above property to act on
their behalf following receipt of a
Landlord’s Terminal Dilapidations claim
in excess of £600,000 in respect of this
circa 30,000 sq ft offi ce buiding. Section
18 Valuations have been commissioned
and, as we go to press, negotiations are
ongoing.
The Loxfords, London
Cyril Leonard were instructed to undertake
a pre-acquisition survey on this newly
completed 1,636 sq ft terraced townhouse
forming part of an Award winning
development. The instruction involved
carrying out inspections during
construction and accepting the building for
the Client on completion. This Leasehold
property was acquired at a price of £3.5
million for an Overseas Client.
For further information on any of the projects in this brochure or to discover the
range of services available from Cyril Leonard please contact Simon Blausten,
Jonathan Slater or Simon Rooke.
No material may be reproduced in whole or part without written permission. While every care is taken, the publisher cannot be held
legally responsible for any errors in articles or listings.
Simon Blausten
+44 (0)20 7408 4626
Jonathan Slater
+44 (0)20 7408 4640
Simon Rooke
+44 (0)20 7408 4602
Cyril Leonard
22 Gilbert Street,
Grosvenor Square
London W1K 5EJ
United Kingdom
T: +44 (0)20 7408 2222F: +44 (0)20 7491 4292
www.cyrilleonard.com
Cyril Leonard provide the following
services: real estate leasing and
broking, real estate investment,
development funding, corporate
consultancy, asset and facilities
management and project and building
consultancy.
22 Gilbert Street
London W1K 5EJ
Tel: +44 (0)20 7408 2222
Fax +44 (0)20 7493 2482
www.cyrilleonard.co.uk