ehB Reeves secures sale of The Minories shopping centre in Stratford for £1.85m

The historic Minories shopping centre in Stratford-upon-Avon is under new ownership after being sold for £1.85 million.

We’ve completed a deal to sell the Henley Street-based premises to Jewellery Quarter-based Sutton Carter Investments. The centre comprises nine units, including the Grade II-listed premises housing Edinburgh Woollen Mill, and the El Greco restaurant.

The mixed retail and restaurant complex is expected to generate an annual income of £171,890.

Simon Hain, director of ehB Reeves, said: “This sale protects the immediate future of one of Stratford’s best-known shopping areas and we’re delighted to have secured the deal.

“The properties comprise a mixture of period half-timbered buildings through to modern, contemporary purpose-built retail units.”

“The development is likely to stay in its current format and will hopefully flourish under its new ownership.”

Our firm now enjoys a growing management portfolio in excess of £100 million and we were ranked as the UK’s best-performing company for disposing of the highest percentage of our property portfolio in the NovaLoca Disposals Report 2020.

ehB Reeves secures £7 million from property sales in record Q4 period

We’re celebrating a record final quarter after generating £7m from sales of retail, office and industrial premises in the last three months of 2021.

We ended the year by securing three seven-figure sales among seven properties sold, our best return since the formation of ehB Reeves in 2018.

We sold Amherst Business Centre, in Budbrooke Road, Warwick, for £1.32 million; while Acorn House, an office and training centre complex in Coventry Road, Warwick, was sold to the NHS for £1.67 million.

The third of the seven-figure-plus returns saw the sale of the historic Minories shopping centre in Stratford town centre for £1.85 million.

It caps a successful 2021 for our company, which has performed strongly throughout the pandemic and was ranked as the UK’s best-performing company for disposing of the highest percentage of its property portfolio in the NovaLoca Disposals Report 2020.

Boom area for sales

Director Simon Hain said: “These results show that Warwickshire is still a boom area for commercial property sales and what’s heartening is these are a variety of property types, from office to industrial and retail.

“A combination of low interest rates and property being in short supply means anything coming up for sale is going very fast. It shows a great confidence in the local market.”

Simon said the change in planning laws brought in last year, which make changing a building’s use much easier, have led to a lot of people “thinking laterally” about letting properties they own.

“Where previously buildings uses were rigorously protected by planning uses, often to the detriment to the location, we can now see a far more varied use of buildings bringing a far more interesting mix of occupiers and ultimately an enhanced variety of goods, services and amenities to our community,” added Simon.

ehB Reeves was formed in 2018 by a merger between Leamington-based companies ehB Commercial and Reeves and Partners. The new firm enjoys a growing management portfolio in excess of £100 million.

REF: ehB02 STATE-OF-THE-ART HOMELESS CENTRE TO TRANSFORM LIVES IN STRATFORD

Long-term let secured by Leamington commercial property experts enables project to complete

A state-of-the-art homeless centre which is set to transform lives in Stratford-upon-Avon is due to open its doors this summer.

The iconic building at 41 Guild Street, formerly the Fred Winter department store, has been converted to provide a food bank, office space, café and specialised accommodation for people who are homeless or at risk of homelessness.

The ground-breaking project has been masterminded by Springs Housing Association after it secured the building on a 15-year lease from Leamington-based commercial property experts, ehB Reeves.

Two housing associations, along with Citizens’ Advice and Job Centre Plus will all be based at the site, which is earmarked for a late-June opening and will be called the Fred Winter Housing Plus Centre.

Dominic Bradley, group chief executive of Springs Housing Association, said his organisation has a history of working with the private sector for social good.

He said: “The big thing for us was creating a housing partnership and also employment, which is key to keeping people out of long-term homelessness.

“It’s a situation which has been brought into sharp focus by COVID-19. Stratford has a lack of affordable housing and has seen a huge increase in Universal Credit applications, which can be a precursor to homelessness.

“The Fred Winter Centre can be a big help to the town and will be a one-stop shop for people who need its help. The most exciting thing for me has been the support of the people from the town.

“We had 100-plus people at all of the information sessions prior to the planning application and the fact we didn’t receive one single objection during the planning process shows us what an amazing community we have here in Stratford.

“It’s a model which could be used elsewhere and what is refreshing is it’s a project where all parties from public, private and the charitable sector have come to the table to deliver a shared vision for centre.”

Simon Hain, director of ehB Reeves, who brokered the deal with Springs Housing Association, said: “This development is a state-of-the-art homeless centre which will transform lives in Stratford.

“It’s a wide-reaching partnership between the town council, several charities and other organisations, who are all coming together to offer a ground-breaking service.

“The Winter family were faced with competition for the landmark building and felt this was an ideal use for it, so we were delighted to secure the deal with Springs Housing Association on their behalf and pave the way for this development to go ahead.

“We wish everyone involved with the project every success.”

The site is located within the town’s conservation area and will include 14 one-bedroom apartments and a two-bedroom apartment over three floors.

“The centre has been owned by the Winter family for a long time and we wanted to honour that. There is more than 100 years of history here and it’s synonymous with the town,” added Dominic.

ehB Reeves was formed in 2018 by a merger between Leamington-based companies ehB Commercial and Reeves and Partners. The new firm enjoys a growing management portfolio in excess of £100 million.

ehB Reeves tops national poll after year of extreme challenge

ehB Reeves have overcome the challenges posed by the coronavirus pandemic to top a national poll recognising success in the market in 2020.

The NovaLoca Disposals Report 2020, published by commercial property search firm NovaLoca, ranked Leamington Spa-based ehB Reeves as the UK’s best-performing company for disposing of the highest percentage of its property portfolio.

The rankings, based on firms with an initial portfolio of at least 25 properties, revealed ehB disposed of 53 per cent of its real estate in the three months to December 1, replacing 32 per cent of them.

Director Simon Hain said the success was due to his team responding efficiently and diligently over the COVID-19 period, managing both their clients’ expectations and those of tenants and buyers.

He said: “Out of adversity, you sometimes see a positive and proactive move to start new business as they relaunch and adapt – and that is what has happened this year.

“This has translated into an excellent uptake of commercial properties covering our areas of expertise. We have been very much open for business throughout the pandemic and haven’t used it as an excuse to sit back and wait for the market to improve.

“We put ourselves out there to help and advise, often going beyond the remit as a commercial property agent. That has paid dividends, earning the trust of landlords and tenants in difficult times.

“It is in all our interests to allow businesses to succeed rather that squeezing the last pound out of a deal at the expense of longevity and success. This is what I try to instil in our clients and tenants alike.”

Simon said the market opened up quite quickly following the first lockdown, but it didn’t take anything away from the success achieved.

“There has been an element of pent-up demand which translated into transactions following relaxation of the first lockdown,” he added.

“But whichever way you analyse the figures, this is a superb result for ehB and one which reflects very well on the hard work of our team, often in the most trying of circumstances.”

ehB Reeves was formed in 2018 by a merger between Leamington-based companies ehB Commercial and Reeves and Partners. The new firm enjoys a growing management portfolio in excess of £100 million.

Major changes to the English User Classes Order – Far Reaching Flexibility

From the 1st September 2020 sweeping changes become law in the User Class Order.  A new use class E comes into effect, allowing commercial premises to used for a multitude of uses without the need for a change of use. Shops can be used as offices, offices can be used as shops, light industrial units can be used as gyms and there are many more variations.

These changes are designed to help stimulate the use commercial property, encourage business development and promote new business development. For further information contact ehB Reeves, specialists in the disposal of commercial property either freehold or by lease.  We can advise on your acquisition of commercial property if we can’t offer you a suitable building.  We are here to help. Contact Simon Hain 01926 695365

ehB Reeves Complete Sales of 2 Town Centre Investments

ehB Reeves sells two retail investments in Leamington Spa in early May despite the trend of a very fragile commercial property market, stricken by the Covid 19 crisis. Within the last 2 weeks two freehold mixed use investments have completed, both buildings on Regent Street. A positive indication and example of confidence in the town and its future despite the current turmoil. Both buildings have been bought by private individuals, are fully let and income producing, retail at ground floor and offices to upper floors.

Refrigeration/Freezer Facility Comes to Market

A warehouse of 6719 sq.ft fitted with built in freezer and refrigeration stores has come to the market, formally used for the manufacture of pies, the food manufacture and storage facility is ready to go. Ancillary offices, stores, canteen, changing rooms etc are located on upper floors. With 19 on site car parking spaces the building is well provided for transport vehicles. Located in Southam Warwickshire, unit 1 Kineton Road is strategically located in the Midlands, close to Leamington Spa, Ruby, Banbury and Coventry and not is far from the M40 motorway. Flexible new lease terms are available. Contact Simon Hain 01926 695365.

Award winning ehB Reeves sell stunning Edwardian manor known as Gables House

ehB Reeves are delighted to have sold one of the UK’s top providers of legal advice and tax guidance a new home,  they are moving into a stunning new £2.5m headquarters in the heart of the Midlands.

Countrywide Tax and Trust Corporation Ltd has bought the impressive Gables House on the Kenilworth Road, Leamington Spa, in a deal brokered by Warwickshire commercial property expert Simon Hain of ehB Reeves.

The imposing Edwardian Manor House boasts more than 12,000 sq ft of office space and is set in 1.8 acres of mature woodland and landscaped gardens.

Countrywide director Bob Massey is confident it will be the perfect base for the company, which specialises in advice on wills, probate, powers of attorney, business succession, bloodline planning and long-term care.

He said: “It is a wonderful building, has a grand, galleried entrance hall and there’s lots of period features throughout.

“It will be a tremendous new home for Countrywide and we’re all looking forward to moving in.”

Gables House will be home to around 100 Countrywide staff, who will be working alongside their 2,500 advisers around the UK.

Simon Hain, director of ehB Reeves, said: “We are delighted to have identified such a fabulous new home for such a prestigious company.

“Gables House will provide a unique base for Countrywide. It has a real wow factor and offers character, comfort, ample parking and good transport links.

“It is a truly fantastic building on a beautiful plot and in a terrific location in the historic town of Leamington Spa. We wish them well.”

ehB Reeves celebrating major successes at CoStar Awards

Our growing Warwickshire commercial property firm is celebrating no fewer than five top-five placings at a leading industry awards ceremony, following a year of major success in Coventry and the wider West Midlands.

We have won two top prizes at the national CoStar Awards, held last week, as well as finishing second in two other categories and fourth in another.

Simon Hain, director of ehB Reeves, said: “Being recognised in this way at one of the industry’s key awards is a real honour and is testament to the hard work and dedication our team has demonstrated in this period of growth.

“Since we merged with Reeves and Partners in 2018, increasing our footprint in Coventry and the wider West Midlands has been a real focus for us, so to be independently recognised for doing just that is incredibly rewarding.”

The CoStar Awards are held to recognise the efforts and successes of the UK’s top commercial property agents, rewarding those which close the highest transaction volume in commercial real estate deals and leads in their respective markets.

In the Office Award section, ehB was ranked as the most active single branch agency for acquisition and disposals in Coventry, in both the ‘square foot leased’ and ‘deals done’ categories.

We also ranked as the second most active disposal agent in Coventry, in both the ‘square foot leased’ and ‘deals done’ categories.

Finally, we ranked fourth in the Industrial Award, measuring the most active single branch agency for acquisitions and disposals, in terms of number of deals, in the West Midlands.

ehB Reeves was formed in 2018 by a merger between ehB Commercial and Reeves and Partners. Our new firm enjoys a growing management portfolio in excess of £100 million.

For more details on the awards, visit www.costarawards.co.uk/winners.

Commercial property specialists supports stroke charity

A kind-hearted colleague at a Leamington-based commercial property firm took part in the Birmingham Half Marathon to raise money for the Stroke Association.

Adam Boxer, facilities manager at ehB Reeves, ran the popular half-marathon for a second year in a row with former colleagues at SAIC Motors.

Adam set out to raise £180 for the Stroke Association but thanks to generous donations from staff at ehB Reeves and elsewhere, he achieved a total of £375.

The SAIC team were delighted to have raised more than £1,000 collectively for the charity.

Adam said: “Despite moving onto pastures new, I wanted to fulfil my promise to run the race and help raise money for an important cause.

“The atmosphere on the day was lively and full of enthusiasm, despite the heavy rainfall. I enjoyed taking part and plan to run again next year, and look forward to convincing my new colleagues at ehB Reeves.”

Director of ehB Reeves, Simon Hain, said: “We are all proud of Adam for taking part in the run and we are pleased we could support him and add to his total.

“This year we’ve raised more than £6,000 for Myton Hospice and plan to take part in more fundraising activities in 2020.”

ehB Reeves was born from a merger between ehB Commercial and Reeves and Partners in July 2018. For more information, visit www.ehbreeves.com.